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Diesel may be opening a store on Fifth Avenue in midtown. "The company has signed a letter of intent to lease 685 Fifth Avenue, at 54th Street, from the Gucci Group, according to a person familiar with the matter. Gucci is moving its flagship two blocks north to Trump Tower. Sources said a lease has not yet been signed and it was unclear whether Diesel would rent the entire 33,000-square-foot store if the lease is executed, or a portion of the space." [WWD, subscription req]