Simon Property Group’s Post

One of the most eagerly anticipated – not to mention most closely watched – retail developments of the year (and perhaps the decade on the global scene) is opening this month. Read more about renowned American luxury home furnishing chain RH's extraordinary retail concept and its first expansion overseas. ➡️ https://lnkd.in/giE7ACyy #RetailInnovation #RetailDesign #RetailNews

How LVMH Transformed a Miami Warehouse District into a Luxury Hotspot Miami's Design District has become a global hub for luxury shopping, boasting brands like Louis Vuitton , Loewe , Hermès ès, and CHANEL . But just 14 years ago, this area was filled with gritty warehouses and empty lots. So how did this transformation happen? A Shared Vision The key players were Miami developer Craig Robins and #LVMH #CEO @Bernard Arnault. Robins envisioned the Design District as a SoHo of the South, while Arnault saw the potential for luxury brands. Despite initial skepticism, they joined forces to create Miami Design District Associates. The Secret Sauce The success of the Design District goes beyond just luxury stores. Here's what makes it special: Art and Culture: The neighborhood seamlessly blends high-end retail with outdoor sculptures, murals, and museums. Flagship stores resemble art galleries, creating a unique experience. A Curated Experience: Robins is actively involved in curating the vibe of the district. He donated land for a museum and helped attract Michelin-starred restaurants and exclusive private clubs. The Results The gamble paid off. Today, the Design District enjoys: Soaring Rents: Asking rents have skyrocketed by 200% since 2019, the highest increase in North America. Increased Foot Traffic: Foot traffic has jumped 47% over the past four years, while other luxury shopping areas have seen declines. A New Miami: Miami is now seen as a cultural capital, attracting financiers, tech entrepreneurs, and the business elite. Craig Robins' Vision Robins' commitment to art, culture, and community has been instrumental in the Design District's success. He has helped create a vibrant destination that goes beyond just shopping. What do you think about LVMH's investment in the Miami Design District? #Miami #DesignDistrict #LuxuryRetail #RealEstate #UrbanDevelopment #Dubai #London #Paris https://lnkd.in/dKpTAR8M

Toronto’s Bloor Street luxury run, formerly the ‘Mink Mile’, is seeing a transformation unlike anything in decades. This year saw many changes to the street, including new flagship luxury retailers, and more will come in 2024 as leases are signed and new stores open, reported Retail Insider.   "As we progress through December, several new retailers have recently opened on the street and more are on the way. That includes a newly opened Rolex store at 101 Bloor Street West that is operated by Royal de Versailles, a luxury multi-brand jewelry store located in the same building. The Rolex store features a unique limestone facade and bright interior, spanning about 2,250 square feet. DWSV Realty listed the space that was formerly occupied by Cole Haan." "Another interesting move on the street involves an 18 month lease at the iconic Lillian Massey building at 157 Bloor Street West. Retailer Club Monaco formerly occupied the Bloor Street-facing part of the building, which has been vacant (other than some pop-ups) since the retailer’s exit in March of 2021. Fashion retailer Brooks Brothers will occupy the former Club Monaco space for about a year and a half, moving from a temporary spot that Brooks Brothers moved into in the summer of 2022. Prior to that, Brooks Brothers operated a two-level space at 110 Bloor Street West that will soon be home to luxury brand Saint Laurent." https://lnkd.in/g7TbAFfm #toronto #luxury #retail

#PaulCostelloe Living x Dunnes Stores Style should breathe elegance… #dunnesstores #paulcostelloe #visualmerchandising #visualmerchandiser #visualdisplay #visualdisplaymanager #vm #christmas2023 #luxuryhome #luxuryfurniture #luxurybrands

Retail Today / Retail Renaissance: It’s time for a retail success story, Crate & Barrel’s “Flagship” in Flatiron area of Manhattan. This store just screams #excitement, #emotion, #entertainment, all built around #compelling #merchandise. I first visited this store in December, two weeks after it opened in a beautiful historic building. (See my visit in the comments) Crate & Barrel has been on 🔥🔥🔥🔥, +23% in 2023! 60% of their sales are digital. But their future plans include more stores. #stores #ecommerce Sales are estimated at $2.5 Billion, with 110 stores in North America. #sales Also I have attached Warren Shoulberg’s insights from his “Business Of Home”. See in comments. Warren Shoulberg #retail #retailindustry #retailtrends #retailstrategy #retailexperience #shoppingexperience #furniture #homedecor #homedesign #housewares #kitchen #bath #TopRetailExperts

Some interesting points regarding the current use of "experiences" when marketing and selling luxury furniture in this. How does this translate to the affordable furniture market? What consumer trends are emerging in this context? #experientialmarketing #luxurymarketing #affordablemarketing #furnituremanufacturing #retail #furnituredesign https://lnkd.in/gTyyFgnJ

Miami's Design District, a neighborhood that until recently was dominated by old warehouses, is now booming home to swanky brands like Louis Vuitton and Hermès. The once-shabby neighborhood has emerged as one of the world’s most popular luxury hubs, booming while some other High Streets still struggle. Luxury corridors such as New York’s Meatpacking District and Chicago’s Magnificent Mile have experienced double-digit decreases in foot traffic over the past four years through 2023. In the Design District, foot traffic jumped 47% over that period, according to Placer.ai data analyzed by CBREresearch. One of the keys to the neighborhood’s success has been mixing its 30 acres of retail with outdoor sculptures and murals. The flagship luxury stores resemble art galleries. At the Celine store, creative director Hedi Slimane recently designed a mirrored sculpture that is both an art installation and a functional spiral staircase that leads customers to the second floor. Asking rents for retail space in the Miami neighborhood have risen 200% since 2019, according to real-estate firm JLL, by far the steepest increase of any North American prime retail corridor over that time period. For certain brands, Miami is their bestselling city, said Michael Burke, head of LVMH Fashion. “And for others, the Design District is their top store in all of America.” Robins has also been instrumental in expanding Miami’s cultural scene, helping launch the Art Basel Miami Beach fair and ushering in new galleries and museums to the Design District. Outposts of popular New York City restaurants and exclusive membership clubs now define the city as much as the surf and party scene. 

Great results and an interesting trend in the furniture market.

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#Leather_Sofa Market Outbreak: Key Trends, Growth, Insights and Forecast to 2030. >> https://lnkd.in/dau7bzyh The #luxury #sofa or #leather sofa division is anticipated to significantly benefit from the rise in the disposable income, #globalization and major population shift to the urban areas worldwide. #Furniture companies in the leather sofa market, concerned about reducing their #carbon #footprints have now started offering #environment #friendly alternatives. IKEA Ashley Furniture Industries THOMASVILLE FURNITURE INDUSTRIES INC La-Z-Boy Incorporated Drexel Heritage Furniture Industries Broyhill Furniture American Leather Rowe Furniture #Leather_Sofa #business_opportunities #marketanalysis #marketresearch #opportunities #business #future #luxury #sofa