Following a slowdown over 2017, the rate of luxury store openings regained pace over 2018 with 40 openings (37 of which in Paris), representing a 11% decrease compared with the previous year.
For the first time since 2015, new store openings were in the minority with extensions and existing store renovations taking the lead.
Top 5 Luxury Retail Streets
- Rue Saint-Honoré
- Rue du Faubourg Saint-Honoré
- Vendôme / Paix
- Avenue Montaigne
- Avenue des Champs-Elysées
Key highlights:
40
The number of luxury store openings in France in 2018 36 in 2017 93% of which were in Paris (82% in 2017)
Source : Cushman & Wakefield
48
Number of luxury flagship stores in France in 2018 48 in 2017 (43 in Paris)
Source : Cushman & Wakefield
46%
Estimated share of Chinese consumers in global personal luxury goods by 2025 32% in 2017, 29% of duty-free shopping spend in Europe.
Sources : Bain & Company, Global Blue
260billion € +2%
Global personal luxury goods market in 2018. €254bn in 2017.
Source : Bain & Company
16,5mILLION € +5,5%
Hotel arrivals in Paris Sept. 2018 (year on year). 60% overseas visitors.
Sources : Bain & Company, Global Blue
