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.
Let’s start with the countdown of our list of top 15 high end retail clothing stores in America:
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.