News
Upmarket Retailers Raking It In
March 20, 2014
Another measure of the retail heat in South Florida: well-established upscale retailers are having no trouble competing with the influx of new retailers eager to tunnel into upmarket pocketbooks. Bal Harbour Shops operating partner Matthew Lazenby tells us that 2013 was yet another record-breaking year for the property, with sales increasing 7.4% over 2012, which, until 2013, had been its best year ever. Neiman Marcus and Saks Fifth Avenue enjoyed double digits for the year (we have the scarves to prove it), and so did the restaurants, with some individual restaurants up over 35% year-over-year. “Even our service businesses were up over 20%," says Matthew.
