THERE GOES THE NEIGHBORHOOD
Once upon a time, different kinds of shops existed in different neighborhoods, catering to the different people who lived in those neighborhoods. Quaint, right? But that was then and this is now. And now every corner of Manhattan has been pretty thoroughly colonized, and homogenized, by upscale chain stores.
The transformation doesn’t only happen to formerly-gritty, formerly-edgy neighborhoods, either. The New York Times reports that Madison Avenue is the latest location to undergo such delightful changes—changes that have helped the street shake off its post-recession malaise at the same time that retailers like Juicy Couture and J.Crew are not exactly brands that the most insular and upscale of all Manhattan shopping districts would have originally welcomed with open arms.
bpopper [at] observer.com | @benpopper
Fast Company published a sprawling feature today on the seismic disruptions underway on Madison Avenue, where traditional firms and players are finding themselves overthrown by digital upstarts. As writer Danielle Sacks puts it:
Most of the men and women here — average age: 38 — have worked at agencies for more than a Read More
Google was once famous for its lack of advertising. But today the search giant is installing a billboard in the world’s most famous ad space, Times Square, touting the value of its display ad business.
Google built itself around search advertising, and 90 percent of its revenue still comes from these text based ads. That Read More
Sometimes, the popularity of a certain expensive article of fashion can be measured by the number of women who, not having saved the money to purchase it, attempt to steal it.
This has been the case, recently, with the ubiquitous Herve Leger minidress (pronounced Er-veh, Ley-Jeh), that flab-friendly blend of rayon, nylon Read More
Disgraced Tour de France winner adopts an “I’m taking you all with me” stance [NYT]
“Beef Hampers Rap Museum.” [WSJ]
Third deputy mayor departs Bloomberg administration [WNYC]
Dumbo is the new Madison Avenue [WSJ]
Is The Good Wife the new Read More
Manhattan retail rents continued to fall in the first half of 2009, according to a report from CB Richard Ellis, reflecting an “ongoing weakness” that appears to be affecting retailers toward the higher end more than shops targeted to bargain hunters.
The toniest stretch of Madison Avenue, from 57th to 72nd streets, was the Read More
Steve Roth’s Vornado Realty Trust is suing the Milan-based designer store Krizia S.p.A. for $343,333.33, plus interest and potentially more, for vacating its space at 769 Madison Avenue before its lease expired and for failing to pay rent.
The lawsuit, filed in state Supreme Court on June 11, alleges that Krizia chose to extend its Read More
From Crain’s Cara S. Trager: "[W]ith sales of luxury goods hit particularly hard by the recession, nowhere is the impact being felt more acutely than on the gilded stretch of Madison Avenue running from East 57th Street to East 72nd Street. … In a sign of the distress, vacancies last year soared to Read More
Recession or not, when Erin Lima makes the trip from Philadelphia to New York City, “shopping is inevitable.”
“Every time you come here you have to,” she said, while browsing the handbag section of Bergdorf Goodman on Saturday with her husband in tow. “You can’t help yourself.”
The Limas and another couple Read More