Retailers near Trump Tower Need to Have Empty Stores
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As protesters demonstrate their disapproval of President-Elect Trump, security personnel and police officers work to protect Fifth Avenue from the dangers of the street. Barricades are placed between 56 thand 57 th Streets outside Trump Tower in New York City. The security increases are affecting world-famous retailers such as Tiffany & Co., Gucci and Gucci. New York City Mayor Bill de Blasio stated to The New York Post that he doesn’t care about how Trump Tower traffic impacts the retailers blocked from him by protesters and security personnel. Gale Brewer, Manhattan Borough President and a member of the Fifth Avenue Business Improvement District Board, condemned de Blasio’s comments and said that she had seen empty stores in the area. This “never happens”.
Total Retail Take Increasing security and protestors are creating problems at the beginning of the holiday season. Tiffany’s had to cancel their annual holiday window unveiling and the main entrance to the Fifth Avenue store has been closed ever since. Retail stores such as Abercrombie & Fitch and Henri Bendel in the area bring in tourists from all over the globe and generate millions in taxes each year for the city. Mayor de Blasio may want to help them more as they are paying high rents for prime locations.
The Runway Opening Neiman Marcus Store Locations are available to rent
Rent the Runway will open its first store-within a-store in San Francisco’s Union Square. The store will have a rotating inventory of over 400 designers and personal stylists. There will also be an in-app concierge to hand deliver and courier services and a “RTR Bar” for women who wish to swap their rented clothes. Rent the Runway, a fashion tech startup that lets users rent clothes and accessories, plans to open seven bricks-and-mortar locations by 2017.
Total Retail Take It’s a win-win situation for both companies. Rent the Runway will reach a younger, more wealthy clientele while Neiman Marcus will be able to benefit from Rent the Runway’s millennial customers. After four quarters of declining comparable sales, Neiman Marcus has had a difficult time attracting millennial shoppers. This move will help the high-end retailer get back on track.
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