Italian jacket maker Moncler and Spanish accessories house Balenciaga are the latest tenants at the Scentre Group’s $5.4 billion flagship shopping mecca in Pitt Street Mall.
Since 2010, Westfield Sydney has more than tripled the number of luxury retail brands from 11 to 36. The mall has been a part of the growing trend of luxury brands seeking a bigger and glitzier bricks-and-mortar presence on the East Coast.
The 166,340-square-metre mall generated more than $23,000 of speciality sales per square metre last year and annual sales of $1.25 billion, Scentre Group disclosed on Wednesday.
"We are seeing continued strong demand for high-quality space. Our brand partners want to be in the best locations. Extraordinary retail continues to do well," Scentre Group chief executive Peter Allen said.
In the coming years, Westfield Sydney will offer more luxury retail space when it expands into the David Jones Men’s store in Market Street.
Image and article source: https://www.afr.com/real-estate/commercial/leasing/luxury-tenants-moncler-and-balenciaga-for-westfield-sydney-20190220-h1bho7
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