<b>Retailers</b> from Gap to Ralph Lauren are giving up on their flagship stores — and experts say others ... | RetailTechPodcast

Retailers from Gap to Ralph Lauren are giving up on their flagship stores — and experts say others ...

At the end of 2018, Gap Inc. CEO Art Peck said the company would be closing hundreds of Gap stores this year, including flagship locations. Ralph Lauren closed its Fifth Avenue Polo flagship store in 2017, though its Ralph Lauren flagship on the Upper East Side is still open. Calvin Klein plans to shutter its nearby Madison Avenue flagship this spring and Lord & Taylor closed its flagship store on Fifth Avenue in January after more than 100 years in business. Peck's comments were evidence that, in many cases, flagships stores have become indistinguishable from a retailer's typical store. Flagship stores that are simply larger versions of standard stores are unlikely to have a place in the future of retail. Pierson said flagship stores need something extra to make it relevant, "a different or unique experience that strikes a chord." Longtime industry players such as Nike and Nordstrom are also figuring out how to make their flagship stores relevant and appealing. Read more