As Canadians await the transformation of tired Zellers stores into bright new Target retail havens (assuming they can ward off that pesky name lawsuit), south of the border Canadian cheap and chic retailer, Joe Fresh, seems to be planning its second U.S. location in New York City’s Flatiron District before its first has even opened. With all the fast fashion already well established in the Big Apple, the pressure on Joe to compete with the likes of H&M, Zara and Uniqlo will be fierce, but so far, it seems to have chosen its real estate well.
It’s first confirmed location will be at 510 Fifth Avenue. It will be housed in the historic glass box building on the corner of 43rd Street and is expected to open in the Fall of 2011. This location will benefit from the influx of new fashion stores filling the space left behind by the casualties of the recession like banks and independent shops. The location is close enough to tourist attractions like Grand Central Station that it may see cash flow in from travelers too.
The second location (although this one has yet to be confirmed) is 110 Fifth Avenue, a former Esprit store in the Flatiron district. This part of the city also took hits to retail during the downturn, but rents are beginning to climb back up, and hot retailers like Michael Kors have moved in. If Joe Fresh is indeed ready for a second location, this iconic building could be its ticket to launching a competitive new frugalista haven.