The luxury lineup at Brickell City Centre is growing: developers announced on Tuesday that Italian fashion house Valentino and Swiss watch and jewelry designer Chopard will open shops at the 500,000-square-foot shopping center.
Both brands will open stores on the street-accessible first floor of the four-story building.
Valentino will have about 1,800 square feet and Chopard will have about 1,500 square feet.
Debora Overholt, head of retail leasing for Brickell City Centre, said that luxury retail is important to attract Latin American shoppers.
“Brickell enjoys a strong brand awareness in Latin America, and visitors from there tend to be more than just your typical tourist in Miami,” Overholt said. “They own second homes or third homes. They spend extended periods in the area.”
Brickell’s booming luxury condo population and its status as Miami’s financial district also make it a natural home for high-end retail, Overholt added.
The shopping center’s second and third stories will include less-expensive premium and contemporary retailers, as well as restaurants and bars. Overholt said about 450,000 square feet of space have been leased or are in advanced negotiations.
A Saks Fifth Avenue has already been announced as the project’s anchor tenant. The luxury dine-in movie theater Cinemex will open a location on the fourth floor.
Brickell City Centre is a massive $1.05 billion mixed use development that will also include two condo towers, a hotel and two office buildings, all scheduled to open by the end of 2015.
The shopping center will open in the fall of 2016. Swire Properties is partnering with Whitman Family Development and Simon Property Group on the project.
In recent years, Miami has become a leading capital for luxury retail.