Saturday, May 28, 2022

[EXCLUSIVE] Dior on the Move to Phipps Plaza?

A newly installed barricade at Phipps Plaza indicates that Dior will open a new store on the first floor of the Saks Fifth Avenue wing.  The store, which in our estimation will measure approximately 6,000 square feet, will reportedly carry both men's and women's ready-to-wear as well as fashion accessories, and Maison, according to a Dior employee.  

Although there has been no official comment, it's widely believed that the new Phipps Plaza boutique will ultimately be instead of, rather than in addition to, the designer's existing shop at Buckhead Village District, which opened in a roughly 5,000 square foot Peachtree Road facing space in August 2016.  The company also operates a small shop-in-shop within Saks.   

In Phipps Plaza, Dior is joining a luxury roster that already includes some of the most sought after names in designer clothing and accessories.  Boutiques surrounding the new Dior store include a newly relocated Bottega Veneta, Dolce & Gabbana, Valentino, Gucci, Balenciaga, Saint Laurent and Tiffany & Company, among others.  AMIRI, another luxury label, is slated to open just its fifth overall U.S. boutique when its debuts a new 6,000 square foot boutique in the Nordstrom wing later this year.  

Tom Ford, which initially launched in the Atlanta market with a glitzy Peachtree Road facing store at Buckhead Village District (then The Shops Buckhead Atlanta) in 2016, itself relocated to Phipps Plaza in 2019.  ToNeTo Atlanta reported February 22 that Brunello Cucinelli, a current tenant at Buckhead Village District, is also moving to Phipps, with plans to open in a roughly 3,000 square foot space next to to the new Bottega Veneta and across from the upcoming Dior.  

ToNeTo Atlanta previously reported that longtime Phipps Plaza tenant Talbots closed May 21.  Additionally, Mori Luggage & Gifts, another longtime Phipps tenant, also closed in recent days, as did a separate Tumi store it operated, too.  Lilly Pulitzer closed its ten year old store at Phipps Plaza May 7, and while they did also recently open a new store at Avalon in Alpharetta, a store associate indicates that the company intends to return to Buckhead when "the right location" becomes available.  

F.O.M. Frame of Mind, an independently owned eyewear retailer that originally opened in the mall September 2019,  is on the move within the mall.  Currently located in a roughly 900 square foot space on the first floor near Starbucks, the boutique eyewear shop is relocating to a roughly 1,400 square foot space on the second floor across from Claire's.   

Despite some shoppers' negative perception of Phipps Plaza (and to a greater degree, Lenox Square), owner Simon Property Group continues to see robust interest in both properties according to those with knowledge of their leasing efforts.   Much of the Phipps Plaza interest is likely attributable to the upcoming One Phipps Plaza development that will not only bring several thousand white collar office workers, but also a new 152 room Nobu hotel and restaurant as well as a new food hall and upscale LifeTime Athletic Club.  The multi-phase project is slated to see its first openings as soon as September.  

ToNeTo Atlanta is tracking several other high profile openings slated for Phipps Plaza and Lenox Square and hopes to have news to share in the near future.  

Dior is reportedly slated to open in early 2023.

Inquiries seeking comment from Phipps Plaza management were not immediately answered.

What are your thoughts on the changes and evolution of Phipps Plaza?  When was the last time you visited Phipps Plaza?  Are you looking forward to the One Phipps Plaza development?

Please share your thoughts below. 

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