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Prada buys New York Fifth Avenue store building for 425 million dollars

Prada has completed the purchase of a building on Fifth Avenue for 425 million dollars, a move signaling its transition from leasing the five-story boutique at 724 Fifth Avenue, which it has done since 1997. The acquisition aligns with Prada's strategic vision to focus on the US market where its sales have been less than robust, emphasising the...