Yahoo Finance Celine, Christian Louboutin, Fendi Coming to San Diego’s Fashion Valley as Part of Luxury Buildup
Simon is bringing more luxury to the Fashion Valley center in San Diego.
Celine is slated to open in the second quarter of 2024; Tudor, Veronica Beard and Zimmermann are also slated to open this year, and Christian Louboutin and Fendi both will open in 2025, Simon announced on Monday.
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Dior, Bottega Veneta, David Yurman and Dolce & Gabbana recently moved into Fashion Valley, which in April completed a revitalization at a cost of “several hundred millions of dollars,” according to Simon spokesperson.
In addition, Rolex Boutique Fourtané expanded its footprint, doubling in size to unveil a custom San Diego-inspired design concept with private consultation rooms and a two-story exterior facade, and Omega plans to reopen this year. Prada, Gucci, Louis Vuitton, Saint Laurent and Cartier are among the luxury brands already with stores in the center. The center also houses brands such as Levi’s, Banana Republic and Lululemon.
“Fashion Valley is the premier luxury shopping destination for San Diego and its surrounding areas, drawing an affluent shopper base from an exceptionally large trade area, including the greater San Diego region and Mexico. Due to this unique positioning and Simon’s continued reinvestment, it attracts some of the most prominent names in luxury and European fashion,” said Vicki Hanor, Simon’s senior executive vice president and managing director of luxury leasing. “This is just the beginning of this exciting new chapter of robust growth as we look forward to welcoming even more iconic names to our growing list of luxury brands.”
Simon, a real estate investment trust, is the nation’s largest owner, operator and developer of shopping, dining, entertainment and mixed-use destinations.
According to Simon officials, Fashion Valley is developing a community of 850 multifamily luxury residences in partnership with AMLI Residential. The community will include 100,000 square feet of new retail and “one-of-a-kind” dining experiences along with open green spaces and parking for residents and guests. This retail and residential redevelopment project is expected to begin immediately following JCPenney’s planned closure at the end of 2025 and is anticipated to be complete in late 2026.
“We’re excited about this next phase of Fashion Valley as we continue to reinvest and add a walkable, livable lifestyle community that is intertwined with handpicked luxury brands that can only be found here,” said Mark Silvestri, president of development at Simon. “This redevelopment marks a new era of sophistication and convenient living in San Diego.”
Along with Fashion Valley, several other key Simon properties are undergoing what executives call “strategic transformations.” Woodbury Common Premium Outlets, owned by Simon, is adding 155,000 square feet of retail and restaurant space, bringing the center to over one million square feet, as well as a parking deck with 3,000 spaces to help relieve traffic jams and a 200-room hotel, and even a helipad. Simon plans to further invest in The Galleria in Houston with an interior and exterior revitalization. The real estate investment trust indicated that to date, it has invested several hundred million dollars in the redevelopment of the property.
AMLI Residential develops and manages “environmentally responsible” luxury apartment communities in the U.S. Founded in 1980, AMLI is owned by Prime Property Fund, a core commingled institutional fund. Currently AMLI owns and manages 77 apartment communities, including approximately 26,000 apartment homes, and has more than 2,900 additional apartment homes under development at seven new communities.
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