Asics’ Times Square flagship closes in midst of dispute

Running shoe maker embroiled in battle with retail operator

TRD New York /
Oct.October 15, 2015 01:30 PM

Running shoe manufacturer Asics closed its flagship store in Times Square on Tuesday after a bitter dispute with the company that runs its North American retail operation.

The 5,000-square-foot Midtown store, which opened less than a year ago at 51 West 42nd Street, was the last of 13 Asics stores in the U.S. to close as the company is embroiled in a legal battle with Windsor Financial Group.

One of Windsor’s biggest investors filed a lawsuit against Asics in California this week, alleging fraud and breach of contract against the Japanese sportswear company, according to the New York Post.

Windsor had the exclusive rights to operate Asics’ retail stores in the U.S. – all of which have shuttered over the past several months since Asics terminated its operating agreement with the company.

The closing of the Times Square retail location came just weeks before one of the running shoe brand’s most important events: the New York City Marathon on Nov. 1, of which Asics is a major sponsor. [NYP]Rey Mashayekhi


Related Articles

arrow_forward_ios
Clockwise from top left: 312 West 34th Street, 61 North 9th Street, 639 Classon Avenue, and One Fulton Square (Credit: Google Maps)

These were the top 10 NYC retail leases in July

These were the top 10 NYC retail leases in July
Ricky's at 830 Broadway (Credit: NYC Go)

Ricky’s, iconic NYC beauty shop, faces
more closures

Ricky’s, iconic NYC beauty shop, faces
more closures
From top, clockwise: Cushman & Wakefield's Joanne Podell, Showfields' Amir Zwickel, Appear Here's Josh Yentob, Brookfield Properties's Mark Kostic (Credit: Getty, LinkedIn)

When it comes to retail, “real estate in New York is fundamentally broken”

When it comes to retail, “real estate in New York is fundamentally broken”
TSCG and SCG Retail's David Firestein, Meridien Retail Leasing's James Famularo and Newmark Knight Frank's Jeffrey Roseman

How to restart retail on today’s TRD Talk

How to restart retail on today’s TRD Talk
Saks Fifth Avenue at 611 5th Avenue in New York (Photo by Cindy Ord/Getty Images)

Retailer Hudson’s Bay pink-slips 500 NYC employees

Retailer Hudson’s Bay pink-slips 500 NYC employees
Caption: Stanley Chera (Photo by Patrick McMullan/Patrick McMullan via Getty Images)

Stanley Chera, titan of NYC retail, dies of coronavirus

Stanley Chera, titan of NYC retail, dies of coronavirus
Mayor De Blasio distributes information on the coronavirus (Credit: Jeenah Moon/Getty Images)

As coronavirus impacts small businesses, city offers financial relief

As coronavirus impacts small businesses, city offers financial relief
595 Madison Avenue (Credit: Vornado)

Coach abruptly shuts doors at Vornado’s 595 Madison

Coach abruptly shuts doors at Vornado’s 595 Madison
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...