Retail Trends: Now and 2024 Insights

Retail Trends: Now and 2024 Insights

The openings of new retail stores, combined with investments in high-value flagship properties, justifies the need for consumer experiences beyond the realm of e-commerce. We have spotlighted recent and upcoming store launches, such as Cartier’s new store in SoHo which opened last November and Mango’s goal to open 500 new stores by 2026. Additionally, Prada has strategically acquired prime real estate on Fifth Avenue, citing its foresighted investment for long-term potential.

1. Cartier in Soho, New York

On November 18th, Cartier opened its doors in SoHo at 102 Greene Street. MGS TRADE provided their millwork services on this four-story project. The historic building was constructed in 1881 by architect Henry Furnbach. 

2. PRADA Buys NYC Flagship Store Building

Prada announced last Wednesday that it would buy its flagship store’s building on Fifth Ave for $425 million in the hope of its “long-term potential” according to the company. 

In the past, Michilli Inc. completed an open-store renovation at this location. The 5,000-square-foot project was finished in 6 weeks while maintaining an open sales area. 

3. Zimmerman Opens a New Boutique in Paris

Australian brand, Zimmerman opens its second store in Paris. This location is on Rue du Faubourg Saint-Honoré and is 3,100 square feet. 

4. Mango to Open 500 Stores by 2026

Mango, the Barcelona-based brand plans to open 500 stores through 2026 located in the US, Canada, India, and throughout Europe, closing out its fiscal year with $3 billion in sales, an increase from last year’s numbers. 

5. APL Opened its Second Flagship 

On November 9th, APL (Athletic Propulsion Labs) opened its second flagship store in the US, following the success of its first location at the Grove in Los Angeles. The new store is located  in SoHo at 75 Prince Street.

6. Celine Revamps Miami Flagship

At its flagship in the Miami Design District, Celine has undergone a transformative architectural redesign, showcasing Hedi Silmane’s brutalist design approach. The revamped 4,000-square-foot store reflects a complete redesign, inspired by Silmane’s distinctive aesthetic.

7. Celine Opens First Chicago Store

Celine makes its first debut in the Windy City with a new two-story, 4,900 square foot store in Chicago. Located in the Gold Coast shopping district, the store is located near brands such as Versace, Dior, and Brunello Cucinelli.

8. Létrange Opens Retail Store in Paris Apartment 

The 4,500-square-foot store on Rue Saint-Honoré embraces the concept of apartment living and ‘quiet luxury,’ providing consumers with a retreat from the hustle and bustle. Offering an exclusive ‘appointment-only’ experience, the store aspires to recreate the ambiance of a home environment.

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