Hermes joins the ranks of Christian Louboutin, Cartier, Prada, Celine, and Louis Vuitton this week in the Design District. The Luxury powerhouse opened a massive 5,000 square foot store featuring silk scarves, mens and womens accessories, furnishings, and of course the incredible Birkin and Kelly bags. The opening of the Hermes store in the Design District comes with the closing of the store in Bal Harbour. CEO and President of Hermes released the following statement, “Hermès is delighted to become a centerpiece of the rapidly expanding Miami Design District shopping district. We are confident in Craig Robin’s innovative vision of a dynamic new retail destination in South Florida. With Miami at the crossroads between North and South America, we see the development of the Design District as the focal point for a contemporary convergence between art, design and fashion reflecting the diverse, changing landscape of this exciting city,”
While many luxury retailers remain in Bal Harbour, the Design District is benefiting from the incredible growth in luxury developments and real estate along the Biscayne Corridor and in Midtown and Wynwood. The Related Group announced last year the new development, Icon Bay, that will be within walking distance to the new Design District, and many investors are buying up land in the surrounding area, such as Little Haiti, and on the Biscayne Corridor. This also makes shopping much easier for the luxury owners in Brickell as well. The change in this dynamic is likely to create a city structure more like New York, and this is always a good development! For more information on investment opportunities, and preconstruction pricing for Icon Bay, contact us.