clock menu more-arrow no yes

Filed under:

The Importance of Ermenegildo Zegna's New Fifth Avenue Flagship

Zegna's Brookfield Place store
Zegna's Brookfield Place store
Courtesy of Ermenegildo Zegna

Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.

Another day, another retail shift on Fifth Avenue. The latest power play comes courtesy of Ermenegildo Zegna — the New York Post reports that the men's luxury brand has paid $150 million to secure a 9,000-square foot duplex within the Crown Building at 730 Fifth Avenue, making it neighbors with Bulgari on what the paper dubs "the most expensive [street] corner in the world." There are two reasons why this is important:

1. The brand's already got a store at 663 Fifth Avenue just a few blocks south, which opened almost exactly seven years ago. Nothing's been announced just yet, but it's highly doubtful they'll keep both stores, leaving a huge gap right next to Salvatore Ferragamo.

2. Though it sounds like they'll retain a Fifth Avenue address, the store entrance will actually be facing 57th Street. With the arrival Nordstrom on the (fairly distant) horizon, this street has been seeing a huge retail overhaul that includes a restructuring of Bergdorf Goodman's jewelry department, a new flagship for Breitling, renovations at Saint Laurent and Louis Vuitton, and the impending arrival of Saks Off Fifth with the first Gilt shop-in-shop — and that's just the highlights.

The Post also includes this interesting tidbit: "Last year, after seeing the Meatpacking District was not turning ultra luxe, Zegna sold a property at 771 Washington St. for $71 million." Perhaps that's when the brand turned its attention to Brookfield Place.

Ermenegildo Zegna

The Crown Building, 730 5th Ave, New York, NY 10019, USA