Photo: Grupo Palacio


It was a night to remember, and long-remembered it will be.

The gala opening of Palacio de Hierro’s stunning new $140 million Coyoacán luxury department store in Mexico City’s freshly remodeled Mítikah shopping mall on Thursday, Sept. 22, not only wowed with its fabulous five-story property, but also with the black-tie reception that no doubt constituted the biggest social event in Mexico for all of 2022.

More than 7,000 guests, composed of Mexico’s social crème de la crème, attended the elegant, black-tie fête, where they were ushered in on a yellow carpet (the official color of the upscale Palacio brand) by an unprecedented symphony of 60 celloists performing works by Mexican classical composers Carlos Chávez, Silvestre Revueltas, Blas Galindo and Agustín Lara.

As guests mingled and sipped on Veuve Clicquot champagne served by tuxedoed coyotes (Coyoacán is named after the Nahuatl word for coyote, and the canis latrans is the official totem of the neighborhood), Grupo Palacio President Alejandro Baillères offered a brief welcome speech under the brightly painted escalators on the ground floor.

And, indeed, it is the escalator murals that are one of the biggest attractions of the fabulous 37,632-square-meter property.

Painted by internationally acclaimed Mexican artist Yanieb Fabre, this monumental work extends all the way to the top floor and is a posthumous tribute to former Grupo Palacio director Alberto Baillères González.

The entire egg-shaped building, with its domed ceiling and gracefully contoured design, is the architectural accomplishment of New York design team Alec Zaballero and Vlad Zadneprianski of TPG Architecture.

Six different Mexican artists helped decorate the interior of the building with 18 separate murals inspired by some of Coyoacán’s most celebrated artists, actors and historic figures, from 1940s film star Dolores del Río to painter Frida Kahlo, whose home (now a museum) is only minutes away.

In addition to the 500,000 products presented in 266 individual showrooms inside the posh Palacio de Hierro Coyoacán, the store offers 10 unique Palacio experiences, including a clean-and-green beauty brand section, an immersive “Hello Yellow” virtual trolley car ride through Coyoacán, a kids’ grooming lab, a candy shop, a mezcalería, a barbershop, a tattoo studio, a concept store and an authored restaurant.

After Baillères’ speech, there was a live performance by Mexican pop singers Ximena Sariñana and Berry Ibarra.

The opening of the store also included an elegant fashion parade, a jamming DJ show and a sampling of traditional Mexican cuisine produced by chef Gabriela Ruiz, owner of Mexico City’s Carmela y Sal restaurant.

Founded in Born in 1888, Palacio de Hierro is a subsidiary of Grupo Ball.

There are 14 Palacio de Hierro stores throughout Mexico, eight of which are located in Mexico City.

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