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EMEA Luxury Retail EMEA Luxury Retail

European Luxury Retail

Explore the dynamics of the European luxury retail real estate market.

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At the forefront of retail real estate evolution

Europe stands as a forefront of luxury retail, offering an unparalleled shopping experience that caters to the world’s most discerning consumers. From the fashion capitals of Milan and Paris to the historic streets of London, Rome and beyond, luxury retail in Europe is characterised by a rich heritage coupled with a forward-looking approach that continues to captivate global audiences.

In this in-depth report, we delve into the dynamics of the European luxury retail real estate market, shedding light on key trends, market developments, and the strategic importance of physical stores in maintaining brand prestige and customer engagement.

The Strategic Role of Physical Stores in Luxury Retail

Physical stores remain at the heart of luxury retail strategies. These spaces are more than just points of sale; they are places for immersive brand experiences that convey a sense of exclusivity, craftsmanship, and the unique heritage of each brand. Key luxury streets across Europe, including Via Montenapoleone in Milan, Avenue des Champs-Élysées in Paris, Bond Street in London and Passeig de Gràcia in Barcelona, continue to thrive as epicenters of luxury shopping, attracting both international tourists and local clientele.

The allure of these destinations is underscored by the resilience they have shown in terms of demand and rental growth, even in the face of economic uncertainties. This vibrancy is a testament to the enduring appeal of luxury shopping as an engaging in-person experience, one that cannot be fully replicated online.

European Luxury Retail Real Estate at the Fore

The European luxury retail market embodies a blend of tradition and innovation, offering consumer experience that is unique. As the sector continues to evolve, the emphasis on in-store and in-person experiences will be key to captivating luxury consumers across all demographics and profiles. In this dynamic landscape, Europe's luxury retail streets and the brands that grace them stand as beacons of excellence, continuing to set the standards for the global luxury market.

Key Takeaways

ContaCT OUR TEAM

Cushman & Wakefield's dedicated Luxury Retail Team remains at the forefront of these developments, providing invaluable insights and expertise to help navigate the complex terrain of the European luxury retail real estate market.

Our Luxury Team

Sally Bruer
Sally Bruer

Head of EMEA Logistics & Industrial and Retail Research
London, United Kingdom


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Robert Travers

International Partner, Head of EMEA Retail
Barcelona, Spain


+34 93 467 27 40

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Vincent Ascher
Vincent Ascher

International Partner
Neuilly-sur-Seine, France


+33 1 53 76 92 95

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Duncan Gillard - London
Duncan Gilliard

International Partner
London, United Kingdom


+44 (20) 71525147

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Thomas Casolo Milan
Thomas Casolo

Head of Retail Italy
Milan, Italy


+39 02 63799218

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Jonathan Delguste Brussels
Jonathan Delguste

Partner, Retail Agency, High Streets leasing
Brussels, Belgium


+32 2 514 40 00

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FAQs

The Cushman & Wakefield European Luxury Retail report is a detailed research report crafted to provide an authoritative and sophisticated analysis of the luxury retail real estate market across Europe. It offers in-depth, data-driven insights, covering luxury retail real estate market dynamics as well as luxury retailer and consumer trends. This comprehensive report is invaluable for stakeholders looking to understand the intricacies of the European luxury retail real estate landscape.

The luxury retail real estate market is propelled by several key drivers including evolving consumer preferences and innovative strategies for utilising stores for customer engagement and brand enhancement. This includes luxury brands’ expansion into more experience-based offerings and their preference to offer wider ranges and more products to customers within individual stores. These key elements are helping to shape the retail real estate strategies of luxury retailers and brands.

Luxury retailers are adapting to evolving consumer demands by creating stores that engage and delight shoppers. Compelling design remains a key component of this but there is growing adoption of technology in stores to create opportunities for customers’ engagement with brands. A key driver of real estate strategy is the enhancement of customer engagement through exclusive in-store experiences. This along with growing preference to carry wider ranges of products in individual stores is fuelling demand for larger spaces.

The Cushman & Wakefield European Luxury Retail report covers an extensive range of countries and cities across Europe, including the United Kingdom, Italy, France, Germany, Switzerland, Spain, Portugal, Belgium, the Netherlands, Czech Republic, Sweden and Denmark. Cities such as London, Milan, Rome, Paris, Munich, Düsseldorf, Barcelona, Madrid, Lisbon, Zurich, Geneva, Prague, Brussels, Amsterdam, Stockholm and Copenhagen are highlighted.

The Cushman & Wakefield European Luxury Retail report covers 20 key luxury retail high streets across Europe, famed for their concentration of luxury retail offerings, attracting both domestic and international affluent shoppers. Key luxury streets covered in this report include:

  • Paris – Avenue Montaigne, Avenue des Champs-Élysées, Rue St-Honoré and Rue du Faubourg St-Honoré
  • Milan – Via Montenapoleone.
  • Rome – Via Condotti
  • London – Bond Street and Sloane Street
  • Munich – Maximilianstraße
  • Düsseldorf – Königsallee
  • Barcelona – Passeig de Gràcia
  • Madrid – Calle de Serrano and Calle de José Ortega y Gasset
  • Lisbon – Avenida da Liberdade
  • Brussels – Boulevard de Waterloo
  • Amsterdam – PC Hooftstraat
  • Prague – Pařížská
  • Zürich – Banhhofstrasse
  • Geneva – Rue du Rhône
  • Stockholm – Bibliotekstan
  • Copenhagen – Strøget

These streets are pivotal in defining the landscape of European luxury retail, often setting trends and standards in the global luxury market.

Learn more about the world’s most prestigious retail streets in our Main Streets Across the World.

Hospitality is playing a growing role in the luxury retail industry by enhancing the brand experience and fostering deeper connections with consumers. It extends the brand's presence beyond traditional retail settings, offering exclusive experiences that embody the brand's values and lifestyle proposition. Expansion into areas of hospitality by luxury retailers will remain an important strategy for the future as consumers’ appetite for luxury experiences grows and brands seek to deepen customer engagement.

Physical stores remain crucial in the luxury retail market by offering brand experiences that cannot be replicated online. They serve as a physical touchpoint for consumers to engage with products, receive personalized services, and partake in exclusive events and access exclusive products, reinforcing brands’ prestige and desirability.

The European luxury retail property market is expected to see continuing demand for space focused on key prime streets across Europe. However, the ongoing constraint in availability continues to create challenges for retailers to secure appropriate spaces. This ongoing demand-supply challenge means that there is upward pressure on prime rental levels. The resilience of luxury retail real estate suggest a positive outlook for key streets across Europe, delivering vital physical spaces for customer engagement and brand enhancement.

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