Cape Town – Cape Town’s V&A Waterfront is expanding its luxury retail space by tripling it to 4,000 square metres in a new dedicated wing.
According to BusinessTech, the R207 million development will bring high-end brands like Dolce & Gabbana, Louis Vuitton, and Gucci under one roof while introducing new names such as Versace.
The expansion reflects rising demand for luxury goods, driven by international tourists and wealthy families relocating to Cape Town, the report said.
The V&A recorded peak retail sales of R1.4 billion in December, with luxury items accounting for 7% of total sales in 2024.
Cape Town’s V&A Waterfront is expanding its luxury retail space to nearly 4,000 square meters, attracting brands like Dolce & Gabbana, Louis Vuitton, and Gucci to anchor a new development. pic.twitter.com/6tmRAPjNMB
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The project will open in phases from November to Easter, positioning the V&A as a key player in Africa’s luxury market.
Additionally, the Waterfront’s owners are planning a R20 billion expansion of the adjacent Granger Bay precinct.
A report by The South Africa said that the repurposed Union Castle Building at the V&A Waterfront has boosted sales by attracting high-profile tenants like Marble Restaurant, Nike, Thule, and Wedgewood.
Enhancements to the tenant mix, including larger Yuppiechef and Mr Price stores and new brands like Amiri, North Face, Karl Lagerfeld, and Deus ex Machina, contributed to nearly double-digit sales growth, the report said.
It added that in 2024, spending in the precinct surpassed R10 billion.
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