Puma is re-entering the fray in Manhattan.
The sports brand said Thursday that it has signed a long-term lease with SL Green Realty Corp. for a 24,000-square-foot space at 606 Fifth Avenue. The store on the corner of 49th Street is located across the street from Saks Fifth Avenue in one of the city’s prime retail shopping strips.
The three-level store, which will sport Puma’s “Forever Faster” store design, will feature a double-height storefront and 160 feet of wraparound frontage. The opening date was not disclosed.
Puma had at one time operated three stores in Manhattan, but those were closed.
Bjørn Gulden, chief executive officer of Puma, said: “We are incredibly proud to open the first Puma brand store for North America at this iconic location on one of the most prestigious streets in the world. For the past several years, Puma has been focused on becoming the fastest sports brand in the world and we feel now is the perfect time to show the world who we are. We are going to build an engaging brand experience that we will all be very proud of.”
Brett Herschenfeld, managing director for SL Green, added, “Fifth Avenue will always be the destination for world flagships among global retailers. We are proud to form this partnership with Puma, and look forward to ensuring that this distinguished corner continues to thrive as a destination. The retail market in New York City continues to attract the best of both new and established brands.”
The Herzogenaurach, Germany-based Puma was established over 65 years ago and is part of a company that also owns Cobra Gold and Dobotex. In April, it reported that operating results in the first quarter rose to around 112 million euros compared to 70 million euros for the first quarter last year on sales of gain of 12 percent to 1.13 billion euros.
In New York City, Puma will join Nike, which operates a large store on 57th Street, as well as Adidas, which is located at 565 Fifth Avenue, and Asics, which just opened a flagship a few blocks at 579 Fifth Avenue.