A range of designer brands, including Fendi and Bally, are shaking up the exclusive retail landscape Bal Harbor Stores, learned Commercial Observer.
Luxury brand Fendi, whose leather goods cost thousands of dollars, will expand its existing store at the open-air mall in Bal Harbor, Florida. The Italian fashion house “entered into a lease” in August to not only keep its current store on the first floor, but also to occupy the one next door, a public lease provision prevails.
Fashion label Bally, whose clothes and accessories typically cost hundreds of dollars rather than thousands, is set to debut at Bal Harbor. The Swiss brand “entered into a lease” for the 257 store in June, according to public documents.
It is not known how the new businesses will affect the stores currently occupying these spaces, whether they will move into the mall or close altogether. Menswear brand Canali currently occupies the next store on Bally’s second floor. On the first floor, another brand of men’s clothing, Kiton, lives in Fendi’s new store unit.
Representatives of the Bal Harbor boutiques, owned by the Development of the Whitman family, and luxury giant LVMH, who owns Fendi, declined to comment. Representatives of the owner of Bally, a German conglomerate JAB Holding Company, as good as did not respond to a request for comment.
Fendi and Bally aren’t the only ones going to Bal Harbor stores.
Beach clothing line Haremlique at the sea will take up residence on the third floor. The company, founded by Caroline Koçwidow of Turkish billionaire Mustafa Koç, signed a lease for the 308 store unit in June, under a provision of public lease and state business records.
On the first floor, Swiss luxury goods company Richemont, who own Mont Blanc, Cartier and Chloe, among others, signed a rental agreement for the 150 store in December 2020.
It’s unclear which Richemond brand will use the store or when the outpost will open from Italian menswear. Cesari Attolini always occupies space.
Spokesmen for Canali, Kiton, Richemont and Haremlique à la mer did not respond to a request for comment. A representative for Cesari Attolini declined to comment.
The Bal Harbor Shops is considered one of the most prestigious shopping centers in the country thanks to its Chanel, Balenciaga and Saint Laurent stores. The open-air mall has impressive sales per square foot, reaching or exceeding $ 3,000, according to the Miami Herald and Daily women’s clothing, although the figure could not be independently verified.
The luxurious 463,477 square foot resort is booming. The Whitman Family Development is building an additional 340,387 square feet of retail space after securing a $ 400 million loan in 2019, according to the South Florida Business Journal.
Julia Echikson can be reached at Jechikson@commercialobserver.com.