Advertise with

London is now the second favourite destination for luxury US retailers to break into the European market.
London is now the second favourite destination for luxury US retailers to break into the European market.

London now second favourite for US luxury retail expansion


By Ava Szajna-Hopgood - Apr 16th 2018, 10:31

London is now the second favourite destination for luxury US retailers to break into the European market. 

New research from Savills has found overseas expansion of luxury brands spurred on Europe’s letting activity in the global luxury retail market, with London and Paris acting as favourite stepping stones for brands to enter the market.

Accessible luxury brands have been much more acquisitive in recent years, growing their share of the market from 38 percent in 2016 to 45 percent in 2017.

In that year, London took 5.6 percent of all affordable luxury store openings globally, tied with Milan and ahead of Singapore, Hong Kong, New York and Tokyo.

Savills’ commercial research director Marie Hickey said, “this shift should prove beneficial in terms of occupational demand as these types of brands can support multiple stores in a given city, particularly in the larger European cities of London and Paris”.

Paris topped the European and global rankings in 2017, accounting for 5.9 percent of all letting activity. In Europe, London and Milan were tied second, each accounting for five percent of global activity.
Retail Gazette 

Read more about: retail | paris | luxury retail | london | expansion

Related News

Checkers brings world-class retail to Constantia with new flagship store
27/11/2019 - 13:01
Checkers has opened the doors to its state-of-the-art 2 330 m² flagship supermarket at the Constantia Emporium as the retailer continues to take innovation to new heights.

Woolworths carves out market share in SA
27/11/2019 - 10:11
In Australia, David Jones's sales declined 2.1%, with the company saying a store refurbishment contributed to the decline.

Push and pull strategies work together to keep consumers coming back for more
26/11/2019 - 10:20
The retail sector is under increasing pressure as consumers have shrinking disposable income in a strained economy. Maintaining share of wallet is critical. Relying solely on a push route to market strategy from manufacturers into retailers is not enough to get consumers buying products. A pull strategy needs to coexist with the push to drive brand consumption. Integrating these strategies requires intelligent and insightful decision-making. This, in turn, requires data generated through smart technology which provides line of sight across the value chain from manufacturer to distribution, retailer to the consumer.

Exclusive leases must fall: Commission cracks whip on Shoprite, Pick n pay, Spar, Woolies
26/11/2019 - 09:57
The Competition Commission Inquiry into Grocery Retail, published on Monday, called for an end to the exclusive leases negotiated by national retail chains in all shopping malls across the country in a bid to open up access to markets for smaller players.

Today’s customers are loyal to speed and convenience, not brands
25/11/2019 - 11:15
Consumer expectations are rapidly shifting as technologies such as mobile, geolocation, social media and increasingly, Internet of Things devices and wearables, connect people to a world of easily accessible information and convenient services. With the ability to browse, compare and order with a few swipes and taps, consumers are becoming trained to value convenience and service above nearly anything else.