Tiffany’s, H&M Open in French Quarter
By Eliza Theiss, Associate Editor
New Orleans, the city that not so long ago had one of the biggest shortages of retail in the nation, just keeps adding retail options. From big-box retailers such as Walmart to affordable fashion icon H&M to luxury retailers such as Tiffany’s, everybody seems to want to set up shop in the Big Easy. A combination of filling in of post-Katrina shortages, rebounding population numbers, and a growing local economy with existing and expected high-income employment opportunities in the technology and biosciences sectors have increased disposable income in the region. Also, as reported by The New Orleans Advocate, the city’s booming hospitality industry and growing reputation as a convention hub bring further high earners into the area, with an eye for luxury and a population that in some cases comprises as much as 30 percent of a store’s clientele.
One of the latest arrivals to the Crescent City is iconic jeweler Tiffany & Co., which opened its first New Orleans store on Canal Street, reports The Times-Picayune. Located in the Shops at Canal Place, the 3,900-square-foot store took over space vacated by local jeweler Mignon Faget, which moved to a larger setup just a few feet away. Tiffany’s New Orleans, a location 10 years in the making, is the 94th U.S. store for the world’s second-largest luxury jewelry retailer and incorporates design elements from the flagship Fifth Avenue store in New York. Tiffany’s will employ 21 in New Orleans.
Another big retail event was the recent inauguration of the Pelican State’s first H&M store, a virtual mecca for the young and hip. According to The Times-Picayune, the 32,000-square-foot outlet opened on Decatur Street with thousands of customers lined up on the street. The affordable clothing and home décor bonanza is located at the former site of the Hard Rock Café and is expected to increase the area’s foot traffic. Eighty percent of the store’s 80 employees are local hires.
Photo courtesy of Michelle Irizarry via Facebook.Tags: Architecture/Design, Brokers, Consumer, Developers, Development, Economy, Finance/Investment, Financiers, French Quarter, French Quarter retail, h&m, Investors, job creation, Local, luxury retail market, Mignon Faget, National, New Orleans, New Orleans jobs, New Orleans Lead Story, New Orleans retail market, Owners, Regional, Retail, Shops at Canal Place, Tiffany&Co., Tiffany's, Walmart