American dreams will live on at 711 Fifth Avenue: what was once the Disney Store is now confirmed as Ralph Lauren's newest site. Adding to the American megabrand theme, rent will be paid to Coca-Cola, who own the building and operated their own store there in the '90s. Rumors have circulated around the possibility of Ralph opening in the space since 2010.
The new location is believed to be 35,000 square feet, which retail experts say is too big for a single collection. Expect a smattering of offerings from across the Ralph Lauren kingdom, especially considering the tourist-y foot traffic. The Fifth Avenue location, between East 55th and East 56th Streets, will serve the out of town shoppers, while the brand's Madison Avenue men's and women's outposts—just 14 city blocks and one avenue away—will continue catering to wealthy locals.
Big brands are now commonly opening up on both Fifth Avenue and Madison Avenue for the same reasons RL Corp. is. Valentino will soon have a boutique in a Madison Avenue townhouse between East 68th and East 69th Streets, in addition to an impending, enormous Fifth Avenue flagship.
One real estate expert sees a third location emerging for the retailers desiring maximum exposure: "Some tenants will have stores on Fifth Avenue, Madison Avenue in the Sixties, and a third store on Madison Avenue above 70th Street," says Jeffrey C. Paisner. Customers: gotta catch 'em all.
· Ralph Lauren to Open on Fifth Avenue [WWD]
· Valentino's Fifth Avenue Flagship Sets a City Rent Record [Racked NY]
· The Former Disney Store Might Get a Tenant: Ralph Lauren [Racked NY]