The Japanese clothing store Uniqlo will soon have more than one outpost in the United States. Granted, it's also going to be in New York.
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The company signed the city's most expensive retail lease ever: more than $300 million for 15 years for a prime spot on Fifth Avenue, where it will build its newest — and largest — branch.
The store will occupy more than 22,000 square feet of the first and second floors of 666 Fifth Ave., located between 52nd and 53rd streets. They will also occupy more than 70,000 square feet of the third floor, which was previously used as office space.
Known for its affordable clothing, the only Uniqlo currently in the United States has been in SoHo since 2006. In 1984, the company was established in Hiroshima, Japan, and currently has more than 760 stores worldwide.
NYU's fashion business association president Erica Eng said the opening of a new location is in stark contrast to the current fashion climate in which stores are closing their doors because of unaffordable rent. She also said she thinks the location will be good for the company, and that the market for brands like Uniqlo is growing.
"Fifth Avenue has always been this high-end, very prestigious street, so [Uniqlo] being in two very influential areas of the city creates a very good exposure for the company," Eng said.
For many NYU students, however, the new store won't be enough to draw them up to the Midtown location. CAS junior Danielle Troumouliaris said she would much rather shop at the Uniqlo store in SoHo.
"All the stores in SoHo are more moderately priced, especially on a college budget," she said.
CAS freshman Cena Choe, on the other hand, prefers the new location.
"I do all my shopping in Midtown anyway," Choe said. "SoHo is too crowded for me."
