In Fall 2013, the Hermès will open a 10,000 Sq.Ft. two-level flagship in the Design District, Miami. The new store will be double the size of its existing 4,500 Sq.Ft. facility operating at the Bal Harbour Shops. The retailer's lease expires on December 31, 2012.
Robert Chávez, president and chief executive officer of Hermes USA, said: "The plans Craig Robins (the Design District's primary landlord) has for it are quite dynamic. It's a great thing he's doing, and we want to be a part of it. Our business in Miami has been very strong."
Louis Vuitton exited Bal Harbour at the end of May, after its lease had expired. He is planning to open its store in the Design District in 2014. Moreover, other luxury brands such as Christian Louboutin and Marni, are present at the Design District. Craig Robins' aim is to sign leases with 20 - 30 luxury brands in the next five years. LVHM, Prada, Chanel and Gucci are definitely on his target.
Chávez does not worry if customers will be willing to come to shop at the Design District instead of Bal Harbour. "What Craig is doing in the district is going to significantly change that whole area, and will become a major draw over a longer period of time," he said. "We think other luxury retailers will join us."
In the new store, a much larger space will be designed for men, watches, jewelry, shoes and accessories, and it will receive a new presentation. Furniture will also be included. "We'll increase our home offering significantly. Now we're carrying home in six stores and only three of those stores carry it in a pretty significant way. Adjacent to our new store will be a small St. Louis crystal shop. The first of its kind in the U.S."
We ask our readers, what impact do you think this will have on Midtown Miami Real Estate, Mourningside and buildings like Paramount Bay and 900 Biscayne. Will proximity to upmarket retail have a positive effect or none at all?
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