29 Stores Opened on Madison Avenue in Second Half of 2022

MADISON AVENUE’S NEW STORE REPORT RELEASED FOR THE 2ND HALF OF 2022

VISITOR TRAFFIC IS UP, AND VACANCIES CONTINUE THEIR DOWNWARD TREND

NEW YORK, NY (January 23, 2023) – More new businesses opened on Madison Avenue between East 57 and East 86 Streets during the second half of 2022 than during any other period in memory. New store openings reached a crescendo pace in December 2022. According to data prepared by Placer.ai, the number of visitors to this section of Madison Avenue increased 6.67% in December 2022 from December 2021. Store vacancy rates continue to decrease as well, falling ten percent since the summer. Right now, the vacancy rate within the Madison Avenue BID (the Avenue and its adjacent side street locations) is approximately 12.8 percent (down from 14.2 percent in the summer).

“From the gala unveiling of the Hermès Maison in September, to the openings of Irene Neuwirth and Kirna Zabête during the same week in late December, the thirty new shop openings on Madison Avenue during the second half of 2022 gave our clients another exciting new business to experience almost every week,” said Matthew Bauer, President of the Madison Avenue Business Improvement District (B.I.D.).

“Time and again, we hear from stores opening on the Avenue how much their client base is centered here in our community. Our loyal, local clients are joining an increasing visitor population, as tourism continues to grow at our elegant hotels and the Upper East Side’s many museums, galleries, and of course, Central Park.”

“The first new business to open in 2023 is the stunning new Versace flagship at 747 Madison Avenue, at the corner of East 65 Street. They are part of a roster of 28 businesses, including four restaurants, that are under development on Madison Avenue at the start of the new year. Also of note is Richemont’s significant re-investment on Madison Avenue as A. Lange & Sohne, IWC, Panerai and Peter Millar are currently building new flagships within our district. The new stores will join other Richemont brands already on Madison Avenue including Buccellati, Chloe, Jaeger-LeCoultre and Montblanc.”

The following 29 businesses opened new locations on Madison Avenue during the second half of 2022:
45RPM Studio (fashion & accessories): 22 East 65 Street
A.P.C. (fashion & accessories): 1157 Madison Avenue
Achille Salvagni Atelier (home décor): 817 Madison Avenue
Alison Lou (jewelry): 994 Madison Avenue
Altuzarra (fashion & accessories): 959 Madison Avenue
Anine Bing (fashion & accessories): 801 Madison Avenue
Asprey (fashion & accessories, home décor): 678 Madison Avenue
Baobab Collection (home décor): 1015 Madison Avenue
Dr Barbara Sturm (skincare & wellness): 1006 Madison Avenue
Fusalp (fashion & accessories): 625 Madison Avenue
Hermès Maison Madison (fashion & accessories, home décor): 706 Madison Avenue
Irene Neuwirth (jewelry): 937 Madison Avenue
Isabel Marant (fashion & accessories), 677 Madison Avenue
Ivar Jewelry (jewelry): 29 East 73 Street
John Elliott (fashion & accessories): 853 Madison Avenue
Kirna Zabête (fashion & accessories): 943 Madison Avenue
Kiton (fashion & accessories): 692 Madison Avenue
L’Objet (home décor): 950 Madison Avenue
Luxembourg + Co. (art galleries): 595 Madison Avenue
Paige (fashion & accessories): 958 Madison Avenue
Reinstein Ross Goldsmiths (jewelry): 21 East 67 Street
Ring Concierge (jewelry): 946 Madison Avenue
Sid Mashburn & Ann Mashburn (fashion & accessories): 926 Madison Avenue
Sprüth Magers (art galleries): 22 East 80 Street, 2nd Floor
Stefano Ricci (fashion & accessories): 49 East 57 Street
The Invisible Collection (home décor): 24 East 64 Street
Tulipan Gallery of the Reka Darida Foundation (art gallery), 1065 Madison Avenue
Wolford (fashion & accessories), 609 Madison Avenue
Zadig & Voltaire Flagship (fashion & accessories): 845 Madison Avenue

The following 28 businesses currently have locations under development or have opened in early 2023:
A. Lange & Sohne (watches), 709 Madison Avenue
Anne Fontaine (fashion & accessories), 723 Madison Avenue
Casa Tua (restaurant), 20 East 76 Street
Collezione New York (fine wines & spirits), 786 Madison Avenue
Elyse Walker (fashion & accessories), 926 Madison Avenue
Frette (linens & home décor), 806 Madison Avenue
Giorgio Armani (fashion & accessories), 760 Madison Avenue
Ippolita (jewelry), 719 Madison Avenue (opened on January 21, 2023)
IWC (watches), 645 Madison Avenue
Jaeger-LeCoultre (watches), 729 Madison Avenue
John Lobb (shoes), 698-700 Madison Avenue
Kaspia (restaurant), 992 Madison Avenue
Lalique (home décor), 21 East 63 Street
Lanvin (fashion & accessories), 855 Madison Avenue
LGDR (art gallery), 19 East 64 Street
Michael Kors (fashion & accessories), 667 Madison Avenue
Myconian House (restaurant), 25 East 83 Street
Panerai (watches), 711 Madison Avenue
Pat Saling Jewel Collection (jewelry), 28 East 72 Street
Paul Morelli (jewelry), 725 Madison Avenue
Peter Millar (fashion & accessories), 645 Madison Avenue
Robin Birley Dining Club, 850 Madison Avenue
Serafina (restaurant), 1022 Madison Avenue (expansion)
The Surrey Hotel, 20 East 76 Street
Valentino (fashion & accessories), 654 Madison Avenue
Versace (fashion & accessories), 747 Madison Avenue (opened on January 9, 2023)
Vhernier (jewelry), 994 Madison Avenue
White Cube (art gallery), 1002 Madison Avenue

Contacts: Matthew Bauer, President of the Madison Avenue Business Improvement District (BID), 212-861-2055, mbauer@madisonavenuebid.org

Amy Rosi, AROS Communications, 917-940-9763, arosi@aroscommunications.com
www.MadisonAvenueBID.org
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