Welcome to luxury’s latest frontiers. After years focused mainly on expansion in China, luxury brands are rediscovering the U.S., opening boutiques across America in cities where they have never previously operated stand-alone stores.
Once concentrated in a handful of places, wealth has spread to new parts of the U.S. in recent years, with cities such as Atlanta and Austin, Texas, emerging as new tech hubs, for example. The rise of these new wealth centers is driving the strategy, luxury companies say, drawing them beyond traditional U.S. mainstays of New York and California. China’s strict approach to containing Covid-19 has further bolstered the case for U.S. investment. In a bumper year so far for luxury revenues, China has been a laggard, its performance as a high-end market undone by strict lockdowns in Shanghai and other major cities—restrictions that executives say they fear could be repeated. Sources: https://www.wsj.com/articles/the-hot-new-trend-for-gucci-and-chanel-middle-america-11659691801?st=zkup676krmg6jt5&reflink=desktopwebshare_permalink