With the opening target fast approaching, The formerly bare-bones space in Union Square that used to be home to Virgin Records has been seeing signs of life: Racked reported crews earlier this week hanging official signage outside the massive store -- always a promising sign.
On the other hand, CNBC.com interviewed analyst Christine Chen on whether Nordstrom's choice to debut a New York presence with its discount offshoot would end up hurting the brand in the long run. CNBC.com points out that the upscale department store only decided to open the Union Square Rack outpost after failing to secure a posh Park Avenue spot for its main store. "You're making your debut in Manhattan with an outlet store? I find that a little bit odd," Chen told CNBC.com. "I just kind of wonder what that does to the Nordstrom brand."
A Nordstrom spokesperson countered that the brand still has eyes on opening a Nordstrom outpost in Manhattan, and what's more, "We've found that the two stores really complement each other."
Considering the brand recognition Nordstrom already has among stylish folks in the city, we'd be surprised if the new Rack doesn't become a force to be reckoned with, though we'd still welcome an upscale Nordstrom in the near future as well.