News Briefs

Simon, which had owned a 25% non-managing interest in Miami’s Brickell City Centre now has full control of the property after a acquiring the rest in a half-billion-dollar deal with Swire, developer of the Brickell District.

Swire opened the center in 2016 after having acquired a large portion of Miami’s Brickell financial district and filled it with luxury apartments, hotels, and restaurants. At the time, the international developer signed a 99-year lease for control of the local Metrorail Station.

The 500,000-sq.-ft. Brickell City Centre is technically classified as an open-air center, though it is topped by the Climate Ribbon, a ribboned canopy that creates shade and airflow and collects rainwater that helps cool the center. 

It is anchored by a Saks Fifth Avenue, with a Casa Tua Cucina location. Its more than 90 stores include Apple, Chanel Fragrance & Beauty Boutique, Coach, Kirk Jewelers, Lululemon, Sephora, Zara, Richard Mille, Sandro and Nike.

Its dining and entertainment locations include Motek, Tacology, The Henry, PuttShack, and a luxury VIP Cinema Experience from CMX.

Starbucks Corp.’s rival in China has dropped anchor in the United States.

China’s fast-growing Luckin Coffee chain made its U.S. debut on June 30, with the opening of two stores in New York City. The stores are located in Manhattan’s Greenwich Village and NoMad neighborhood, according to the company’s post on Instagram.

Luckin’s explosive growth and popularity in China have challenged Starbucks. China is Starbucks’ second largest market behind the U.S., but its growth has stalled amid increased competition from Luckin, which opened 6,071 stores in its home country is fiscal 2024. It currently operates more than 20,000 stores across China, while Starbucks has approximate 7,600 locations there.

Unlike Starbucks, Luckin stores do not have a coffeehouse or "third-place" vibe. Targeting young customers, the locations are small and mostly lacking in amenities, with most only providing pick-up and online delivery services through its app. The company says it has more than 120 million registered app users.

On its website, Luckin says it is focused on technology, and offers customers “a 100% cashier-less environment.”  

“This enhances our customer experience, improves our operating efficiency, and allows us to stay connected with our customers and engage with them anytime, anywhere,” the company states.

Luckin Coffee was founded in 2017 in Beijing. As of March 31, the company operated 24,097 stores. In addition to China, the company has stores in Singapore, Malaysia and Hong Kong. 

A grocery-anchored lifestyle center in one of Michigan’s largest cities is changing hands.

Mixed-use developer WS Development and asset management firm Barings have announced the acquisition of Breton Village, a 200,000-sq.-ft. open-air lifestyle destination located in Grand Rapids. 

Since 2002, Breton Village has served the community under the ownership and operation of a group of local investors, currently operating as Breton Village, LLC. Between 2017 and 2019, the company led a major redevelopment to transition the property from a traditional enclosed mall into an open-air, lifestyle-focused destination. 

Breton Village’s tenants include first-to-market specialty retailers like Lululemon, Anthropologie, West Elm, Design Within Reach, Warby Parker, Evereve, Orvis, Free People, and Madewell. The center is anchored by D&W Fresh Market.

“Breton Village is an established property with incredible potential for growth,” said Jeremy Sclar, chairman and CEO of WS Development. “With its strong tenant mix and deep community ties, it’s an honor for WS to join the Grand Rapids community and we look forward to enhancing the beloved community destination for many generations to come.”

The acquisition of Breton Village marks WS Development’s fifth project in the Midwest, and is part of the company’s strategy to “curate exceptional retail and lifestyle destinations that resonate with their communities.”

“We are pleased to acquire this well-located center alongside WS,” said Payton Larson Smith, senior director at Barings. “We continue to see long-term trends supporting lifestyle centers and are excited to add Breton Village to our growing retail portfolio.”

[READ MORE: Poag invests $1.3 million in western Michigan center]

WS Development is one of the largest privately-held development firms in the country with more than 100 properties in its portfolio.

The CEO of Holt Renfrew is leaving the company.

Sebastian Picardo plans to step down as president and CEO of the luxury department store retailer, effective Sept. 30, 2025. He has served in the role since 2020.  

“An active global search is underway for our new president and CEO with final candidates being reviewed,” the Toronto-based company said in a statement.

The retailer also said that Picardo decided to return to Europe “to be closer to family and pursue other opportunities.” 

Prior to joining Holt Renfrew, Picardo served as deputy president and COO of Lane Crawford, the prestigious luxury department store based in Hong Kong.  He also held leadership roles at Burberry, Net-a-Porter, Alexander McQueen and Deloitte.

Holt Renfrew is regarded as Canada’s leading luxury retailer. It operates six locations in the country, including its flagship store on Bloor Street West in Toronto.

Picardo is credited with creating a comprehensive strategy and mission statement at Holt Rnfrew to attract more consumers and brand partners, while maintaining the company’s luxury aura and reinforcing its social values, reported WWD. In a letter to his employees last week, Picardo highlighted several of his accomplishments, citing an increase in profitability of merchandise owned by Holt Renfrew, more customers choosing to shop Holt’s, and a revitalization of its online offering and experience, the WWD report said.

Founded in Quebec City in 1837, Holt Renfrew was acquired by the Weston family 1986, whose Wittington Investments, also controls Loblaw in Canada and Associated British Foods in the United Kingdom.

Miss A is expanding its retail footprint. 

Known for its extremely low prices, the Dallas-based beauty retailer has set a goal to reach 100 stores by the first quarter of 2026. Miss A currently operates about 65 locations nationwide, with recent openings in Atlanta, Indianapolis and Chicago, and expects to end 2025 with over 90 stores. (Miss A stores typically range from 3,500 to 4,000 sq. ft. and are located in regional malls and outlet centers.)

The brand said it has built a loyal following by offering over 15,000 beauty and lifestyle products — most priced under $2 — and refreshing its inventory every few weeks to keep customers engaged. Products include makeup, skincare, hair, beauty tools and accessories, along with select lifestyle items.

"Our mission has always been to deliver high-quality beauty at truly accessible prices," said Kenneth Baik, founder and CEO of Baik Brands, parent company of Miss A. "As demand continues to grow, we're doubling down on physical retail to bring the Miss A experience to more communities across the country."

Miss A, which projects $100-plus million in revenue this year, expects to reach $750 million in annual sales during the next five years through continued retail expansion and growth of its wholesale arm, Hous Inc. The company's in-house brands — including AOA Studio, AOA PRO, AOA Skin and A2O Lab — remain key drivers of both customer engagement and profitability.

In addition to Miss A, Baik Brands Inc. also operates Hous Inc., which began its B2B distribution in 2024 and whose products are available in over 25,000 retail doors through major partners including Dollar General, Walmart, PopShelf and Amazon.  

Belk Inc. is partnering with a digital identity solution provider to provide "everyday heroes" with additional digital savings opportunities.

The regional Southeast department store retailer is offering verified teachers, medical professionals, first responders, military members and veterans (including their spouses and dependents) an extra 10% off their purchases online at Belk.com. More targeted discounts will be available during select holidays and seasonal events

To qualify for the discount, customers must verify their status through the ID.me platform by visiting the customer service page of the Belk e-commerce site. Once verified, customers can add items to their cart and select the ID.me button to automatically apply the discount.

The discount applies to a wide assortment of products and is stackable with most other eligible promotions. Exclusions may apply to select premium brands, limited-time offers and clearance items.

"These groups do so much for our communities, and we want to show our appreciation in a meaningful way," said Richard Spencer, chief digital technology officer at Belk. "We're proud to partner with ID.me to make it easy for these everyday heroes to receive special savings — just in time for the Fourth of July."

[READ MORE: Belk reduces debt by nearly $1 billion; has new owners]

Charlotte-based Belk Inc., a privately-owned department store, opened its first store in 1888 and operates nearly 300 Belk and Belk Outlet locations across 16 Southeastern states and digitally through its e-commerce site and mobile app.