South Coast Plaza turns 50 next month—yeah, we couldn’t tell, either.
The upscale shopping center in Costa Mesa, whose 250 stores and some 30 restaurants generate more than $1.7 billion in annual sales, is hosting a yearlong celebration that kicks off on March 15 with a party for American Ballet Theatre’s “Whipped Cream” cast. The two-act ballet, choreographed by Alexei Ratmansky, will premiere on the same night across the street at the Segerstrom Center for the Arts. The festivities will continue with partnerships with arts organizations and several “major runway shows,” including a fall fashion event South Coast Plaza plans to host with Harper’s Bazaar magazine.
“After 50 years of innovation, South Coast Plaza has become a heritage brand known worldwide,” Anton Segerstrom, partner at South Coast Plaza and son of late founder Henry Segerstrom, said in an email to the Business Journal.
“This is the time for our family to pause and envision the future. With all the challenges in retail today, we will stay true to our tradition of curating a unique collection of international fashion and luxury boutiques, focusing on unparalleled customer service, and creating destination appeal. South Coast Plaza will continue to evolve and remain relevant in our rapidly-changing world.”
Several of the shopping center’s luxury tenants will mark the milestone with limited-run merchandise, including nine black cherry calfskin trunk bags by Marni, five “shearling leather” clutches by Brunello Cucinelli, and another five “Kiss Me” clutches by Charlotte Olympia. TOD’s special editions of the Gommini shoe and Double T Bag were made exclusively for South Coast Plaza using “Tejus skin to make the shoe more precious, [in] shades of color which was inspired by the beautiful beaches of California,” according to the design house. Gucci, meanwhile, created “25 Sylvie Top Handle” bags in a red jacquard fabric for the golden anniversary.
Assouline Publishing, which specializes in coffee table photography books and has a store at the shopping center, will unveil a “collectible retrospective” featuring “never-before-seen photographs that illustrate the evolution of South Coast Plaza.”
“As we set our sights on the future, we are delighted to celebrate this important anniversary with our retailers, restaurants, community, philanthropic and arts partners, employees and millions of visitors who have come through our doors,” said Debra Gunn Downing, spokesperson for the retail property. “They have played a role in helping the center achieve international stature and success.”
The Ritz-Carlton in Laguna Niguel is marking the occasion by offering an “exclusive opportunity to splurge and be pampered” with a “$50,000 shopping spree at South Coast plaza, a [two-night stay] in The Ritz-Carlton Suite, and private car service from the hotel to the shopping center.”
The oceanfront property advertised the offer with a question: “What could $50,000 buy at South Coast Plaza?” along with a list of items to consider: “One Tiffany & Co. yellow diamond ring with a matching pendant, two Baccarat Mille Nuits chandeliers, 14 Chanel handbags, 25 classic Burberry trench coats or 71 pairs of iconic Jimmy Choo pumps.”
Heritage
C.J. Segerstrom & Sons owns and operates the shopping center, which sits on 128 acres of former lima bean crop fields. It opened in 1967 after the late Henry Segerstrom secured a $5 million loan from Bank of America to build it. The center was designed by Los Angeles-based Gruen Associates, which also worked on boutique designs for numerous luxury brands throughout Southern California.
Sears was the first anchor store interested in South Coast Plaza, and it brought along May Co. Segerstrom & Sons sold the land to the retailers for $1 apiece in a deal that required them to build basic infrastructure, such as road and utility connections, to serve the center. May Co. opened in 1966, and Sears and 60 other stores followed suit in March 1967. Construction of the San Diego (405) Freeway was completed a year later, rerouted at Henry Segerstrom’s request to ensure easy access for shoppers.
Andre Courreges, Halston, Saks Fifth Avenue, I. Magnin & Co. and Nordstrom joined in late 1970s, while Yves Saint Laurent came on board in 1982, followed by Tiffany & Co. in 1988.
“I had the extraordinary opportunity of growing up with our family business as South Coast Plaza developed over the past 50 years,” Anton Segerstrom said. “My father mentored me on the importance of creating a unique destination and providing an exceptional experience. He always challenged me to be creative and innovative. I think that his vision is clearly manifested in South Coast Plaza today.”
The center’s roster of premium retailers rivals any famed retail district in the world, with names such as Christian Dior, Louis Vuitton, Lanvin, Valentino, and Hermès—the latter of which chose the Costa Mesa center for its first-ever store in 1997.
About 30% of the shopping center’s 22 million annual visitors come from outside Southern California, and 20% of those arrive from abroad. The focus on European locales has been supplemented in more recent years with appeals to well-heeled shoppers from China and the Middle East—the center was the first mall to accept the China UnionPay card.
