A UK-based e-tailer, boohoo.com, has chosen Manhattan for its first brick-and-mortar store, and signed a 2,000-square-foot lease at 3 W. 13th St. by Union Square.
A Cushman & Wakefield retail team led by Joanne Podell, Brandon L. Singer and Aylin Gucalp represented the brand.
The store will become an experiential space that will serve as a showroom, an event space and digital storefront while providing offices for its marketing team.
Owner Joseph Cvek worked the deal directly, with an asking rent of $110 per square foot.
Founded in 2006, boohoo.com is now one of the world’s fastest-growing e-tailers, with cutting-edge and affordable apparel targeted to those 16 to 24 years old.
Among its current products are “bum packs,” as the ubiquitous yet practical and almost robber-proof fanny pack returns to free the hands of the mobile athleisure generation.
In the US, according to eMarketer, total retail e-commerce is expected to increase this year by 16.1 percent, to reach $398.4 billion, or 8.2 percent of total US retail sales.
Meanwhile, eMarketer predicts sales made on mobile devices, known as m-commerce, will have a 29.1 percent share of the US e-commerce market and total $115.92 billion, up 43.2 percent over last year.
Total retail sales in the US this year will reach $4.8 trillion, up 2.9 percent over last year, and everyone wants a share.
