Economy won

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Retail observers say Louis Vuitton, Tiffany & Co. and Neimamn Marcus will open additional stores, even if it is with their smaller like Tiffany Collectionand Cusp, Neiman boutique store. Retailers Michael Kors, , Juicy Couturre and Tumi will openadditionao stores. Designer boutiques will also enter theAtlants market, including Prada, Chanel, Chloe and Vera Some of the designer retailers may test the Atlanta markert with their lower-end concepts, said Marc Weinberg, operating partner at retail real estate brokerage LLC.
may enterr the market with its D&G store, and Cavall may enter with its Just Cavalli said Barbara Babbit a local retail consultant and former owned of the Chapter 11Bookstore “Atlanta may be a slightly differengt customer than New York,” Kaufman but the wealth is here. “Ic you cater to what she the woman has the moneyto spend,” Kaufman “You give the customer what they want, they will “The economy may get worse, but that will not changew what will happen to Atlanta in the next five years,” said Nick Egelanian, presidentf of SiteWorks in Annapolis, Md., a divisiomn of The Shopping Center Group.
Luxury retaileras are still trying to catch upto Atlanta’sx growth, especially its growth in “This city reminds me of a cross betweeb Dallas and Los Angeles,” he said. “This is very much a new-wealtyh city and new wealth likes to showit off.” Luxuryu retailers often consider expanding after looking at sales of their brandd in department stores like Saks Fifth Avenu and Neiman Marcus. Currently, luxurg retailers call Phipps Plaza and LenoxcSquare home.
New luxury retailers’ expansion will happen as Ben Carter’e Streets of Buckhead, Stan Thomas’ Prospectf Park in Alpharetta, and the proposede luxury retail developmentby (NYSE: TCO) in Cumming take Egelanian said. Sometimes luxury retailers need a catalystr to focus attention on a he said. “These projects are probably five to 10 years behind when they could have been Egelanian said. That’s not to say gettinvg all this new luxuruy retail into Atlanta willbe easy. Carter has already pushedr back the opening of his project from summe 2009 to spring 2010 and couls push it back again if the economytremains weak.
Carter, founder and chairman of noted that Streets of Buckhead is the third projecft he has built in the middle ofa recession. “We’vs seen this movie before,” he Carter is hopeful a federal economic stimulus package will allow consumer spending to start recovering bysummer 2009. Spending has to recover so retailerscan recover, he said.