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PVH Corp., the parent company of Calvin Klein, announced on its third-quarter earnings call that it plans to open a flagship store at SHVO’s 530 Broadway in SoHo. According to PVH CEO Stefan Larsson, SoHo is one of the top locations for brand-building and foot traffic in the world. The new store is expected to be operational by the end of 2025.
The retail space will cover an area of 7,294 square feet and is part of Calvin Klein’s global strategy to establish flagship stores worldwide. This move highlights a growing trend towards brick-and-mortar retail despite increasing online shopping options. Research firm Forrester predicts that about 72%of total U.S. retail sales will still take place in physical stores by 2028.
SHVO acquired three adjacent structures on Broadway and Spring Street in early-20th century complex back in 2020 with plans for mixed-use redevelopment.The project includes an office component designed by architecture firm Snarkitecture – their first office project ever completed.
Calvin Klein has announced its plan to open a flagship store at SHVO’s newly redeveloped building located at 530 Broadway in SoHo during PVH Corp.’s third-quarter earnings call.Parent company CEO Stefan Larsson described Soho as one of the most ideal places for brand exposure and high foot traffic globally.The anticipated opening date for this new location is set before December ends this year.
This expansive space measures over seven thousand square feet which serves as partof Calvin Klein’s grand scheme – establishing more prominent outlets across different countries.This decision also reflects how traditional brick-and-mortar shops are making a comeback amidst rising e-commerce trends.Accordingto research conductedby Forrester,a whopping seventy-two percent (72%)of all US-basedretail transactionswill continue happeningin physical establishmentsuntilthe year twenty-eighteen (2028).
The property situated along Spring Street was originally composed of three separate structures and was acquired by SHVO in 2020. The company has since led the redevelopment project, which now includes a mix of commercial and residential spaces.The renowned architecture firm Snarkitecture was also brought on board to design their first-ever office building for this development.
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