"Cheap Fashion" Gradually Occupies The US Fifth Avenue.

Foreign retailers selling "cheapchic" products are opening up new territories in New York's Fifth Avenue.

The changing shopping habits of prudent consumers also changed the shopping street, once a luxury symbol.

Spain's Inditex bought a $324 million building on Fifth Avenue last month. It will set up a Zara flagship store in the next few weeks, while Japan's FastRetailing launched a 15 year lease agreement with more than $300 million, and plans to open a new one in the autumn.

The two companies will be high-end with Tiffany (Tiffany), BottegaVeneta, and Prada (Prada).

The so-called "high-low" shopping model was born in the economic downturn of the past 20 years in Japan.

In the recession triggered by the financial crisis, this shopping mode has also taken root in Europe and the United States.

But in many big cities, luxury shopping areas are still independent.

Jo Sitte, President of Real Estate Company ThorEquities, said that while Zara, UNIQLO and Hennes&Mauritz became global brands in the mass market, many American retailers had been reluctant to go global. (JoeSitt)

ThorEquities bought a building in Fifth Avenue last year for $142 million.

SETRA said: "they (non US brands) have more executive power than retailers in the US.

Now they are coming to the United States. "

Real estate agencies said that the stores that sold 40 dollars a pair of jeans and $10 a T-shirt did not devalue Fifth Avenue, but enhanced their attractiveness to shoppers, pushing up the rental of the street in a depressed retail real estate market.

According to the New York real estate bureau (RealEstateBoard), by the end of last year, the average rent of shops in the busiest section of Fifth Avenue (between 49 street and 59 Street) had risen from 1400 US dollars per square foot during the worst financial crisis to 2367 US dollars.

YasunobuKyogoku, chief operating officer of UNIQLO, said UNIQLO wanted to enter Fifth Avenue because "it is a landmark in the world".

Zara has opened a smaller store in Fifth Avenue.

Sweden's H&M opened a store in Fifth Avenue in 2000.

"There is a synergy between Luxury Retailing and fast fashion," said Joanne Podeur, executive vice president of Cushman&Wakefield, a real estate brokerage firm (JoannePodell).

A H&M T-shirt can look cool with a Armani (Armani) jacket.

People no longer have prejudice. "

The most dazzling brand in Fifth Avenue is Tiffany, the 1961 BreakfastatTiffany s, which made this jeweller famous.

Across from Tiffany is the Abercrombie&Fitch, a teenage clothing store in America, famous for its deafening music and staff's cool clothes.

FaithConsolo, director of PrudentialDouglasElliman retail leasing department, said luxury brands would not look down on cheap neighbors: "customers who buy small gifts bring passenger growth.

Tiffany did the most business was the key ring, not the wedding ring.