Louis Vuitton Store Headed to Trump Organization Building
By Celia Young March 23, 2023 6:12 pm
reprints
Looks like Louis Vuitton is playing its Trump card.
The French luxury brand will relocate its store from 1 East 57th Street across the street to 36,000 square feet at the Trump Organization’s 6 East 57th Street while 1 East 57th undergoes renovations, the New York Post reported. LVMH — Louis Vuitton’s parent company — signed a five-year deal for the space with an asking rent of around $20 million a year, the Post reported.
The Trump Organization, LVMH and LVMH’s broker Robin Zendell did not immediately respond to requests for comment.
Louis Vuitton will take over the storefront from LVMH subsidiary Tiffany & Co., which was on a sublease with Nike for the 6 East 57th space while Tiffany added new elevators, a glass penthouse and an outdoor terrace to its nearby 727 Fifth Avenue store.
Ex-president Donald Trump and Alexandre Arnault, son of LVMH owner Bernard Arnault, handled the deal themselves, the Post reported. Trump previously posted on his social media site Truth Social that the two had met at his Mar-a-Lago resort in Palm Beach in February.
“It was great having Alex Arnault of LVMH, and his wonderful wife, Géraldine, for dinner at Mar-a-Lago,” Trump wrote on Truth Social on Feb. 15. “We were celebrating the deal we made on the former Nike Store on East 57th Street and Fifth Avenue. Alex is very excited about the reopening of Tiffany.”
But that’s not the only big deal on the horizon for LVMH. The fashion giant is reportedly in talks to consolidate its U.S. headquarters at 1 East 57th Street and 19 East 57th Street and relocate to the Olayan Group’s 550 Madison Avenue, though the deal has not yet closed, the Post reported.
Celia Young can be reached at cyoung@commercialobserver.com.
