South Coast Plaza Celebrates 45th at the Hotel Bel-Air
For the 45th-anniversary fête of South Coast Plaza, owners and management of the luxury center in Costa Mesa, Calif., traveled 50 miles north to the Hotel Bel-Air, a historic boutique hotel in Los Angeles’ Bel-Air neighborhood, where Grace Kelly and Marilyn Monroe once partied. With a gala meal of Sonoma duck breast and loup de mer, the chiefs of South Coast Plaza explained the story of the center’s success and how it came to be a world-class retail destination.
Developed by the Segerstroms, a Costa Mesa farming family, South Coast Plaza opened in 1967 with 70 stores. But managing partner Henry Segerstrom, pictured standing at the party, soon realized he had to find a point of difference to compete with the bumper crop of new malls popping up in Orange County. He gambled on luxury. In 1975, French fashion designer Courrèges opened a boutique at South Coast Plaza, followed by Halston in 1976. Today, there are 250 retailers doing business at South Coast Plaza. The luxury center forecasts doing $1.5 billion in sales for 2012. With a list of tenants that includes Hermès, Prada, three Louis Vuitton boutiques, Tiffany & Co., Bloomingdale’s, Nordstrom, Saks Fifth Avenue, Macy’s, Forever 21 and a Sears, South Coast Plaza has something for every consumer at every price point. The center’s reach and reputation extend around the world. Busloads of tourists from Saudi Arabia, Brazil and China typically visit South Coast Plaza for the luxury offerings, said Anton Segerstrom, partner in South Coast Plaza. “We’ve grown from being a regional destination to a world-class destination,” he noted.—A.A.
