Volume 19 Issue 42 | March 2 - 8, 2007

Where Canali goes, Gucci and Prada may follow

Lower Manhattan is proving to be well-suited for another high-end fashion retailer. The Italian suit-maker Canali will be putting down roots at 25 Broad St. with its first New York shop. The company, which signed a 10-year lease on the 2,600 square foot property, joins a growing number of high fashion shops on Wall St.

“You can get your cuff links at Tiffany’s, your scarf at Hermès, your shirts at Thomas Pink and your suits at Canali,” said Nicole LaRusso of the Downtown Alliance, which runs Lower Manhattan’s business improvement district. “You’d be the best dressed guy in town.” All the businesses have signed leases in the past year within blocks of each other.

LaRusso said there are reasons why companies such as Canali are lured Downtown as opposed to better-known shopping areas like Fifth Ave. “The rents are much cheaper but the clients are much the same,” she said. “It’s close to a customer base that doesn’t have time to shop after work.”

Canali will move into Wall Street Rising’s old information center space. The Downtown booster group has moved to 55 Exchange Pl.

Still, several vacant storefronts remain in the area. LaRusso said she hopes they will be filled by the end of the year, with companies such as Prada, Gucci, Graff and Cartier rumored to be interested.

— Chris Bragg

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