Global fashion brand Lacoste has secured a 190 square metre flagship store at Melbourne Walk in the Bourke Street Mall precinct.
The space amalgamates two tenanted spaces fronting Little Collins Street, and marks the first major move since the brand’s license was taken on by footwear and sporting conglomerate Accent Group.
Lacoste’s new store will open its doors ahead of Christmas.
Colliers, which manages the leasing of retail spaces at Steadfast Capital's Melbourne Walk, added that Lacoste’s move underscores a resurgence of Melbourne CBD's retail market and a growing appetite for experiential retail formats. The Bourke Street Mall has also fielded other high-profile openings, including Mecca’s multi-level emporium and JD Sports’ largest Southern Hemisphere flagship.
The tenancy will face Bourke Street and open directly onto St Collins Lane, now known as 260 Collins.
“Retailers are doubling down on flagship concepts that deliver more than just product,” Colliers senior executive of retail leasing, Ruby Koop, said. “These stores are immersive brand experiences designed to draw customers back in-store and compete with online.
“Melbourne Walk’s design and connectivity make it the perfect stage for global brands like Lacoste.”
According to Colliers’ latest CBD Retail Insights Report, Melbourne’s foot traffic is now 22 per cent below pre-pandemic levels, and retail turnover is sitting 21 per cent above 2019 benchmarks.
Alongside Lacoste, Accent Group has also taken on the local Dickies license and has just commenced its Sports Direct rollout in Australia, with a store opening in Melbourne. Sports Direct is a global sporting retailer, owned and managed by Frasers Group in the United Kingdom.