Tommy Hilfiger Closes Fifth Ave. Flagship Store
The avenue with a global reputation for high-end shopping took another hit as the fashion brand shuttered its doors underscoring its focus on digital customers.
NEW YORK CITY—Tommy Hilfiger closed its 22,000-square-foot flagship store at 681 Fifth Ave., as first reported in WWD.
The company confirmed with GlobeSt.com that it had shut down operations at that location as well as a Tommy Hilfiger store on Collins Ave. in Miami, FL. It provided the following statement from CEO Daniel Grieder:
”In line with our strategic objective to further reach and engage with digitally-savvy North American consumers, we will focus on next generation retail experiences and partnerships to stay ahead of today’s continuously changing shopping habits and preferences.”
The statement also noted, “Leveraging our Store-of-the-Future concepts rolled out in the global retail landscape, going forward, North America will be the lighthouse region to develop and test new modular, digitally-infused retail concepts. We continue to invest in tommy.com and the ongoing expansion of strong wholesale distribution partners that keep consumers at the heart of our brand.”
Tommy Hilfiger had moved its headquarters to 285 Madison Ave. in a deal its parent company PVH Corp. signed with RFR Realty, as reported in GlobeSt.com’s February 2017 article. The fashion company had moved from the Starrett-Lehigh Building, at 601 W. 26th St., where it had resided since 2004.
WWD reported that financially the company was doing well and “remained PVH’s key strength as the brand continued a robust performance.” The industry trade publication stated in Q3 FY 2018, Hilfiger’s revenues increased 11% reaching $1.1 billion. WWD also stated that for the current year the company’s revenues were expected to increase approximately 10%.
Hilfiger’s departure follows several other high-profile retail closures on Fifth Ave. including Henri Bendel, Lord & Taylor, Ralph Lauren and the Gap.