Which are the top 15 high end retail clothing stores in America?
The global fashion apparel industry represents roughly 2% of global GDP, having a total value of over $1 trillion. The U.S. apparel industry has the largest chunk of the global fashion clothing market, valued at $343 billion. Moody’s recently said in a report that consumer spending on apparel and footwear will be cold in 2017, as consumers now prefer to spend more on rent, healthcare and household products instead of luxury items like clothing. Nonetheless, the overall retail sector will experience stable growth, with operating income growth expected to be between 4% and 5%, and sales growth in the range of 3% to 4%. However, experts think that high-end customers won’t be affected by the rising prices of gas, food and basic household products, and should continue to lavishly spend money on luxury clothing and accessories.
The U.S remains the leader in the retail sector, with 76 of the largest retailers in the world having a presence there, according to a Global Powers of Retailing report in 2015. There are several high-end, expensive and luxurious clothing stores in the U.S that are famous world-wide, and consumers spend a fortune buying apparel, footwear and accessories from these chains. We’ll take a look at the top 15 of those outlets in this article, which include Ralph Lauren Corp (NYSE:RL) and Michael Kors Holdings Ltd (NYSE:KORS).
– Don’t Miss: Most Expensive Department Stores in the World.
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Let’s start with the countdown of our list of top 15 high end retail clothing stores in America:
15. Escada
Escada is a Germany-based clothing company which designs women’s clothing and accessories. The company also produces on-demand orders and allow its customers to specify any design and details of their own choice for clothing. The company was founded in 1975, and is famous for designs based on unusual combinations of colors and patterns, exclusive embroidery and knitted products.
14. Giorgio Armani
Giorgio Armani Corporation is the U.S arm of the famous Italian apparel and fashion brand Armani, which was founded in 1975 by Italian designer Giorgio Armani. In 2001, Mr. Armani was acclaimed as the most successful designer to ever come out of Italy. The Armani clothing brand is also on the Forbes list of the most powerful brands. The company designs and retails leather apparel, accessories, watches, jewelry, eye-wear, and home interiors.
13. Oscar De La Renta
Oscar De La Renta, LLC has one of the most expensive retail clothing stores in the U.S, where the least expensive dress comes at a “bargain” price of $890, while one of Oscar De La Renta’s high-end dresses has a hefty price tag of $12,690. Oscar De La Renta was founded by legendary fashion designer, Oscar de la Renta, who passed away in 2014. Oscar was known as the ‘Sultan of Suave’ for his elegant designs and renowned products. Oscar De La Renta’s target market is celebrities, the fashion industry, and elites. Oscar de la Renta’s Madison Avenue store in New York is often cited as the most expensive clothing store in America, where the average spending per customer can come in as much as $3,217 per visit.
12. Loro Piana
Loro Piana is an Italian clothing company which also has high-end retail stores in the U.S. The company makes luxury cashmere and wool products. Loro Piana knits most of its expensive clothing products with vicuña, a very rare, soft, and expensive type of yarn. A single scarf from Loro Piana could cost you about $4,000. Loro Piana is a part of LVMH Moët Hennessy Louis Vuitton SE, or LVMH, since 2013.
11. Louis Vuitton
Louis Vuitton is a French fashion brand founded in 1854 by Louis Vuitton. The company makes ready-to-wear leather products and shoes, jewelry, glasses, and accessories. Louis Vuitton was named the world’s most valuable luxury brand from 2006 to 2012 and is currently one of the most valuable brands in the world, with a total worth standing at $27.3 billion. Among the endorsers of Louis Vuitton are Angelina Jolie, Bono, Michael Phelps, Will Smith’s son Jaden, and video game character Lightning from Final Fantasy 13. Last year, the company launched an iteration of its City Steamer bag, which costs $55,500.
10. Akris
Up next on our list of top 15 high end retail clothing stores in America is Akris, which is a Swiss fashion company which specializes in luxury goods for women. Akris was founded in 1922 by Alice Kriemler-Schoch in St. Gallen, Switzerland. Most of the mainstream and expensive products made by Akris are designed by its creative director of deigning, Albert Kriemler. The company has 18 own-brand boutiques and its products are sold in over 300 retail outlets. Its New York City store is regarded as one of the top high-end clothing stores in the U.S.
9. Ralph Lauren
Ralph Lauren Corp (NYSE:RL) is a New York-based company having a multibillion-dollar enterprise in clothing, fashion and accessories. The company was founded by American fashion designer Ralph Lauren in 1939. As of 2016, Ralph Lauren operates 493 stores. Ralph Lauren’s Polo shirts, underwear, accessories, watches, perfumes and jewelry items are in high demand in the U.S and around the world.
8. Chanel
Chanel is a French fashion and high-end perfumery and clothing company, founded in 1909. Chanel’s famous 11.12 bag costs around $4,500. The company has stores in the U.S, Europe and Asia. According to Forbes, Chanel is the most desirable brand among high-end Chinese consumers.
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7. Michael Kors
Michael Kors Holdings Ltd (NYSE:KORS) is an American luxury clothing and fashion products company founded in 1981 by famous sportswear fashion designer Michael Kors. The company makes clothes, accessories, watches, jewelry, footwear and fragrances. Its top hand bags can cost up to $3,000. In its fiscal year 2016, Michael Kors Holdings Ltd (NYSE:KORS)’s revenue totaled $4.71 billion, which is one of the reasons why it takes the 7th place on this list of top 15 high end retail clothing stores in America.
6. Maxfield, West Hollywood
Up next on our list of top 15 high end retail clothing stores in America is this retail store which has high-end luxury clothing products from famous names including Chanel, Balmain, Rick Owens, Yves Saint Laurent, and Celine. Maxfield was named the fifth-most expensive store in the US by Bundle.com, based on proprietary data from 20 million Visa and MasterCard holders.
5. Blake, Chicago
This clothing retail store is renowned among high-end customers for its creative new designs and funky vibe. The shop contains products from famous brands like Roland Mouret, Mary Katranzou and Thomas Wylde.
4. Brunello Cucinelli, New York City
Brunello Cucinelli is an Italian luxury fashion brand which makes clothes for women and men, accessories and fashion products. A normal cashmere sweater from Brunello Cucinelli’s New York City store costs about $950 before tax. In 2015, the company earned revenue of €414.2 million.
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3. Savannah
Savannah’s store in Santa Monica is one of the most luxurious clothing stores in the U.S, according to Bundle.com, which based its research on the shopping receipts from high-end stores in the country. Savannah sells fashion apparel, shoes & handbags from high-end designers including Robert Clergerie, Maison Margiela, Faliero Sarti, and Allude.
2. Alexander McQueen, New York
This store is named after famous fashion designer Alexander McQueen, who died in 2010. Mr. McQueen was chosen as the British Designer of the Year four times, in 1996, 1997, 2001, and 2003. The Council of Fashion Designers of America gave him the award of International Designer of the Year in 2003. A single visit to this New York store costs visitors about $1,847 on average.
1. Tom Ford, New York City
This high-end clothing retail store that ranks first in our list of top 15 high end retail clothing stores in America, belongs to famous American fashion designer, film director, screenwriter and producer Tom Ford, who founded his own brand in 2006 under the same name. Mr. Ford is known for his reinvention of the brand Gucci, which led to skyrocketing sales and business growth. In a recent interview, Ford said that he would refuse to dress soon-to-be first lady Melania Trump in his dresses because they are “too expensive” for her (which seems doubtful). Ford’s gowns start from $5,000 apiece.
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That being said these were the top 15 high end retail clothing stores in America.
Disclosure: None
