<\/p>\n
\n\tLAND OF PLENTY: Luxury growth in America is no longer confined to a handful of established destinations, but is spreading to pockets of wealth in \u201cemerging markets\u201d across the country, according to a new study from Savills, the global real estate company.<\/p>\n
\n\tThe report, \u201cAmerica\u2019s Expanding Luxury Map,\u201d concluded that retail success today is dependent upon identifying where the next cohorts of affluent consumers are emerging.<\/p>\n
\n\tThe report points to Herm\u00e8s, which is using customer, demographic and location data to identify \u201cgrowing concentrations of wealth,\u201d and opening stores in locations such as Short Hills, N.J., and Wilmette, Ill., \u201creflecting a broader industry focus on bringing luxury retail closer to affluent consumers rather than relying solely on traditional gateway markets.\u201d<\/p>\n
\n\tSavills said much of the new U.S. wealth is springing up locally through sectors such as technology, finance, energy and health care as well as entrepreneurial businesses. At the same time, investment in luxury residential developments, hospitality and lifestyle amenities is helping to strengthen the appeal of a growing number of markets.<\/p>\n
\n\tThe report pinpointed Scottsdale as one of the clearest examples of new wealth creation. The city is adding millionaires at a faster rate than almost any other city globally, and has attracted growing interest from luxury brands, with Scottsdale Fashion Square welcoming Arizona-first boutiques from Loro Piana, Herm\u00e8s and Montblanc.<\/p>\n
\t\t\t\t\tThe Herm\u00e8s store in the Williamsburg section of Brooklyn.<\/p>\n
\t\t\t\t\t\t\t\t\tSam Frost\/Courtesy of Hermes<\/p>\n
\n\tRegional wealth is also coming from local investment. Savills said that while Dallas has long had a substantial affluent consumer base and established luxury shopping culture, \u201crecent investment demonstrates how strong underlying fundamentals can support the emergence of new luxury destinations within an already mature market.\u201d<\/p>\n
\n\tAccording to the report, Knox Street, north of downtown Dallas, has emerged as \u201ca hotbed for luxury retail activity,\u201d attracting brands such as Toteme, Staud, D\u00f4en and Cult Gaia, alongside a new 10,000-square-foot Conservatory, a multibrand, cross-category concept store.<\/p>\n
\n\tThe neighborhood is also home to The Knox, Auberge Collection hotel and residences, making it a destination for luxury shopping, dining and hospitality.<\/p>\n
\n\tAt the same time, gateway markets such as New York, Miami and Los Angeles continue to flourish. New York, home to an estimated 384,500 millionaires, has topped the latest Savills \u201cNext-Generation Wealth Hubs Index\u201d once again. Savills describes the city as \u201cone of the world\u2019s leading centers of wealth and influence.\u201d<\/p>\n
\n\tMiami, San Francisco and Los Angeles also rank among the global top five in the index, \u201chighlighting the depth of affluent consumers that continues to underpin the U.S. luxury market,\u201d Savills said.<\/p>\n
\n\tAccording to the Savills Global Luxury Retail Outlook 2026, North America accounted for 27 percent of luxury store openings in 2025, the largest share of any region and the first time it led the rankings since Savills began tracking activity in 2016. New York also reemerged as the world\u2019s leading city for new luxury store openings, with activity rising 23 percent year-on-year.<\/p>\n
#Luxury #Brands #Focus #Ritzy #Towns #Suburbs #U.S #Wealth #Map #Widens<\/p>\n","protected":false},"excerpt":{"rendered":"
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