Driving the news: French luxury retailer Goyard is expanding its presence in San Francisco’s Union Square, taking over the former Montblanc store adjacent to its existing location on Grant Avenue. The move reflects a surge in optimism tied to the city’s recent political shift.
Details: Goyard’s expansion combines two storefronts into 2,500 square feet at Grant Avenue and Maiden Lane. Broker Kazuko Morgan credits increased retail interest to the recent election of moderate city leaders.
Other luxury brands, including Chanel and Burberry, are also renewing or expanding their Union Square footprints.
Why it matters: San Francisco’s Union Square, a historic shopping hub, has faced challenges with store closures and declining foot traffic in recent years. The election of Mayor Daniel Lurie and supervisors focused on economic development and public safety is injecting renewed confidence into the area. This optimism is driving retail investments and signaling a potential turnaround for the district.
The big picture: Union Square’s revitalization aligns with broader efforts to rejuvenate downtown San Francisco as a premier destination for shoppers and tourists. As luxury brands like Chanel, Rolex, and Goyard deepen their roots, they’re bringing a much-needed boost to the local economy.
What’s next: Expect more announcements of lease renewals and new entrants to the Union Square market as political and economic stability fuel investor confidence.
