The new wing has been a huge hit, and the busy mall is now even busier.Even when you have a property that has no trouble attracting shoppers, a little facelift can work wonders. Expanding on that, a massive new wing can stop consumers in their tracks. That’s what’s happened at the King of Prussia mall, which just celebrated the one-year anniversary of its brand new luxury wing. As Philly.com shares, the new wing has been a huge hit, and the busy mall is now even busier.
The wing debuted on Aug. 18, 2016, and retailers such as Shinola, COS, Mitchell Gold + Bob Williams, Bottega Veneta, and Hermes have opened their doors since that point. Rick Sokolov, president and chief operating officer for mall owner Simon Property Group, offered up some thoughts on what the new wing has meant for the mall as a whole.
“All of the tenants that moved from over the existing wing to new flagship stores under the expansion have dramatically increased their sales,” Sokolov said. “The expansion itself has substantially increased the traffic flow between the two parts of the mall. … The success of it can be really found by all the tenants that continue to open in the wing.”
Canada-based retailer Indochino is one of the new kids on the block at the wing, and Dean Handspiker, Indochino’s vice president of design, product and showroom development, noted that it was a no brainer to join the lineup at KoP.
“We were looking for a regional powerhouse to complement our Chestnut Street location and provide easy access for customers living outside the city center,” he said. “King of Prussia is one of the top 10 shopping malls in the country, and its new luxury wing has attracted a wave of affluent shoppers who are discovering that they’re able to get the same luxury tailoring experience for far less at Indochino.”
Sokolov notes that there’s more to come for the luxury wing, including a pair of “national, sophisticated restaurant concepts.” “We want to have the best of the best at KoP,” Sokolov added. “Stay tuned.” As Sokolov sees it, the success of the wing is further confirmation that there remains plenty of strength in the shopping mall industry.
“We have tried to provide facts and actual results to the public narrative about the demise of the mall,” Sokolov said. “I invite anyone to visit KoP and walk away from it with anything other than a very vibrant, vital, and impactful retail, dining and entertainment venue.”
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22 AUGUST 2017, USA