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.
Former President Donald Trump’s company sued footwear maker Marc Fisher, whose showroom occupies the 21st floor of Trump Tower in New York, for more than $1 million in rent dating back to November.
Trump Organization Inc., in a complaint filed Wednesday in state court in Manhattan, seeks a court order forcing Marc Fisher to pay almost $1.47 million under a 2015 lease for the entirety of the 21st floor and part of the 22nd floor. The monthly rent is $144,936, with a security deposit of almost $49,000, according to court documents.
Marc Fisher didn’t immediately respond to an email seeking comment on the suit.
The lawsuit underscores the pressures confronting commercial real estate owners, including the Trump Organization, as the pandemic enters its second year. The retail availability rate for the upper portion of Manhattan’s Fifth Avenue was 23 percent in the fourth quarter, according to Cushman & Wakefield.
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Around the corner from Trump Tower, Tiffany & Co. isn’t extending a lease for 74,000 square feet of retail space owned by the Trump Organization, people familiar said last month. Donald Trump owns a triplex apartment in the 58-story tower, which served as the backdrop for the launch of his presidential campaign in 2015.
Fisher made Ivanka Trump shoes under a license until she shut down her fashion line in 2018. It was the third-largest tenant in Trump Tower as of July 2019 after Gucci America Inc. and the Trump Org.
By Chris Dolmetsch
The British musician will collaborate with the Swiss brand on a collection of training apparel, and will serve as the face of their first collection to be released in August.
Designer brands including Gucci and Anya Hindmarch have been left millions of pounds out of pocket and some customers will not get refunds after the online fashion site collapsed owing more than £210m last month.
Antitrust enforcers said Tapestry’s acquisition of Capri would raise prices on handbags and accessories in the affordable luxury sector, harming consumers.
As a push to maximise sales of its popular Samba model starts to weigh on its desirability, the German sportswear giant is betting on other retro sneaker styles to tap surging demand for the 1980s ‘Terrace’ look. But fashion cycles come and go, cautions Andrea Felsted.