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New York Investor Guide: Watch this space

Ross-Bailey-2015As a retail entrepreneur, what excites you the most about the New York shopping scene?

The diversity. New York has all those poles-apart areas. The Upper East Side vs Soho, 5th Avenue vs Williamsburg. Each area has such a different vibe you feel like you are moving between a series of villages. And there are some parts of the city – like Soho for example – where you are already seeing a lot of small, really cool independent stores. There is a definite Shoreditch-feel emerging.

Does this prevalence of small, independent stores make the city ripe for a growth in pop-up retail?

The opportunities are massive. We are talking about one of the biggest retail cities in the world. And in many ways New York has been leading the pop-up revolution. Markets in shipping containers are relatively new here in London but they were being introduced in New York six or seven years ago. Look at Super Pier [12 acres of space used as a former retail hub currently being renovated on the Hudson River]. That scheme was just so ambitious. But the problem is keeping it going. The shipping container retail pop-up concept was introduced there in 2009 and didn’t last long. The pier is pretty much empty again now. The big issue around pop-up in New York is knowing how to take these great ideas and develop them into viable businesses for the longer term. It is about making sure they keep going after the initial launch phase.

Is this something that New York and Paris should be looking to London for inspiration?

Yes. Because although we have copied New York in terms of introducing pop-up over here, I think we have been better at commercialising the concept. We have been able to look more closely at how these great ideas evolve to stay relevant and interesting. New York excels when it comes to cool, trendy launches. But they don’t have pop-up destinations yet. Or a long-standing, successful pop-up restaurant scene. And that’s where they can look to London for examples of how this can work really well. It is already happening. Every time I have visited landlords in New York they have always been intrigued and very positive about lessons they can learn from us here in the UK.

Despite these past issues over maintaining long-term commercial schemes, do you see pop-up becoming a new, successful sector in the Big Apple?

New York is really just London on steroids. So I can see no reason why it wouldn’t. There is an infectious buzz in the city which makes it perfect for pop-up. And there is a real need too. The city is the perfect place to launch a cool trendy coffee pop-up, for example. And this is the sort of stuff that friends of mine who live there are craving.

Are there any locations you would focus on right now if you were looking to take the Appear Here concept across the pond?

The outer boroughs to start with for sure. I wouldn’t say Manhattan is done. It is still an incredible place. But in terms of the right scene and prices then there are other areas that would be easier to start. Some parts of Brooklyn, definitely Williamsburg – which is like the next Dalston or Hackney by London standards. And if people are set on Manhattan then areas like Soho and Chelsea are the places best suited to pop-up. But I just can’t see it not working. If it can be done right, then the city wants it. So why wouldn’t it work?

emily.wright@estatesgazette.com

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