# Professor Thomaï Serdari is quoted in a story on retailers closing their Fifth Avenue locations

1 Faculty News January 12, 2019 ![CNN logo](/sites/default/files/styles/246w/public/assets/images/uat_027323.jpg?itok=3feg8BmM)>

Excerpt from the [CNN](https://www.cnn.com/2019/01/12/business/calvin-klein-store-gap-nike-new-york/index.html)-- "'Real estate has become very expensive in New York,' said Thomai Serdari, a strategist in luxury marketing and branding who teaches at New York University's Stern School of Business. 'It puts a lot of pressure on brands financially if you maintain stores that basically have no traffic.'"

[Read more](https://www.cnn.com/2019/01/12/business/calvin-klein-store-gap-nike-new-york/index.html)