Dive Brief:

• General Motors' Cadillac division announced last week that it will move its headquarters to the SoHo neighborhood of Manhattan. The move comes after a year in which the brand's sales fell nearly 5%.
• Industry watchers say the address change really could help boost the prestige of the band, especially among younger buyers.
• "It's trendsetting," GM CEO Mary Barra said last week of the neighborhood during a news conference where she announced the move.

Dive Insight:

You can say a lot of things about SoHo, but "a great place to drive your Cadillac" is definitely not one of them. Still, it's been associated with trendsetting for generations now, and GM clearly hopes the move will help on that front.

"New York represents a change of perspective for the brand, a fresh start in a fresh city of trends and money and style makers," Eloy Trevino, associate partner at brand consultancy agency Prophet, told Ad Age.