Another Flagship Store In Fifth Avenue In New York Has Been Shut Down And Lord&Taylor Has Been Unable To Sustain It.

After more than a century of wind and rain, the flagship store of Lord & Taylor, the old luxury department store in New York, officially closed in January 2nd.

The store is located between 38 street and 39 street in Fifth Avenue, Manhattan, New York. It has been operating for 104 years since 1914. It is the first high-end department store in Fifth Avenue. It has 11 storeys and a basement, with a total area of 650 thousand square feet (60 thousand and 400 square meters).

This Renaissance flagship store in Italy was once a shopping mall in the retail industry, famous for its vibrant holiday display.

Lord & Taylor Fifth Avenue flagship store began selling clearance in October, including 6's fur coat, 80 percent off carpets, and some scattered watchbands and accessories.

The original price of $100 is only $5.99 for clothes.

The building was sold to the US shared office space giant We Work in 2017 for more than 850 million dollars.

According to the report last November, "WeWork" plans to pform the first floor, the first and the two levels into a new retail space different from the Lord / Taylor traditional department store mode. The rest will serve as a shared office space for WeWork and may become its global headquarters.

Although Lord & Taylor Fifth Avenue flagship store has been closed, there are 45 small Lord &Taylor department stores still open, mostly on the east coast of the United States.

Besides official website, Lord & Taylor brand merchandise will also be sold online through WAL-MART website.

The closure of Fifth Avenue flagship store marks the pformation of Lord & Taylor to online sales.

Lord & Taylor's parent company, Canadian Department Store Group Hudson "s Bay Co" (referred to as HBC), said that this is to "focus on grasping digital opportunities and improving profitability".

As of Thursday's close, HBC group's shares fell 2%.