Gucci owner pays nearly $1B to scoop up tower on red-haute Fifth Avenue

Gucci owner pays nearly $1B to scoop up tower on red-haute Fifth Avenue

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The owners of Gucci on Monday bought a prime Fifth Avenue retail property for a whopping $963 million — and it could mean the boot for rival fashion house Armani from its flagship location. Gucci’s parent Kering scooped up the 115,000 square-foot, three-level retail space at 715-717 Fifth Ave., at…

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