Macy’s will spend in excess of $400million to renovate its Manhattan flagship store. This will include adding about 100,000 square feet of selling space with a final total of about 1.2 million square feet.
Renovations commenced this March and will be completed, tentatively, Fall 2015.
What to expect:
-A 63,000 square foot second-floor shoe store with 39,000 square feet devoted to selling space and 24,000 square feet for storage.
-A ground-floor luxury hall of designer shops, including a three-level Louis Vuitton boutique.
-An expansion of the men’s store to 200,000 square feet over 7 floors.
-A full-on interior/exterior renovation that will put this Macy’s store on par with some of the world’s best department stores.
We’ll be watching this renovation closely to see what new brands will embrace the new Macy’s, especially after multiple brands (Dolce & Gabbana, Prada, Jimmy Choo) left current Macy’s locations in Chicago and Minneapolis after the Macy’s conversion of those former downtown Marshall Field’s locations.