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May 18, 2006
The Fifth Avenue Store Is Uncovered
Wish I had snapped a picture, but on the way into work this morning, I got my first glimpse of the Apple store on Fifth Avenue in Manhattan. It's an impressive-looking structure for sure. It was about 7 AM and a few dozen people were already lining up for the big opening. I'll be headed over shortly and will have more to say on the subject later. But the things I said last month about the Apple retail strategy and about the potential success of this store in particular still stand. One couldn't ask for a better location. For instance: Tiffany's flagship jewelery store is two blocks away, and sales at that store accounted for about 10% of its annual sales from 2003 to 2005. That would amount to a figure north of $200 million in each of those years. In other words, this store could be a very big deal of Apple's revenue.
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