Swarovski has signed a lease to open a flagship on Manhattan’s Fifth Avenue next year, WWD has learned.
To be located at 680 Fifth Avenue by 54th Street, the two-level flagship will be 14,000 square feet, with more than 150 feet of double-height wraparound exposure and frontage, and is scheduled to open in November 2023.
Swarovski previously had a store at 696 Fifth Avenue, which closed and was not considered a flagship, according to the company.
“The flagship will be located on Fifth Avenue in New York and is a huge milestone for the brand, as it expands with flagships across the globe,” the company indicated in a statement provided to WWD.
In New York City, Swarovski has seven stores, among them freestanding units in Rockefeller Center, Penn Plaza and in SoHo, as well as in-store shops. There are 200 Swarovski stores in the U.S.
Last year, Swarovski launched a “Wonderlab” retail concept and unveiled in Zurich a colorful flagship, on Bahnhofstrasse Avenue, as reported by WWD. Creative director Giovanna Engelbert called the flagship “an evolution, so after having [products presented] vertically, I wanted to have a more tactile experience, in a living room in this spaceship-meets-candy-store-meets-jewelry-box.”
The 127-year-old Austrian maker of crystal, watches, jewelry and gifts has been undergoing a transformation involving a reboot of its brick-and-mortar store network, including some right-sizing and redesign of existing stores, an overhaul of its offerings, and a recent management shake-up, including the departure of Nadja Swarovski from the business in December, though she continues as chair emeritus of the Swarovski Foundation.
The company was founded by Nadja Swarovski’s great-great-grandfather Daniel Swarovski in 1895.
The site at 680 Fifth Avenue plans a massive repositioning and renovation involving relocating the office lobby to 54th Street from the avenue, and a brand new façade and “a highly transparent and visible new storefront,” according to a Swarovski statement.
“Swarovski is going to be the anchor of the redevelopment at 680 that will improve the long-term viability of the office building well into the future. We are so pleased that they have chosen this location to showcase their Wonderlab concept, which is a new chapter for this well-established brand that dates to 1895,” said Roy Bajtel, principal at Valor Capital Partners, who manages the asset for the landlord and who will be overseeing the project.