SOURCE: Bal Harbour Shops

July 30, 2012 10:00 ET

Bal Harbour Shops' Sales Continue to Sizzle

Sales Increase 20 Percent, Luxury Retailer Adding New Brands as It Prepares for Expansion

BAL HARBOUR, FL--(Marketwire - Jul 30, 2012) - The weather isn't the only thing hot about South Florida.

Sales at Bal Harbour Shops continue to sizzle, as the retail center adds more new and delightful places to lose yourself in luxury. Average sales at Bal Harbour Shops reached $2,514 per square foot in June, up 20 percent from June 2011 on a 12-month rolling average basis.

While other South Florida shopping centers generally see a decline in sales at this time of the year, Bal Harbour Shops has always benefited from its international appeal.

"We enjoy a real diversity of clientele. Our South American tourist season kicks into high gear, they are here in a big way in the summer," said Operating Partner Matthew Whitman Lazenby, a third-generation Whitman family member to be involved in the business. "You might go to Worth Avenue in the summer and see a lot of closed doors, but that doesn't happen here," he added.

Demand, meantime, continues to grow from retailers looking to join Bal Harbour Shops' more than 100 luxury brands.

Since January, five world-class stores have opened their doors, starting with Stella McCartney's Florida debut, where elegance and beauty have been the hallmark of its success.

On June 7, Alexander McQueen opened a 2,100-square-foot flagship store. Designed by creative director Sarah Burton, the walls are covered in lacquered linen, silk and white rubbed Gesso, while the floor is made of smashed and reassembled Nero Argento marble.

July saw a whirlwind of new store opening activity starting on July 16 with Canali, which brought its venerable menswear company and signature Italian style to Bal Harbour Shops. The 1,800-square-foot store features Canali's full line of suits, formal wear, leisure wear, shoes and accessories.

Two days later, on July 18, French clothing manufacturer Moncler opened the doors to its 1,200-square-foot store to record sales -- the result of demand from Latin Americans who frequent Bal Harbour Shops during their winter holiday.

Swiss watchmaker, International Watch Company, IWC Schaffhausen, is the newest to bring its luxury brand to Bal Harbour Shops, with the opening of its 600-square-foot store on July 28.

Over the years, as demand among luxury retailers to become a part of Bal Harbour Shops has grown, the Whitman family has sought to find a way to expand beyond its 450,000 square feet. Now that dream is becoming a reality.

In June, Bal Harbour Shops reached a long-awaited agreement with the congregation of Church by the Sea to relocate the church from its current location, adjacent to Bal Harbour Shops in a land swap deal. In exchange, Bal Harbour Shops will build a new church on its land according to the congregation's specifications.

"We are working with the church to put the finishing touch on those plans," said Lazenby.

The deal will allow the Whitman family to add another 200,000 square feet.

"Probably half of the new space we have will end up going to existing tenants who open larger stores and the other half will go to the waiting list -- tenants who would be here today if we had the space to accommodate them," said Lazenby.

The project is a collaborative effort by some of the region's most prominent architects. Working with Bernard Zyscovich, who created the master plan for the expansion, are design architects Mark Hampton and Maria Sellek. The designing duo has served for more than 30 years as Bal Harbour's consultants for all new construction, including shop additions and renovations. Miami landscaping architect Raymond Jungles, who has completed dozens of award-winning projects in the last 30 years, will create a seamless and relaxing outdoor environment to compliment the indoor aesthetics.

ABOUT BAL HARBOUR SHOPS

Bal Harbour Shops is home to more than 100 luxury retailers including Brunello Cucinelli, Chanel, Dolce & Gabbana, Gucci, Lanvin, Neiman Marcus, Prada, Roger Vivier, Saks Fifth Avenue and Valentino. The venue at 9700 Collins Avenue in Bal Harbour is across from the ocean and the new St. Regis Bal Harbour Resort.

Luxury retail visionary Stanley Whitman founded Bal Harbour Shops in 1965. The company has remained in the family for three generations and stays true to its heritage of pleasing the most discerning customers from all over the world.

Bal Harbour Shops features boutiques and cafes lined with palm trees and fountains. The center regularly hosts designer trunk shows, product launches, book signings, and cultural and philanthropic festivities.

Contact Information

  • Media Inquiries:

    Susan R. Miller
    Boardroom Communications Inc.
    954-370-8999 (office) or 954- 294-4973 (cell)
    smiller@boardroompr.com

    Cheryl Stephenson
    Director of Marketing
    Bal Harbour Shops
    305-866-1816 (office)
    CStephenson@bhs.sc