Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
File this one under Things We Could Not Have Predicted in a Million Years: Only one brand has made it to the second round of bidding for Takashimaya's Fifth Avenue building, and that brand is Swatch. Crain's reports that four or five other bidders have expressed interest in the building, which is expected to fetch some $120-$130 million, but Swatch is the only retailer among the bunch. (Last week, we heard that Michael Kors, Harry Winston, Oakley and Desigual were all interested—the fashion industry can be so fickle.) It's anyone's guess what Swatch means to do with the 20-floor, 100,000-square-foot building, especially since they already have five New York locations.
· Swatch makes bid for Takashimaya building [Crain's]
· Rumormongering [Racked NY]
· Inside Takashimaya's Closing Sale: Impulse Buying Central [Racked NY]