Manhattanites had little love for the $25 billion megaproject when it opened five years ago (the pandemic lockdowns didn't help, either). But a constantly shifting mix of stores, restaurants and experiences is now drawing large numbers of both locals and tourists.

Informa Markets Fashion has transitioned to Mmgnet Group and launched Mmgnet, its new parent brand, as the company innovates and expands its business model. Building on its heritage as a fashion industry connector, Mmgnet is an insights and inspiration resource for executives and stakeholders. BoF learns more from president Kelly Helfman and vice president of marketing, Teodora Nicolae.

At least not in the traditional sense. A soon-to-launch Berlin flagship will sell stuff, but it’s brand partnerships that are expected to make the company’s latest retail experiment work.

The slew of blockbuster deals from LVMH, Kering and Prada are proving to be a bright spot in an otherwise tough commercial property market.

The trend marks a break from the past, when Nike retailers enjoyed the ability to sell through their Nike inventory at full price.

More than a handful of brands confirmed reports of chronic late payments that sparked some vendors to halt shipments to the US department store. Owner Hudson’s Bay Company said it raised $340 million to help fund its retail operations.

With specialist stores like Shen Beauty shuttering, and Farfetch selling off Violet Grey, a cloudy future looms for cult retailers.

The big-box retailer is revamping its apparel offering in a bid to become a style destination, a goal it’s tried — and failed — to hit multiple times before. But between a squeezed consumer and the rise of Gen-Z, this time is different, the company says.