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Today's Wall Street Journal takes a look at the changing demographic—and average price point—of retail in the Meatpacking District. Ironically, as rents get more expensive, higher-end neighborhood pioneers like Stella McCartney are leaving, replaced by more accessible (and tourist-friendly) brands like Sephora and Levi's.
This isn't a new story, exactly, but it's a good overview with some new details. For one thing, it sounds like Alexander McQueen isn't checking out of the neighborhood as rumored last year. According to the Journal's sources, the brand had a hard time renegotiating its MePa lease, but ultimately decided to stay for the short term.
· Meatpacking Rents Flip Shops [WSJ]
· Might Alexander McQueen Also Be Leaving MePa? [Racked NY]