Apple’s Fifth Avenue flagship store in the heart of New York City will soon have some competition. Microsoft has confirmed plans to open a flagship retail store of its own on Fifth Avenue, roughly five blocks away from Apple’s iconic glass cube.
The new store is the result of five years of planning on Microsoft’s part. It’ll be located at 677 Fifth Ave., a spot currently occupied by a Fendi shop in the center of a glitzy shopping corridor according to a report from The Wall Street Journal.
David Porter, corporate vice president for Microsoft retail stores, said this is a goal they’ve had since day one – they were only waiting for the right location. Now they have it.
Landing a retail spot in such a high-profile shopping district wasn’t easy or cheap. According to Cushman & Wakefield Inc., the average asking price for rent on Upper Fifth Avenue is $2,749 per square foot as of the second quarter. It’s a price that many are willing to pay for the opportunity to expose their brand to a high volume of wealthy shoppers.
As the first flagship store, Porter added, it will serve as the centerpiece of their Microsoft Stores experience. Chase Welles of SCG Retail said it’s an international location and Microsoft is an international brand.
Microsoft’s first flagship store will open for business sometime next year, Porter said.