Old Navy, Gap Inc.’s largest and most accessible brand, has just signed New York City’s biggest retail lease of 2025—a massive 55,000-square-foot, two-level flagship store in the heart of Herald Square, Midtown Manhattan. The location is just steps away from Macy’s iconic Herald Square store, making it one of the most valuable pieces of retail real estate in the U.S.
A Strategic Move in NYC’s Most Iconic Shopping Hub
The new Old Navy store will replace the brand’s existing location at 150 West 34th Street, further anchoring its presence in Manhattan’s busiest retail corridor. The store, set to open next year, will offer a digitally-led, immersive retail experience designed to modernize how customers interact with the brand.
According to Old Navy President & CEO Haio Barbeito, “This new location will enable us to deliver a fresh, immersive, digitally led experience.” This aligns with Gap Inc.’s broader retail revitalization strategy under new CEO Richard Dickson.
Old Navy’s New York Expansion Is Part of a Larger Recovery
The announcement comes as Manhattan retail rebounds from the pandemic, with apparel brands leading leasing activity in early 2025. According to CBRE, apparel companies took up over 148,000 square feet of retail space in Q1 alone.
Other notable fashion tenants expanding include:
- Mango – Opening at 1976 Broadway
- Miu Miu – Renewing its lease on 57th Street
- Ikea – Adding new urban-format stores in Manhattan
Luxury retail on Fifth Avenue is also surging, with high-end brands purchasing flagship locations to secure long-term presence.
The Brand’s Broader Evolution Under Gap Inc.
Old Navy is not alone in its reinvention. Gap Inc. has also:
- Reopened the Gap store in the Flatiron District
- Renovated Banana Republic’s flagship in Soho
- Invested in modernizing Athleta, its women’s activewear line
While Gap Inc.’s stock has seen fluctuations, recent quarterly sales were strong, and the company is doubling down on real estate strategy and in-store innovation to boost brand performance.
Global Opportunity: Old Navy Franchise Advisory
Star Brands Consulting Group is an independent consultant and is not affiliated with Old Navy or Gap Inc. However, we work with international developers, shopping mall operators, and retail investors who want to bring globally recognized brands like Old Navy into high-growth markets across Africa, the Middle East, Asia, and Eastern Europe.
We offer:
- Market entry support for franchise-style models
- Location strategy and feasibility studies
- Brand matchmaking with top U.S. and European retail groups
- Ongoing operational advisory and localization strategy
Ready to Bring a Major Fashion Retailer to Your Country?
Are you interested in launching a value-driven fashion brand with a global following? Whether you’re a mall operator or franchise investor, Star Brands Consulting Group can support your entry into the competitive world of international fashion retail.
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