Despite increased competition from the Miami Design District, the city’s latest luxury shopping destination which has been attracting many international luxury brands, the long established Bal Harbour Shops welcomes new luxury brand tenants and store enlargements for the existing brands.
Dolce & Gabbana has expanded its existing store at Bal Harbour by adding 1,000 square feet while Saint Laurent Paris is opening this Spring its new store concept and adds 1,400 square feet to its former 2,000 square feet. Other luxury brands which have announced their intentions to expand their stores at Bal Harbour are:
– Italian luxury menswear house Brioni will double its existing store in March 2013, reaching 200 square feet
– Swiss watch maker Audemars Piguet will grow to 1,000 square feet, from 750 square feet, in May 2013
– Italian luxury cashmere specialist Loro Piana will double its existing space to 2,000 square feet later this yea
– Swiss luxury jeweler de Grisogono is scheduled to open a new 750-square-foot location in March 2013
In September last year, Bal Harbour Shops signed an option agreement with nearby Church by the Sea to acquire the land on which the church sits to build a new 50,000-square-foot church and use the church land to add 200,000 square feet of retail space. Bal Harbour also purchased the 14,987-square-foot SunTrust Bank building across the open mall for $13.5 million, which is likely to be a component of plans for the expansion of the shops.
Most international luxury brands today have at least two flagship stores in Miami, benefiting by the growing influx of wealthy shoppers from South America, especially Colombia, Chile, Venzuela.
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