Madison Avenue BID sees retail growth for H1 2016

Illustration of Smython’s Madison Avenue boutique

With sky-high rents for storefronts on Fifth Avenue, luxury retailers are beginning to relocate and revamp on nearby Madison Avenue.

For the first half of 2016, the Madison Avenue Business Improvement District (BID) reports that 18 high-end and luxury brands opened boutiques between East 57th Street and East 86th Streets along Madison Avenue. The Madison Avenue BID works to increase foot traffic to stores on the New York high street through various themed events held throughout the year.

Won’t you be my neighbor?
Between the dates Jan. 1 and June 30, nearly 20 brands opened new stores on Madison Avenue. The new store debuts were dominated by apparel and accessories openings from top brands.

Newcomers to Madison Avenue included Aquazzura, IRO, Isabel Marant, Lukure, Morgenthal Frederics Opticians, Moynat (see story), Rag & Bone, Saint James, Smythson of Bond Street (see story), Sonia Rykiel, Sweaty Betty, The Row and Veronica Beard.

Others outside of fashion and accessories included Aurelie Bidermann jewelry, De Beers (see story), antique dealer S.J. Shrubsole and confectioner Sugarfina. The Opera Gallery also opened at 791 Madison Avenue.

Christian Louboutin’s Madison Avenue boutique, photo by Nick Rochowski 

“The first half of 2016 was a period of sustained investment on Madison Avenue,” said Matthew Bauer, president of the Madison Avenue BID, in a statement.

“In addition to our roster of new retailers, we are also pleased about the major expansions by existing Madison Avenue businesses during this period, including Christian Louboutin (see story), Di Donna Gallery, Giuseppe Zanotti and Jimmy Choo,” he said.

“The March 2016 inauguration of the Met Breuer museum at 945 Madison Avenue was an important moment in the city’s cultural history, and shall create countless memorable experiences for the New Yorkers and travelers enjoying the museum’s exhibitions and public programming.”

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