Philip Green, British billionaire and holder of 12% of the UK clothing retail market, is scouting Manhattan for Top Shop's second location in America (with one already frantically & thoroughly rifled through on Broadway in SoHo). He is eyeing the empty spot at Fifth Ave and 53rd Street (left empty by Brooks Brothers). With only 2 locations open on this 10-block stretch, it is highly saught after. This is a location that apparently rents for $30 million a year. His competitors are said to be Uniqlo (the Japanese equivalent to a Gap & H&M amalgam, already a neighbour in their SoHo sites), Zara, and Forever 21. And even with the recession, tourists continue to peruse and shop, due to the weak US dollar and escapist activity of consumerism.
It is also interesting to note that the further north along 5th and madison ave you go, the swankier the stores become. From the potential TopShop at 53rd, Abercrombie at 57th, to Bergdorf Goodman at 58th, Jimmy Choo at 63rd, Bulgari 66th, Cartier 69th... It's like the hierarchical stratum of luxury in urban retail planning.
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