Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}
EMEA Luxury Retail EMEA Luxury Retail

Insights

European Luxury Retail

Location, Visibility, Experience: Luxury Retail Strengthens the European High Street Market.

Download Report

The success of Europe's luxury high streets has been demonstrated by both retailers and consumers, and has resulted in the opening of 107 shops on 20 key high streets in 16 cities and 12 countries by 2023, according to Cushman & Wakefield's exclusive report on luxury retail in Europe.

Luxury brands hit the high streets

Almost 70% of new luxury shops are dedicated to fashion and accessories. With a third of these openings attributed to LVMH, Kering and Richemont, demand for premium locations is driving up rents on the most prestigious high streets, despite limited vacancies. Among the 20 streets featured in the report, 16 have vacancy rates of less than 5%, including seven with no available space. This, combined with the strength of the retailers, has boosted rent growth on luxury high streets: estimated at +3% in 2023, average rent growth on these high streets in Europe is almost double the average for European high streets (+1.6%).The Champs-Élysées avenue in Paris is ranked as one of the five most expensive retail locations in the world. As location has always been, and will remain, a key factor for luxury retailers, demand is underpinning the sharp rise in rents.

Paris consolidates its position as Luxury destination with 25 new Openings

Paris has recently seen a renewal of activity on its main luxury shopping streets. A total of 25 new shops have opened on the city's four main high streets, with rue Saint-Honoré and avenue Montaigne each hosting nine new openings. In addition to these store openings, luxury brands have also recently expanded or upgraded their retail spaces: these include Bottega Veneta and Loewe on avenue Montaigne, Alexander McQueen and Comme des Garçons on avenue Saint-Honoré, and Dior on avenue des Champs Elysées.Paris remains very attractive to luxury brands and is still one of the world's most sought-after destinations in this sector, with vacancy rates of less than 4% on the four main high streets.

Ready to redefine your retail strategy?

Gain exclusive access to European Luxury Retail. Sign up now for early insights.

Related Insights

Main Streets Across the World 2023 - Thumbnail card
Insights

Main Streets Across the World 2023

In this 33rd edition of Main Streets Across the World, we’ll explore the near-term outlook for the retail sector; headline rent and ranking changes for best-in-class urban locations across the world; key indicators and global main street rankings; and key trends to watch such as the cost-of-living crunch, e-commerce and more.
Christian Dubois • 21/11/2023
French Outlet Centres Marketbeat 2023
Insights

Outlet Centre Market 2023 in France

The combination of price, brand and experience is a model that has its place, particularly in the current period of pressure on purchasing power and consumption. Read more about the French outlets market in 2023. 
Vanessa Zouzowsky • 17/10/2023
French Luxury Retail Market 2023 report cover
Insights

French Luxury Retail Market in 2023

The post-Covid rebound in business has been significant in Europe, and particularly in the French market, where Paris has held its own against the major European capitals.
Vincent Ascher • 17/03/2023

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Contact Our Team for a Personalized Consultation 
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Cookies.
MORE OPTIONS
Agree and Close
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS