The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
NEW YORK, United States — Macy's Inc. is seeking to sell stakes in its flagship stores, including its landmark building on Manhattan's West 34th Street, one of New York's top tourist attractions.
The largest U.S. department-store company said it has hired Eastdil Secured LLC, a real estate investment bank, to “approach potential interested parties” about forming partnerships or joint ventures for the Manhattan locale as well as downtown stores in San Francisco, Chicago and Minneapolis, plus its mall- based properties. Tishman Speyer has expressed interest in taking stakes in the four flagship stores, Macy’s said in a statement.
Credit Suisse Group AG and Goldman Sachs Group Inc. will assist Eastdil in advising the company on the potential partial-interest sales, Macy’s said.
By David M. Levitt, Lindsey Rupp; editors: Daniel Taub, Christine Maurus, Josh Friedman.
From analysis of the global fashion and beauty industries to career and personal advice, BoF’s founder and CEO, Imran Amed, will be answering your questions on Sunday, February 18, 2024 during London Fashion Week.
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Imran Amed reviews the most important fashion stories of the year and shares his predictions on what this means for the industry in 2024.
After three days of inspiring talks, guests closed out BoF’s gathering for big thinkers with a black tie gala followed by an intimate performance from Rita Ora — guest starring Billy Porter.