Luxury outlet malls on the rise in the US


There are outlet malls and then there are luxury outlets. Having realized the importance of bargain stores in recent times, luxury brands like Saks Fifth Avenue, Nordstrom, Tumi, Neiman Marcus and Michael Kors are taking a keen interest in this new market. With Nordstrom planning to double its Rack outlet stores and Saks looking at 100 stores as its target, you cannot deny the importance of these kinds of luxurious bargain influenced outlets. And it’s not just a word of mouth, even number tell the same story – Nordstrom Rack showed an increase of 7.3 percent, which is more than double of the regular Nordstrom stores. Considering the global impact of this economic depression, people are in fact looking at only discounted stores to fulfill their hunger for luxury, and luxury brands are answering that call in most apt manner.
[Reuters]

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