Los rebajas!! My favorite time of year in Madrid !! They also happen in July, I think it is... Gotta recommend a couple of stores for clothes for men and/or women.
#1 Favorite Purifacaci�n Garcia. 2 stores on Calle Serrano. Amazing prices for fantastic clothes (even when no sales are happening). I would like to meet Puri and say thank you. Great designs m and w. Fun, hip, yet still enough mainstream to wear to work or for a night on the town. For sure complements back in the US. Oh, hot hot shoes, too.
#2 Favorite Adolfo Domiguez. 1 store on Gran Via and 2 on Serrano (close to Purifici�n). More great designs with Adolfo. It can be like the Armani, Banana Repub, and Gap all mixed together... but cheaper, better, and Spanish. You can find some incredible finds there, like a cashmere turtleneck for �42. Definately european and can be a bit stylie. Met Adolfo in there one day. He�s cool and he helped me pick out a suit. Definately approachable if you see him there.
#3 Favorite Zara. Many locations. I would say Spanish Banana Republic Armani Exchange but way better designs at Gap prices. Always find great stuff there for M & W.
#4 Favorite Carolina Herrera. 1 store on Serrano (down the st. from the US embassy) with another one opening in the Spring. Tre chic to the ultimate. Its #4 on the list just because I cant afford anything in there. Definately worth a peak at the inside, amazing layout and presentation. Saw Carolina�s daughter there one day, bit aloof.
#5 Fav Armani on Serrano. Armani is Armani, enough said

. Big store & big selection. Not sure how prices rate here in Madrid. On Coello just below Goya, Armani himself has opened a store dedicated to denim jeans. Worth a visit if you are in the area. It is NOT ArmEx, thank goodness.
Also a lot of great places on Goya, Claudio Coello, and Calle Lagasca.
A great stop to set down your bags and tapear for a while that is very close to Armani is Mallorca

. Everything is good there. Also a great place to shop for things like chocolate, saffron, wine, cheez, etc. Try the San Jacobos!! If it looks to crowded when you walk in there is a duplicate bar downstairs, rarely full.
Or a great place for lunch or dinner. The Thai Garden... Yummy Thai, a bit upscale

, great ambiance, flawless decor. It is on Jorge Juan a block up from Serrano.
My advice...buy a ticket to Madrid, pack your Steetwise Madrid map, leave space in your suitcaise and bring some extra �uros to rejuvenate the wardrobe. Any time of year.
When you get here you can start a Plaza Col�n on Serrano. Up and down Serrano streets mentioned above. you will find everything. Loewe has great stuff. Hot shoes.
Ya, dudes like to shop...so what. Im from L.A...

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Peace.
LA
PS they all have websites with exact addresses. They also have stores in other parts of Spain.