Sorry New York, we all know how excited you were about the prospect of department store Kohl's joining the gently-priced retail rat race, but it may not be coming to pass. The retailer first took interest in obtaining a Manhattan address after competitor JC Penney kicked up such a ruckus this summer by moving into the retail mecca of Herald Square. The flagship caused mixed reactions from the community, especially from neighbor Macy's, but the overall publicity seemed worth it. Kohl's seemingly agreed and began hunting for it's own share of prime New York real estate. For awhile it seemed Kohl's had found a match, after eyeing a 33,000 square foot space at 1775 Broadway for months.
The site is currently being renovated by Moinian Group, the
landlord, and is located between 57th and 58th Streets and between
Broadway and Eighth Avenue, just south of Columbus Circle.The sizable retail space seemed perfect for a new fast fashion retailer, and yet Kohl's did not make a move.
Now reps for the company are saying the entire operation is a no go.“They’ve scrapped Manhattan,” one of the sources told WWD. However,
the other source said Kohl’s will still one day end up with a store in
the borough.One possibility is the former Filene’s Basement on Sixth Avenue, on the
same block as T.J. Maxx. Kohl’s also has examined 224 West 57th on the
southeast corner of 57th and Broadway, the Argonaut Building, which is
vacant, as well as Times Square and, of course, Herald Square. But could New York's retail scene really handle that much merch in the same corner? Especially when many of the stores carry virtually the same product? We'll see if anything comes to pass, but for now, New York will just have to shop their Vera Wang and Lauren Conrad for Kohl's collections online.
Article Source: WWD
Photo Source: thebudgetbabe.com
-Alia RajputSee the Top Ten Summer 2016 Trends for Women Over 40
Tags: 000 square foot space, 1775 Broadway, 33, Aliua Rajput, Fileneâ€™s Basement, Herald Square, JC Penney, Kohls, Lauren Conrad, Manhattan, Manhattanscrapped, Moinian Group, retail mecca, T.J. Maxx, Vera Wang