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I would think that some of the luxury retailers are hurting right now, as people are scaling back and curbing their spending to make ends meet. For me, personally, I would much rather make sure that my mortgage and bills are paid, as well as make sure there's food on the table, than be concerned with sporting the "latest" and "greatest" brands.
With that said, I'm sure there's a reason why certain high end stores do not have a presence in Charlotte. Their market research must have indicated that it would not be beneficial open here, so they haven't.
The wealthy start behaving like normal people as soon as economy goes south, which makes the notion of increasing their tax breaks to improve economy a non starter. the wealthy curb their spending in bad times and would only put away their savings, and not influence the economy.
This argument is dated, i realize, since economy has picked up , but i overhead the conservative lady in the Mclaughlin group rehash the notion just recently
This is something old I found about Saks not coming to Charlotte
Mall management tried hard to convince the retailer to become its fifth anchor tenant, adding to the prestige of SouthPark's pending addition of Nordstrom. No deal could be worked out, however, before the mall's new owners, Simon Property Group, took over the center last spring.
Dee Dee Harris killed Saks for now, and the real reason they aren't here is because with a Neiman's and Nordstrom the luxury market of Charlotte is at what it can handle. Here's a little secret though: SAKS was in for the Augustalee/Village at Lake Norman project that may or may not happen up in Cornelius. Whole Foods... it's about politics...
Saks would do well at Northlake Mall, they still have a opening for another department store. Whole Foods may go in now at Midtown Metropolitan where the Home Depot Expo Center used to be. Btw, a 1st class city is because it offers all or most of retail, restaurants, hotels and restaurtants. Why would you not want Charlotte to gain all that it could? It's not gonna stop growing. The other cities may have a Saks, but do not have the other stores that Charlotte has, thats why its there, Raleigh has a Saks too, but no Neimans. Charleston only has Saks.
Saks would do well at Northlake Mall, they still have a opening for another department store. Whole Foods may go in now at Midtown Metropolitan where the Home Depot Expo Center used to be. Btw, a 1st class city is because it offers all or most of retail, restaurants, hotels and restaurtants. Why would you not want Charlotte to gain all that it could? It's not gonna stop growing. The other cities may have a Saks, but do not have the other stores that Charlotte has, thats why its there, Raleigh has a Saks too, but no Neimans. Charleston only has Saks.
Agreed. The economy took a hit on not just Charlotte but the vast majority of America. Charlotte is a fast growing city and if I had to make a best educated guess, it will continue to grow at a fast pace. We will end up getting these stores to come..and why wouldn't we want it? Every larger city wants to have all options! It will come, but everything is either in slow mode or on a freeze right now..and it very well should be, the economy needs to recover before adding more stores here. For now, I am happy with what we have! And I'm even more excited about getting Nordstrom Rack than I would ever be about getting a SAKS!
If you really want Saks or Whole Foods then drive to a city that has them. Every city is turning into a carbon copy of every other city. Soon there won't be anything about Charlotte that makes it a destination worth visiting. I think individuality & uniqueness are good traits to cultivate. If I wanted to move to NYC or Newark or Chicago or LA I'd be there.
CHARLESTON, SC (WCSC) - Saks Incorporated announced it will close its Saks Fifth Avenue store on King Street, after serving the Charleston community for 14 years
The store will close on July 17th. Saks Incorporated also announced it will close stores in Portland and San Diego
This space won't be empty for too long, clothing and accessory retailer Forever 21 says it will move into the 33,000 square foot space later this year, and bring along with it 150 new jobs.
The reason probably is because Neimans and Nordstroms are all the market can Handle. While most Neimans are over 100,000 square feet Charlotte has the smallest one. The Demand Is just not there yet. Give it sometime there will be more options in the future for those who enjoy luxury Shopping..
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