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Rumor has it Nike is looking to move into H&M's 640 Fifth Avenue address. H&M is leaving the space for their enormous new store at 589 Fifth Avenue, just three blocks south. "Nike is big and they are slow, and they have been working on this for a long time," one "retail spy" told The Post.
The lease on the current Niketown location at 6 E 57th Street doesn't expire until May 2017. Donald J. Trump, who controls the property, isn't worried about losing the activewear brand: "If they extend fine, if not, we will lease it. It's a great building. You know it was made out of steel."
Nike is also rumored to be hunting around Soho—specifically 529 Broadway, a new development.
· Nike's got its eye on new Fifth Avenue digs [NY Post]
· Sorry, Vegas: H&M Wants to Open Its Biggest Store in New York [Racked NY]
· Landmarks Commission Blown Away By 529 Broadway Designs [Curbed NY]