Should the decision to open or close a flagship store differ, in your mind, from other chain locations? Do you think Lord & Taylor, Ralph Lauren or Gap will come to regret closing their flagships?
Interactive Edge’s CEO, Zel Bianco comments:
Lord & Taylor was a great store and there is nothing else like it in Manhattan, at least in its price range. It was a store that was civilized and so easy to shop compared to Macy’s. The people on the floor were always so helpful. I really hated to see it go. There are other locations in and around the NY Metro area but this was THE store. I do think that closing a flagship store like L&T on Fifth Ave. should be considered as a last resort but how can you argue with the fact that the real estate was more valuable than the store itself, by far? Now it is just going to be another WeWork, big deal! I don’t think they will have the nice helpful ladies in the jewelry department to help me pick out a nice present for my wife or daughter. People will no longer line up at Christmas to see the beautifully decorated windows. It is very sad.
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