Last week I wrote a short story about some new stores coming to SouthPark - but what's just as telling is the flip side of that equation: The merchants they're replacing. Yes, stores turn over all the time, even during a boom, but just about all malls have been wrestling with increased vacancy in the recession. Luxury-oriented centers like SouthPark aren't exempt, and it looks to me like the downturn is bringing a somewhat wider economic mix of stores into a mall known for its concentration of high-end tenants.
The last time I was at the mall - about a week ago - the former Bob Ellis Shoes space near Nordstrom was filled by a artisan crafts-type store that looked like it might be a temporary occupant. Bath and body products purveyor Crabtree & Evelyn, which closed stores in the wake of a bankruptcy filing, will be replaced by a Yoforia frozen yogurt location. The former Cache Luxe, next to Aveda, will soon become home to Charlotte's first True Religion jeans store - granted, not exactly a bargain-basement outlet, what with jeans selling for $200 and more. (Cache, which still operates its namesake store at SouthPark, is thinning its roster of the Luxe stores nationwide, not just here.)
The closing of Carlyle & Co. jewelers, a Greensboro-based chain that went out of business entirely, and upscale women's boutique Intermix have also left vacancies at SouthPark recently; it's as yet unclear what will fill them. Intermix was an interesting case - a high-end, fashion-forward store that's well-established in other cities, it came to Charlotte in the spring of 2008, not long before - well, you know what happened in the economy.
Does it mean that SouthPark's luxury luster has dulled? I don't think so. But it does speak to the ways that the recession has dampened high-end spending and hit mall-reliant retailers across the country and locally, leaving newer, smaller high-end markets on the bubble.