Wal-Mart to Lease Studio in Manhattan

In yet another attempt by Wal-Mart to try and reach a younger demographic, the company announced yesterday they will lease a new Fashion Studio in New York in order to "expand our design team". We'll see who is wearing Wal-Mart fashion soon enough at the Oscars or the Grammy's.

Wal-Mart has agreed to a 12-year lease for the new studio, according to Alexander Chudnoff, executive director at Cushman & Wakefield, a real-estate broker for the deal. The agreement demonstrates a long-term commitment by Wal-Mart to attract more top-notch talent to pick and design its fashions. That effort has been hampered in part by the location of Wal-Mart's headquarters in Bentonville, Ark.