Despite gloomy economic news and viral social media videos of stores closing, there is proof that the luxury retail sector in the United States is thriving, and it's due to a wave of retail expansion. According to a recent report by the global real estate services company JLL, luxury brands are making significant strides, with more than half of new luxury stores opening their doors in the ever-iconic states of New York and California. Even more intriguing, nearly 40% of these new store leases were secured in high-end malls across the nation.
