Luxury retail in the United States is expanding beyond established destinations as affluent consumers emerge in new markets, according to a report by real estate company Savills. Its study, “America’s Expanding Luxury Map,” says brands increasingly need to identify where new groups of wealthy shoppers are developing.

Hermès is among the brands using customer, demographic and location data to track concentrations of wealth. Its stores in Short Hills, New Jersey, and Wilmette, Illinois, reflect a wider shift toward bringing luxury shopping closer to affluent communities instead of relying only on major gateway cities.

Savills says new wealth is being generated locally through industries including technology, finance, energy and health care, as well as entrepreneurial businesses. Investment in luxury housing, hospitality and lifestyle amenities is also helping make more U.S. markets attractive to high-end retailers.

Scottsdale is highlighted as a notable example. The city is adding millionaires faster than almost any other city globally, the report says, while Scottsdale Fashion Square has welcomed Arizona’s first boutiques from Loro Piana, Hermès and Montblanc.

In Dallas, Knox Street, north of downtown, has become a focus for luxury retail. Brands including Toteme, Staud, Dôen and Cult Gaia have opened there, alongside Conservatory, a 10,000-square-foot multibrand concept store. The neighborhood also includes The Knox, an Auberge Collection hotel and residential development.

The shift does not mean traditional luxury centers are losing ground. New York, Miami and Los Angeles remain important markets. New York, with an estimated 384,500 millionaires, again topped Savills’ Next-Generation Wealth Hubs Index. Miami, San Francisco and Los Angeles also ranked among the index’s top five cities globally.

North America accounted for 27 percent of luxury store openings in 2025, the largest regional share and the first time it led the rankings since Savills began tracking openings in 2016. New York also returned to the top spot as the city with the most new luxury store openings, with activity up 23 percent year over year.

Sources: WWD.