Royalmount, a development under construction in Montreal’s Midtown district, has leased flagship spaces to luxury brands including Louis Vuitton and Gucci, developer Carbonleo said.
Tiffany, RH, Sandro and Maje are also among the brands set to open stores in the mixed-use shopping and entertainment district in the Francophone hub.
Most luxury brands operating in Montreal continue to sell through shop-in-shops in the city’s department stores. While sales in North America have driven growth for the luxury industry since the pandemic, many key pockets of wealth are still seen as underserved by European brands. Montrealers continue to make most luxury purchases elsewhere.
“Brands have been desirous of a flagship presence here but haven’t yet had an opportunity to create one,” Carbonleo’s CEO Andrew Lutfy said. Louis Vuitton and Gucci’s spaces will both be around 9,000 square feet.
Carbonleo’s Royalmount project has drawn investment from L Catterton, the LVMH-backed private equity firm whose real estate arm also developed the Miami Design District.
Royalmount, which includes restaurants, condos and even a stadium in addition to its retail spaces, has sparked local controversy due to its scale, in particular raising concerns that it would worsen traffic on two already-crowded nearby highways.
After scaling back plans for the development’s retail and residential spaces in favour of more green space, Royalmount is on track to open in spring 2024, the company said.
