Just three years after opening, the sport and leisure brand has closed its flagship destination as a result of the ongoing impacts of the Coronavirus.
Located on Fifth Avenue, the Asics flagship store opened its doors to customers in 2017 and despite being open for just a short period of time; the company have had to make the decision to close this location. High rents for the iconic location coupled with the uncertainty of where the Coronavirus pandemic will end have both been contributing factors in this decision.
According to a statement, the company will record a $22M loss for the year ended December 2020.
The company issued a statement, commenting: “Amid the uncertainties regarding when the novel coronavirus pandemic will end, the company said it will further improve the profitability of the North American business by closing this store, considering the business risk of continuing to operate the store and other factors.”
