Fifth Avenue takes another hit: Tommy Hilfiger is leaving its flagship

The fashion behemoth said its focus is shifting to "digitally savvy North American consumers"

New York /
Mar.March 27, 2019 10:06 AM

Tommy Hilfiger at 681 Fifth Avenue and designer Tommy Hilfiger (Credit: Google Maps and Getty Images)

Another Fifth Avenue fashion titan has announced it will shutter its flagship on the famed shopping strip, serving a reminder of the decline of brick-and-mortar retail.

Tommy Hilfiger will close its 22,000-square-foot store at 681 Fifth Avenue, according to Women’s Wear Daily. The company will also reportedly close its store on Collins Avenue in Miami Beach at the end of April.

In a statement to WWD, Hilfiger’s chief executive of global, Daniel Grieder, said the move was to “further reach and engage with digitally savvy North American consumers.”

“We will focus on next generation retail experiences and partnerships to stay ahead of today’s continuously changing shopping habits and preferences,” the statement read.

The move comes after other fashion giants have closed on Fifth Avenue, including Polo Ralph Lauren, the Gap and Lord & Taylor.

Hilfiger has offloaded other sites recently. In February, the company sold the Raleigh Hotel in Miami Beach to developer Michael Shvo for $103 million.

In 2016, Hilfiger moved his eponymous company’s headquarters to RFR Realty’s 285 Madison Avenue, where it took 150,000 square feet. [WWD] — David Jeans 


Related Articles

arrow_forward_ios
Before the pandemic, national tenants paid 94 percent of rent. (Getty)

Retail rent collections rebound to 90%

Retail rent collections rebound to 90%
Cindat Capital Management CEO Greg Peng and Hersha Hospitality Trust CEO Jay Shah with 51 Nassau Street (Google Maps)

7 Manhattan hotels head to auction block

7 Manhattan hotels head to auction block
Joseph Moinian and the NBA Store at 545 Fifth Ave. (Google Maps, iStock)

NBA owes Moinian $7.5M in rent for Fifth Ave store

NBA owes Moinian $7.5M in rent for Fifth Ave store
As companies leave Silicon Valley, Austin, Texas is becoming a top destination. (Getty)

Silicon Valley exodus: Where’d everyone go?

Silicon Valley exodus: Where’d everyone go?
TF Cornerstone President Frederick Elghanayan with 2-10 54th Avenue and 55-01 Second Street in Long Island City (Google Maps)

The 10 biggest new project filings in NYC

The 10 biggest new project filings in NYC
Gov. Andrew Cuomo announced that a major development surrounding Penn Station. (Getty)

Cuomo adds housing to $51B Midtown West project

Cuomo adds housing to $51B Midtown West project
Alex Sapir (Getty)

Former Sapir employee accuses company of retaliation

Former Sapir employee accuses company of retaliation
229 West 43rd Street in New York and Two Westlake Park in Texas. New York and Texas are the states with the largest exposure to loans with appraisal reductions. (Photos via iStock; Google Maps; JLL)

What appraisal reductions mean for future losses on CMBS loans

What appraisal reductions mean for future losses on CMBS loans
arrow_forward_ios

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

Loading...