Luxury luggage brand Tumi to debut new concept store
Tumi will unveil a new retail concept this spring in New York City.
Real estate company Newmark said it has secured a long-term lease for the upscale luggage brand at 25 East 34th Street, which is the ground floor retail space of 180 Madison Ave., in Manhattan. The 5,189-sq.-ft. showroom and retail space will sit adjacent to the recently signed Tumi headquarters at 16 East 34th Street.
"This isn't a typical Tumi location,” said Newmark executive managing director Ross Kapan, who represented PGIM Real Estate on the transaction.
“They wanted to incorporate an exciting showroom close to their headquarters.”
Tumi worked collaboratively with Eight Inc., a developer in Apple stores, to develop a design concept for the store that brings visitors on a modern journey that will engage customers with the newest product lines. Spanning more than 5,000 sq. ft. across three levels, the new location will feature an airy, sophisticated design with interactive components, including a viewing area, a photography studio, modular shelving and displays, a demo table, a magnetic wall and a personalization bar.
Tumi’s recently secured Manhattan office is a sprawling 20,000-sq.-ft. duplex penthouse-turned-global creative hub, functioning as the company’s showroom and New York City executive offices.
Kaplan added that the entire 34th St. corridor has seen an increased elevation of the types of retailers opening in the area.
“We believe the opening of Tumi on 34th Street further solidifies the upward trajectory we see in the neighborhood,” he said.
Q3 Leasing Activity
According to a recent retail report from Newmark Research, the third quarter experienced a strong quarter of leasing activity, bringing year-to-date velocity up to 1.9 million square feet, surpassing the past two years combined.
The leasing actively driving this quarter spans diverse industries, including big box retailers, entertainment concepts, high-end restaurants, apparel accessories and luxury retailers. Availability rates for retail spaces also decreased or were flat in nine of the ten core trade areas year-over-year.