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- Michael Kors opened a new flagship on 67th and Madison back in March.
- Alice & Olivia launched a shop that also sells vintage on Madison and 66th in May. Photo by
- Joie also debuted in May, on Madison and 88th. Image via
- And Milly's first US space launched at 73rd in May.
- Calypso's beachy flagship opened on Madison and 73rd in August.
- LadurÃ©e caused a stir when it came to Madison and 71st at the very beginning of fall.
- Tory Burch's flagship at 68th made us green with apartment envy back in September.
- A merry-go-round of switcheroos means new Escada and Valentino spaces on Madison Avenue. Image via
- The renaissance isn't limited to high-fashion. Lululemon opened on Madison and 85th last month. Image via
- Bottega Veneta just debuted a women's store at Madison and 71st. Image via
- Celine should open on Madison and 71st just in time for the holidays.
Today's WSJ points out that Madison Avenue, once considered a recession casualty, has bounced back. During the boom years, rents on the strip between 57th and 72nd could go as high as $1500 a square foot. Then the market fell apart, and rents dropped to $500 per square foot as retailers like Christian Dior, Yves St. Laurent, and Sonia Rykiel all jumped ship. Now, though, the Madison Avenue BID reports over 60 openings since January 2010, and rents are back up to pre-bust levels. Above, we've pulled together a slideshow of notable recent and upcoming openings, a list that even includes onetime defector Céline.
Observers in the world of retail real estate sound cautiously optimistic about these changes, but they also warn against repeating recent history. The economy hasn't exactly returned to where it was before 2008, and luxury retail is a particularly fragile enterprise. One expert told the Journal that a single bad headline can undo months of gains.
· An Avenue's Shaky Rebirth [WSJ, subscription req'd]