Luxury Wealth Spreads Across U.S. Cities
A Savills report says personal wealth in the United States is expanding into new markets beyond traditional luxury hubs.
Updated on Nov. 3, 2026 in Accessories
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Savills released its report 'America's Expanding Luxury Map,' finding that personal wealth is spreading across the country. Hermès opened stores in Short Hills, N.J., and Wilmette, Ill., as luxury brands follow affluent consumers into emerging markets.
Why it matters
The shift reflects where new wealth is being created, including through technology, finance, energy, health care and entrepreneurial businesses. For U.S. shoppers and residents, it signals more luxury retail options appearing in suburban and fast-growing metro areas.
Savills reports North America captured 27 percent of 2025 luxury store openings, with New York's luxury openings rising 23 percent year-on-year. The new 10,000-square-foot Conservatory store on Knox Street in Dallas is among the newest entries, though the report does not address whether these openings will sustain long-term demand.
The players
Savills
Savills is a global real estate services firm that publishes market research on property and luxury retail trends.
Hermès
Hermès is a French luxury goods house known for its handbags, scarves and leather accessories, and it uses location data to choose new store sites.
The details
Hermès uses customer, demographic and location data to identify areas with growing concentrations of wealth. Scottsdale Fashion Square added Arizona-first boutiques from Loro Piana, Hermès and Montblanc, while Dallas's Knox Street has attracted brands including Toteme, Staud, Dôen and Cult Gaia.
Timeline
• Savills began tracking luxury store opening activity in 2016.
• North America led luxury store openings in 2025 with a 27 percent share.
• Savills published its 'America's Expanding Luxury Map' report on November 3, 2026.
Market Landscape
Luxury brands are chasing wealth that Savills has tracked since 2016 as it moves from coastal hubs into inland metros like Scottsdale and Dallas. This positions luxury houses such as Hermès ahead of rivals who have yet to follow new American wealth into suburban retail corridors.
Shoppers in suburban and fast-growing metros may find premium accessory boutiques opening closer to home rather than requiring trips to major city centers. The report does not indicate how pricing or product availability will differ at these new locations.
The takeaway
Affluent U.S. consumers are increasingly found outside traditional luxury capitals, so brand presence is following them into new metros. Shoppers who track store openings in their region may find access to premium accessories improving over time.
Further reading
Explore more Accessories coverage to see how luxury brands are reaching new American shoppers.
Source note: This article includes information reported by WWD.
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