By Bethany Biron.
Chances are that if you stumble upon a new store in SoHo, it won’t be there in a few months.
SoHo — a portmanteau that stands for South of Houston Street, the neighborhood nestled across 26 blocks in lower Manhattan — has long been known as a hip destination for shopping and art. Since the 1950s, when artists began flocking to its cobblestone-paved streets in search of lofts and workspaces, SoHo has been shrouded in an aura of trendiness. For several decades, boutiques and major retailers alike set up shop in SoHo, hoping to entice upscale customers and tourists looking to splurge.
However, as rents have continued to soar, the artists that once dominated SoHo have increasingly fled for cheaper spaces in New York’s outer boroughs, while luxury brands have begun shuttering storefronts to cut down on overhead. These shifts, perpetuated by retail challenges occurring on a national level, have made way for the rise of pop-ups, ephemeral experiential stores often used by emerging retailers to test out products and strategies.
Read more at Glossy.