Chanel to open store in Miami Design District
Chanel has a store at Bal Harbour Shops since 1994
Chanel signed a lease for a space in the Miami Design District, The Real Deal has learned.
The luxury French fashion company will open a store across from Gucci at the entrance to Paradise Plaza on 41st Street in Miami, sources said. Gucci is on the west side, and Chanel will open on the east side.
Dacra, led by CEO Craig Robins, declined to comment. Dacra and partner LVMH affiliate L Catterton Real Estate, each own 38.75 percent of the Design District, with Brookfield Property Partners owning another 22.5 percent.
In addition to Gucci, the high-end retail district is home to Hermès, Louis Vuitton, Fendi, Dior, Cartier, Saint Laurent, Prada, Celine, Bottega Veneta and other luxury brands. The Design District has long pursued Chanel, which has since 1994 had a store at Bal Harbour Shops, owned by rival Whitman Family Development.
Dacra and L Catterton have so far developed 1 million square feet in the Design District, now occupied by at least 200 tenants, including retailers and restaurants that include Michael’s Genuine Food & Drink, the food hall Politan Row (previously called St. Roch), and L’Atelier de Joël Robuchon.
The partners also hold development rights for another 2 million square feet in the neighborhood, where they can build hotels, offices and residential projects.