NYCEDC – NYC Business Climate – Success Stories

Success Stories

FASHION

HERMÈS USA


	There is going to be a whole new dynamic in that area. I wouldn't be surprised if it changes the way that people think about the financial district…All of a sudden, you have a three-pronged client base there. There are people who work there every weekday, then the obvious tourist traffic in the financial district in general, and now there are a growing number of residents. We wanted to be at the forefront.
	Robert Chavez, CEO, Hermès USA

1 of 1

BUSINESS NEED

Hermès sought to expand its presence in Manhattan beyond its flagship store in Midtown on Madison Avenue. Lower commercial rents in Lower Manhattan created a compelling opportunity for a second location. Also, post-9/11 redevelopment plans in the area spurred an infusion of high-end, upscale customers moving into residential units converted from unused office space. Hermes wanted to capitalize on the changing mix of shoppers downtown.

SOLUTION

In June 2007, Hermès opened a 5,400 square foot space in a development at 15 Broad Street that overlooks a pedestrian plaza facing the New York Stock Exchange.

RELATED LINKS

Fashion
Find information and resources related to New York City's Fashion industry.

NYC Facts & Figures
Get the stats on New York City’s population, wages, cost of living and more.

PUBLICATIONS

NYCVISION
View this newsletter outlining NYC economic development initiatives.

Economic Snapshot
Read our newsletter highlighting NYC employment, consumer spending, real estate and more.