Las Vegas Sun

March 28, 2024

Forum Shops’ expansion debuts to high expectations

At the bottom of the signature Mitsubishi spiral escalators in the center of the Forum Shops at Caesars expansion is a statue of a chimera -- a mythical creature that is part lion, part goat and part dragon.

Simon Property Group of Indianapolis, owner of the Forum Shops, said the creature celebrates "fantastic ideas and the creation of imagination."

Simon's competition might take it more literally: As a fire-breathing monster from Greek and Roman mythology that destroyed its competition.

With the opening of the 175,000-square-foot three-level addition today, Simon officials expect the Forum Shops to remain the dominant shopping mall -- not only in Las Vegas, but in the nation.

Forum Shops is considered one of the most successful malls in the country based on its most recent report of $1,432 sales per square foot (annualized based on the first eight months of the year), while the industry average is $345 a square foot on an annual basis excluding anchor tenants.

And while expanding the size of a mall might dilute sales per square foot at any other mall, officials at the Forum Shops are expecting them to hold steady -- if not increase.

Maureen Crampton, Forum Shops spokeswoman, said the caliber of the stores and the expected increase in customer traffic are all reasons for the positive outlook.

"The stores that are opening, looking at their numbers and other locations in different markets and their price points, those elements indicate we'll stay steady if not exceed it," she said.

The latest expansion is not the first for the Forum Shops.

The center opened in May 1992 with 283,000 square feet of space. A second phase opened in 1997, increasing the Forum Shop's size to 500,000 square feet.

The Forum Shops, already known for its upscale and specialty stores such as Gucci, Louis Vuitton and Christian Dior, is adding about 60 specialty retail stores and restaurants, many of them opening up their first stores in the nation, others opening up for the first time on the West Coast. The new addition opened to the public today after an invitation-only gala Thursday evening.

Juicy Couture, known for its women's clothing sold in some department and specialty stores, opened its first U.S. store at the Forum Shops. Kate Spade, known for her signature handbags that can be bought in upscale department stores, also opened her first Las Vegas store.

Other unique stores to Las Vegas include Chrome Hearts, which sells jewelry and home furnishings; Davante Optical; Kiehl's, a cosmetic and body care store; Luca Luca, women's clothing; and Penhaligon's London, a bath and body store.

Also added are five restaurants, including Sushi Roku and Joe's Seafood, Prime Steak & Stone Crab and French confectionery Vosges Haut-Chocolat.

Taryn Rose, a shoe store that specializes in stylish yet comfortable shoes, also opened today. This is the fourth Taryn Rose store in the country.

"I felt that Las Vegas is now a world destination and it was important for our brand to have a presence here to showcase all the different styles and variety of lifestyles we have for our brand," said Taryn Rose, president and chief executive. "The Forum Shops in particular is very beautiful and glamorous, which is fitting with the luxury level of our product."

Nambe opened its eighth freestanding store nationwide at the Forum Shops. Nambe is known for its metal gift items, made from an alloy that does not include any silver, lead or pewter.

"This is really a home of every world class brand, and we are in such a prestigious area with Harry Winston and Thomas Pink," said Bob Borden, vice president of design and creative director for Nambe, based in Santa Fe, N.M. "That affiliation and the proximity of our brand next to theirs is only a great thing for the Nambe brand."

The Sony Style store also is a first for Las Vegas, its 11th U.S. store. Mike Fasulo, president of E Solutions Co., part of Sony Electronics, said the company's strategy by opening a store at the Forum Shops was to not only show off the design and fashion sense of Sony products, but to reach the female segment of the market.

Fasulo expects the Las Vegas Sony Style store to be one of the company's most successful locations in the nation.

"We are expecting it to be one, if not our best shop in the nation," he said. "I'm very excited."

The Sony Style Las Vegas store will also display its exclusive Qualia product line. The only other Sony Style store that showcases the high-end technology products is the New York store, Fasulo said.

With the more than $100 million addition that now fronts Las Vegas Boulevard, the Forum Shops is expecting a 10 percent increase in traffic. The mall already attracts about 50,000 visitors a day. Before the expansion, the mall simply had a moving sidewalk on the Strip to the mall and little signage to identify it.

"It makes much more of a statement than in the past," Crampton said.

Of the people that visit the mall, 80 percent are tourists, of which 40 percent are international visitors, she said.

"The international buyer is really important for us because they spend three to five times more than domestic customers spend," Crampton said. "For us, that base is very strong."

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