Victoria’s Secret has opened a new flagship store on Miami Beach’s Lincoln Road.
Victoria’s Secret opens new flagship in Miami. – Victoria’s Secret
The move comes after Victoria’s Secret relocated from a nearby site and signed a 12-year lease with Alto Real Estate Funds, the property’s owner. Alto acquired the asset four years ago, during the height of the pandemic.
The flagship follows six months of extensive preparations and offers the brand an elevated presence on Lincoln Road, a corridor that has been attracting renewed investment and global retail interest.
“Alto invests strategically in properties that elevate our portfolio, and Lincoln Road exemplifies such an asset,” said Yaniv Melamud, co-founder and CEO of Alto Real Estate Funds.
“This long-term lease with Victoria’s Secret reinforces the value of this prime location and strengthens our presence on one of the most prestigious retail streets in the United States.”
The flagship debut comes as Lincoln Road undergoes a broader resurgence, supported by more than $3 billion in luxury residential and hospitality investment, including projects such as The Shore Club Private Collection, The Raleigh Hotel restoration, and the Five Park tower.
In June, Victoria’s Secret & Co. reported better-than-expected sales in the first quarter. The Ohio-based company said sales for the three months ending May 3 totalled $1.353 billion, besting its previously communicated guidance range of $1.30 billion to $1.33 billion.
