FIFTH AND RED?: Valentino is said to be mulling a second New York boutique at a high-profile location: 693 Fifth Avenue, the former home of Japanese retailer Takashimaya. Asked about the prime real estate at the Valentino show on Tuesday, chief executive officer Stefano Sassi said, “We’re evaluating the space,” but stressed no deal has been signed.

Meanwhile, this summer, Valentino will open a new-look boutique in a townhouse on Madison Avenue between 68th and 69th Streets after operating in a temporary location.

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This story first appeared in the March 6, 2013 issue of WWD. Subscribe Today.