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The New York Merchandise Mart, also known as 1 Madison Square Plaza, is a building in the Flatiron District of Manhattan, New York City, at 41 Madison Avenue at East 26th Street adjacent to Madison Square Park. [1]
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When the building was constructed, it was the world's largest wholesale buying center, featuring over 1,000 display showrooms representing over 3,000 clothing lines. It was Chicago's attempt to replace New York City, where businessmen have to travel to 20 different buildings to see a comparable variety of clothing as the world's fashion center. [9]
The building is a leading retailing and wholesale location, hosting 20,000 visitors and tenants daily in the late 2000s. [ needs update ] [ 3 ] [ 4 ] Built by Marshall Field & Co. and later owned for over half a century by the Kennedy family , the Mart centralizes Chicago's wholesale goods business by consolidating architectural and interior ...
In other cases, the merchant is assessed "counter rent" for a "store-within-a-store" concept, common in the cosmetics industry, but also not unheard of in clothing. In other cases, the vendor agrees to buy back unsold merchandise from the retailer — this is a common arrangement for higher-value seasonal clothing, like designer coats.
Approximate locations of some past and present Manhattan neighborhoods. This is a list of neighborhoods in the New York City borough of Manhattan arranged geographically from the north of the island to the south. The following approximate definitions are used: Upper Manhattan is the area above 96th Street.
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In 1909, leading industries in New York City were manufacturers of clothes for women and men, [16] and New York's function as America's culture and fashion center also helped the garment industry by providing constantly changing styles and new demand; in 1910, 70% of the nation's women's clothing and 40% of the men's was produced in New York City.
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