(NEW YORK, NY) — Tommy Hilfiger is officially putting its focus on digital consumers.
The company will close its 22,000-square-foot flagship at 581 Fifth Avenue, joining the long-list of retailers that have abandoned the famous shopping strip.
Last year, the popular brands Gap, Henri Bendel, and Lord & Taylor closed flagship stores on the avenue.
“Observers speculate it’s because consumers are shopping online instead, but we’re seeing even more expensive and less approachable brands opening up in Hudson Yards to great success. It’s clear that Fifth Avenue itself has lost some of its luster with customers,” said the CEO of Retail Doctor, Bob Phillips, to Fox Business.
Fifth Avenue is undoubtedly changing. Last year, the popular discount store, Five Below, opened a storefront on the pricey avenue.
As for Hilfiger, the company also announced the closing of its Miami storefront on Collins Avenue.
“We will focus on next generation retail experiences and partnerships to stay ahead of today’s continuously changing shopping habits and preferences,” said the chief executive of global at Tommy Hilfiger, Daniel Grieder, in a statement to WWD.