Pop-Up Shop

SIZE OF THE FASHION
RETAIL MARKET OF THE
MIAMI BEACH AREA
FACTORS AFFECTING
SALES VOLUME
Very large Aventura Mall houses about 300 retailers as one of Miami’s
premier fashion destinations. It is currently conducting a 241,000 sq
ft expansion.
Classic luxury hub Bal Harbour hosts over 50 luxury brands including
Saint Laurent and Piaget, but has tremendous space limitations
and a “radius clause” that prohibits tenants from opening another
store within a certain distance. It is currently in a 250,000 sq ft expansion
process.
On the other hand, a once worn-area known as the Design District
has at least 30 disclosed luxury retailers including Maison Martin
Margiela, Rick Owens, and Christian Louboutin. Another 15 have
signed leases. LVMH shops are shifting from Bal Harbour to the new
Design District. This district offers innovation, and much less regulation
to new luxury storefronts.
Miami’s 4th consecutive year of record tourism fueled the retail boom
with 14.2 million overnight visitors in 2013, boosting consumer
spending by 4.6%.
Direct vacancy rates declined to 3.8%.
Price per square foot of retail space increased.
Over 4 million sq ft of retail space are either currently under construction
or are planned to.
LOCALIZATION STRATEGY
This Pop-Up will Localise into the Art Basel Miami environment and showcase
classic Saint Laurent aesthetics in fixtures and content, with a Miami
flare in custom products that appeals to both the Miami natives and Basel
tourists --- particularly those from Latin America.