Stella McCartney to open first store in Latin America
today Feb 15, 2017
British luxury brand Stella McCartney is gearing up to open its first store in Latin America in Mexico, FashionNetwork can reveal.
The designer brand will open a shop-in-shop in luxury department store Saks Fifth Avenue Santa Fe, located in Mexico City. Further details have not been provided.
The nearly 17,000 sq ft building in Santa Fe has been recently refurbished to allow for the opening of 15 new concession stores, including new shop-in-shops for Céline (2,389 sq ft) and Valentino (1,820 sq ft). Additionally, a number of brands such as Louboutin, Alexander McQueen, Balenciaga and Jimmy Choo are expanding their ranges by adding men’s collections in the store for the first time.
Saks Fifth Avenue made its debut in Mexico in 2007 in partnership with business magnate Carlos Slim, who is one of the largest shareholders with a 15% stake in the company.
The first store was launched in Santa Fe, followed by a second opening at Plaza Carso shopping mall in 2010. Saks Fifth Avenue is currently planning its third opening in Perisur, Mexico City. The new location will occupy a space of 10,600 sq ft.
As for Stella McCartney, the brand has enjoyed years of double-digit growth, according to Kering’s financial reports. The high-end label was created as a 50/50 joint venture between Kering and the fashion designer in 2011.
Stella McCartney, which has been recognised multiple times for its ethically conscious designs, forms part of Kering’s luxury portfolio together with Gucci, Saint Laurent, Bottega Veneta, Christopher Kane and Balenciaga.
In 2016, the leather goods and couture categories increased by 4.2%, boosted by Balenciaga, Alexander McQueen and Stella McCartney, “whose collections have proven very successful” said the group.
Stella McCartney has directly-owned stores and franchises in London, Los Angeles, Milan, Rome, Madrid, New York, Paris and Dubai, to name a few.
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