Fashion Valley to add exclusive stores
Mercurialx proximo 2 in the next few months, retailers Karen Millen, a British fashion brand with 110 stores worldwide, and Judith Ripka, a highend jewelry boutique with just 11 stores, will open along with highend boutiques Custo Barcelona and Tory Burch. A new Rolex store also recently opened at the Mission Valley mall.
Francine Miley, spokeswoman mercurialx proximo 2 for Fashion Valley, said adding these highend boutiques will bring more exclusive brands to San Diego. Other retailers scheduled to move in this year include Michael Kors and M Missoni.
want to appeal to those San Diegans who would like to stay and shop mercurialx proximo 2 in San Diego instead of having to mercurialx proximo 2 drive to Orange County or Los Angeles, Miley said.
Although Simon Property Group, which operates Fashion Valley, has focused on luxury brands for several years, the addition of hypervenom phelon iii tf pricey and exclusive boutiques could be a gamble as the economy lurches toward a possible recession.
Few analysts see the ultrarich cutting their spending dramatically, but there is concern that middleclass shoppers who helped create the boom in highend brands might be cutting back, as skyrocketing gas prices and the declining housing market eat away at consumers discretionary spending.
In its report for February, the International Council of Shopping Centers said consumers increasingly favored shopping at discount retailers such as WalMart and TJ Maxx, while luxury retailers saw their sales dip as consumers scaled back on hypervenom phelon iii tf more expensive items.
Sales for February at stores open at least one year were down 4.3 percent from a year ago for luxury retailers, while overall samestore sales increased 1.9 percent. Until recently, luxury sales had outpaced the larger retail market. In 2007, samestore sales for luxury retailers increased on average by 6.3 percent a month while the total retail market recorded an average monthly increase of 2.1 percent.
George Whalin, president of Retail Management Consultants in Carlsbad, said luxury is still a viable market in these tough economic times.
if it contracts a bit, it going to do better than the midtier retailers, he said.
Whalin said with Fashion Valley adding exclusive boutiques like Tory Burch, the trendy American designer known for bold colors and clothes inspired by the and it separates itself from the other malls in the region.
decided to position it as the upscale shopping center of San Diego county, Whalin said.
Miley said the luxury market is still a growth business.
is obviously a demand for these luxury retailers or we wouldn be doing it, she said.
But Whalin said he is not sure every new retailer at hypervenom phelon iii tf Fashion Valley will be successful. For instance, Custo Barcelona, with its bold colors and designs, might not appeal to the conservative San Diego consumer mercurialx proximo 2.