Chanel bought Williams-Sonoma's four-story Union Square flagship for $63 million in 2022 and is now renovating it with a skylight atrium and VIP floor to compete with Hermès. The closure, delayed through lease extensions, happens as early as January. Ultra-luxury brands like Rolex and Patek Philippe are also expanding in Union Square.
Union Square is about to change in a major way. Williams-Sonoma is leaving its 4-story flagship in Union Square as early as the end of January. Luxury brand Chanel purchased the building in 2022 for $63 million, so it was only a matter of time before a transition happened there. The store was initially supposed to close in 2024, and then lease extensions pushed that into 2025, then into 2026, and now it looks like it's actually happening. But no firm opening date has been announced because they're gonna be doing some renovations to the building. Their plans call for a new skylight atrium as well as a VIP area on the 3rd floor. Sounds like they're trying take on the Hermès flagship nearby head-on. This is yet another example of ultra-high-end retail doubling down on Union Square. Brunello Cucinelli, Goyard, Rolex, Patek Philippe, Shreve— all of them have expanded or renovated their spaces. Really looking forward to seeing the new store when it's completed. Let me know what you think in the comments and follow me for more San Francisco real estate.
