Macerich's Scottsdale Fashion Square Posts Major Sales Jump For 1-Year-Old Expanded Luxury Wing
December 15, 2019
SANTA MONICA, Calif., Dec. XX, 2019 /PRNewswire/ – Macerich (NYSE: MAC), one of the nation's leading owners, operators and developers of one-of-a-kind retail properties in top markets, today reported that year-over-year sales at Scottsdale Fashion Square reached $1,472 per square foot compared to $1,032 prior to the redevelopment and expansion of the luxury wing that debuted in November 2018.
The enhanced luxury wing at Scottsdale Fashion Square is marked by new stores – including just-announced Versace – high-end furnishings and finishes, a Swarovski-inspired light column in the Crystal Court, and a range of desirable amenities. Anchored by Neiman Marcus, this wing also features a new grand entrance, providing a sense of arrival with a striking, two-story glass entry plus new attractions including two market “firsts” – Nobu Scottsdale (opening spring 2020) and Equinox luxury fitness (opening 2021).
“Creating a beautiful and highly productive platform for the world’s top luxury brands was the goal of our strategic investments in this market-dominant property,” said Michael Guerin, Senior Vice President, Leasing, Macerich. “The stellar sales performance demonstrates the success of our efforts to take Arizona’s undisputed luxury leader to the next level, matching the interests of the buoyant luxury sector in Scottsdale and beyond.”
Exclusive-to-market luxury retailers at Scottsdale Fashion Square, listed alphabetically, include:
- Bottega Venetta – Known for its exquisite leather and other luxury goods, the Italian brand completely renovated the store interior with a new, two-story front entrance
- Breitling – The Swiss brand known for high-precision timepieces
- Bulgari – Purveyor of fine Italian jewelry, watches and luxury goods
- Burberry – The iconic British luxury name offering fashion and accessories
- Cartier – The renowned French luxury brand focusing on fine jewelry, watches, accessories and fragrances has undergone a complete transformation of its space
- CH Carolina Herrera – The modern luxury lifestyle collection from the eponymous South American designer has relocated to a new space in the luxury wing
- David Yurman – The American purveyor of designer jewelry
- Escada – The European luxury designer clothing brand is a favorite addition to Scottsdale Fashion Square
- Gucci – One of the world’s top luxury brands representing the pinnacle of Italian craftsmanship, the boutique has moved to a new, expanded location across the Palm Court
- Hublot – The inventive brand that combines exotic materials and Swiss watchmaking tradition
- IWC Schaffhausen – With a focus on technology, this Swiss watchmaker has produced timepieces with lasting value since 1868
- Jimmy Choo – The 21st century luxury accessories brand with shoes at its heart just celebrated its grand reopening at the property
- Jo Malone – The luxury British fragrance and skincare brand is among the latest additions to the luxury wing
- Louis Vuitton – The French luxury house famed for signature leather goods, accessories and more recently remodeled its flagship location at Scottsdale Fashion Square
- Michael Kors – The award-winning American luxury brand features fashion and accessories
- Omega – The luxury Swiss watchmaker has been redesigned to replicate the Omega flagship store in Switzerland
- Prada – The Italian luxury house specializing in fashion, leather handbags, shoes and accessories
- Saint Laurent – The luxury, prêt-à-porter retailer with boutiques in Paris, Beverly Hills and other major luxury centers around the world
- St. John – Esteemed for signature knitwear and exceptional service, the store enhanced its presentation at Scottsdale Fashion Square, opening its new location in the luxury wing
- Salvatore Ferragamo – The iconic Italian leather goods purveyor is debuting its new store in the luxury wing this holiday season
- Stuart Weitzman – Known for fine shoes and accessories
- Tiffany & Co. – A world leader in fine jewelry, luxury timepieces and accessories
- Versace – A leading global fashion house regarded for its modern Italian design
In-demand contemporary and experience-centric brands with a new presence at Scottsdale Fashion Square include:
- Apple – The iconic consumer tech brand opened the market’s first of its newly designed flagship locations at Scottsdale Fashion Square
- b8ta – The retail destination for discovering the latest in electronics and other innovative products
- Johnny Was – Offering luxury Boho fashion and accessories for women, this LA-based brand completely renovated its current location, featuring hand-painted artwork on the storefront
- Lululemon – This technical athletic-wear favorite reinvested at Scottsdale Fashion Square by doubling the size of its footprint and offering new features such as The Joinery, an onsite customization and hemming service, and Ivivva, the product line for active girls
- Morphe – The renowned beauty brand created by artists and influencers
- Peloton – High-end, at-home fitness equipment that marries sophisticated technology with expert-led group classes and other media content
- Trina Turk – A contemporary favorite specializing in chic women’s ready to wear and accessories
- UNTUCKit – The casual men’s shop known for redefining dress shirt style
New, upscale dining concepts are in line with the enhanced focus on luxury and special experiences at Scottsdale Fashion Square are:
- Farmhouse – Nathan Peitso, second-generation farmer of Kenter Canyon Farms, announced the opening of his new restaurant serving “seed-to-plate” cuisine
- Nobu – Arizona's first location for this upscale, international restaurant sensation
- Ocean 44 – A new seafood restaurant from the team behind Steak 44 and Dominick’s Steakhouse, who are also founders of Mastro’s Steakhouse and Mastro’s Ocean Club
- Toca Madera – An experience-forward concept from West Hollywood showcases local ingredients and bold flavors
- Zinqué – The iconic culinary hangout from Venice, CA, will bring its all-day coffee and wine bar selections to Scottsdale Fashion Square
Adding to the overall energy at the property, Industrious opened its first coworking space inside a mall, in the former Barneys department store space, with its best-ever grand opening occupancy. Future phases in the ongoing redevelopment of Scottsdale Fashion Square will include high-end residential units, class A office space and the new Republic Scottsdale hotel, now under construction and set to open in 2021, featuring new dining concepts from famed chef Giada De Laurentiis.
Scottsdale Fashion Square is one of the nation’s premier shopping destinations, with 1.9 million square feet and 200+ shops and restaurants in all. Other great names at the property include Anthropologie, Coach, Hugo Boss, Indochino, Kate Spade New York, Lacoste, L’Occitane, Microsoft, Montblanc, Nespresso, Sephora, Tesla, Tory Burch, Tumi and many more. Additional information about Scottsdale Fashion Square can be obtained from its website: www.fashionsquare.com.
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and redevelopment of regional malls throughout the United States.
Macerich currently owns 51 million square feet of real estate consisting primarily of interests in 47 regional shopping centers. Macerich specializes in successful retail properties in many of the country’s most attractive, densely populated markets with significant presence on the West Coast and in Arizona, Chicago and the New York Metro area to Washington, D.C. corridor.
A recognized leader in sustainability, Macerich has earned Nareit’s prestigious “Leader in the Light” award every year from 2014-2018. For the fifth straight year in 2019 Macerich achieved the #1 GRESB ranking in the North American Retail Sector, among many other environmental accomplishments. Additional information about Macerich can be obtained from the Company's website at www.macerich.com