Italian fashion house Prada, which is preparing for an initial public offering of about $2 billion in Hong Kong, said it plans to use most of the proceeds on expansion and renovation of its stores over the next 18 months.
Cushman & Wakefield announced that Stella McCartney, the fashion and accessories retailer and daughter of Paul McCartney, will open a new store at 112 Greene Street between Prince and Spring Streets, in the SoHo area of Manhattan.
Wal-Mart will debut its Walmart Express format on June 8, in Gentry, Ark. The 15,000-sq-.ft.-store will sell many of the product categories that a traditional Walmart carries, from general merchandise to consumables.
New York City remains the world’s most expensive retail destination as retailers focus on the major fashion capitals pushing global rents in prime locations even higher, according to the latest CB Richard Ellis (CBRE) Global Retail MarketView.