In San Francisco, A Retail Frenzy as Dolce & Gabbana, Moncler, Martin Margiela, and Others Move In

San Francisco continues to be a major destination for retailers looking to open new doors, and it’s no wonder.

Silicon Valley’s hoodie generation is (finally) growing up and spending those start up dollars on all manner of luxury brands, although Shhhhh… the more discreet the better.

Not so for the bay area’s growing Asian population, another key target, which is an added bonus for brands looking to extend their reach beyond the sneaker set.

They’re also willing to pay the price: rents are up 30% over the past year, and according to a recent Cushman Wakefield report, the average Union Square space goes for $650 per square foot per year, making San Francisco the sixth most expensive market in the country, next to New York’s Upper Fifth Avenue, Times Square, Madison Avenue and Lower Fifth Avenue and Los Angeles’ Rodeo Drive.

So say goodbye to that very strange Porsche Design store on the corner of Grant and Geary and say hello to a massive Dolce & Gabbana which will occupy the space as well as additional one next door. They’re also planning to take over part of the building’s first floor. Rumor has it the owner had no trouble finding someone else to take such a prime space and was happy to show Porsche the door.

Perhaps one of the most valuable spaces in Union Square, Grant and Geary is home to the Porsche Design store — but not for long.

Meanwhile construction has already begun on the new Martin Margiela store at 134 Maiden Lane, just across from Chanel. MM has already received loads of positive press with the recent appointment of designer John Galliano, and his first show in London got rave reviews.

Down the lane you’ll also find Italian label Marni getting ready to break ground on their new store. They’ll be in good company with Brunello Cuccinelli just around the corner.

Powell Street’s Uniqlo will be in good company with Jins, the Japanese mega-retailer of glasses and frames, which will be opening at 151 Powell this spring. That’s what we call a nice adjacency. The 5,000 square foot space will be home to 1200 styles of frames and shoppers can get their prescription filled in thirty minutes flat. We can assume that the store will resemble those designed by Japanese firm Suppose Design Office.

Japanese retailer Jins will open a new store on Powell street. The San Francisco store is part of the company’s global expansion strategy.

It’s no secret that Moncler has been enjoying steady sales of its pricey puffers at Barneys New York, so it makes sense that they took the lease for 212 Stockton Street.

Yes, that’s currently Loro Piana’s space but don’t worry, LP will be moving over to Ferragamo’s old spot in-between Louis Vuitton and Macy’s. Now they get to be the ones having to deal with women asking for the Macy’s bra department.

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