The Forum Shops at Caesars, a premium address for luxury shopping, was named #1 Enclosed Mall and #2 Mall Worldwide in 2012, based on annualized sales per square foot in Shopping Centers Today, a publication of the International Council of Shopping Centers.
The 2012 award was anniversary present for The Forum Shops, which also celebrated its 20th year in business. Last year, the mall hosted its first-ever Special Olympics Torch Relay, welcomed 11 new tenants (including Diane von Furstenberg) and presented Fashion’s Night Out. Alfred Dunhill, Rolex, Kate Spade, Breitling and Henri Bendel also opened in 2012.
Seven additional retailers remodeled or expanded in the past year including Louis Vuitton, Salvatore Ferragamo, a doubled-in-size Swarovski, bebe and Brighton Collectibles. Fendi expanded with a flagship format, opening a second boutique to house an exclusive stand-alone Fendi Shoe Salon. Looking ahead to early 2013, Michael Kors will debut its remodeled and expanded store.
“We recognize the growing importance of retail to the Las Vegas visitor. Shopping while in Vegas has grown over the years and today more than 61% of our visitors shop at some point during their stay in Las Vegas,” says Maureen Crampton, director of marketing and business development, The Forum Shops. “That’s why we take such great pride in offering shoppers the perfect mix of prestigious retailers and desirable brands.”
Vicki Hanor, executive vice president of leasing, Simon Property Group, noted the double-digit sales increases in 2012. “Luxury brands, accessories, men’s and women’s apparel and restaurants have all showed particular strength this past year and our strong sales have been positively affected by the center’s luxury brand direction and the continual enhancement of tenant mix.”
The mall also has a unique characteristic where the sky (or mall ceiling) changes from day to night and back again, creating the illusion that consumers are shopping outdoors. Enclosed malls often feel stifling–a reason that has contributed to the rise of outdoor lifestyle centers. The Forum Shops bridge that gap, giving consumers an “outdoor” experience within an enclosed environment.