COS to replace H&M on Fifth Avenue
The odds of H&M closing stores this year seemed very slim after the company announced that it would open 400 stores around the world. This week defied those odds since the company’s Fifth Avenue location on 42nd Street appears to have closed down. Though the Swedish fast fashion retailer has moved out of the space, its higher end brand, COS, will move into the 24,000-square-foot location.
COS confirmed that it will open the doors to its first Midtown Manhattan location but did not provide an opening date. H&M is expanding the Manhattan footprint of two retail formats that are relatively new to the U.S., COS and & Other Stories. COS, which first opened in London in 2007, opened its first store in New York City on Spring Street in SoHo last year, and it already has its sights set on the world famous Fifth Avenue.
H&M, on the other hand, is down to just two stores on Fifth Avenue, in Midtown and in Flatiron. The company also opened a new flagship location on Herald Square and has announced plans to open two stores in Miami. It is also joining a number of brands opening stores in India this year.
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