We want to shine a spotlight on up-and-coming retailers that are still in their infancy with U.S. expansion yet are showing signs that they are on the path toward becoming major players in the national realm. Each of these buzzed-about brands may only have a small number of stores — if any — in the U.S. at the moment, but they are definitely tenants to keep an eye on in the future.
For this installment, we feature niche luxury accessory brands, a category that is popular right now because it allows aspirational consumers to dabble in quality and opulence, while still adhering to their bottom-line budgetary restrictions. Whether it’s a bag, a wallet or even shoes, indulging in a smaller accessory item is a less costly way to still feel a sense of exclusivity and provide a little taste of grandeur.
The Frenchie Co.
The Frenchie Co. is a luxury accessories brand based in Colombia that specializes in handcrafted yet functional wallets, backpacks and briefcases in multiple colors. The retailer has a goal of opening about 10 to 15 new stores per year over the next two years in the U.S. In August 2023, two U.S. stores premiered in Class A regional malls: the Westfarms mall in West Hartford, Conn., and the Town Center at Boca Raton mall in Boca Raton, Fla. Rumored areas to be targeted for growth include New York City, Washington, D.C., and Los Angeles, followed by other markets with a large number of affluent residents, including potentially Silicon Valley, Calif., San Diego, Scottsdale, Ariz., Denver, Nashville, Tenn., and Boston.
Units are between 1,300 and 2,000 s.f. and co-tenants should include other luxury brands, including anchors such as Neiman Marcus, as well as other higher-end accessories retailers, such as Rolex or Tumi. Preferred sites are shopping centers that attract customers who seek optimal high-performance products, so malls in high-tech industry towns are ideal. The Frenchie Co., which gained fame in its home country after an appearance on the Colombian version of “Shark Tank” in 2018, will be branching out its product line in the near future to include antibacterial jeans and T-shirts, as well as comfortable leather shoes.
Kurt Geiger
Kurt Geiger may be a well-known British footwear/accessories brand with over 70 standalone stores in the U.K., but its U.S. presence has only been relegated to its wholesale merchandise sold in Bloomingdale’s, Nordstrom and Dillard’s. However, that is all about to change this year thanks to the $191M of funding Kurt Geiger received in June 2023 from the Wells Fargo Capital Finance U.K. and Blazehill Capital.
By February, Kurt Geiger expects to begin opening the first of its six stores in the U.S., starting with a 1,500-s.f. unit in the Aventura Mall regional shopping center in Aventura, Fla., a suburb of Miami. The brand will open one more store in Florida, one store in New York and three units in Southern California. Texas is also on Kurt Geiger’s radar for future growth. From 2025 until 2028, Kurt Geiger expects to continue opening new stores in the U.S. at a rate of between three and six per year.
Expect popular Class A luxury shopping centers with high-foot traffic numbers to be targeted. Potential space should be between 1,500 and 2,500 s.f. and co-tenants should include not just luxury brands, such as Gucci or Chanel, but also more affordable “aspirational” luxury brands, such as Aritzia and Free People. This is because although Kurt Geiger is considered a luxury tenant, most accessories are in the $55 to $200 range, well below the usual higher-end retail prices. Kurt Geiger has become especially popular for its brightly colored artistic purses.
FOUNT
This Ohio-based fine leather accessories brand — renowned for its handbags, purses and wallets — is steadily making strides with expansion into new territories, most recently with a 2,281-s.f. storefront that opened in late December in the Southlake Town Square in Southlake, Texas, next to a Coach store.
This makes it the fifth store for the brand, and its second new store opening in 2023, with another unit that had its debut in the Easton Town Center in Columbus, Ohio, last May. Texas is the third U.S. state for the brand as FOUNT also has a store in Lexington, Ky. Although FOUNT has not officially announced its expansion goals, the retailer has said it has a large customer base in California, which may be a hint to potential upcoming stores in the Golden State, as well as in other Sunbelt states such as Georgia, Arizona and Florida. Anticipate between two and five new stores per year in the immediate future.
FOUNT has been increasing its store sizes to accommodate its growing merchandise, and the retailer now seeks spaces in the 2,000- to 2,500-s.f. range. Potential inline or end cap units can be in “townscape” lifestyle centers, ground floors of mixed-use buildings and retail street-front sites within more affluent suburban neighborhoods. There should be a unique mix of co-tenants that appeal to an older millennial and Gen X audience, in the 33- to 50-year-old age segment, such as Pottery Barn, Sur La Table, Kendra Scott and Madewell. FOUNT utilizes ethically sourced Italian leather for its products that are handcrafted with the help of skilled artisans based in the U.S., Mexico and the Dominican Republic.
