THE FORUM SHOPS AT CAESARS CONTINUES ITS WINNING STREAK WITH MORE RETAILERS, EXPANSIONS FOR 2011
Premier Retail Destination Remains the Leader with Unparalleled Sales Growth and More Openings in 2011 including Christian Louboutin, Hublot and Rimowa
Continuing its demonstrated record of success, The Forum Shops at Caesars maintains its leadership position as one of the nation’s top-performing shopping centers with unparalleled sales growth for the year.
Highlights of 2010-2011
Eleven new stores and restaurants have come to The Forum Shops in the past year. Among them are several firsts to the market such as Reed Krakoff, Inglot, UGG Australia, Max Brenner, Chocolate by the Bald Man, P.J. Clarke’s and the world’s largest, flagship H&M.
* Six more new stores are coming soon including Christian Louboutin, Rimowa, Panerai, Hublot and Coach Mens – a first in Las Vegas.
* Due to increasing sales and demand, seven world-renowned retailers have expanded.
* Four are remodeling, renovating or relocating within the famed retail center.
Strong sales trends for 2011 reflect a double-digit increase with a noticeable emphasis on luxury brands. Currently, The Forum Shops remains the leader in the industry in producing the highest sales per square foot annually – effectively tripling the national average.
“We continue to demonstrate strong sales revenue performance at The Forum Shops with an increase of 20 percent year to date in 2011,” says Vicki Hanor, executive vice president of leasing, Simon Property Group. “Our strong sales have been positively affected by the center’s luxury brand direction and the continual enhancement of tenant mix serves to further strengthen our position in the market place. Without question, The Forum Shops continues to effectively navigate the dynamic economic climate to create a desirable shopping landscape for consumers as well as retailers.”
Since May 2010, The Forum Shops welcomed 11 new prestigious retailers and restaurants including Reed Krakoff with its first west coast location, the world’s largest H&M, Christian Audigier, Bettie Page, True Religion, Inglot, La Martina, Skechers and UGG Australia. Restaurant additions included, P.J. Clarke’s first venture to the west coast and Max Brenner, Chocolate by the Bald Man in its second U.S. location.
“We were so pleased to open the world’s largest H&M store this past December in The Forum Shops at Caesars – Las Vegas’ premier retail, dining and entertainment destination. The uniqueness of the location allowed us to design a one-of-a-kind flagship store with breath-taking interior that matches the excitement and energy of Las Vegas itself,” said Daniel Kulle, President of H&M North America. “The Forum Shops, one of the country’s most successful shopping venues, is a perfect fit for H&M’s brand concept of offering the latest fashion and quality basics at the best prices.”
In the past year six prestigious retailers reaffirmed their ongoing commitment to the strength of The Forum Shops and have expanded including Burberry, Cartier, St. John, Ermenegildo Zegna, Gucci, and Versace.
New retailers for 2011 that are opening soon at The Forum Shops include:
* Christian Louboutin: Synonynous with luxury and quality, Christian Louboutin’s new location will feature the French designer’s luxury shoe and bag designs and collections in a boutique atmosphere. (Opening Summer 2011)
* Hublot: Representing the art of fusion in fine watches, Hublot symbolizes the synergy between tradition and future through design, knowledge and craftsmanship. Opening its fourth domestic location at The Forum Shops, Hublot is a boutique salon dedicated to the world of Hublot. (Opening Summer 2011)
* Rimowa: The sleek, hard-case, lightweight and spin-able luggage lands at a new prestigious address when the Rimowa boutique opens at The Forum Shops. An instant must-have by celebrities and travelers of all kinds, Rimowa’s bold line of luggage can’t be missed. (Opening Summer 2011)
* Panerai: Founded in Florence, Italy, Panerai makes many fine watches often as either limited or special editions. Opening its first Las Vegas boutique location, Panerai offers fine watch enthusiasts the ultimate in craftsmanship.
* Sephora: A powerful beauty presence worldwide, Sephora is highly regarded as a beauty trailblazer, thanks to its unparalleled assortment of prestige products, unbiased service from experts, interactive shopping environment and innovation. (Opening Fall 2011)
Nike recently opened with an expansion. The new Nike Las Vegas will open in its full capacity in mid-July with a complete multi-category offering and brand experience. The store is open in a limited capacity until July featuring all things basketball, including Kobe, LeBron and Jordan brands.
“We are excited to be expanding Nike Las Vegas at The Forum Shops,” said Tim Hershey, VP/GM for Nike North America Retail. “Our expanded Vegas location will be an expression of Nike’s newest retail concept, delivering new and innovative consumer experiences, market tailored product offerings, community resources and the introduction of team customization services. It will be the fifth of its kind in the U.S.”
In order to better serve customer needs, another five retailers are remodeling, renovating or relocating within the premier shopping destination including Salvatore Ferragamo, Louis Vuitton and Roman Times. Italian luxury fashion house Fendi is expanding within The Forum Shops to increase its merchandise mix and Giuseppe Zanotti is relocating within the center.
“We have brought shoppers an enhanced mix of desirable retailers at The Forum Shops in this past year,” said Maureen Crampton, director of marketing, The Forum Shops. “We are proud of our renowned reputation and are thrilled by the ongoing presentation and exploration of new and potential leasing and marketing opportunities. This is truly a retail destination that provides a remarkable shopping experience.”
“We take great pride in knowing that retailers remain anxious to secure space at The Forum Shops. Even with increased retail on the Strip, The Forum Shops continues to outperform not only the Vegas market itself but also the U.S. market,” concludes Hanor.
ABOUT THE FORUM SHOPS AT CAESARS
The Forum Shops at Caesars opened 283,000 square feet in May 1992 to immediate success. An August 1997 expansion to 500,000 square feet continued the momentum. The third phase of The Forum Shops’ growth was a three-level expansion extending from the existing retail, dining and entertainment icon to the famed Las Vegas Strip adding 175,000 square feet, with completion October 2004. A grand pedestrian plaza entrance on Las Vegas Boulevard further validates The Forum Shops as one of the finest luxury shopping streets in the world. The Forum Shops is recognized for its unique combination of top retail, dining, entertainment, excellent location and exciting ambiance featuring 150 specialty shops and 15 restaurants. Additional information may be accessed at www.forumshops.com.
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