Diesel To Open 'Cool' New Flagship A Few Blocks From Its Old One

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After signing a lease for a Madison Avenue and 59th Street space in January, it looked like Diesel was giving up its giant Fifth Avenue store—until a month later, when signage was spotted that implied the storefront was simply undergoing renovations. But according to a report by WWD, the Fifth Avenue outpost is permanently closed, and the Madison Avenue store will act as the brand's flagship once it opens this fall.

What's with the move? CEO Alessandro Bogliolo tells the paper that the three-story Fifth Avenue store "no longer reflected our objectives," adding, "Big was beautiful until a few years ago. Consumers have changed a lot, now they are looking for a strong experience, but more elevated and personalized."

As for the new Madison Avenue space, which takes up about a third of the square footage as the old one, it'll be a "statement flagship with great visibility, in a super prime area." Bogliolo continues, "The clientele on Madison is different, more exclusive and educated and looking for quality. The priority is to be present where there is our core target of customers, sophisticated and discerning."

Along with the new flagship, Diesel will also renovate its existing New York stores, with a big focus on the 'cool' factor: "We're obsessed with coolness," Bogliolo says.