July 26
14:11
2016
The former FAO Schwarz flagship on New York City’s Fifth Avenue has signed on a new tenant.
On a conference call with investors following its second-quarter earnings report, Under Armour CEO Kevin Plank said the athletic wear company would be moving into the 53,000-square-foot flagship store. It’s part of the firm’s strategy to use “landmark retail space” to tell the Under Armour story and build its brand and sales.
FAO Schwarz exited the costly retail space last year. Under Armour likewise confirmed rumors that it would expand its distribution in 2017 into Kohl’s, where competitor Nike already sells its merchandise.
“Under Armour is a growth company,” Plank told investors.
