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The New York Times took a stab at making sense of everything that's going on with the retail scene in Lower Manhattan, mainly in Brookfield Place and the World Trade Center shopping center helmed by Westfield Group. While comparing the two shopping centers, they divulged that Vince will be headed to Brookfield, along with Saks Fifth Avenue, Salvatore Ferragamo, Hérmes, and several other high-end names that have already been reported.
The article also took a look at how the World Trade Center is breaking the traditional retail mantra that luxury prefers to be with luxury. "150 stores are planned to entice shoppers through sprawling corridors to browse $900 metallic leather pumps at Tom Ford or stock up on discounted toothpaste at Duane Reade."
Nowhere will that mix be more prevalent than on Church Street—Tiffany & Co. and Tom Ford, which are expected to take street-level retail spaces at the World Trade Center, will be across the street from Century 21.
Though these stores obviously attract very different shoppers, the discount retailer will be facing competition with Saks Off Fifth, which the Times says will likely be taking over Brooks Brothers' space at 1 Liberty Street when the lease expires in a year and a half.
"There is a retail revolution that is underway in Lower Manhattan," Jessica Lappin, the president of the business improvement district Alliance for Downtown New York, told the paper. "Most people haven't fully wrapped their brains around the scale of the changes that are coming."
· Lower Manhattan Will Undergo a Retail Revival [NYT]
· Updated: Tracking the Financial District's Booming Retail Scene [Racked NY]
· Saks Fifth Avenue Coming to Brookfield Place, Off Fifth Nearby [Racked NY]