LVMH, Richemont, Kering and other luxury conglomerates and brands grew their US retail footprints by 650,000 square feet in the past year, as luxury sales in the market increased 9% from the previous year to $70 billion, according to a report from JLL. Luxury brands are favoring coastal cities, with 55% of store openings in New York and California, and malls want luxury brands to further their reinvention as premium retail properties. Forbes