More luxury brand names are coming to Towson Town Center, including one of the most iconic high-end shops � Tiffany & Co. Known for its trademarked turquoise boxes, the jeweler will open the 3,500-square-foot store Sept. 3.
"It's a wonderful magnet tenant that we hope will attract other tenants and many more shoppers," says Towson Town Center General Manager Chuck Crerand. It will be Tiffany's second Maryland store. The other is located in Chevy Chase.
Michael Kors and True Religion Jeans will join Tiffany in Towson Town Center's luxury wing in September.
The 1,700-square-foot store will be sportswear apparel firm Michael Kors' first standalone Maryland shop. It is also True Religion's first foray into Maryland, with its 1,500-square-foot store. The closest True Religion standalone store is in Washington, D.C.'s tony Georgetown neighborhood. The Los Angeles-based designer jean company 's denim can set you back about $200.
Though retailers have curtailed their expansions during the last couple of years due to the recession, Crerand is now seeing more interest in new store openings.
"I think it's starting to come back," Crerand says. "I think more retailers are interested in expanding again."
The mall expanded nearly two years ago, with an additional 110,000 square feet. The expansion included a luxury wing whose shops include Burberry, Louis Vuitton, Lacoste, Bose and Lush. After analyzing the area's demographics, mall management decided that the area could support high-end stores.
The average household income within a three-mile radius of Towson is $93,000, according to the Baltimore County Department of Economic Development. The area contains nearly 93,000 residents, about half of whom hold a college degree.
"It's exciting cachet for that mall," says David S. Iannucci, executive director of the Baltimore County Office of Economic Development, of the Tiffany store.
"The Greater Towson area has a strong buying public that would make national retailers identify the site for stores," Iannucci says. Towson residents have a "great appreciation for the finer things in life."
Tiffany's new store is one of 16 stores the company is opening this year. The company pulled in $2.7 billion in sales in its most recent fiscal year.
Source: Chuck Crerand, Towson Town Center
Writer: Julekha Dash