Hermés Heads To Phipps Plaza

Ultra-posh retailer Hermés is reportedly slipping on its wing tipped shoes to head over to Phipps Plaza.

Simon Property Group, the owner of the high-end Phipps Plaza mall in Buckhead, announced that Hermés is opening a 7K SF store by the summer of 2024, one of a handful of new luxury retailers headed to the mall that is undergoing a major transformation, The Atlanta Journal-Constitution reported.

But that new store may be coming at the sacrifice of its 2,400 SF location at Buckhead Village District, the high-end mixed-use project just south of the submarket's financial district. Atlanta retail and restaurant blog ToNeTo previously reported that Hermés plans to shutter its Buckhead Village store once its lease expires in favor of its new Phipps location.

Simon is pushing Phipps through a significant transformation into a mixed-use designation, adding the high-end Nobu hotel and restaurant, a 90K SF Life Time Fitness center and a 13-story, 365K SF office building, which has already snagged pre-leasing from Goldman Sachs and Novelis. AMIRI, Bottega Veneta, Givenchy and Dior have either opened or are planning to open stores at the mall this year, the AJC reported.

Hermés, the French retailer known for selling $3K handbags, $40K carpets and $50K watches, was among the original retailer lineup for what was then known as the Shops At Buckhead Atlanta, developed by OliverMcMillan.

But OliverMcMillan's push for the highest end of retailers may have come at the expense of foot traffic at the project, which led to some churn of the original tenant lineup, Bisnow reported in 2017.

OliverMcMillan was acquired by Brookfield in 2018 and a year later the entity sold the Buckhead project to Jamestown.

Officials with Jamestown did not return calls to Bisnow seeking comment.