Luxury brands gearing up for US expansions: Reuters


Luxury spending in the United States collapsed after the 2008 financial crisis but roared back to pre-crisis levels by 2012. Last year, the world's No.1 and No.3 luxury groups LVMH and PPR saw higher growth rates in the United States than in China for the first time in years.

To capture those buyers, brands are now expanding beyond New York, which accounts for a third of U.S. luxury sales, and the next two main cities of Los Angeles and Miami.

Last month, Hermes opened in Greenwich, Connecticut - an area popular with financial professionals and their families - and plans to expand in cities like LA, Miami, Houston, Dallas and Boston over the next two years.

PPR's brands, which include Balenciaga, Gucci and Stella McCartney, are looking at Dallas, Atlanta, Chicago, Miami, Orlando and Philadelphia.