More is more on the Las Vegas Strip. And as the dirt continually turns on new development, General Growth Properties Inc.’s Fashion Show retail center is positioning itself as the be all-end all when it comes to shopping.
The two million-square-foot shopping center counts eight anchors, ranging from Neiman Marcus and Saks Fifth Avenue to Dillard’s and Forever 21. It wrapped a major renovation project last year that elevated its entrance on the Las Vegas Strip with LED screens and more restaurants. That’s on top of 30 store openings last year that included St. John, Tory Burch and Dick’s Sporting Goods, among others.
“We pretty much have managed to be very deep in every category but one of the things that’s become such a movement in Las Vegas is dining and that was also something that allows our customer to enjoy their experience longer,” said Janet LaFevre, senior marketing manager for Fashion Show and GGP’s center across the street, Grand Canal Shoppes.
The additions and property improvements come as work next door began late last year on a luxury hotel and casino called Alon. North of that project, Genting Group is set to erect its $4 billion Chinese-themed Resorts World Las Vegas project that will bring about 3,000 rooms across three hotels, 30 restaurants and bars, a panda habitat and Strip-fronting retail.
That’s all coming online in a market where there’s existing retail competition from Simon Property Group’s Forum Shops at Caesars Palace and the Miracle Mile Shops at Planet Hollywood. Simon also operates its Premium Outlets in downtown Las Vegas.
Those options for visitors bring new meaning to the word competition.
“There’s no doubt that Las Vegas is a hyper competitive market and that is driven by 42 million visitors coming here every year,” LaFevre said. “Our competitive advantage at Fashion Show is a couple different things.”
She pointed to the mall’s location on the Strip but also its connectivity to the Sands Expo and Venetian, where it can capitalize on convention and hotel visitors.
To keep people at Fashion Show longer, GGP brought in better quality fast-casual operators such as Luke’s Lobster, Pressed Juicery and Wicked Pizza, LaFevre said. Other newcomers in the restaurant space included Kona Grill and Sugar Factory.
The center added 22,000 square feet and an outdoor plaza that sits on the Strip. Part of the addition was in response to the ballooning of Zara, which tripled in size to 30,000 square feet across two levels for an outpost that has prime real estate on Las Vegas Boulevard.
Stores for Tadashi Shoji and Ugg are now in the works.
Fashion Show’s occupancy level currently sits at 99.5 percent. Its sister property on the strip, Grand Canal, is at 97 percent although it has a much more curated mix of specialty tenants.
While the general theme within retail more recently has been on curated and artisan experiences, offering more of a little bit of everything will continue to be a key strategy for Fashion Show.
“It certainly helps because we are in that very enviable position because we have something for everyone,” LaFevre said. “Guests are coming to Las Vegas. They don’t have unlimited time to go shopping … they want to do more and more. Shopping and entertainment has surpassed gaming.”