What peak is The North Face looking to summit next? Perhaps the elusive Manhattan retail market.
Earlier this week, outdoor apparel and gear company The North Face announced that it would be signing a lease on a 20,000-square-foot space at 510 Fifth Avenue at West 43rd Street in Midtown, according to a recent article from The Real Deal.
The North Face, which already operates several stores in Manhattan, plans to make an even bigger splash in the Big Apple retail market by opening this new flagship store in the city. While other retailers are downsizing their retail footprint, or shuttering their doors in Manhattan altogether thanks to increasing rents, the great outdoors-focused retailer is planning on opening its largest NYC location to date.
The company is taking over the space from faltering Canadian-based clothier Joe Fresh, signing an eight-year sublease from the company. According to The Real Deal, Joe Fresh will be shuttering 52 stores and pulling its clothing from 200 JCPenney stores. Although the brand has several locations throughout the city, as of this article, it has shut down operations at all outposts except for 462 Broadway in Soho.
Meanwhile, The North Face’s ascent continues. With several sizable stores already in operation throughout the city and now plans for its flagship at 510 Fifth Ave., the company, according to The Real Deal, is also looking at additional space in Soho. While no lease has been signed on a downtown location, sources tell TRD that the company was recently viewing a nearly 15,000-square-foot space at 519 Broadway, formerly occupied by outerwear chain Quiksilver. No lease has been signed at that address.