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Reinventing and shaping your brand for the future without loosing the values of what made you successful in the first place is what we do at BDA London

Exciting Future Unfolding at Southdale Center! America's first mall is undergoing a revolutionary transformation. As reported in the Wall Street Journal over the weekend, Simon is turning Southdale Center in suburban Minneapolis into the epitome of the “mall of the future”. Over the last decade, Simon has been reshaping Southdale, introducing a diverse array of amenities beyond traditional shopping. Luxury apartments, a hotel, a Life Time resort-style fitness club and modern co-working space and RH Gallery & Restaurant are just the beginning. Building on the progressive, upscale transformation, the first group of luxury retailers was revealed and includes four high-profile newcomers to the Minneapolis/St. Paul market – Gucci, one of the world’s leading luxury brands; Moncler, a brand focused on new luxury with its origins in sports clothing; Max Mara, the forerunner of modern ready-to-wear women’s clothing; and globally renowned watchmaker Breitling. Also announced were British luxury icon Burberry, luxury watch stalwart Watches of Switzerland/Rolex, Coach, kate spade new york, and Tory Burch, joining Kowalski’s Market and upscale mini-golf concept, Puttshack, who are slated to open later this year. Read the full story here: https://on.wsj.com/4abMYah #Simon #RetailNews #Retail #Future #Realestate

In an undoubtedly challenging economic environment, we are still witnessing enormous amounts of wealth investing into our market. Whether it’s Real Estate, Entertainment or Luxury Goods, the East End of Melbourne CBD continues to defy the odds. It remains resilient as one of the strongest and in demand pockets to renowned global powerhouses. Cushman & Wakefield Middle Markets are proud to be part of so many of these transactions. Oliver Hay Anthony Kirwan Leon Ma George Davies Josh Andrade #cushwake #luxury #realestate

Prada is significantly expanding in New York with the acquisition of two prime locations on Fifth Avenue. The Italian fashion brand purchased 724 Fifth Avenue, where its flagship store is located, for $425 million and an adjacent property at 720 Fifth Avenue for about $410 million. These acquisitions occur amidst a challenging real estate market, with declining property values and rising borrowing costs. Despite global economic challenges and a potential slowdown forecasted for 2024, US retail sales, particularly in luxury goods, remain robust. This is reflected in Prada's strategic investment, emphasizing the high value of their Fifth Avenue presence amid growing residential, hospitality, and retail developments. The space will be used for Prada's store, offices, and storage. However, Prada's sales growth has slowed, with the third quarter showing a reduced growth rate for the Prada label. This slowdown contrasts with other luxury brands like Hermes, which continues to see strong performance in the U.S. and Europe, particularly in locations like their Madison Avenue store in New York. These developments highlight the competitive nature of the luxury retail market, especially in coveted locations like New York's Fifth Avenue. As brands like Prada and Hermes navigate the fluctuating global economy, their investment in prime real estate highlights the ongoing allure and strategic importance of such locations in the luxury sector. Hermes' sales were boosted significantly by its Madison Avenue store in New York. #PradaFifthAvenue #LuxuryRetail #USConsumerStrength #GlobalEconomicTrends #PradaSales #LuxuryMarketResilience #HermesSuccess #RetailInvestment #FashionIndustryNews

In an undoubtedly challenging economic environment, we are still witnessing enormous amounts of wealth investing into our market. Whether it’s Real Estate, Entertainment or Luxury Goods, the East End of Melbourne CBD continues to defy the odds. It remains resilient as one of the strongest and in demand pockets to renowned global powerhouses. Cushman & Wakefield Middle Markets are proud to be part of so many of these transactions. Daniel Wolman Anthony Kirwan Leon Ma George Davies Josh Andrade #cushwake #luxury #realestate

Barney's New York. IYKYK. Every fashion-lover's dream store. Brands such as Comme des Garcons, Christian Louboutin and Azzedine Alaia were introduced to the American luxury market there. They championed independent designers and offered a carefully curated selection that ensured loyal shoppers were not dressed like everyone else. The beauty department was equally well stocked with cult status brands not widely available. Fred's, the in-house restaurant, was the fashion industry equivalent of what Michael's is for media - the go to destination for celebrity sightings, and always crowded. The annual warehouse sale was a fashion industry event in itself, with lines snaking around the block for the opportunity to buy heavily discounted designer goods. People would literally disrobe in the aisles as there were no fitting rooms at the sale. Barney's filed for bankruptcy in 2019, leaving a huge void in the lives of many fashion afficianados. In 2021, Barney's at Saks was launched at Saks Fifth Avenue; a shop in shop highlighting upcoming designers. Unfortunately, it never seemed to really take hold. Last week, on the first day of New York Fashion Week (September 7th), fast fashion brand Forever 21 launched a Barney's New York Collection. I should be happy that the name lives on, but this feels misaligned. Perhaps some things are best off being remembered as they were. #retailing #fashion #ecommerce

“New York City ” These Two Fifth Avenue Blocks Are at the Center of New York’s Retail Real Estate Revival “New York City ” two-block stretch of New York’s Fifth Avenue world’s biggest luxury brands are outdoing each other to score the best spots Gucci’s parent and Prada-tied entities have raced to buy properties on the stretch from 58th to 56th street over the past two months for almost $2 billion combined. Louis Vuitton’s parent company, meanwhile, is looking at 745 Fifth, another corner spot just steps from the Plaza Hotel and Central Park, and near the gleaming condo towers on Billionaires’ Row : two Prada purchases — of 720 and 724 Fifth for a total of $835 million — were completed in less than 20 days in December, where transactions of such size normally take month : The Fifth Avenue deals “developed quickly and confidently and I think it’s very, very exciting for the city” “High-street retail in New York City is once again on the rise” Prada and Kering have snapped up spots on the key Manhattan shopping corridor, a rare bright spot for the battered commercial property market “Investments are working, and that’s contributing to the momentum in interest that we’re seeing on Fifth Avenue” Top brands “are seeking great locations and they’re becoming harder and harder to find” “While Fifth Avenue specifically around this specific grouping of acquisitions is a very interesting story, the broader story is the rebound of New York City”

Retail Today / Retail Renaissance: Let’s forget all the doom and gloom of San Francisco, what is really happening in our big cities? Earlier this week we talked about the huge success with “The Battery Atlanta”, Atlanta’s entertainment/retail center in the metro area. Now the resurgence of retail in Chicago along the Gold Coast including Magnificent Mile. Luxury Brands paving the way with new growth, Bottega Veneta, Hermes, Armani, Prada, Chanel, etc.. Manhattan is back to $1000 sq foot, with new additions from Dolce & Gabbana, Louis Vuitton, Gucci, Rolex, Marc Jacobs, Saint Laurent and more. “It’s hard to overstate the excitement in the retail market”. Even E-commerce brands are looking for Brick&Mortar opportunities, Cananda Goose, Gorjana, Monos, etc… “Stores are a profitable growth engine for online sales”. Don’t worry about the younger generation, 97% of GenZ shop in B&M! #retail #brands #sales #shoppingexperience #stores #retailtrends #retailindustry #retailstrategy #brandexperience #brickandmortar #ecommerce #chicago #manhattan

Luxury retailers are investing big bucks in real estate to secure prime locations in the world's most exclusive shopping districts. With cash reserves aplenty, these retailers are freeing themselves from the control of landlords and setting up shop in streets where they want a long-term presence. Prada and Gucci's parent company, Kering, have recently spent over $800 million and nearly $1 billion, respectively, on prime real estate in New York City's Fifth Avenue. Meanwhile, LVMH Moët Hennessy Louis Vuitton is reportedly in talks to acquire the retail space currently occupied by Bergdorf Goodman's men's store. These big-ticket investments demonstrate luxury retailers' commitment to securing their place in the world's most prestigious shopping corridors. It also provides a pulse on available liquidity chasing trophy assets. #trophyassests #luxury #liquidity