Luxury brands see Australia as ripe pickings
Luxury overseas brands have discovered Australia in the past few years and are now accounting for a significant share of the retail market, in terms of sales and physical presence, which has put pressure on rents, according to agents.
And as demand rises and landlords build flagship stores, the inflow will continue. But while the likes of Zara, H&M and Uniqlo received rock star openings, the largest number of stores, across the country, are leased and operated by Hugo Boss, with 21 freestanding stores, followed by Ralph Lauren with 12, Louis Vuitton with 10 stores, Gucci, Coach and Max Mara all with nine stores, Bally with eight, and Chanel and Tiffany & Co. with seven each.
Locally, the largest store network is operated by domestic brand Oroton, which currently has around 45 stores nationally.
Colliers International agents say consumers also covet the superior in-store experience and exclusivity of luxury shopping. Sydney Monring Herald – Read more…
And as demand rises and landlords build flagship stores, the inflow will continue. But while the likes of Zara, H&M and Uniqlo received rock star openings, the largest number of stores, across the country, are leased and operated by Hugo Boss, with 21 freestanding stores, followed by Ralph Lauren with 12, Louis Vuitton with 10 stores, Gucci, Coach and Max Mara all with nine stores, Bally with eight, and Chanel and Tiffany & Co. with seven each.
Locally, the largest store network is operated by domestic brand Oroton, which currently has around 45 stores nationally.
Colliers International agents say consumers also covet the superior in-store experience and exclusivity of luxury shopping. Sydney Monring Herald – Read more…
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