Valentino filed a lawsuit against its landlord on Sunday seeking to terminate a 15-year lease on its Fifth Avenue store.
"Even in a post-pandemic New York City...the social and economic landscapes have been radically altered in a way that has drastically, if not irreparably, hindered Valentino's ability to conduct high-end retail business at the Premises," it said.
"All such uses by Tenant to be consistent with the luxury, prestigious, high-quality reputation of the immediate Fifth Avenue neighborhood in general, and for no other use or purposes," the lease said. "In the current social and economic climate, filled with COVID-19-related restrictions, social-distancing measures, a lack of consumer confidence, and a prevailing fear of patronizing, in person, "non-essential" luxury retail boutiques, Valentino's business at the Premises has been substantially hindered, rendered impractical, unfeasible and no longer workable," it said.
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Byyyyeeeeee! Fashion industry is a waste of natural resources and psychological battle with the youth.
Deblasio has crippled the city
I am an gambler, I want to leave, I need help
It starts as a droplet, forming a trickle. And before you know it, it's a raging torrent.
Wow
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