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JLL: Five Markets Rule US Luxury Retail, for Now

NEW YORK CITY—While core markets still top the list for luxury retailers, “many of these metros are saturated and that's pushing expansion in secondary cities,” says Michael Hirschfeld, SVP of JLL Retail.

By Geoffery Metz | Updated on December 08, 2014

NEW YORK CITY—While core markets still top the list for luxury retailers, “many of these metros are saturated and that’s pushing expansion in secondary cities,” says Michael Hirschfeld, SVP of JLL Retail. He was referring to the findings of JLL’s The New World of Retail report, debuting today at the ICSC New York National Deal Making Conference. The report tracked the expansion of 350 retailers across the United States, assessing the vitality and attractiveness of retail markets.

The majority of luxury storefronts reside in five major cities—New York, Chicago, Las Vegas, Miami and San Francisco—and in fact saturate those markets with forty percent of the luxury retail locations in the country. “Luxury goods embody elegance and acute attention to detail, and the storefronts and locations that encapsulate these treasures must be as unique as the goods themselves,” said Hirschfeld.

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