Retailers still opening on Fifth Avenue

March 09, 2009 08:57AM

Retailers Armani And Diesel Opened Flagship Stores On Fifth Avenue, between 49th and 58th streets, last month, and Tommy Hilfiger is expected to join them with a 22,000-square-foot store this summer. David LaPierre, a senior vice president at CB Richard Ellis, said Fifth Avenue is moving away from high luxury brands as moderate retailers like Abercrombie & Fitch, Diesel and Tommy Hilfiger open stores, making the area more appealing to a broader range of shoppers. Abercrombie & Fitch opened a store at 720 Fifth Avenue, at 56th Street, in 2005, and revenue at the store rose 23 percent last year.

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