The first task facing a retailer entering a new market? To find its customer. This chore takes on more significance for foreign retailers venturing into a complex, expansive and heterogeneous market such as the United States.
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Matthew E. Epstein
American and international retailers turn to Matt Epstein for business and real estate law advice. Matt has coordinated the national roll-outs of stores for numerous retailers including J.Jill, J. Crew, kate spade, Tory Burch, Betsey Johnson and Swarovski Crystal, including the negotiation of leases at regional malls and urban locations. Matt has over 25 years of experience in a wide range of real estate matters.
Prior to joining the firm, Matt clerked for the Honorable Morey L. Sean, Federal District Court, Eastern District of Louisiana. He is a Director and a Co-Chair of the firm's Retail, Restaurant & Consumer group.
Successful international retailers are aware of this potentially lucrative avenue to increase revenues. Frequently, international retailers encounter operational requirements which differ drastically from their home turf.
What conclusions can we draw from the increasing vacancy rates in prime NYC retail real estate? Something we’ve seen many times before, only to be followed by the climb in rents to stratospheric levels?