Global luxury brands Chanel, Moncler and Omega will open new boutiques in Westfield Sydney this year.
This forms part of an expansion of the centre’s luxury retail space, expected to lift by 6,000 square metres.
High-end apparel brand Canada Goose will also open up a store in the luxury space this year.
Westfield Sydney’s upgrade joins a $4 billion pipeline of future retail developments across Scentre Group's portfolio, which operates Westfield shopping centres across Australia.
Scentre Group CEO Elliott Rusanow said the company's focus in 2023 was to drive customer visitation and length-of-stay, which resulted in a net operating income lift of 8.8 per cent to $1.95 billion.
“Customer visitation to our 42 Westfield destinations for the year was 512 million, up 32 million or 6.7 per cent on 2022," Rusanow said. "This was underpinned by our activation program which included new strategic partnerships with leading brands Disney, Live Nation and Netball Australia.
“As a result, our business partners achieved $28.4 billion in sales, an increase of $1.7 billion or 6.4 percent compared to 2022 and representing a record across our Westfield platform.”
In 2023, the total retail spend in Westfield Sydney’s total trade area was estimated at $83.8 billion, while the total retail spend in the main trade area was estimated to be $34.0 billion.
Westfield Sydney’s Main Trade Area has a high retail spend per capita of $17,531 which is 14% above the wider Sydney Metro average ($15,426).
Fashion retailers make up 55% of the store portfolio, with footwear at 7% and jewellery at 9%. It is the largest proportion of fashion retailers than all other Westfield centres in Australia.