V&A Waterfront expands for luxury brands
Cape Town’s V&A Waterfront will soon be a one-stop luxury shopping destination in South Africa, as luxury fashion brands like Gucci, Louis Vuitton, Dolce & Gabbana and more prepare to set up shop at a new R207 million expansion at the mall.
As reported by BusinessTech, David Green, V&A Waterfront’s Chief Executive Officer, has revealed that the shopping mall is tripling its rental space available for luxury retailers to almost 4 000sqm in a dedicated new wing.
The new R207 million development expects to add as many as six new brands, including Capri Holdings Ltd.’s Versace, Dolce & Gabbana Srl, LVMH’s Louis Vuitton and Kering SA’s Gucci, as well as existing offerings like Burberry Group Plc and MaXhosa Africa.
These luxury brands are already available at the V&A, but are scattered throughout the mall. The new expansion will bring them together in one area, doubling their store sizes and creating a smooth luxury shopping experience.
Festive season brings in almost R1.4 billion in retail sales
This new expansion is hot on the heels of the V&A’s recent festive season sales success, which saw the mall achieve record retail sales of almost R1.4 billion.
A new addition to the V&A Waterfront’s retail offering which helped bring in sales, was the opening of the repurposed Union Castle Building. This introduced high-profile tenants such as Marble Restaurant, Nike, Thule, and Wedgewood to the Waterfront.
These additions and other tenant mix enhancements such as the enlarged and relocated Yuppiechef and Mr Price offerings as well as fresh new brands such as Amiri, North Face, Karl Lagerfeld, Deus ex Machina all contributed to drive close to double digit sales growth with more than R10 billion being spent in the precinct during 2024.
Which is your favourite mall to shop at in South Africa?
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