Pinko has added a new chapter in its fight over a sweet pandemic deal on its Soho space.
The Italian fashion brand, which is already engaged in a dispute at 143 Spring Street, filed a lawsuit against Abercrombie & Fitch, the Commercial Observer reported. Pinko is partly placing the blame for the dispute on Abercrombie, claiming in a complaint filed to New York County Supreme Court it strong-armed sublandlord One Kings Lane Holdings into bailing on Pinko’s renewal agreement at the two-story storefront.
Pinko alleged Abercrombie entered into a separate deal with One Kings Lane for the space Pinko secured at a heavily discounted rate and worked to drive the retailer out. Pinko claimed Abercrombie employees “trespassed” in the space to measure and take photographs for their own purposes.
“Despite Abercrombie’s brazen attempt at stealing its store, Pinko is not going to roll over and be steamrolled and will aggressively defend its interests in the premises,” a lawyer representing Pinko said in a statement.
Pinko is trying to get Abercrombie employees banned from the premises. Abercrombie hasn’t commented on the lawsuit.
This is Pinko’s second lawsuit in as many months regarding the Soho property.
The company last month filed a complaint in state court, alleging One Kings Lane reneged on an agreement to extend Pinko’s sublease. According to the complaint, the sublandlord had done everything but sign a lease renewal before suddenly giving Pinko two months to leave.
Pinko has not yet done so and continues operating at the location.
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The Italian fashion brand moved into the Soho store in March 2021, scoring a major discount on rent that broke down to roughly $73 per square foot. The average ground-floor retail rents in the area prior to the pandemic were about $550 per square foot.
Pinko only had a one-year term, but said it was trying to extend the lease to 2026 when One Kings Lane started playing hard-to-get. The lawsuit claimed the sublandlord appeared to be having “landlord’s remorse.”
In that lawsuit, Pinko claimed a larger retailer made an offer for the space; presumably, it was referring to Abercrombie. One Kings Lane’s lawyers said that because their client never signed the lease renewal, Pinko has no argument. They also said Pinko has not paid rent since December.
— Holden Walter-Warner