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Insider Ties: Why Is Nike Buying Up NYC?

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Nike is swooshing into a huge, 70,000 square-foot store at 650 Fifth Ave. on the southwest corner of West 52 Street — across from Cartier and Olympic Tower.The deal is valued at $700 million over

Source: Nike to move into 70,000 square-foot Fifth Ave. store | New York Post

Nike is adding another store in NYC. This isn’t news to be honest. Nike has been doing more to advance their DTC model and this just falls in line with the multichannel distribution model. According to this article however, there is a Nike store just North of this location that was renewed until 2022. Add in the Soho store that just opened and Nike seems to be covering every location near a flagship store for other brands. When You consider Under Armour is opening a flagship at the FAO Schwartz store location and adidas has a flagship and Soho store, the brands are preparing for battle beyond the sports world and going old school brick and mortar to compete for every dollar in the sports market. Click the Source link to read more.