Numbers

Fifth Avenue

Fifth Avenue is one of the premier shopping streets in the world with such famous retailers as Apple, Bergdorf Goodman, Cartier, FAO Schwarz, Gucci, Harry Winston, Lord & Taylor, Tiffany & Co.,Van Cleef & Arpels, and, of course, Saks Fifth Avenue among many others.  It is located in Manhattan, one of the five boroughs of New York City.  In 2008, Fifth Avenue was ranked as the most expensive shopping street in the world in terms of rent in a report by real estate brokers, Cushman & Wakefield with average rents of $1,850 square feet per year ahead of (2) Causeway Bay, Hong Kong at $1,784, (3) the Avenue Champs-Élysées, Paris at $1,134, (6) Bond Street, London at $810, and (7) the Ginza, Tokyo at $794.

How It's Used

"But if designer fashions are what you crave, make a retail pilgrimage to New York’s Fifth Avenue or Los Angeles’ Beverly Hills. These tried and true destinations will empty your wallets and fill your closets with Prada and Versace, Gucci and Ferragamo. 'When you shop in New York, you need to have a strategy,' Tucker says. If you only have a few hours, you can get a taste of several designers with a stop into Fifth Avenue’s Bergdorf Goodman. Afterwards, wander down the street to classics such as Tiffany & Co., and Harry Winston."

“Since the 1990s, sales of luxury goods have exploded, along with the growth of a well-heeled new global elite, turning once little-known European brands into giants and transforming chic addresses like Fifth Avenue, Bond Street and the Champs-Élysées into veritable open-air malls for the upper middle class.”

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