Triple Five Group, owners of West Edmonton Mall, have secured two game-changing luxury retailers for its New Jersey mega-mall, American Dream. Saks Fifth Avenue will open a 131,906 squre foot location in the centre, and French luxury brand Hermès will open an 8,000 square foot two-level store in the mall. Both are scheduled to open in 2017.
Besides Saks Fifth Avenue, American Dream will house Hudson's Bay Company anchor retailers Lord & Taylor (119,605 square feet) and Saks OFF 5TH (30,000 square feet). The New Jersey mall will be the world's first to house all three HBC nameplates.
Securing Hermès is possibly the most remarkable score for the mall so far, as it signals the likelihood that American Dream will obtain similar retailers for its luxury wing. Hermes chooses only the 'best' locations and now that it's chosen American Dream, brands such as Chanel, Gucci and Prada are more likely to follow. American Dream's Hermes will also be one of its largest U.S. locations. Hermes was reportedly attracted to the mall because its luxury wing will be a "streetscape under glass" with the opportunity to create dramatic flagship retail spaces.
Saks Fifth Avenue will open up to eight Canadian locations over the next several years, including two confirmed Toronto locations which will open in February of 2016. Unlike its U.S. locations, Canada's Saks stores will feature upscale in-store 'food halls'. Sources are now saying that Saks may introduce food halls into some of its U.S. locations, with one source saying that Saks' replacement Bal Harbour Shops location near Miami may feature a shop-in-store grocery component. This is speculation until confirmed.
American Dream, located near the Meadowlands Sports Complex in East Rutherford, New Jersey, will span approximately 4.8 million square feet and cost about U.S. $3.5 billion. It will feature in excess of 300 stores and also house an indoor NHL-sized ice rink, an amusement park, water park, concert hall, indoor ski slope, miniature golf, and a Ferris wheel, among other attractions.