Miami is the Next Big Thing For Fashion Entrepreneurs and Accepting Bitcoins!
Photo credit: Louis Vuitton
With the rise of Art Basel-Miami, Miami Design District, Wynwood, Miami Fashion Week and Apparel Textile Sourcing trade shows and with the choice of many leading brands such as #Dior, #LouisVuitton, #Gucci to showcase their new collections at #Miami instead of Paris, Miami has been the hot spot for the fashion industry.
Throughout Miami Fashion Week, Miami attracts more than 202M people all around the world and gaining $6M total media value. Generating $1.43 Billion each year in economic impact, Miami is the
12th most important city in the world for the ultra-wealthy. From Art Basel to Fashion Weeks, the Florida city is drawing the attention of mega-brands.
And now Miami Mayor Francis Suarez is calling tech players from Silicon Valley and New York. Some companies and Suarez have already partnered to offer a 20% discount to tech founders, investors and employees who moved to Miami in early 2021.
According to Crunchbase data,Venture-backed companies based in the city of Miami raised $972 million across 57 deals in 2020. The greater Miami area saw nearly $2 billion in funding for companies based in the area in 2020.
Suarez is also considering the investment of some of the government funds in the world’s largest cryptocurrency, Bitcoin. The mayor of Miami said that employees in this city will soon be able to choose to receive their salaries in #Bitcoin instead of dollars.
Imagine you build up your fashion brand in Miami with the collaboration of tech companies and earn bitcoins!
Photo Credits: Dior, Miami Herald, Miami Design District, Crunchbase, Mayor Suarez
Statistics & Strategy From The Heart of Luxury: Miami Design District
Craig Robins, CEO of Dacra Development, the co-founder and co-owner of @designmiami, developed Miami Design District as an exclusive shopping destination and cultural hub. Dacra Development secured a 10-year, $500 million refinancing from Bank of America for a 15-building, 497,000-square-foot portion of the Miami Design District known as Oak Plaza. @miamidesigndistrict achieved to be one of the most hip and valuable place for the fashion industry in spite of coronavirus pandemic.
According to RealDeal statistics, in 2019, the properties generated more than $231 million in sales among tenants reporting sales. Despite the coronavirus, as of September, the Oak Plaza properties were 88.5 percent occupied by 86 tenants. Top tenants in the portfolio by total rent paid;
- @hermes is the top tenant in the portfolio with $1.5M rent by paying $113 per square foot for a 13,500-square-foot building on Northeast 39th Street, in the heart of the district.
- @harrywinston pays $1.5M rent by $209 per square foot for 7,200 square feet in the Palm Court building across the street from Hermès.
- @hollyhuntdesign underwritten rent is $1.3M
- @fendi Casa/Luxury Living’s underwritten rent is $1.2M, paying about $50 per square foot for more than 20,000 square feet in showroom space.
- @tomford’s underwritten rent is $1.2M
- Also, thirteen of the tenants, including Christian #Dior (11,000 square feet), #Fendi, Louis Vuitton (10,000 square feet), and Tiffany & Co. (5,000 square feet), are considered affiliates of the landlord because their parent company, French conglomerate #LVMH Moët Hennessy Louis Vuitton has a 38.75 percent stake in the partnership with the owners of #MiamiDesignDistrict.Photo and content Credits: RealDeal, Miami Design District, Louis Vuitton, Harry Winston, Fendi, Kevin Sun Trepp, Datawrapper
Next Stop Miami To Grow Your Business
In our Miami office, we help fashion and cosmetic brands to develop their businesses internationally and meet new customers. We organise B2B meetings with buyers from leading global brands as well as niche showrooms.
We develop marketing projects to discover potential customers and we participate important trade events such as Miami Design Week, Miami Fashion Week, Apparel Textile Sourcing Miami for introducing the brands in our portfolio with the world.
Let us help your brand and widen your horizons. Let’s meet in Miami!
Feel The Vibe in Miami
Every year in December, art, design, and fashion launchings are made to coincide with Art Basel week in Miami to maximise the momentum and the interaction between markets. Undoubtedly, Miami Design District is one of the places that give meaning to the whole art week. Let’s feel it togehter!
Video credit: Miami Design District