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A New Store Opened Every Five Days Last Year, and More Facts

H&M Fifth Avenue. Photo by Brian Harkin.
H&M Fifth Avenue. Photo by Brian Harkin.

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New York City was officially the top city for fashion retail openings in the world last year. A survey conducted by the Location Group in Zurich ranked fifteen "retail meccas" and NYC beat 'em all by opening 71 new fashion stores in 2012. That averages out at a new fashion store every five days and super-duper high rents. After the jump, a look at last year by the numbers and what's to come.

By the numbers
· A record-setting 52 million tourists in 2012 gives weight to the reason you don't walk down Broadway, ever
· The lowest unemployment rate in four years was reached last month: 8.4 percent
· And New Yorkers got money to burn: $43,524 in disposable income, on average

The mall-ification of Manhattan
A handful of retail developments with groups of stores contained in the same complex—noun, shopping mall—are underway. A look at some of the big projects, and the retail space they're looking to fill:
· Hudson Yards, Far West Side: more than 1 million square feet [Link]
· Pier 57, Far West Side: 425,000 square feet [Link]
· The World Trade Center and Brookfield Place, Financial District: 615,000 square feet [WTC and Brookfield]
· Fulton Street Transit Center, Financial District: 70,000 square feet [Link]
· South Street Seaport, Financial District: looking for tenants [Link]

Regarding the Bowery
Surprise, surprise: retail is licking their chops at possibilities of the Bowery. On the luxury apartments that have risen in the area and the influx of dining options, one real estate exec told WWD that the Bowery is, "extremely desirable to live in. It's the last little bit of New York that has real New York flavor." Why not squash that flavor with chain stores?

Per WWD, "distinct" neighborhoods like the Bowery are attractive to brands that have locations elsewhere in the city, such as the recently opened Intermix, who counts their newly opened Bowery store as number seven in Manhattan alone. H&M says they don't have plans for the Bowery, but they wouldn't rule it out.

Meanwhile, Anthropologie and Patagonia will be opening up shop on the Bowery soon, and Rogan has exited his longtime storefront at the corner of Bond Street. Recently, a broker described Bowery as the new Broadway.
· Retail Meccas: New York [WWD]
· All store opening coverage [Racked NY]
· All Bowery coverage [Racked NY]

Hudson Yards

347 10th Avenue, Manhattan, NY 10001 (212) 801-1000 Visit Website