×
28 058
Fashion Jobs
L'OREAL GROUP
sr. Analyst, Finance (l'Oreal Paris)
Permanent · New York
L'OREAL GROUP
sr Analyst - Finance (sg&a) Luxe
Permanent · New York
L'OREAL GROUP
sr Analyst - Commercial Finance (Cpd)
Permanent · New York
L'OREAL GROUP
Packaging Operator ii - up2
Permanent · North Little Rock
VICTORIA'S SECRET
Brand Operations Manager-Edgewater
Permanent · Biloxi
CENTRIC BRANDS
Manager, Production - Denim (Joe's Jeans And Hudson Jeans)
Permanent · Los Angeles
LANE BRYANT
Part Time Sales Manager
Permanent · Gloucester Township
SALLY BEAUTY CORPORATE
District Manager
Permanent · Sacramento
ROSS STORES
Store Protection Specialist
Permanent · Las Vegas
ROSS STORES
Store Protection Specialist
Permanent · Los Angeles
ROSS STORES
Store Protection Specialist
Permanent · Los Angeles
COTY
Assistant Marketing Manager, us Marc Jacobs Fragrance
Permanent · New York
NORDSTROM
Loss Prevention Security Ambassador Bellevue
Permanent · Bellevue
NORDSTROM
Loss Prevention Agent Aventura
Permanent · Aventura
NORDSTROM
Loss Prevention Security Ambassador Nordstrom Northshore
Permanent · Peabody
NORDSTROM INC
sr Maintenance Manager - Riverside, ca
Permanent · Riverside
NORDSTROM
Loss Prevention Security Ambassador Oakbrook
Permanent · Oak Brook
NORDSTROM
Loss Prevention Agent Oakridge Rack
Permanent · San Jose
NORDSTROM
Loss Prevention Agent Southcenter
Permanent · Tukwila
NORDSTROM
Loss Prevention Agent Chicago Maxwell Rack
Permanent · Chicago
NORDSTROM
Loss Prevention Agent Mission Valley Rack
Permanent · San Diego
NORDSTROM
Loss Prevention Security Ambassador Last Chance Phoenix
Permanent · Phoenix
By
Reuters
Published
Jun 22, 2020
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Valentino sues to close Fifth Avenue boutique in Manhattan, blames pandemic

By
Reuters
Published
Jun 22, 2020

Italian fashion company Valentino SpA has sued the landlord of its American flagship store on Manhattan’s Fifth Avenue, seeking to void its lease because the coronavirus pandemic has made keeping the store open impossible.


Valentino - Fall-Winter 2020 - Womenswear - Paris - © PixelFormula



In a complaint filed on Sunday, Valentino said the store, located two blocks south of Trump Tower, can no longer operate “consistent with the luxury, prestigious, high-quality reputation” of its neighborhood, as the lease contemplated.

Valentino told its landlord Savitt Partners it planned by year end to quit its lease, which began in 2013 and expires in 2029, but said the landlord wrote on Friday that it would not accept a surrender.

Savitt’s lawyer did not immediately respond to requests for comment. A spokeswoman and a lawyer for Valentino declined to comment.

The lawsuit in a New York state court in Manhattan is one of several between retailers such as Gap, H&M, Victoria’s Secret and the National Basketball Association and their Manhattan landlords after the pandemic forced store closures.

Valentino’s store is at the midpoint of a half-mile (0.8 km) stretch of Fifth Avenue from Rockefeller Center to the corner of Central Park containing many luxury retailers, with high rents.

Much of that stretch became dormant in mid-March, when New York officials closed “nonessential” businesses to curb the spread of the coronavirus.

Some restrictions were lifted on Monday, and some in-store shopping is now allowed.

But Valentino said shoppers have grown fearful of “in person, ‘non-essential’ luxury retail boutiques,” and that “even in a post-pandemic New York City (should such a day arrive)” the Fifth Avenue location was irreparably damaged.

Keeping the store open is “impractical, unfeasible and no longer workable,” it said.

On June 8, Victoria’s Secret, part of L Brands Inc, filed a similar case to void the $938,000-a-month lease for its flagship store in Manhattan’s Herald Square.

© Thomson Reuters 2021 All rights reserved.