Retail Marketstudy 2012 - Location Group

1
locationgroup research | Retail Market Study 2012

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Retail Market Study
2012
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th
4 Edition
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EUROPE
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SWITZERLAND
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Chronic: 10 years Bahnhofstrasse
The Bahnhofstrasse in retrospect
of the new additions and
changes of the past 10 years
Key Money
14 Million Pound in London,
24 Million Euro in Milan and
50 Million Dollar in New York
Expansion Strategies
Victoria's Secret comes to Europe,
Salvatore Ferragamo on expansion course,
Christian Louboutin with a global roll-out
International Premiere
For the first time the most important
850 retailers, 600 high streets and
450 shopping centers have been analyzed
Investment Market
Highest demand of the last 20 years
for retail properties and unknown
rental income increase opportunities
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Retail Market Study
2012
4
5
Foreword Page 9
I
01 Europe integrated Page 10
02 Swiss retail market changes Page 11
03 Zurich registers record rents and the highest demand from retailers Page 12
04 Geneva a major focus for all jewellery and watch retailers Page 36
05 Basel with Switzerlands largest Apple store Page 42
06 Bern cell phones and womens wear supplant an organic supermarket Page 46
07 Lausanne second only to Zurich when it comes to number of shopping streets Page 49
08 Winterthurs businesses hurt by the strong Swiss franc Page 51
09 St. Gallen, the new generation makes an important decision on Multergasse Page 54
10 Lucerne, Bucherer the worlds top watch boutique Page 56
11 Lugano, small but oh so comely Page 60
12 Biel, a city with great potential Page 62
13 Department stores, Railcity and airport shopping have all scored the greatest success in Zurich Page 64
14 Shopping malls prepare for the future Page 69
15 Swiss Merger & Acquisitions Page78
16 Switzerlands highest-demand investment market of the past two decades Page 80
17 Germany a major focus of domestic and international retailers Page 84
18 Berlin with a renaissance in Charlottenburg and how Page 89
19 Munich the top address for international retail chains Page 97
20 Hamburg, Bottega Veneta & Burberry with new locations Page 102
21 Cologne, Bershka opens second German fagship store Page 105
22 Frankfurt, Zara Home And H&M Home opened in Frankfurt Page 110
23 Stuttgart, ECE in search of parking lots at the main train station Page 112
24 Dusseldorf, Abercrombie & Fitch 100 male fashion models on Knigsallee Page 116
25 Dortmund with an exciting autumn to look back on Page 120
26 Dresden new with Apple & Hollister Page 122
27 Leipzig - rapid development, unmatched by any other city in Eastern Germany Page 124
28 German real estate investments - the biggest deals Page 125
29 M&A , are fashion deals set to increase or decrease in Germany over the course of 2012? Page 126
30 High-growth for shopping malls and department stores Page 127
31 Austria with new Anglo-american retailers Page 131
32 Viennas Golden U with new luxury retailers Page 132
33 Austrias new openings - Forever 21 takes Vienna by storm Page 133
34 Austrian investment market news - Kaufhaus Tyrol wins award Page 138
35 G3 Shopping Centre in Gerasdorf - a recently realised out-of-town shopping mall Page 140
36 Austrian M&A Deals - Don Gil is no more Page 144
37 London, Forever 21 pays record 17 million euros key money Page 147
38 Brussels with seventh European Abercrombie & Fitch Page 166
39 Antwerp new with Moncler und Jimmy Choo Page 169
40 Amsterdam, P.C. Hofstraat is the luxury mile Page 172
41 Paris, Moynat a stroke of genius by Bernard Arnault Page178
Table of Contents
6
Table of Contents
42 Madrid with third Abercrombie & Fitch in Europe Page 190
43 Barcelona, Apple debut at Passeo de Gracia Page 196
44 Milan, Prada pays 24 million euros key money for Galleria Vittorio Emanuele II space Page 201
45 Rome with new Louis Vuitton Maison Page 210
46 Oslo with worlds biggest Ikea presumably in 2014 Page 216
47 Stockholm with many newcomers on Biblioteksgatan Page 218
48 Helsinki with new openings at Aleksanterinkatu, Kluuvi and Kmp Galleria Page 222
49 Copenhagen new with Lanvin and Moncler on Strgets stergade Page 224
50 Warsaw with new opening of Wolf Bracka Luxury Department Store Page 227
51 Prague, Tiffany opened opposite Gucci Page 232
52 Budapest, Andrssy t - the most important shopping street in the Paris of the East Page 237
53 Bukarest new with Burberry, Gucci and H&M Page 239
54 Moscow, Salvatore Ferragamo with frst mens mono-brand store Page 244
55 Zagreb with superb luxury shopping in the centre Page 253
56 Belgrade new with Armani, Burberry und Fly London Page 256

Special: Luxury European holiday resorts Page 262
II
57 Istanbul Nistansi district: Particularly popular with Turkish jet-setters Page 275
58 Tel Aviv, American Eagle Outftters and Forever 21 new arrivals at Azrieli Mall Page 281
59 Beirut, Rue Verdun one of Beiruts most renowned shopping streets Page 284
60 Dubai Rolls Royces Spirit of Ecstasy celebrates its centenary in Dubai Page 286
61 Abu Dhabi Mushrif Mall opened with 200 stores Page 292
62 Riyadh - Christian Louboutin opens frst Saudi store in Riyadh Page 296

III
63 Casablanca, Morocco Mall opened with great success Page 303
64 Marrakech with American Eagle debut Page 305
65 Algier with new Lacoste and Starbucks stores Page 307
66 Cairo, American Eagle, Gap and Marks & Spencer debut Page 308
67 Accra, Accra Mall - West Africas most modern shopping mall Page 312
68 Lagos, Gildo Zegnas eyes on Nigeria as emerging market Page 315
69 Johannesburg, new expansion at Sandton City Nelson Mandela Mall Page 319
70 Capetowns Canal Walk: The largest shopping mall in the Southern Hemisphere Page 323

7
IV
71 New-Delhi, Bottega Veneta, Damiani und Canali debut at Oberoi Gurgaon Hotel Page 329
72 Mumbais 150,000 square metre Phoenix Market City mall opens Page 334
73 Hanoi, Parkson department store opens in skyscraper Page 340
74 Ho Chi Minh City, the new Rex luxury hotel & shopping mall Page 348
75 Bangkok, Shopping malls are shopaholics paradise Page 351
76 Kuala Lumpur, Starhill Gallery listed as Asias most beautiful shopping mall Page 356
77 Singapore, Louis Vuitton opened the chains largest store on the water Page 360
78 Jakarta, 12 malls bigger than 100,000 sqm total space Page 364
79 Macau, Wynn Macau with best expamples for haute couture Page 368
80 Hong Kong, Abercrombie & Fitch wins central district space for brands Hong Kong debut Page 372
81 Taipei, Luxury brands to expand in Taiwan Page 378
82 Manila, Uniqlo - Japans leader of casual clothes is coming to Manila Page 380
83 Shanghai, Louis Vuitton marks the 20th anniversary of its presence in the Chinese market Page 385
84 Seoul, Uniqlo registers sales of 1,3 million euro on opening day Page 395
85 Beijing, Seasons Place Mall features over 600 stores, most of them luxury brands Page 399
86 Tokyo at ten million yen per square metre, Ginza real estate is the priciest in Japan Page 407
87 Sydney, Zara debuts, while Apple opens its 11th Australian store Page 417
88 Melbourne, British cult retailer TopShop makes Australian debut Page 423
V

89 Toronto, Max Mara and Michael Kors opening in Bloor Street Page 429
90 New York, Jeff Sutton paid Escada 25 million dollar to vacate the store Page 433
91 Las Vegas with biggest H&M worldwide on 5,000 square metres Page 451
92 Los Angeles hot new opening - Lanvin lands on Rodeo Drive Page 456
93 Mexico-City, luxury street Avenida Presidente Masaryk established Page 461
94 Sao Paulo Iguatemi - best shopping location in Latin America Page 466
95 Buenos Airos, luxury mile Avenida Alvear of great interest Page 470

VI

Mergers and Acquisitions Page 476
Prices and wages Page 480
Shopping center development: an uncertain pipeline Page 484
Most Expensive Retail Locations Worldwide 2011 Page 487
Shopping center and streets Page 490
Retailer Page 492
Sources Page 494
The outlook for 2012 Page 498

Table of Contents
8
Publisher:
LOCATION GROUP, Lwenstrasse 43, CH-8001 Zurich
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LOCATION RETAIL AG, http://www.locationretail.com
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LOCATION INVESTMENT AG, http://www.locationinvestment.com
ELOCATIONS.COM
Layout:
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Disclaimer:
This document was compiled by the LOCATION GROUP Research Team and is not
the result of our location or fnancial analyses. This publication is for information
purposes only and was compiled on the basis of accessible information. The
ideas and opinions expressed herein are those of the LOCATION GROUP Re-
search
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Copyright 2012:
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Visit us on the Internet at: http://research.location.ch.
9
As in the past, this LOCATION GROUP market study provides you
with valuable information concerning the key trends and develop-
ments in the worldwide retail sector.
For this report, the Location Group team trained its sights on the
choicest locations, best frequented centrally located retail loca-
tions, and top-drawer shopping malls and complexes worldwide
that offer the greatest sales potential. Last years report focused
on Switzerland, Germany, and Austria, as well as New York, Tokyo,
Beijing, Shanghai, Hong Kong, Paris, London, Milan, and Rome. The
excellent feedback and numerous requests we received on the
2011 report prompted us to include in our study all notable inter-
national cities that are in the forefront of fashion and design.
We also paid visits to the worlds top shopping streets in cities
such as Buenos Aires, Sao Paulo, Los Angeles, Las Vegas, New York,
Hanoi, Shanghai, and Beijing, and have documented them via our
Location TV station. The highlight of this documentation was und-
oubtedly our interview with the charismatic CEO of Hublot, Jean-
Claude Biver, who received us in his new Paris and London bou-
tiques.
The continuing turbulence in the worlds fnancial markets, as well
as growing sovereign debt in a number of states, are having a detri-
mental impact on the retail sector, among others. Moreover, globa-
lisation in the guise of new and inventive retail formats from the US
and Asia is placing increasing pressure on European retailers. The
cities that are currently most promising for expansion are London,
Paris, and Berlin.

The expansion of European luxury retailers into Asian and South
American markets is still going strong an evolution driven by ri-
sing purchasing power, exponential economic growth, and subs-
tantial revenue and proft growth,
Hence, the appetite of international retail chains for prime retail
locations remains as voracious as ever. Top-drawer store locations
are a vanishing species and are much sought-after by many retai-
lers who need these venues to meet their international expansion
goals. This situation is pushing rents higher in many cities, much to
the delight of owners and developers of prime retail locations.
LOCATION GROUP specialises in site consulting and development,
and as an expert partner of property owners and retailers has been
doing business successfully for many years now.
We here at Location Group hope that you will fnd this years report
informative and enjoyable.
Marc-Christian Riebe
CEO, President and Founder
Foreword
10
European integration has made giant economic and political stri-
des. In particular, the economies of the Eastern European acces-
sion states Poland, Czech Republic, Hungary and Slovakia are
displaying dynamic growth a trend that is spurring consumer
demand. However, according to the International Council of Shop-
ping Centres (ICSC), in the Western European states of Belgium,
Germany, France, Great Britain, Italy, the Netherlands, Austria,
Portugal, and Spain, in the 1990s there was also an around 50 %
increase in retailer entries into new national markets comparative
to the 1980s.
Virtually every major European player has now an expansion de-
partment, and the practices of myriad top European retailers show
that the retail sector is becoming more international in nature than
ever.
However, success is not always assured or immediate, and only
those formulas that are successful are amenable to replication.
The retail ventures of major players such as Karstadt in France,
and Marks & Spencer, Gap and Walmart in Germany, as well as Es-
prit and KiK in Scandinavia, have fallen fat on their faces at one
time or another.
Although the retail sector has always existed in the 27 EU member
states, these sectors can be subdivided into various classes and
stages of maturity. The position of the large-supermarket sector is
a reliable index of the maturity of a given EU member states retail
sector. Whereas the retail sector is a highly signifcant factor in re-
latively new markets and tends to make life diffcult for supermar-
kets, supermarket sales tend to stagnate in states with saturated
and highly developed markets. The market position of discounters
is likewise a reliable yardstick of a countrys market maturity since
discounters need professionalised processes within their organi-
sations. Discounters are becoming a force inc-
reasingly to be reckoned with in Europe.
Another key indicator for the measurement of
market maturity is the multi-branch ratio and
the closely related factor, the concentration
ratio, of a given national retail sector. In some
European shopping streets, the multi-branch
ratio is nearly 100 % and owner-operated stores
have virtually disappeared from the scene since
rents are prohibitive for any players except re-
tail chains with deep pockets.
As one would expect, the maturity levels of the
retail sectors in the 27 EU states vary greatly,
with the maturation process being affected,
impeded or spurred by numerous factors. The
following graphic shows the varying degrees of
maturity of the 27 EU states respective retail
sectors.
The 27 EU states fall into four retail-sector
maturity groups, from which various European
commercial areas emerge. Moreover, the afo-
rementioned analysis applies across the board
despite the differences in sales revenues and
economic development in the various states.
01
Europe integrated
.
EU27: Retail maturity level
GFK purchasing power 2010/2011
11
02
Swiss retail market changes
.
Multinational retailers, which were a negligible force in Switzer-
land only two decades ago, are on the march a trend that is wor-
king to the beneft of consumers.
The Swiss retail sector, which is characterised by tough compe-
tition, needs to become more open. A mere 20 years ago, it was
smooth sailing for this sector in terms of competition, and the only
foreign competition for Switzerlands 25 largest retailers was the
Dutch clothing retailer C&A. But this situation has changed, and
an increasing number of international retail chains are looking to
obtain a slice of the lucrative Swiss retail pie.
According to a GfK Switzerland study of the Swiss retail market
titled Detailhandel Schweiz, Around 14 % of Switzerlands 97,8
billion franc in retail sales last year were accounted for by foreign
retailers. Ten years ago, the fgure was only 8,6 %, and in 1990 it
was nearly zero.

This study mainly concerns itself with the internationalisation of
the retail sector, particularly in the non-food domain, where foreign
retailers currently hold a 27 % market share. Thus for example, the
fashion retail chain Hennes & Mauritz is the market leader in this
segment, while Ikea is the top performer in the home furnishing
market, and the German-owned Dosenbach-Ochsner Group is ma-
king great strides in the shoe sector.

The advent of new market players aside, price wars are becoming
more and more intense in the Swiss retail sector, and even the
market leaders, Migros and Coop, are feeling the pinch. The largest
Swiss retailers have recently begun pursuing a strategy of furious-
ly buying up the foreign competition with the goal of keeping it at
bay.
The strength of the Swiss franc has knocked Swiss retail
sales for a loop this year
According to the economic research organisation BAK Basel, no-
minal earnings in the Swiss retail sector are set to decline by
1 % this year, the largest decline in 15 years (this forecast was
issued in October 2011). The strength of the Swiss franc relative to
foreign currencies, BAK says, has driven retail prices down by an
average of 2,9 % and thus to 1993 levels. The consequent real
sales growth is put at 2,1 %.
Shopping tourism is also a major downer for Swiss retailers: con-
sumer purchases effected abroad will equate to more than 3 billion
franc which is lost to foreign retailers, says BAK. The strength of the
Swiss franc is also cutting into foreign tourism and this in turn is
having a negative impact on sales.

BAK expects the situation to improve somewhat in 2012, particu-
larly in view of their projection that the value of the Swiss franc will
level out. According to BAK, nominal and real sales are set to de-
cline by 1 and 0,9% respectively. Statistics released by the Swiss
Offce of Statistics also point to a decrease in retail sales in 2011.
Nominal sales for January through August were 0,5 % lower than
for the same period in 2010 and the tendency is downward for the
whole 2011.
Demand for luxury goods still strong
However, according to a Bank Vontobel survey of watch, leather
goods, and fashion retailers, things look brighter for the high-end
retailers on Zurichs Bahnhofstrasse, most of whom are expecting
their best year ever (apart from 2010). According to the study, this
result is mainly attributable to Chinese shoppers. Around 25 % of
sales are accounted for by these shoppers, says analyst Ren We-
ber. The fgure in 2010 was a mere 15 %.
GfK purchasing power Switzerland
12
ZURICH is not only Switzerlands largest city (1,5 million in Zurich
proper, 1,66 million in greater Zurich) but also the countrys most
important fnancial and business centre.
A new high of 12,500 franc per square metre has been
reached
The most recent rental for CHF 12,500 per square metre empha-
sizes the fact that the sales potential of Bahnhofstrasse which
ranges upward from 100,000 franc to 225,000 franc per square
metre is attracting a growing number of multinational retail
chains. A UBS market survey of prices and salaries, as well as si-
milar surveys by Time Magazine, GfK, Bloomberg, Forbes and many
others, show that Zurich offers the worlds top purchasing power
and net income, and that Zurichers have the worlds highest dis-
posable income. Jewellery and watch retailers in particular are
well able to afford store rents on the citys main shopping street
Bahnhofstrasse since Zurich, counts as one of the worlds top th-
ree retail locations.
Zurichs 1,4 kilometre long shopping street Bahnhofstrasse is
home to 140 stores with an 87 % multibranch ratio, which means
that only 13 % of the streets retail stores are leased by indepen-
03
Zurich registers record rents and the highest
demand from retailers
.
dent businesses. Each day, Bahnhofstrasse is frequented by more
than 100,000 persons, and every day more than 400,000 travellers
pass through Zurichs main train station (Hauptbahnhof), which is
one of the worlds most frequented train stations with more than
2,915 trains running daily. On completion of the Durchmesserlinie
line to Oerlikon in June 2014 and with the underground train sta-
tion Lwenstrasse in operation, it is expected that Zurichs main
train station will be frequented by more than 500,000 persons
daily. The train station Lwenstrasse will also be home to 37 new
stores across 2, 800 square metres of retail space.
A look back at the past decade on Bahnhofstrasse and the
outlook for the future
A record number of multinational retail chains have opened on
Zurichs Bahnhofstrasse over the past decade. The roster is im-
pressive: opposite the Swiss National Bank is a space formerly
occupied by DKNY and Trudie Gtz and now by the Salis & Vertes
art gallery; Benci Brothers took over from Alfred Day; EFG Bank re-
placed Auktionshaus Stuker; in 2003, Trudie Gtz took over the for-
mer Trois Pommes and Leonard stores (700 square metres), right
after opening stores in New York and Tokyo; Pradas fagship store,
Bally Bahnhofstrasse, Zurich
13
Top Ten Retail Locations per Country
Rank Rent/sqm/Year Rent/sqm/Year
2011 2010 Country City Location CHF EUR
1 1 USA New York 5th Avenue 19,882 16,432
2 2 Hong Kong Hong Kong Causeway Bay 14,312 11,636
3 3 Switzerland Zurich Bahnhofstrasse 12,500 11,412
4 5 UK London New Bond Street 9,603 7,808
5 9 Australia Sydney Pitt Street Mall 8,778 7,137
6 4 Japan Tokio Omotesando 8,770 7,130
7 6 France Paris Avenue de Champs-Elyses 8,632 7,018
8 13 Russia Moscow Stoleshinkov Lane 8,628 7,015
9 7 Italy Milan Via Monte Napoleone 7,783 6,327
10 8 South Korea Seoul Myenongdong 5,798 4,714
which was designed by Roberto Baciocchi; the fashion retailer
Devernois, which took over the lease of the troubled shoe retai-
ler Charles Jourdan in 2004; Tommy Hilfger, which took over Moda
Parades around 500 square metre space a year later; Jimmy Choo,
which replaced Saint Phil in 2010; and Loro Piana, which took over
the bag retailer Mdlers store in 2009 and will soon be expanding
into the current Marionnaud store.
Most recent changes of hand at Bahnhofstrasse
In 2009, the Swatch Group took over the retail premises of PPP
Pelz Paradies boutique on Paradeplatz and opened Switzerlands
frst Blancpain store. In 2010, on the opposite side of Paradeplatz,
Hackett London took over from Mvenpick because Mvenpick
considered the rent to increase to 800,000 franc imposed by the
landlord (the Zurich-based construction company Steiner) to
be prohibitive. After many years of waiting, Herms managed to
persuade the Meister family to give up the lease on their Meister
Silber porcelain store three years before the lease expired, and
in September 2010 Herms celebrated the opening of its 400
square metre Swiss fagship store in a building also housing the
Zeughauskeller restaurant.
Alfred Eschers dream comes true
In October 2002, after three and a half years of construction, the
newly renovated Credit Suisse headquarters on Zurichs Parade-
platz offcially opened right on schedule, at a cost of approximately
80 million franc. In keeping with the buildings heritage, Credit Su-
isse decided to make it a new hub of activity for downtown Zurich.
The buildings crown jewel is its atrium, which was formerly the
main hall and is accessible from Bahnhofstrasse, Brengasse and
Paradeplatz. Hence, around 1,000 square metres of the buildings
5,000 square metres have been given over for public use. By retur-
ning Paradeplatz Passage to the city and thus to the public, the
building has been restored to its state dating back to the period
from 1876 to 1900. And thus Alfred Eschers wish that this buil-
ding should help to beautify Zurich and be an adornment to the
city, just as its unique train station is was fulflled more than just
architectonically; the site is now also a key gathering place for Zu-
richers and throbs with life.
Of the around 300 stores that applied for a lease in the new atri-
um, only 11 were given the go-ahead to set up their shops there.
The Giorgio Armani and Ermenegildo Zegna boutiques extend over
two levels and a combined of 300 square metres. Likewise on the
Bahnhofstrasse side is Montblanc, opposite the new Fabric Front-
line Silk emporium of the king of silk Andi Stutz. Swiss offce is
right next door. Strozzis, which folded after three years, was re-
placed by Dieter Meiers Restaurant Brengasse. In addition, the
jewellery retailers Christophe Graber, Bulgari, and La Serlas, which
were the only three stores in the Credit Suisse building for more
than ten years, reopened. Likewise among the few admitted to the
new atrium were Nicole Diem Optik, as well as Bottega Veneta,
whose 300 square metre store was remodelled according to plans
drawn up by Tomas Maier and William Sofeld.
14
Weinberg Bahnhofstrasse, Zurich
Credit Suisse one of the largest tenants
In 2010, Bon Gnie Grieder department store leased a portion of its
ground-foor space in the building that houses Clariden Leu bank
(Switzerlands oldest private bank and a member of the Credit Su-
isse Group) to Louis Vuitton in a unique arrangement that inter-
connects the two stores. Two years earlier, the Italian luxury goods
retailer Tods took over the former Bally-Doelker space.
New Credit Suisse tenants Patek Philippe and Breguet
In retrospect, one could almost say that it was clear from the get-
go that Chronometrie Beyer would get the nod for the former Her-
ms space. However, this did not prevent the landlord, Credit Su-
isse, from issuing an invitation to tender, to which more than 100
prominent international retailers responded. In 2011, after almost
12 months of shopftting, Ren Beyer opened the worlds fourth
Patek Philippe boutique in an around 120 square metre space.
Eight months before, having paid 3,8 million franc in key money to
the carpeting retailer Vidal, Breguet celebrated the opening of its
boutique in the adjoining space, but at a somewhat less astrono-
mical rent than what its neighbour pays. Here too, many retailers
hopes of opening a boutique at one of Bahnhofstrasses best loca-
tions were dashed.

Pedestrian footfall in the city of Zurich (per day in 1,000)
20 30 40 50 60 70 80+
Frequenz pro Tag
15
Paradeplatz Bahnhofstrasse, Zurich
Bulgari Bahnhofstrasse, Zurich
Paul & Shark and Aesop new
Credit Suisse tenants
The Paul & Shark boutique is located
behind a large glass wall. This remo-
delled Bahnhofstrasse store is next
to Chronometrie Beyer, and is now
twice the size of and twice as beauti-
ful as its previous appearance plus
there are twice as many clothes. The
space was previously home to Import
Parfmerie, whose lease was not re-
newed. In summer 2012, the Austra-
lian cosmetics retailer Aesop will be
opening its second Zurich boutique
(around 50 square metres) next to
Agent Provocateur.
16
Bank Julius Br retail rent
among the highest world-
wide
Opposite Breguet, the watch
company Piaget (a member of
the Richemont Group) leases a
150 square metre space from
Bank Julius Br and pays a new-
ly set premium rent amounting
to 12,500 franc per square met-
re, which includes the key money
that Piaget paid to Blumen Kr-
mer. In the same building, Gay-
doul Group relinquished its Na-
vyboot store to its affliate Fogal,
which doubled its lingerie retail
space to around 100 square me-
tres.
A jeweller that used to park
its Ferrari right in front of
its Bahnhofstrasse boutique
Ziegler, which took over from
Bulgari in 2002 and subsequent-
ly sold its lease to the Geneva-
based jewellery and watch re-
tailer Chopard, was known for
having its Ferrari with a Monte
Carlo license plate parked in
front of its store. The parties
have agreed to keep the purcha-
se price undisclosed.

Credit Suisse Lichthof, Zurich
Louis Vuitton Bahnhofstrasse, Zurich
17
Clariden Leu Bahnhofstrasse, Zurich
Marionnaud, Zett Meyer, IWC, Hugo Boss and
Burberry
Back in 2002, Parfmerie Alrodo (renamed to Marionnaud today)
bought the eyewear retailer Nicole Diemss lease of 24 years stan-
ding for around 1 million franc. In 2005, Zett Meyer got the nod for
the former watch boutique P. & R. Weill next door and proceeded to
open a store under its own name and as a partner of an IWC Schaff-
hausen watch boutique. At around the same time, Hugo Boss took
over two spaces next to the Bruno Magli shoe boutique, subse-
quently opening in a roughly 500 square metre space. Kitty-corner
to this store, Burberry got the nod for the former Louis Vuitton bou-
tique (which was registering the worlds second-highest per square
metre sales at the time) and paid a record of 4,5 million franc in
key money.
Sturzenegger and Rosenthal exit the scene
Hardly anyone remembers the Rosenthal store, whose space was
taken over by the jewellery retailer Cartier (likewise a member
of the Richemont Group) in 2008 for more than 1 million franc in
key money. One year earlier, Wolford bought the lease of the then-
struggling fashion house Yves Saint Laurent. After closing its doors
and abandoning all of its Swiss activities in 2004, the fashion re-
tailer Sturzenegger ceded its lease to the Italian denim retailer
Diesel. The property was subsequently sold to a private investor
for more than 40 million franc, or more than 30 times the buildings
annual rent income. In November 2005, Massimo Dutti outrivaled
Thalia and s.Oliver for the 550 square metre space in the former
main hall of the erstwhile Schweizer Volksbank location.

16 000
14 000
12 000
10 000
8 000
6 000
4 000
2 000
0
CHF
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
Development of retail rents, Bahnhofstrasse Zurich
18
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Salis & Vertes
Devernois
Hackett
London
Armani
Ermenegildo Zegna
Bulgari
Tommy Hilfiger
Prada
Alfred Day
EFG Bank
Jimmy Choo
Blancpain
Louis Vuitton
Herm s
Loro Piana
Bottega Veneta
Montblanc
Tod's
Patek Philippe/
Breguet
Marionnaud
Zett Meyer/
IWC Schaffhausen
Hugo Boss Cartier
Massimo Dutti
Coop
Jemoli
Manor
Globus
Sunrise
Benetton
Bernie's Navyboot Esprit
Apple Ex Libris
H&M
Six
Mobilezone
Manor
Claire's
Bonita
Swarovski
Starbucks
Amavita
GaleniCare
Dosenbach
H&M
Mango
Longchamp Omega (Gbelin) Diesel
Burberry
Chopard
Fogal, Piaget
16
92
93 87 75 69a 69 65 45 39 27-29 23-25
58 52 48 38 30 12
108
Fein Kaller
Changes Bahnhofstrasse Zurich 2002 2012
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Salis & Vertes
Devernois
Hackett
London
Armani
Ermenegildo Zegna
Bulgari
Tommy Hilfiger
Prada
Alfred Day
EFG Bank
Jimmy Choo
Blancpain
Louis Vuitton
Herm s
Loro Piana
Bottega Veneta
Montblanc
Tod's
Patek Philippe/
Breguet
Marionnaud
Zett Meyer/
IWC Schaffhausen
Hugo Boss Cartier
Massimo Dutti
Coop
Jemoli
Manor
Globus
Sunrise
Benetton
Bernie's Navyboot Esprit
Apple Ex Libris
H&M
Six
Mobilezone
Manor
Claire's
Bonita
Swarovski
Starbucks
Amavita
GaleniCare
Dosenbach
H&M
Mango
Longchamp Omega (Gbelin) Diesel
Burberry
Chopard
Fogal, Piaget
16
92
93 87 75 69a 69 65 45 39 27-29 23-25
58 52 48 38 30 12
108
Fein Kaller
20
Omega sales amounting to more than 100,000 franc per
square metre
Back in December 2000, the Swatch Group had the foresight to
open (together with the jeweller Gbelin) the worlds frst Omega
fagship store at the corner of Kuttelgasse and opposite to Buch-
erer, which will be remodelled in the near future. The total revenue
of 10 million franc expected at the time have since been greatly
exceeded: the store now racks up sales amounting to more than
100,000 franc per square metre.
The traditional businesses Pelz AG, Mode Madame,
Weber-Strickler, travel agency Tui and Squin-Dormann
exit the scene
Thanks to the efforts of the family that owns the building, Caf
Ernst, which is located on Fsslistrasse near the Coop department
store, was able to stay on. However, in order for the property to be
placed on a viable economic footing, in the spring of 2009 it became
necessary for the owners to terminate the lease of Pelz AG (which
had been doing business on Bahnhofstrasse since 1942), because
Sunrise was willing to pay 400 % higher annual rent amounting to
585,000 franc for the 70 square metre space. Next door, Mode Ma-
dame sold its lease to Benetton for a record sum and relocated to
Rennweg.
The building owners, who also operate the
eponymous Landolt-Arbenz store, refused
to renew the lease of what was then the
most successful store of the young-fashion
retail chain Orsay, because the boutique
did not ft with the buildings overall image.
The space was eventually leased to Bernies
for an annual rent amounting to 1,8 million
franc, but the store folded in November af-
ter only one year of operation.
Opposite this space, the French bag and
accessory retailer Longchamp opened its
frst Swiss store in September 2005 in an
around 120 square metre space formerly
occupied by the more than 100 years old
perfume store Weber-Strickler.
Fogal & Piaget Bahnhofstrasse, Zurich
Hugo Boss & Chanel Bahnhofstrasse, Zurich
21
In September 2011, just beyond the intersection with Sihlstrasse
and having swapped spaces with Tui on Limmatquai, Navyboot ce-
lebrated the opening of a 120 square metre sales foor, twice the
size of its former store.
In December 2004, Esprit took over the around 700 square metre
space formerly occupied by the homeware retailer Squin-Dor-
mann. The family that owned the property had previously sold it to
a private investor for more than 25 times the annual rent.
Jelmoli substantial investment in remodelling
Among the major undertakings were, in 2004, constructions in the
inner courtyard of the Jelmoli department store, which enabled
Cartier Bahnhofstrasse, Zurich
Diesel Bahnhofstrasse, Zurich
the store to increase its space by 3,000 square metres to 31,100
square metres. Zara now occupies 2 200 square metres of this
space, its frst store in Zurich. The sporting goods retailer Nike
doubled its space to 800 square metres, making this store one of
the companys three largest worldwide. Jelmoli spent 45 million
franc on the remodelling and expansion project, and invested an
additional 85 franc million in the building between 2005 and 2008.
By 2012, Jelmoli will have ploughed an additional 40 million franc
into a two-year expansion and remodelling project. The project
manager Hanspeter Grninger will not be able to see the project
through to completion and will be replaced in the spring of 2012
by former Grieder CEO Franco Savastano. The goal was to prepa-
Omega Bahnhofstrasse, Zurich
22
re the company for the future and allow for
transition from the premium to the luxury
products segment. The project took its cue
from department stores such as Rinascen-
te, Selfridges, Harrods, KaDeWe and Ober-
pollinger.
Whats up with Zurichs Manor de-
partment store?
As from 2016, there will no longer be a Ma-
nor department store on Zurichs Bahnhof-
strasse because the property owner, Swiss
Life, has been evaluating a new usage con-
cept for the past two years and has given
all of the buildings tenants except Apple
their walking papers. With aggregate annu-
al sales of only 105 franc million and annual
per square metre sales of only 9,900 franc,
rent amounting to more than 15 million
franc is simply prohibitive. Subdividing the
buildings 10,000 square metres of retail
space would presumably enable the pro-
perty to generate leases whose value far
exceeds 20 million franc. For comparison:
Manors neighbour and competitor Globus
registers sales in excess of 180 million
franc in 7,500 square metres of retail space
the equivalent of 24,000 franc per square
metre sales. If the property were not owned
by the Migros Group, the going rates would
generate more than 15 million franc a year
in rental income for the building.

Apple clocking in at 225,000 franc
per square metre sales
In June 2008, Apple was granted a building
permit to shopft the former Benetton bou-
tique and completed the project one year
later. In April 2009, the company opened
what was originally planned as its second
European Apple Store with 70 employees.
The store is Apples Swiss fagship store
and a veritable cash cow that informed
sources say registered sales of 95 milli-
on franc in 2010 for a growth rate of more
than 200 %. The stores per square metre
productivity, which is generated by more
than 400 employees, is more than 15 times
higher than that of the average retail store
in a comparable location. But the stores
business volume has outgrown its merely
420 square metres of retail space. For com-
parison: the Apple Store in Hamburg has
2,000 square metres of space. Nowadays
wed never open a store as small as the one
in Zurich, said an Apple manager.
Opening party Navyboot Bahnhofstrasse, Zurich
23
Ex Libris replaces Giga Music Company
A 300 square metre space where Musik Hug and Giga Music Com-
pany had been selling sheet music and instruments since the
spring of 2004 is now occupied by the top-performing branch of
the bookseller Ex Libris, which is a member of the Migros Group.
But it is highly unlikely that the landlord, Swiss Life, will extend
this lease, or that of the neighbouring Marionnaud or McDonalds,
beyond 2015.

Planet Hollywood in, Mango out
In 2000, Mango opened its 750 square metre Swiss fagship store
(which was still operated at the time by the franchisee Schild)
opposite to Ex Libris. The worlds third largest Mango store after
Barcelona and Paris at the time, the space has since been taken
over by Planet Hollywood. Sylvester Stallone attended the stores
opening, an event that was accompanied by abundant razzmatazz
and where Mr. Stallone also left his handprint. So many people
thronged to the event that tram service on Bahnhofstrasse had to
be suspended.

Esprit Bahnhofstrasse, Zurich
Jelmoli Bahnhofstrasse, Zurich
24
The mens clothing store Fein-Kaller
takes its fnal bow
For reasons of divorce, in 2006 the fourth-
generation owner of the mens clothing
retailer Fein-Kaller was forced to sell the
companys building at a choice Bahnhofst-
rasse location to a private Berlin investor.
Owing to high demand, the price for such a
property has risen to more than 70 million
franc over the past fve years.
Fein-Kaller shut down all of its stores in the
German- and Italian-speaking part of Swit-
zerland as at July 2011 and sold off all of
its stores. As at the date this report went to
press, it was unclear who would be moving
into their Bahnhofstrasse store, which has
been vacant for six months.
Manor Bahnhofstrasse, Zurich
Globus Usteristrasse/Pestalozziwiese, Zurich
25
H&M three stores on Bahnhofstrasse
The Swedish fashion retailer H&M took over the space in the Bea-
tenhof building that was long home to Messer Dolmetsch and was
then leased (most recently) to the accessory and watch retail chain
Fossil, and prior to that to Accessorize and Ex Libris. The property
was sold to UBS Fund Management in the late 1990s following di-
vestment of the fashion activities of the Moro-Nordmann family.

The Finck family a progressive rent
policy
Although the new owners of the two buil-
dings that are home to the Gtte Optik and
Yves Rocher stores could easily have quin-
tupled these tenants rent, it was important
to the family of German industrialist prop-
rietors to maintain the buildings tradition.
Thus the Gtte Optik eyewear store, which
has been at this location for two decades,
is now assured of at least another decade
of tenancy on Bahnhofstrasse.
Hotel St. Gotthard optimized ground
foor space
Cafe St. Gotthard on Bahnhofstrasse closed
its doors at the end of 2003. The Manz fami-
ly, which owns the property, optimized the
space occupied by the former cafe (whose
operation was no longer economically viab-
le) by leasing it to the mobile phone retailer
Mobilezone, the accessory retailer Six Shop,
and the young-fashion retail chain s.Oliver.
However, the s.Oliver franchisee was unable to meet the ambitious
objectives set by the company, whose brand was completely unk-
nown in Switzerland at the time. This development afforded H&M
the opportunity to open its third store on Bahnhofstrasse.
Apple Store iPad 2 launch Bahnhofstrasse, Zurich
H&M Bahnhofstrasse, Zurich
26
Swiss Life buys Caf Balthasars lease
Two other traditional businesses across from Hotel St. Gotthard
closed their doors in January 2011: the shoe store Pasito and the
adjoining Caf Balthazar. Pasito had been at its Bahnhofstrasse
location for 28 years, originally under the name Pedrino, and since
1999 Pasito. The cafe had likewise been in the same location for
around three decades and would have liked to remain there, ac-
cording to Pasito CEO Werner Aerni. But he was unable to afford
the rent, which had been approximately tripled, despite the fact
that the landlord, Swisslife, was somewhat accommodating con-
cerning the price. The Caf Balthazar lease was not up for renewal
for another two years, but Swisslife paid the cafe owner Michel P-
clard key money whose amount neither he nor Swisslife were wil-
ling to disclose. As is customary in such cases, it probably amoun-
ted to more than a million, says the newspaper Tagesanzeiger. The
space will be taken over in the spring of 2012 by the shoe retailer
Dosenbach.
Sammet Apotheke taken over by a retail chain after 123
years of independent operation
Founded in 1886 as Central Apotheke, sold to the Sammet family in
1919, and run by the Flhmann family since 1984, the fnal owner
of Sammet Apotheke was ultimately unable to refuse the purchase
price offered by GaleniCare (one of many offers received), in spring
2009 and sold the pharmacy right after the family that owned the
building sold it for 30 times the annual rent. After a lengthy renova-
tion phase, Amavita Apotheke reopened in spring 2011.
Leder Locher, Claires and Hotel Schweizerhof
After the Zurich bag and leather goods retailer Leder Locher closed
its doors in 2006, the owner of Hotel Schweizerhof put the space up
for rent so as to be able to obtain the then-going rate of 8,000 franc
per square metre per year, and the German womens fashion retail
chain, Bonita, was awarded the lease. In late December 2011, the
American fashion jewellery retailer Claires extended the lease on
the best of its 3,000 stores worldwide and will thus be able to con-
tinue registering sales in excess of 40 000 franc per square metre,
the highest registered by the company. In 2003, Claires acquired
more than 50 locations of the Bijoux One retail chain, including the
companys top performing stores.

Starbucks opens its 16th Zurich store
After more than three years of negotiations with LEntrecote res-
taurant and the private-sector owners of the property, Starbucks
celebrated the long-awaited opening of its 16th Zurich store (who-
se second foor is sublet to the travel agency Sta Travel) on Bahn-
hofstrasse next to McDonalds.
Rennweg, Kuttelgasse, Augustinergasse, Strehl- and Stor-
chengasse locations very much in demand
Rennweg is one of Zurichs most frequented streets, after Bahn-
hofstrasse. Thanks to roadtraffc reduction measures, the street
now boasts 30,000 passers-by daily during the week and up to
50,000 on Saturdays. Consequently, 16 new stores opened on
Rennweg over the past six years. With stores renting for 4,000
franc per square metre, Rennweg is an excellent location parallel
to Bahnhofstrasse
CBRE obtains 3 million in key money for former Fortis
Bank location
In the spring of 2011, Privatbank Wegelin went into operation in a 1
400 square metre space formerly leased by Fortis Bank (now BNP
Paribas) for an annual rent amounting to around 1.2 million franc.
The realtor CBRE, for which the property was an exclusive listing,
obtained 3 million franc in key money for BNP.
Bahnhofstrasse Zurich
27
Bckerei Kleiner bakery closes
Since late November 2011, the 70 square metre space on Kuttel-
gasse that was both the founding and fagship location of Bcke-
rei Kleiner bakery has been home to Lele Pyp shoe boutique, which
was established by the Brazil-born-and-raised siblings Stephanie,
Samantha and Bernardo Mller-Knab. The bakery was no longer
able to afford the rent, which had doubled. Across the way, the
shoe boutique LIdea now occupies the 35 square metre ground
foor space that was formerly home to Boutique Felice.
Bahnhofplatz Zurich
Rennweg Zurich
Top retail rents in
prime locations in Zurich*
CHF/sqm EUR/sqm
per year per month
Bahnofstrasse 10,256 643
Rennweg 4,400 276
Storchengasse 3,350 210
Limmatquai 3,320 208
Lwenstrasse 3,180 199
Niederdorfstrasse 3,100 194
Strehlgasse 2,850 179
Bellevue/Stadelhofen 2,200 138
Burlington to open a store on Rennweg in a year from
now
The German fashion retailer Burlington will be taking over the enti-
rety of the buildings retail space (120 square metres on the ground
foor, 80 in the basement) across the way from Hotel Widder, in a
building where Ovale, Big Secret, and Carat still have stores.
* 150 200 sqm retail space
28
Four new jewellery stores on Strehlgasse, Storchengasse
and Weinplatz
Sundrani Fine Jewellery, Sueos, Robert Vogelsang and Pomellato
each opened a store over the course of 2011. Karima Sundrani was
awarded the 100 square metre space of its predecessor, the jewel-
ler Max Affolter, who had maintained his studio at this location for
decades. Next door, Arlette Kiefer & Kaspar Regg opened its doors
in a space that had formerly sold Grob bathtubs. Across the way
Sueos, the establishment that took over from the mens outftter
Mettler, relinquished its unproftable store and focuses now solely
on its Lwenstrasse store, where Robert Vogelsang has now got-
Hotel Widder Rennweg, Zurich
New Burlington Location Rennweg, Zurich
ten fresh wind in its sails in a space that
extends over fve foors. On Weinplatz,
Naomi Boutique owner Hans-Peter Gch-
ter sold his lease for around half a million
Swiss francs to the family-internal suc-
cessor of the jeweller Zett-Meyer, Adrien
Bindella. Mr. Bindella is now operating
the 85 square metre Pomellato Boutique
as a franchisee.
400 million franc Madoff victim in-
vests in Boutique; Dolce & Gabbana
opens second store
The wealth manager Jakob Rauber was
in the Swiss media spotlight a couple of
years back by virtue of his fagship Auriga
funds having gone down the drain in the
wake of the Madoff meltdown. The two
funds affected were Auriga International
and Auriga Alternative Strategies. The
former, which held more than 400 milli-
on franc in client funds, had invested the
entirety of its capital in Bernard Madoff
instruments. Mr. Rauber took over the space in June 2011, where
he now operates Coup dil, a shoe boutique that features John
Galliano and Roberto Cavalli footwear in a 70 square metre space
that was formerly home to Spitzbarth jewellers. In October 2011, in
the Schipfe district, Trudie Gtz opened her second Dolce & Gab-
bana store opposite the city hall on Limmatquai.
Newcomers Christian Louboutin and Mulberry
In early December 2011, Christian Louboutin opened his frst store
in a German-speaking area on Whre, which is near Storchengasse
on the banks of the Limmat River. Mr. Louboutin and Boutique Ma-
29
nuele Jaquet negotiated a key-money deal and agreed to keep the
amount confdential. In January 2012, at a location just 30 metres
away on Storchengasse, the British bag and leather goods retai-
ler Mulberry will be taking over the split-level 150 square metre
Trois Pommes space. Trudie Gtz relinquished the space, two years
before the lease expired, to the Frankfurt-based property owner.
Three years earlier, the German high-end fashion house Escada
had been on the point of moving into the space, but then cancelled
the lease. On busy summer days, anywhere from 15,000 to 20,000
persons frequent this area, where rents have remained steady at
around 3,000 franc per square metre.
Emilio Pucci, Michael Kors, Herv Lger, Barbara Bui and
Victoria Beckham
Although these retailers have not got stores of their own in Zurich,
their products are available in the new Boutique Blooms opposite
Gucci on Poststrasse in a 100 square metre space where Tamedia
used to sell their magazines and newspapers. At the time this re-
port went to press, it had not been announced who will be taking
over the former Intercoiffeur space (150 square metres), which has
been vacant for more than a year.
Swiss Casinos gets the nod for a Zurich casino licence
The 12th June 2011 decision by the Eid-
genssische Spielbankenkommission
(ESBK) (Swiss casino commission) as to
which of the fve proposals for the hotly
contested class A concession for operati-
on of a Grand Casino in Zurich would get
the nod was awaited with baited breath. In
the event, ESBK opted for Swiss Casinos
Zurich AG, which will be operating a two-
foor casino with a rooftop restaurant on
Sihlstrasse in the former Ober department
store building. Thanks to the commissions
decision, Hans Ulrich Rihs, one of the three
founders of the hearing aid manufacturer
Sonova, has two causes for celebration. In
2010, he acquired a 98 % share in Swiss
Casinos Holding AG, which won the fran-
chise. Mr. Rihs intends to invest around 70
million franc in the casino in the run-up
to its opening in the fall of 2011 and has
budgeted up to 135 million franc in annual
gaming revenues.
Jewellers Sueos & Sundrani Strehlgasse, Zurich
Dolce & Gabbana Weinplatz, Zurich
30
Pomellato Weinplatz, Zurich
Tom Ford Storchengasse, Zurich
Increasing presence of retail chain stores on Nieder-
dorfstrasse
After three years of operation, Diesel decided to shutter its acces-
sory boutique, which was centrally located on Niederdorfstrasse
on the right bank of the Limmat between Confserie Schurter and
the fashion boutique Companys. The Geneva-based jewellery and
bag retailer Michel Jordi took over the 70 square metre space, whe-
re the store opened its doors in November 2011. In October 2011,
the Swedish fashion and sports retailer Peak Performance, which
is also a member of the IC Companys Group, held a gala event to
celebrate the opening of its 12th Swiss store, a 120 square metre
space at the former Kleiderhaus Central location; the glamorous
evening featured 300 cubic metres of artifcial snow. Diagonally
across the street, Burger King celebrated the opening of its frst
store on the right bank of the Limmat in an around 200 square met-
re space that extends from Niederdorfstrasse to Limmatquai. The
previous occupant, a bar known as Forecastbar that had become
unproftable, closed early last year.
Bernies falls victim to Vero Moda
Bernie Lehrer, the late founder of the high-end Zurich fashion
house Bernies, would probably be spinning in his grave had he ex-
perienced the dramatic events surrounding the company he esta-
blished in 1960. In April 2005, there were media reports that the
31
Christian Louboutin Schipfe, Zurich
Swiss Casino Standort Sihlstrasse, Zurich
company had been sold to the Mariella Burani Fashion Group. But
now, fve years down the road, Mr. Lehrer and his son were taken
into custody by Italian police on suspicion of obstructing bank-
ruptcy proceedings. This marked the beginning of the end for
Bernies. In the companys heyday, its 20 branches registered up-
ward of 20 million franc in sales. Only ten stores remain. Bernies
founding location, which is still owned by the Lehrer family, is now
home to Vero Moda; the new tenant in the former shoe store is the
accessories retailer Pieces (likewise a member of the Bestseller
Group), and the mens store on Niederdorfstrasse is now leased by
the young-fashion retailer Tom Tailor.
A cabaret repurposed as high-end boutique space
The renowned (and infamous) Le Cabaret has closed its doors, and
the lease will be taken over in the spring of 2012 by the Colombian
fashion boutique Studio F. One year before, Papeterie Waser relo-
cated to Oberdorf. The Swiss shoe retailer Passo per Passo took
over the 50 square metre space on Mhlegasse formerly leased
by the fashion boutique Splash. Following top to bottom renovati-
on, the venerable bar known as Haifschbar was able to reopen Le
Cabaret. The same building complex was also home to Brentschin-
kenhaus, which was founded in 1357 and whose name was chan-
ged to Schwarze Stiege. In the 1920s, the space was repurposed
as a movie theatre, Kino Radium, and is today home to an Italian
restaurant, Ristorante Da Vinci, and the adjacent Coiffeur Perfect
Hair beauty salon.
Vertigo shuts its doors; Changemaker opens; Zurichs
second Guess boutique opens
On Hirschenplatz the Vertigo business model, that was similar
to Amsterdams renowned supper clubs and was installed in the
former Kino Wellenberg movie theatre, which is in the hotel with
the same name, proved to be a fop. Having stood vacant for over a
year, the around 500 square metre space is now home to the young-
fashion retailer Box New Generation. Changemaker, which offers
fair-trade and eco-friendly household products, moved into a 120
square metre space on Marktgasse just after Christmas. Across
the way, the Zurich fashion company owner Sami Bollag took over
the former location of the bookseller Orell Fssli, where in March
2011, he opened Zurichs second Guess fashion boutique (after the
Glattzentrum branche) in a more than 500 square metre space.

32
Vapiano Rmistrasse, Zurich
Limmatquai Zurich
Scotch & Soda opens next to Vapiano
Scotch & Soda is not, as its name implies, a new gastronomic con-
cept but rather a Dutch fashion house which, in the spring of 2012,
will be opening its frst Swiss store on Rmistrasse, where it will
be sandwiched between the restaurants Kronenhalle and Vapia-
no.

33
Niederdorfstrasse Zurich
Former Bernies store Niederdorfstrasse, Zurich
34
35
36
04
Geneva a major focus for all jewellery
and watch retailers
Christmas lightning Rue du Rhne, Geneva
GENEVA, the capital of Switzerlands Geneva canton, has a high
percentage of foreign residents (47.6 %) and is second only to
Kreuzlingen in this regard. Numerous international organisations
such as the UN, CERN, IKRK, WHO, IAO, ISO, ITU, WIPO, WMO,
WOSM, WTO and UNHCR are headquartered in Geneva.
Geneva is also Switzerlands second largest fnancial centre, after
Zurich and followed by Lugano. For years now, Geneva, along with
Zurich, has been ranked as one of the worlds cities with the high-
est cost of living and the highest quality of life. The population of
greater Geneva is 780,000.
The worlds most desirable jewellery store location
With extremely high retail sales to retail purchasing power ratio,
the worlds highest purchasing power after Zurich, and a large
contingent of consumers from Middle Eastern cultures, Geneva
is an exceptionally appealing location for international jewellery
and watch retailers. Genevas appeal is also attributable to its af-
fnity for Anglo-Saxon culture and the citys multicultural popula-
tion, thanks in large measure to the presence of UN and UNESCO
offces. Annual rents go as high as 8,000 franc per square metre
on Rue du Rhne and Rue du March. Rues Basses features some
80,000 passers-by daily. Rue du Rhne has 108 retail stores with
an exceptionally high multibranch ratio of 94 %.
Consumer demand at record levels
The watch and jewellery companies that have opted to open bran-
ches in Geneva over the years include the following at the top of
Rue du Rhne: Boucheron, Audemars, Piguet, Panerei, Graff Dia-
monds, Hublot, Dior Horlogerie, Tag Heuer, Montblanc and Faberg.
Other stores of long standing, which are arrayed in the sequence
indicated, include the following: Jaeger Le Coultre, IWC Schaffhau-
sen, Roger Dubois, Avakian, Chaumet, Bulgari, Blancpain, Breguet,
Piaget, Jahan, Adler, Chopard, De Grisogono, Chatila, Omega, Van
der Bauwede, Cartier, Gbelin, Kerdanian, Les Ambassadeurs, Elie
Chatila, Enigma, Benot de Gorski, Patek Philippe, Bucherer, Vache-
ron Constantin, Vhernier, Rolex, Tudor, Collet, Bijouterie Zbinden,
Airbijoux and Bijoux Burma to mention only the most prominent
brands.
Not a new jeweller - but Reuge
Opening on Rue du Rhne, next to Louis Vuitton, Omega and Cho-
pard, the newest boutique showcases a range of traditional and
contemporary music boxes, joining addresses in Hong Kong, Bei-
jing, Singapore, Doha, and New York.
The 68-square-metre boutique is an exhibition space of well known
traditional models and contemporary pieces in modern materials,
and also provides a space to explore an increasingly important
business stream: bespoke corporate products.
37
Louis Vuitton & Gbelin Rue du Rhne, Geneva
Bulgari Rue du Rhne, Geneva
Zenith opens its second store in the world in Geneva
On 19 December 2011, a boutique exclusively dedicated to watches
from the Swiss watch manufacturer Zenith has opened on one of
Genevas busiest streets, Rue du Rhne.

This legendary frm is still located in the exact same spot where
its founder, Georges Favre-Jacot, frst established it in 1865. The
boutique is the second in the world (after Hong Kong) to feature
the new design which Zenith has developed for its points of sales.
Already from the outside, it stands out thanks to its geometrical
storefront studded with glass panes and framed by two large stone
columns.
38
Zenith Rue du Rhne, Geneva
Les Ambassadeurs Rue du Rhne, Geneva
Highest tenancy churn rate on Rue du Rhne
In 2008, soon after the Wertheimer family, who owns Chanel,
bought the property where their boutique, along with that of Her-
ms, was under lease, the Dumas familys (owner of Herms) lease
was terminated. Promptly, the Dumas family purchased the two
buildings to the left and terminated the lease of the Les Ambassa-
deurs jewellery store. The investment in the property amounted to
a record of more than 75 million franc. In December 2011, Herms
Maison celebrated the opening of its 480 square metre space after
more than 12 months of shopftting. The jewellery and watch retai-
ler Les Ambassadeurs paid key money amounting to several million
Swiss francs to take over the lease on the 600 square metre space
formerly leased by the fashion house Francesco Smalto. In August
2011, Fendi also celebrated the opening of its new store after nearly
a year of shopftting.
Brunello Cucinelli and Moncler open new stores in
Geneva
Across from the new Herms Maison on Rue Robert-Card, Brunello
Cucinelli opened its second Swiss store in November 2011, a 250
square metre space that was previously leased to a local Gianfranco
Ferr franchisee. The opening of Cucinellis Zurich fagship store is
slated for the summer of 2012. The down-products retailer Moncler
made its Rue du Rhne debut in November 2011 between the Botte-
ga Veneta and Churchs boutiques. After nearly two years of negoti-
ations with the Italian counterparties, the local retailers Emilia Blu
and Swiss Kubik concluded a lease for a 150 square metre space.

39
Brunello Cucinelli, Rue Robert-Card, Geneva
Moncler Rue du Rhne, Geneva
Hugo Boss and Bally swap spaces
Five years ago, Hugo Boss took over the Zurich and Geneva stores
that were being leased by the Bruno Magli franchisee. Inasmuch as
the space in the Rue du Rhne store next to Cline was shopftted
solely for womens fashions, a swap with the Bally store on Rue du
March was a welcome transaction, particularly since pedestrian
traffc there is ten times higher and the space twice as large com-
pared to Rue du Rhne.
Swiss Life leases BSI property after two years of vacancy
One of the most delightful aspects of the fashion house that was
founded by Lucerner Thomas Meyer is the enormous popularity he
has gained among his young audience thanks to the spectacular
events he sponsors. The trendy Spanish brand will be opening an
around 1,000 square metre store in the former BSI property on Rue
de Rive in late January 2012, the companys second Swiss store,
which will be located across from Rue de la Tour Matresse, whe-
re Hackett London, Tommy Hilfger Kids and other brands have
stores.
40
Bally Rue du Rhne, Geneva
Bon Genie Rue du March, Geneva
Ladure in the new Bon Gnie department store
The franchisee of Ladure (a Sprngli competitor) opened its se-
cond Geneva store in the newly renovated high-end department
store Bon Gnie. The Brunschwig family, that owns Bon Gnie,
purchased the adjacent property a few years back from Valora
Pensionskasse, with the goal of adding more than 5,000 square
metres of retail space to its fagship store so as to accommodate
high-calibre tenants at the entrance to Rue du March, as well as
additional shop-in-shop stores such as Chanel and Gucci.
Future of former Payot space uncertain
It has yet to be announced who will be taking over the Rue du Mar-
ch space formerly occupied by the French book store Payot, as
well as the small boutiques adjacent to the new Hugo Boss store.
Although a German fashion house had signed a preliminary con-
tract for this fagship store, it withdrew from the negotiations as a
result of the high rent demanded by the landlord. What is certain,
however, is that Benetton will be the only one of the six stores that
is allowed to stay on.
RailCity Geneva (Cornavin)
During this second phase extending from August 2011 to Decem-
ber 2013, the railroad station building will be gutted to make way
for a completely new interior. The train stations historic facade will
be retained. The projects costs are an estimated 110 million franc.
41
SBB Cornavin, Geneva
42
05
Basel with Switzerlands largest Apple Store
.
Planned Apple store Freie Strasse, Basel
Freie Strasse Basel
BASEL is Switzerlands third largest city, after Zurich and Geneva.
Basel has a population of around 170,000, while the population of
the greater area of Basel, known as Trinationale Agglomeration Ba-
sel, numbers around 830,000.
Shopping excursions to Lrrach and Colmar have grown more
appealing thanks to the weakening of the euro in recent months.
Relative to brand-product prices in Switzerland, those in Germany
are substantially lower for the same products, in particular owing
to the VAT refund program. As a result, Swiss retailers have been
offering discounts for months now, mostly ranging from 10 to 20 %
of the original price.
Switzerland largest Apple store
Following on the heels of Wallisellen, Zurich and Geneva, Basel
will soon be the fourth Swiss city where an Apple store has come
to town. The store is scheduled to open in early 2012. With 900
square metres of retail space spread across three levels, the Ba-
sel Apple store will be far and away Switzerlands largest branche.
This Swiss Apple fagship store will be located on Freie Strasse,
43
Hugo Boss Gerbergasse, Basel
Metro Boutiques Gerbergasse, Basel
the citys priciest retail-rent area, opposite
the Bucherer jewellery store and the young-
fashion boutique Zara. The Apple store loca-
tion was formerly leased by Botty shoe store,
which moved out in September 2011 owing to
a high rent increase and received reasonable
compensation from the new Dutch owner of
the property. This compensation enabled Bot-
ty to fnance the shopftting of its new location
on Gerbergasse.
Vivarte Group expanding
In May 2011, the high-end French footwear
company Minelli opened an around 100 square
metre boutique on the former premises of Va-
lora, which is owned by kKiosk, and paid more
than half a million Swiss francs in key money
to take over the lease. One year earlier, Minelli
took over the lease of Naf Naf, a 300 square
metre fashion store operated by a competi-
tor, Pimkie, for which Minelli paid a somewhat
higher amount of key money.
Gerbergasse a signifcant number of new players
In April 2011, the Swiss retailer Metro Boutiques opened a store
on Gerbergasse only a few hundred metres away from the Botty
boutique, in the former space of the fashion retailer Sasch, which
Metro enlarged from 900 to 1,500 square metres.
Next door, Pasito Fricker opened its new 220 square metre store in
the former Unica store. Hugo Boss bought the lease of the Street
One franchisee, which relinquished the lease after two years of
operation after having acquired it from Yendi. A gala opening of
the 400 square metres space was held on 21st September, 2011
with various luminaries in attendance. Pasito Fricker took over
the space of its competitor Botty a few steps down the street, and
almost next door a new around 300 square metre Mammut store
opened in November 2011. To the left, the Swiss shoe store sold its
44
Brauner Mutz Barfsserplatz, Basel
lease to Schiggi Miggi boutique, while next door the Six Shop ac-
cessory store ceded its lease to the multibrand store Impressione
Fashion, and across the way, Yves Rocher took over the 70 square
metre former Kobra Boutique in September 2011. A year earlier,
Tom Bergstein opened his outdoor clothing store at the former
Bossert Gravuren location.
Zum Braunen Mutz restaurant to become a brasserie
Upcoming remodelling and the fact that the lease was set to ex-
pire on 30th September, 2010 prompted the landlord, PSP Swiss
Property, to rethink the future usage modalities for this Basel key
property. The involved parties agreed that the property should re-
main a restaurant. Having received numerous applications, PSP
opted for Candrian Catering AG, which was already a tenant at a
number of PSP properties. According to PSP, they were won over
by the brasserie concept. The goal was to devise a concept that
was in keeping with the architecture, atmosphere and history of
the establishment. Candrian Catering will be leasing an around
520 square metre restaurant, whose dining and work areas will be
completely redone.
Steinenvorstadt enter Burger King and Molino, exit
Cindys Diner
Cindys Diner on Steinenvorstadt closed in March 2011. March
International, which is a division of the Mvenpick Group and
which operates Cindys Diner and other restaurants, said that the
unit was being closed because its lease had expired. But as the
propertys management company indicated, the lease could have
been renewed without any problem. The Cindys Diner concept
is, in more ways than one, the brainchild of Mvenpicks founder
Ueli Prager, who in 1962 started Silberkugel, Switzerlands frst
fast food chain. According to company legend, Mr. Pragers young
daughter asked if she too could name a concept, whereupon Ms.
Trager gave her dads second fast food brainchild the name Cindy
because she was a big Cinderella fan. The frst Cindys Diner open-
ed in 1971 in Spreitenbach but no longer exists.
Across the way, on Three Kings Day in 2011 and 18 months after
the 17th century building on the site had been torn down, a Burger
45
Steinenvorstadt Basel
King that was being operated as a franchise by the building ow-
ner opened for business. Seven doors down the street to the right,
Switzerlands largest Italian restaurant chain, Molino, took over
the 260 square metre former premises of Restaurant Pomodoro
and will be opening a new restaurant there in March 2012.
Schuhparadies takes over a games library; a
manufacturers store replaces a retail chain
In keeping with its ongoing expansion program, the former Swiss
company Schuhparadies (also a member of the Vivarte Group) took
over the former Domino games library (340 square metres) in the
spring of 2011 when the current tenants lease expired. Across the
way, a Metro Boutiques store opened with the goal of testing out
the companys innovative accessories concept. The young-fashion
boutique Bench held on for two years in the second to last building
on Steinenvorstadt, but ultimately went out of business for lack of
pedestrian traffc and ceded the 220 square metre space to a Le
Mouton store.

46
06
Bern cell phones and womens wear supplant
an organic supermarket
Triumph Marktgasse, Bern
Marktgasse Bern
BERNS old town, which was built on chalk cliffs, has been a
UNESCO World Cultural Heritage Site since 1983. Bern is the ca-
pital of Switzerland, and its metropolitan area has a population of
around 350,000.
Naf Naf took over Yendis 175 square metre space on Marktgas-
se (the lease had expired), next door to the companys Spanish
competitor Mango. Across the street, the undergarment retailer
Triumph took over Bernies 200 square metre space in November
2011. The lingerie retailer and Gaydoul Group member Fogal took
over the Roeckl glove boutique, thus doubled its retail space to
around 70 square metres.
edc by Esprit supplanted by Vero Moda
A few doors down on the right, having failed to meet its sales ob-
jectives, edc by Esprit sold the lease on its 670 square metre space
to Bestseller after three years of operation, for which Esprit recei-
ved key money. The building was renovated beforehand from top
47
Zytglogge Bern
Vatter Brenplatz, Bern
to bottom by the owner of the building, the former
operator of Confserie Meyer. Owing to an appeal
that had been made by an animal protection asso-
ciation, the renovation was delayed for a couple of
months, which entailed elevated construction costs
and additional rent costs, thus preventing Esprit
from starting the project as wished.
Beginning of the end for Fein-Kaller
A year earlier, the young-fashion multibrand retai-
ler Metro Boutiques took over a space at the end
of Marktgasse occupied by the Swiss mens fashi-
on retail chain Fein-Kaller (which had already been
liquidated) for 1 million franc in key money. Relin-
quishment of its Bern branch marked the frst step
in the gradual dismantling of the branch network of
a company that was at one time Switzerlands lea-
ding mens outftter.
Cell phones and womens fashions supplant
an organic supermarket
Sustainability, lease modalities, and sector suitability were defned
as the main criteria for selecting a successor to Switzerlands frst
organic supermarket at Spitalgasse. Thomas Vatter closed the 430
square metre store because, he said, it was no longer proftable
despite the fact that he owned the building. It is now clear what
Mr. Vatter meant by modalities: he not only required that 3 mil-
lion franc in key money be folded into the rent, but also decided
to charge 1.2 million franc in annual rent. Orange found a suitable
subtenant in Gerry Weber to assure the 10 years lease contract.
At the time this report went to press, it was unclear what was to
become of the former Orange space across the street.
48
Von-Werdt-Passage Bern
Orell Fssli leaves the feld to Thalia
Orell Fssli has given up the 400 square metres it was subletting
in the downtown Bern music store Krompholz at Spitalgasse. The
space was taken over by the Swedish multibrand fashion retai-
ler Companys, whose fagship store is already up and running on
Marktgasse. However, the rent here is only half the amount Vero
Moda pays on Marktgasse.
Cha ch comes to Von Werdt Passage
In November 2011, the former Jeckling music store was flled with
the aromas of Thai cuisine, which is available in the Art Nouveau-
style, erstwhile Splendid movie theatre on Von Werdt Passage. Mi-
gros Aares Cha ch Thai restaurant took over the space that was
leased by the Zurich music store Jecklin. Migros not only rented
out the former Jecklin store but also part of the second foor, whe-
re the Stauffacher bookstore now sells CDs.

49
07
Lausanne second only to Zurich when it
comes to number of shopping streets
.
Esprit Rue de Bourg, Lausanne
Navyboot Rue de Bourg, Lausanne
Located in the French-speaking part of Switzerland (Romandie)
at Lake Geneva, Lausanne, along with Zurich, Geneva, Basel and
Bern, is one of Switzerlands largest cities. The Geneva-Lausanne
metropolitan area has 1.2 million inhabitants, 325,000 of whom
live in greater Lausanne.
Rue de Bourg : Navyboot, Longchamp, etc.
After almost a year of shopftting, the Swiss glove and bag retai-
ler Navyboot will be opening its store at the end of Rue du Bourg,
across from Herms and Louis Vuitton. The space was formally
occupied by the Reymond stationery store, which did business
in the 300 square metre space for over a century; but times have
changed and this sector is clearly outmoded. During the frst half
of 2011, Esprit took over the 60 square metre ground foor space of
its neighbour Canton Pelze, thus allowing Esprit to gain an additio-
nal eight metres of storefront. Next door, the French young-fashion
retailer Sandro took over Buckles & Belts, thus likewise increasing
its storefront size.
50
Swisscom & Mvenpick Rue Haldimand, Lausanne
Bershka Rue St. Franois, Lausanne
In the summer of 2011, family-owned Longchamp, whose bags
are priced one price category lower than those of Navyboot, took
over the spaces formally occupied by Mango and Massimo Dutti,
amounting to a total of 80 square metres.
Second Swiss Bershka store opens
In August 2011, the young-fashion retailer Bershka (likewise a
member of the Inditext Group) took over the more than 600 square
metres Schfer Sport store between Zara and Massimo Dutti on
Rue Saint-Franois. The Schfer family had been operating this
sporting goods store for 80 years at this location. The companys
subsidiary, Fogal, has taken over the former Navyboot store on Rue
Saint-Franois next to Bally. Four doors down, Ochsner Shoes is
now leasing the former La Grange store, while Chicore is leasing
the former Ochnser space that is sandwiched between Ochsner
Shoes and Benetton.
Very much in demand retail space on Rue Haldimand,
Rue Pichard and Rue Saint Laurent
At the intersection with Place Bel-Air, Vila (a member of the Best-
seller Group) opened a store in the summer of 2011 and obtained
the lease on the 70 square metre space by offering a considerab-
ly higher rent than its then-current tenant Aigle. Right across the
street, Mvenpick Ice Cream garnered the Caf Aux Pierrots lease,
while next door the French bakery chain Paul and the successor
establishment Manuel Exploitations both closed within a two year
period. Swisscom has been leasing the 150 square metre space
since summer 2011.

The Nike franchisee on Rue Pichard decided to switch to a peak-
performance store concept. Next door, Chicore took over the ap-
proximately 400 square metre Sasch store, where it is now pur-
veying its new Famous concept. Benetton-group member Sisley
recently opened a branch in the former Bata store, which now
carries Guess accessories. The store, which is run by Sandro Ma-
rangoni of Benegozi SA as a franchise, only carries accessories,
shoes, jewellery and watches. Even Sami Bollag was on hand for
the stores gala opening in September 2011.
The space shared by Marionnaud and Mister Minit on Rue Saint
Laurent was too small for both retailers. The shoe store Passo per
Passo frst took over the Marionnaud portion of the store, and then
the Mister Minit portion as well.
Annual per square metre rents in Lausanne range from 1,000 franc
on Rue Pichard to 4,500 franc on Rue de Bourg. The citys most fre-
quented street is Rue Haldimand with 60,000 pedestrians daily.
51
08
Winterthurs businesses hurt by
the strong Swiss franc
.
Rendering Bahnhofplatz, Winterthur
With a population of 100,000, Winterthur is Switzerlands sixth lar-
gest city and Zurich cantons second largest. The economy of this
erstwhile industrial city is today driven by the service, culture and
leisure/recreational sectors, and the city houses also 16 museums.
Winterthurs main train station has the third largest train and pas-
senger rates in Switzerland, and is only 15 kilometres northwest of
Zurichs airport. Winterthurs economy has been almost as hard hit
by the strong Swiss franc as the economies of Basel and Schaff-
hausen. The citys proximity to the German border and Lago mall in
Constance is giving many retailers sleepless nights.
Zara comes to Winterthur
Archhfe mall, which will extend from Technikumstrasse to the
main train station and is slated to open in March 2013, will be a
15,000 square metre mall featuring 40 stores and restaurants. The
Spanish fashion retail chain Zara will be the malls anchor store,
with around 1,500 square metres of space. Archhfe will cost bet-
ween 150 and 200 million franc to build.
52
Arch-Hfe Winterthur
Untertor Winterthur
53
Marktgasse Winterthur
Tenancy churn in Untertor
Tally Weijl plans to take over the 360 square metre space formerly
leased by the electronics store Expert at Untertor. Bro Schoch
next door subdivided its space and sublet half of the ground foor
to Sunrise after Letec, which had been subletting around 100
square metres in the rear portion of the space, moved out. The only
new tenants over the years have been Geox and Street One, and all
of the original tenants have remained.
Apple has no immediate plans to open a store in
Winterthur
The Blue Dog stores lease with the PKZ Group for Mango and PKZ
was not renewed. Letec, of which Dataquest owns 50 %, opened
a Premium Reseller Apple Store in this space in April 2011. Thus
Apple has no immediate plans to open an Apple Store in Winter-
thur.
Tenancy churn in Untertor
The Metzgerei Hotz butcher and the Bckerei Lyner bakery took
over the former Metzgerei Bell butcher shop. Mobilezone is now
leasing the former Nile store. Geox took over the enlarged Yves
Rocher Store. Christ took over Lauener, Street One opened in the
fromer over American Drugstore, and Bonita bought the lease of
Optiker Zwicker.
Starbucks fnds what it is looking for, after a ten years
search
It took Starbucks ten years to fnd the right location and conclude
a lease for it. Starbucks will presumably be able to open its doors
by the end of 2012 on the 400 square metre former premises of
Stella del Centro restaurant on Marktgasse. Starbucks will be
sharing the building with the Chiquita juice bar and the fast-food
restaurant Subway.
Metro Boutiques to open after a lengthy hiatus for
remodelling
The principle shareholder of Metro Boutiques purchased the buil-
ding from Charles Vgele at Marktgasse. Following more than a year
of remodelling, a gala opening was held for the 1,500 square metre
space. There was also tenancy churn in the Progres-building, whe-
re Jack & Jones, a young-fashion concept of the Bestseller Group,
offers a product range similar to the one of Metro Boutiques.
The highest annual rents amounting to around 4,000 franc per
square metre have been registered in Untertor, where more than
50,000 persons daily frequent Bahnhofplatz going toward Markt-
gasse.
54
Warenhaus department store at the prime location constituted at
the intersection of Multergasse, Marktgasse and Spisergasse.
The space is only now being optimized, and the rent, with Sunrise
as a subtenant, has been substantially reduced.
A look back at the past fve years on Multergasse
Ochsner Sport recently took over the store formerly occupied by
Esprit, which expanded its presence by leasing the Bata and Tally
Weijl space, which had become available. Metro Boutiques took
over the former ABM space from C&A. Swarovski is now located in
the former Navyboot store, while Bonita can now be found at the
location of the former Swarovski and Swatch franchisee.
Marc OPolo debuts on Spisergasse
The owner of the electronics store Scheibling decided against re-
newing its lease because the new rent was unattainable. Thus did
the fashion city of St. Gallen acquire a new fashion attraction in
the guise of Mode Weber, which in late August opened the regions
frst Marc OPolo store in an around 150 square metre space.
Benci Brothers take over Latzel Mode lease
In the view of Alfred Day, St. Galler Boutique at the corner of Markt-
gasse and Neugasse was the next takeover target for the two for-
mer Navyboot owners. In February 2011, the 240 square metre
space was ceded to Alfred Day AG for around 1 million franc in key
money an amount justifed by the fact that the rent in this St.
Gallen property was only 120 000 franc.
The highest rent on Multergasse, Switzerlands shortest top-loca-
tion shopping street, is around 4,000 franc per square metre a year.
Up to 40,000 persons frequent this street daily.
09
St. Gallen, the new generation makes an
important decision on Multergasse
.
Multergasse St. Gallen
ST. GALLEN has a population of 72,000. At 700 metres above sea le-
vel, it displays one of the higher elevations among Swiss cities and
is also the largest city in the Ostschweiz region. The population of
greater St. Gallen is around 150,000.
The new generation makes an important decision on
Multergasse
In September 2011, the Jack & Jones franchisee celebrated the
opening of its store following a long hiatus for renovation of the
entire property on Multergasse. Three generations of Becks have
operated Bckerei Konditorei Caf Beck on Multergasse since
1906. The fourth-generation owner decided to sell the building to
a Zug-based private investor, and the cafe recently relocated to a
choice location on Webergasse.
Triumph will open a 110 square metre space in 2012 next door to
H&M.
Multergasse Apotheke reborn as an Amativa pharmacy on
Poststrasse
The rent increase being prohibitive for the owner of the Multergas-
se Apotheke pharmacy, the owner decided to relinquish this prime
downtown location and relocate. The new tenant opened an Ecco
shoe store in the 85 square metre ground foor space, the ffth
Swiss store for the Danish company.
Sunrise lends Rsslitor Bcher bookstore a helping hand
Times are tough for booksellers everywhere, and St. Gallen is no
exception. Three years ago, Orell Fssli took the bold step of ren-
ting the 2,000 square metre space formerly occupied by the Manor
55
Verwaltung Mode Bayard Group . Neuengass-Passage 2 . Postfach . 3001 Bern
Telefon 031 320 18 18 . Fax 031 312 16 55 . info@fashion-ch.ch . www.fashion-ch.ch
Sie nden uns an folgenden Standorten
accepted
bayard Visp, Sierre . Sion . ehrbar Biel . Brgg . esprit Bern RailCity . Collombey . Langendorf . Lyss .
Martigny . Nos . Nyon . Reinach . Sierre . Sion . Solothurn . krause Reinach . Uster Im Uschter 77 . Zrich
Shopville . Sihlcity . Stauffacher . Zug . mix Brig . Interlaken . Visp . street one Bern RailCity . Biel . Brig
Der Online Shop
56
10
Lucerne, Bucherer the worlds top watch
boutique
.
LUCERNE is the Zentralschweiz regions premier economic and
cultural centre, as well as its most populous city. The worlds ol-
dest covered wooden bridge, Kapellbrcke, with the Wasserturm
water tower and Spreuerbrcke bridge, link the old and new parts
of town. The fact that Lucerne is situated between Lake Lucerne
and Mt Pilatus/Mt Rigi renders the city particularly picturesque
and has made Lucerne a magnet for foreigners and a tourist centre
as far back as 1840. The population of greater Lucerne is around
205,000, and around 59,000 persons reside in Lucerne proper.
Watches a true phenomenon
Lucerne is planning to transform Flanierzone Grendel (Grendel
pedestrian zone) into a Walk of Fame for Watches that planners
hope (a) will become a new calling card for Lucerne; (b) will attract
watch enthusiasts from the four corners of the globe; and (c) will in
particular heighten the appeal of Lucernes old town.
The 2,5 franc million project is being fnanced by the 50 largest
Swiss watch companies, each of which will contribute 50,000
franc. In exchange, the companies will obtain a platform thanks
to the Grendel pedestrian zone facelift, which will also boost their
prestige. The project was designed by fve students from Hoch-
schule Lucerne (Lucerne University of Applied Sciences and Arts).
Bucherer the worlds top watch boutique
The third-generation owners of Bucherer reportedly register
around 120 million franc in annual sales at their Schwanenplatz
location. It is no wonder that with more than 13,000 busses an-
nually bringing tourists from around the world to Schwanenplatz
at 4 p.m. each day, so that their passengers can purchase a luxury
watch or cuckoo clock at Bucherer, Gbelin etc., Cavena AG pays
the tourist-bus drivers to bring their passengers right to this watch
Mecca. In the event a tourist takes it into his or her head to venture
into a watch store on Lwenplatz instead, the tour guide immedia-
tely tells the errant tourist that this is prohibited.
On Grendel, Omega took over the entire approximately 150 square
foot ground foor space in the Lucerneer Kantonalbank building
(the right-hand neighbour of Bucherer), after having leased a por-
tion of Ballys ground foor space.
Lucerne
57
Jaeger Le Coultre joins forces with Bucherer
Apart from Omega, the Bucherer building is also home to the watch retailer
Jaeger Le Coultre (a member of the Richemont Group), a strategy aimed at
leaving more space open for additional retailers at the fagship store. Having
been open for just over a year, the hearing aid retailer Neuroth received a
generous amount of key money for vacating its store, and prior to this paid a
substantially lower amount for the Bikini & Snow fashion show.
Vacheron Constantin forges an alliance with Embassy
Vacheron Constantin has decided to open its next Swiss boutique in Lucerne,
making this the companys third location in Switzerland in addition to the
two in Geneva. The new boutique will open in early 2012 under the manage-
ment of the watch retailer Embassy. Vacheron Constantin (founded in 1755)
is the oldest member of the Richemont Group.
Hublot joints forces with Gbelin
The sixth-generation owner of the Swiss jewellery store Gbelin took over
the former premises of the Fein-Kaller boutique on Schwanenplatz. The new,
around 300 square metre store is scheduled to open in the spring of 2012.
A Hublot boutique a joint venture with Gbelin is scheduled to open in
the summer of 2012, in the adjacent store in the same building; this store
originally opened in 1998.
Hertensteinstrasse Lucernes most coveted retail location
As there are no storefront vacancies on Weggisgasse and little or no tenan-
cy churn is in the cards here, numerous retailers are opting for locations at
the top of Hertensteinstrasse. For example, Sami Bollag opened his Guess
boutique here in September 2011 in a somewhat more than 200 square met-
re space with a storefront of around 15 metres; the location counts as the
Guess fagship store for the Zentralschweiz region. The previous tenant was
Vonarburg-based Collection of Brands. At almost the same time and right
Schwanenplatz Lucerne
Bucherer Schwanenplatz, Lucerne
58
Jeager-LeCoultre Grendel, Lucerne
across the street, Ecco Shoes took over the Athena clothing bou-
tique (which specialises in large sizes) next to Papeterie Bookbin-
ders stationers. The Bestseller Group opened its boutique in an 80
square metre space on Hertensteinstrase across from Chicore
and Ex Libris.
Gifts replaced by Kiehls organic cosmetics
The Casagrande gift shop, the former left-hand neighbour of the
soap retailer Lush, has been replaced by the organic-cosmetics
store Kiehls, which like The Body Shop is a member of the LOreal
Group. The landlord, who was also the proprietor of Casagrande,
remodelled the property in such a way that the 35 square metre
space now makes an extremely inviting impression. Prior to this,
Sunrise signed a ten years lease for a 55 square metre space in the
same building, next door to Kiehls.
Intimissimi opens its frst store in the German-speaking
part of Switzerland
Having opened four stores in Ticino, the Calzedonia Group has now
opened its frst store in the German-speaking part of Switzerland,
on Hertensteinstrasse, for its lingerie line Intimissimi. Located op-
posite Charles Vgele, the new 50 square metre Intimissimi store
took over from Valleverde.
Weggisgasse and Kapellgasse little tenancy churn in the
offng
The only change in the new Grnicher boutique on Weggisgasse is
the establishments name; but the store still has the same owners.
Bucherer Schwanenplatz, Lucerne
59
Hertensteinstrasse Lucerne
Weggisgasse Lucerne
Weggisgasse, which counts as Lucernes most desi-
rable and best frequented shopping street, has seen
the opening of a Benetton and Benetton Kids store,
as well as Bonita, Fielmann, Fossil and MarcCain
boutiques over the years. The newcomers on Kapell-
gasse over the years have been Postfnance, Sherpa
Outdoor, Apple Dataquest and Thomas Sabo.
Greater tenancy churn on Hirschenplatz,
Weinmarkt, Kramgasse and Kornmarktgasse
On Hirschenplatz, Companys decided to cede its lea-
se on the 100 square metre former Vero Moda store to
the shirt retailer Van Laack. On Weinmarkt, the fran-
chisee converted the former Levis store into an in-
store multibrand store. Next door is the 100 square
metre space occupied by Silk & Cotton that was for-
merly the home of Mephisto, which was operated by
Imgrth.
Jeans in, Lingerie out
At Kornmarkt, Levis leased the around 200 square
metre former Palmers boutique, operated by the Aus-
trian lingerie retailer of the same name, which deci-
ded to abandon its Swiss operations after only three
years in the spring of 2011.
Rents range up to 5,500 franc per square metre a year
for Lucernes choicest retail locations. Pedestrian
traffc is particularly heavy on Grendel and on the path leading to Weggisgasse
on weekday afternoons, when hordes of tourists come to Lucerne. Up to 70,000
visitors a day have been observed here on peak days.
60
Gianola, the complex will be built on the site of the former Palace
Hotel, where reportedly a Giorgio Armani boutique will be taking
up residence. The Belle Epoque facade of the hotel, which burned
down and has been closed since 1969, has been retained thus far.
Upon its opening in the mid 19th century, the Palace Hotel was the
only luxury accommodation between Lucerne and Milan.
Gucci has no immediate plans to open a store in Lugano
tenancy churn on via Nassa
Rumours to the contrary, Gucci apparently has no immediate plans
to open a store in Lugano, for reasons of currency differences. The
company had considered a number of locations on via Nassa in
recent years. Next door to Bucherer and across the way from Bul-
gari, in the summer of 2011, Altalena SA took over the more than
100 square metre former Fein-Kaller space for its Viva shoe bou-
tique. Etiqueta Negra, the successor to Bernies that opened as a
franchise of Bernies board chairman, lasted less than a year. The
chairman ceded the lease on the 55 square metre space to the
franchisee of the French fashion house Maje for a moderate sum
relative to the annual rent, which was only 66,000 franc.
11
Lugano, small but oh so comely
.
Via Nassa Lugano
LUGANO has been classifed as a metropolitan region of Ticino
by the Swiss Federal Statistical Offce, and is now classifed as
part of the multipolar urban agglomeration system. This system
encompasses a number of urban areas in Ticino and Lombardy,
with a total population of 500,000. The Como-Chiasso-Mendrisio
conurbation of greater Milan (Grande Milano) has a population of
around 7.5 million. Downtown Milan is only around an hour away
from Lugano by car or train. Having undergone extremely rapid de-
velopment over the past two decades, Lugano is now Switzerlands
third largest fnancial centre, after Zurich and Geneva, and has a
population of around 59,000. The population of metropolitan Luga-
no is around 145,000.
LAC the citys new calling card
The centre for contemporary art and culture known as Lugano Arti
Contemporanee (LAC) that is slated to open in 2013 is bound to
raise Luganos profle throughout Europe and beyond. LAC, which is
modelled on Lucernes KKL, will contain a theatre, galleries, a con-
cert hall, stores, restaurants and an underground parking garage.
The city of Lugano is investing just under 200 million franc in what
is hoped will become the citys new fgurehead. The site cost CHF
30 million and construction will run up to 169 million franc. In addi-
tion, private investors will be contributing an additional 100 million
franc for offce space and 30 luxury apartments. Designed by Ivano
61
Hotel Palace, Lugano
Via Nassa Lugano
Farmacia Bianco still vacant
As at the date this report went to press, a new tenant had yet to
be announced for the three-level 250 square metre former Farma-
cia Bianco, where the rent is 2,000 franc per square metre. Thus
the annual rent for the third foor alone would amount to 200,000
franc, if all of the spaces are weighted equally. Assuming that two-
thirds of sales are generated on the ground foor, this would equate
to a rent in excess of 4,100 franc per square metre a year.
Merkur Confserien takes over LAltro store
LAltro ceded its lease on its split-level 170 square metre space to
Merkur Confserie for a substantial sum. The store is situated in
one of Luganos choicest retail locations, next door to the Manor
department store on Piazza Dante.
62
since September 2011 Esprit has been operating in partnership
with Starbucks. Starbucks and Esprit joint ventures are a rarity in
Europe, however.
Bahnhofstrasse more in demand than ever before
The lease on the Biel-based multibrand retailers Bijoux les Bou-
tiques store on Bahnhofstrasse was not renewed because the
landlord felt that Valiant Bank was a better investment. But as it
turned out, the bank has closed many of its branches in Bern can-
ton, and its probably only a matter of time until the Bahnhofstrasse
branch gets the axe as well. Across the street, to the right of Jack
Wolfskin and New Yorker, the Vivarte Gruppe leased a more than 600
square metre space for its discount shoe store La Halle. More than
a year before this, Jack & Jones opened a store next to Nespresso
and right across the street from La Halle. Further down toward the
main train station, Vivarte opened a new shoe boutique known as
Schuhparadies in the Migros building.
Retail space at the choicest locations on Nidaugasse, which is fre-
quented by more than 50,000 persons daily, ask for a rent of 3,600
franc per square metre a year.
12
Biel, a city with great potential
.
Nidaugasse Biel
BIEL / BIENNE is Switzerlands second largest bilingual city, and the
second largest city in Bern canton, after Bern. With 52,000 inhabi-
tants, Biel is Switzerlands tenth most populous city. The population
of greater Biel is 114,000, and around 150,000 persons live in the
Biel catchment area.
Nidaugasse tremendous potential
Caff Spettacolo, which belongs to Valora, closed their branche at
the top of Nidaugasse as a result of concentrating their locations.
Mobilezone, the only mobile phone operator with its own branch
network, took over the Valora lease on a 100 square metre ground-
foor space. In early 2013, Sunrise will be moving into the 90 square
metre former Sud Express store.
Esprit tests the waters in Biel
Esprit had originally planned to open two stores simultaneously in
Biel three years ago. In May 2011, Esprit rolled out its less reddish
look, for the second time worldwide, after a prototype opened in
Hong Kong. After nearly three years of waiting, Lthy und Stocker
Buchhandlung celebrated the opening of its 1,900 square metre
space in the spring of 2011, in conjunction with Esprit. The German
property developer invested 37 million franc in the project.
Although concepts that work in Biel do not necessarily work every-
where, Esprit always uses Biel as a laboratory for the roll-out of new
store concepts. This also held true for the old Esprit store, which
63
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13
Department stores, Railcity and airport shopping
have all scored the greatest success in Zurich
.
Globus Usteristrasse/Pestalozziwiese, Zurich
Wikipedia defnes the distinction between a department store and
shopping mall as follows: Unlike a department store the operators
of shopping mall businesses do not act on their own account, but
rather in the capacity of tenants and property managers. A depart-
ment store proprietor on the other hand operates his business on
his own account in partnership with the property manager.
Zurichs Globus department store best in class worldwide
In 2011, Zurichs Globus department store was once again ranked
as the worlds best department store in its category. With sales
amounting to more than 24,000 franc per square metre across
7,500 square metres of retail space, this fagship stores annual
sales of 180 million franc make it the worlds top performer.
The third foor of Globus Geneva store was renovated and a year
before on the second foor the 12,000 square metre store with its
womens fashions department upgraded to premium products.
Although, owing to the strength of the Swiss franc, the store will
probably not exceed the prior years 12,500 franc per square metre
in sales, with annual sales amounting to 150 million franc the store
still has great potential.
Additional investments amounting to 40 million franc were also
realised in 2011. In October, a Globus department store opened at
the Centre Marin mall near Neuenburg as a replacement for the
City branch.
Setback for Jelmolis transformation project
The goal of the project manager Hanspeter Grninger was to make
the company ft for the future and to allow the transition from the
premium to the luxury products league. The project took its cue
from department stores such as Rinascente, Selfridges, Harrods,
65
Jelmoli department store Sihlstrasse/Seidengasse, Zurich
Manor department store Bahnhofstrasse, Zurich
KaDeWe and Oberpollinger. Mr. Grninger will be repla-
ced in spring 2012 by former Grieder CEO Franco Sa-
vastano.
While net sales in 2009 amounted to around 330 milli-
on franc, this fgure was substantially undercut in 2010
owing to a 9,7 % decrease in the stores per square
metre sales. Because of the remodelling work, it can
be assumed, that for 2011 the sales goals set three
years ago cannot be exceeded until 2012. According to
Jelmoli, in 2010 gross internal sales amounted to 165,1
million franc (net 152,9 million franc), while gross shop-
in-shop rental income amounted to 154,5 million franc
(net 143,1 million franc). Hence the loss relative to 2009
was a relatively moderate 34 million franc.
According to the owner, Swiss Life, the propertys mar-
ket value is 679,2 million franc and the property has
31,198 square metres of leasable space. With sales of
only 319,6 million franc, per square metre sales amoun-
ting to less than 10,000 franc would be a setback for the
propertys potential.
66
Coop St. Annahof department store Bahnhofstrasse, Zurich
Manor with the best location
Manor is perfectly bounded by Bahnhofstrasse, Lintheschergas-
se and Uraniastrasse and has the great advantage that customers
can enter the store from three sides. The turnover of the depart-
mentstore is much more than 100 million francs.
Manor reopens its Basel fagship store featuring 13,000
square metres of retail space
On 1st December 2011 around 2,500 guests attended the gala reo-
pening of the completely remodelled Manor department store on
Basels Greifengasse. The event featured the premiere of the Ma-
nor 300 square metre interactive video surface which is the largest
in Europe. Remodelling the 13,000 square metre space (affectio-
nately referred to as Rhybrugg by Baselers) took nearly a year
during which time the store remained open.
St. Annahof branch of Coop City
All that is known about the St. Annahof branch of Coop City at the
corner of Bahnhofstrasse and Fsslistrasse is that it has 8,000
square metres of retail space. Although Coop City has released no
further details, it is safe to assume that the stores annual sales
are around 80 to 100 million franc.
Turbulence in capital markets hard on Loeb
Loeb suffered from the turbulence in capital-markets during the
frst half of 2011 with the companys poor fnancials showing a
proft decrease. Net earnings amounted to 200,000 franc, down
from 700,000 franc during the same period in the prior year.
While sales in the frst half of 2011 took a 3.3 % nosedive to 46.6
million franc owing to a roll-back of the companys proprietary
space, the per square metre sales were up 5.3 %. According to
Loeb, the fall-off in net earnings was offset by additional rental
income, and the companys real estate holdings were built out,
thanks to the acquisition at mid-year of an additional property in
Bern at a price of 5,5 million franc.
67
Loeb department store Spitalgasse, Bern
Shopville & Railcity mainstation, Zurich
SBB investing 500 million franc in malls - train station
retail and restaurant space being expanded
Train stations are increasingly coming to resemble shopping malls.
Between 2011 and 2016, SBB will be investing around 500 milli-
on franc for, among other things, the creation of additional retail
space at train stations. The company is counting on the fact that
increasing numbers of commuters will be doing their shopping at
train stations.
SBB earned around 1,5 billion franc in sales revenue last year from
its train station stores, not including the 300 million franc in rental
income on these stores that the company raked in.
Train stations will be used by substantially larger num-
bers of passengers over the next decades
According to various projections, the number of train passengers
is set to rise by around 50 % by 2030. The current fgure is 900,000
daily, which could easily double in Zurich and the Lake Geneva
region. The lions share of investments, around 400 million franc,
is earmarked for large train stations. 110 million franc was inves-
ted in the renovation of Genevas Cornavin train station alone. But
smaller and medium sized train stations are also slated for an up-
grade, including the Baden and Bellinzona train stations. And SBB
is also planning to create additional retail space in Zurich on the
new Durchmesserlinie line.
Sales of more than 400 million franc at Railcity Zurich
The best guarantee of robust sales in any shopping mall or train
station is a high frequentation level. Only Railcity Bern theoreti-
cally tops Zurich with per square metre sales amounting to 29,000
franc, but a head to head comparison is not valid here because of
Railcity Berns smaller size. With more than 2,915 train trips per
day, Zurich is one of the worlds most frequented train stations.
A new Burger King store eagerly awaits your visit: In December
2011, Candrian Catering opened a branch with an integrated Coffee
Place as a Blueberry shop-in-shop and a joint venture with Burger
King Express, which is a new arrival in the European scene. After a
year of construction, the opening of the new Burger King in October
2011 marked the conclusion of remodelling and renovation of the
former Marktplatz, which now features 14 stores containing new
businesses.
68
The Circle, Airport Zurich-Kloten

On completion of the Durchmesserlinie line to Oerlikon in June
2014, it is expected that with the underground Lwenstrasse train
station in operation, Zurichs main train station will be frequen-
ted by more than 500,000 passengers daily. The facility will also
be home to 37 new stores extending over 2,800 square metres of
retail space.
Additional innovations for airport shopping
The 80 stores at the Zurich airport generated more than 480 mil-
lion franc in sales, or more than 18,000 franc per square met-
re. Although the airport has only 60 % of the space, as found in
Switzerlands top shopping mall the Glattzentrum, the airports
per square metre sales compared to the 15,000 franc generated at
Glattzentrum are remarkable. In recent years, each departing pas-
senger has spent an average of 42 franc at Zurich airports shops,
bars, and restaurants, compared to a maximum of 20 to 30 franc a
head at most comparable European airports.
Since June 2011, not only departing passengers but also arriving
passengers are permitted to make duty-free purchases at the Zu-
rich airport. The frst arrival duty-free shop opened at Arrival 2 in a
650 square metre space, and a second such shop is slated to open
at Arrival 1 in July 2011 in a 1,100 square metre space. The airport
and the shop operator Nuance Group are looking for substantial
sales; sales projections for the Geneva and Zurich airports range
up to 50 million franc per year. The airport estimates the additional
earnings.
Zurich airport aims to become a destination in its own
right
Flughafen Zurich AG is planning to carry out the largest construc-
tion project Switzerland has ever seen, on a 37,000 square metre
area at the bottom of Butzenbel hill, close by an interconnected
retail park, known as The Circle. This will transform the Zurich
airport from a transportation hub and commercial centre into a
destination in its own right. Beginning in 2017, The Circle will fea-
ture premium-segment international retailers, stores, and service
businesses for an international audience in around 200,000 square
metres of commercial space.
Geneva Airport
In 2010, Geneva airport registered net earnings of 49 million franc
and 320 million franc in sales, with half of the profts going to the
airports owner, Geneva canton. A quarter of the airports takings
were generated by stores, service businesses and restaurants. As
of 1st June, 2011, arriving passengers are also allowed to shop at a
400 square metre duty-free shop in front of the baggage claim area
in the arrival area.
69
14
Shopping malls prepare for the future
.
Modissa store, Glattzentrum
Although Switzerland and Austria count as sa-
turated markets in Europe, Germany still of-
fers potential. Switzerland and Austria have 30
square metres (gross) of rented shopping mall
space per 100 inhabitants, while the fgure for
Germany is only 13 square metres, which is even
lower than Polands 15 square metres.

According to a recent GfK Switzerland study,
Switzerland, a relatively small country, now has
162 shopping malls with 5,000 square metres
or more of foor space. These malls account
for around 17 % of retail sales in Switzerland,
versus 25 % in other countries. Shopping malls
with aggregate retail space of around 940,000
square metres are slated for construction by
2015. According to the GfK study, 13 malls are
under construction or are very likely to be con-
Shoppi ng CenterS of Swi tzerland
70
structed while 16 malls are planned or their realization is uncer-
tain. Thus its no surprise that the study reaches the conclusion,
Switzerlands retail sector is, in the reports words, overstored.
But despite the abundance of retail spaces and locations in Swit-
zerland, the country still offers opportunities for retail store ex-
pansion particularly for foreign retailers.
Glattzentrum under new management
The Glattzentrum had around 8 million visitors in 2010 and regis-
tered aggregate sales amounting to 668 million franc, a slight inc-
rease over the prior year. The 2010 goal of breaking the 700 million
franc sales barrier in 2012 will probably have to be postponed.
When the Bollag Guggenheim Fashion Group, in partnership with
Guess, got the nod for the space formerly occupied by Atlan-
ta Jeans, no one expected that Bollag will get the green light to
open a Marc OPolo store as well. Within the same deal his former
franchisor Esprit was granted a store area. However, this does not
correspond to a press release in March 2010: One of the most im-
portant features of this mix is its tenants, more than half of whom
are recently founded partnerships and family businesses that are
bolstered by robust, tested and true corporate business models.
The Gablinger family Modissa and BIG spaces were supposed to
get the aforesaid nod but the parties went to court. Esprit was
supposed to take over the Modissa space but Marc OPolo was
awarded the BIG store instead.
Marcel Stoffel, the Glattzentrum manager at the time, probably
had not expected his boss Heinz Klausner to assume the risk of
damaging the reputation of the Migros affliate Liegenschaften-
Betrieb AG shortly before his retirement. In the event, Mr. Stoffel
was summarily dismissed at 31st December, 2010 after ten years
with the company.
Stefan Gross named center manager
Mr. Grosss name was in the headlines thanks to his former em-
ployer Ikea. As head of Ikeas Russian realty operations, Mr. Gross
became the fall guy for Scandinavian and Russian offcials. It often
happens in Russia that disobliging managers are found guilty of
wrongdoing on the basis of compromising elements. In most ca-
ses, the individuals concerned do not even know that theyve been
convicted of a crime.
Desigual supplants Hollister
In September 2011, the Spanish young-fashion retailer Desigual
opened an approx. 300 square metre boutique in Drfis former
top-foor space. A week previously, Swarovski rolled out a new
shopftting concept.
Abercrombie & Fitch victim of a marketing false alarm
In 2010, the Glattzentrum announced that it was having discus-
sions with Abercrombie & Fitch. But unfortunately nothing was
realized, including a planned opening with the companys affliate
Hollister. Nor does Gilly Hicks have any immediate plans to open a
store in the Glattzentrum.
Glattzentrum Wallisellen
71
Balexert Shopping Center, Geneva
Sihlcity shopping center, Zurich
Genevas Balexert shopping mall second highest sales in
Switzerland
The Swiss department store chain Globus, the third largest after
Manor and Coop City, is assiduously pursuing its expansion and
modernization strategy. In late 2010, Globus opened a 6,900 square
metre branch at the Balexert mall, which had been enlarged from
10,000 to 45,000 square metres. In March, Globus reopened a Her-
ren Globus store near the Geneva airport after enlarging the store
from 350 to 1,110 square metres at a cost of 20 million franc.
Sihlcity on the move
The Sihlcity mall manager reported in 2010 that sales in all cate-
gories had risen between 7 to 16 %. Aggregate sales amounting
to 372 million franc, represent 9,1 % or 31 million franc, in sales
growth relative to 2009 showing the strongest increase since the
mall opened in 2007. Sihlcity was frequented by 6,6 million persons
in 2010 which works out to an average of more than 21,000 visitors
daily and thus the mall broke the 20,000 visitors per shopping day
barrier for the frst time.
The Rosenberg mall in Winterthur fnally opens after a
more than fve year wait
The press release stated as follows: We are pleased to announce,
that after two years of construction our new shopping mall will be
opening with more than 14,600 square metres of retail space. The
mall features more than 40 specialty stores and local retailers on
two levels.
72
Tivoli mall Shoppi-Tivoli Spreitenbach
Switzerlands largest shopping mall under pressure
In October 2011, the German consumer electronics retailer Saturn
(which is owned by Metro Group) opened a 3,900 square metre
store, its sixth in Switzerland, at the Shoppi Tivoli mall, somewhat
behind schedule.
Alongside, the German fashion retailer Van Graaf which belongs
to Hamburger Peek & Cloppenburg tries to increase the number
of buyers visiting the 4,500 square meter sales area since the be-
ginning. P&Cs (Hamburg and Dsseldorf) experiences, which both
failed in Zurichs Sihlcity, were a costly lesson about the Swiss re-
tail market.
Thus Switzerlands largest shopping mall is now stuck in limbo
with sales amounting to 6,000 franc per square metres and has to
cope with pressure from investors and attract more affuent cus-
tomers to the mall.
Anyhow, the EKZ in Spreitenbach with its best centrality in Swit-
zerland (468 points) is having the best chances of success.
Ceiling collapses at Westside mall, Sales not on track
On 1st April, 2011, Migros Aare Vice President Shopping Centre
and Real Estate Anton Gumann stated that the Westside mall is
still on track with its fve-year plan. After two years of operation,
the mall, which had 3.7 million visitors in 2010, increased its total
sales by 8.3 % to 195 million franc in that year. As Mr. Gumann
put it: Westside has yet to fulfll its full potential. We are making
efforts to optimize the facility and in doing so will pleasantly sur-
prise the malls customers.
On the 9th October 2009, Mr. Gumann stated that the mall had 4.2
million visitors during its frst year of operation but failed to reveal
where the 15 million franc sales increase was supposed to have
come from with visitor numbers down by 500,000. Even assuming
that movie theatre and swimming pool sales were included the
mall would have had a considerable amount of catching up to do
and could not possibly have generated 8,300 franc per square met-
re in sales in its retail spaces alone. Moreover, the 23,500 square
metres of space indicated for 55 stores and boutiques excludes
the 3,000 square metres of restaurant space. Thus, assuming that
aggregate restaurant sales have also been factored in, per square
metre sales would amount to 7,400 franc. If the movie theatre and
health club (an aggregate 10,000 square metres) are included in
the aggregate sales, Westside would only be generating sales
amounting to a mere and catastrophically low 5,300 franc per
square metre.
And even if you divide aggregate sales by the number of visitors,
the result is anything but heartening. Figuring an average expen-
diture of only 52 franc per visitor for shopping, eating, swimming
and moviegoing some businesses would be completely unfrequen-
ted. For comparison: each Glattzentrum visitor spends an average
of 63 % more, i.e. 83 franc.
The CEO of Orell Fssli was extremely dissatisfed from the get-go,
stating that closing the companys location at the Westside mall
in Berlin, where the company had an outsized 1,500 square metre
space, should also be considered along with the closings of the
companys other stores. The Migros subsidiary sent employees,
who were hired to work at Westside, back to the store in the cen-
tre of town, because there was nothing to do at the Bern-Brnnen
location. Here too, compared to the Glattzentrum mall or Genevas
Balexert mall, the ratio between the 6,000 square metre space and
the total size of the mall makes no sense.
In keeping with the adage that misfortunes always come in pairs,
it turns out that the swimming pool at the Bernaqua ftness cen-
tre will not reopen until February 2012. Eight months following the
collapse of the ceiling, repairs are being held up due to the fact
that the requisite documentation is taking longer than expected.
According to government experts, the main cause of the collapse
was a faulty suspension element in the substructure. In the inci-
73
Westside shopping center opening 2009, Bern-Brnnen
dent, which occurred on 12th April, 2011, parts of the ceiling fell
from a height of 15 metres, injuring one person.
Shoppyland mall reopens
Shoppyland mall in Schnbhl celebrated the reopening of the fa-
cility as a whole after three years of remodelling. This overwhelming
success was largely attributable to new tenants such as Saturn, as
well as proprietary Migros stores. As Mr. Gumann put it: Shoppy-
land mall strikingly attests to the fact that customers like it, when
highly appealing tenants are available under one roof even if one
of the tenants, as is the case with Saturn, is a direct competitor of
melectronics. This approach pays off for all concerned.
The two malls in Thun-Sd
Thun was a focus of attention for Migros Aare during the fall. First,
the Oberland mall reopened in its entirety in October 2011, after
being completely renovated (and following a partial reopening in
the summer) with retail space amounting to 14,000 square metres
(up from 9,000) and 20 stores. And in September, the Panorama
mall, which is next door to the new Arena Thun soccer stadium,
opened with OBI as the anchor tenant and 17 other stores, plus
Flower Power ftness centre and Medbase healthcare centre.
Migros Aare intends to step up the pace and intensify its sales net-
work buildout and revitalisation efforts, with the aim of improving
its market position. To this end, between 2011 and 2013 the com-
pany will be investing a total of 40 million franc in 40 projects in
this arena.
The Stcki mall ten tenant changes in two years, still six
vacancies
As Stcki shopping mall manager Jan Tanner told TagesWoche in
December 2011, there have been around ten tenant changes since
the mall opened two years ago. Six spaces are vacant at present.
The mall currently attracts around 10,000 visitors daily, which me-
ans that it has a ways to go to reach its goal of 15,000 visitors daily.
We are not satisfed. But we are doing pretty well, considering the
extremely unusual situation in Switzerland right now brought on
by the strength of the franc. It takes anywhere from three to fve
years for a shopping mall to establish itself on the market. The
disappointing visitor fgures in August and September have shown
some improvement over the past few weeks, with visitor numbers
up 10 % in November relative to last year.
For example, according to Thomas Herbert, CEO of the fashion re-
tailer Schild, who operates the stores as a franchisee, business at
the Hallhuber and s.Oliver stores at Basels Stcki shopping mall
is dismal.
It is unclear why another Mecca of consumerism is needed, just
1,000 metres away from Stcki particularly since the mall loca-
ted in Kleinhningen and opened in the fall of 2009, has not been
doing particularly well. The malls approximative 120 stores and re-
staurants spread across 32,000 square metres of retail space are
empty most of the time, particularly on weekdays. Migros and Sa-
turn have already realised that the mall is pretty much a lost cause
and have drastically reduced the size of their stores.
Marin reopens
Among the new tenants at the Marin mall are Globus and H&M,
which are respectively leasing 4,270 and 1,400 square metre
spaces, which have been completely remodelled. The mall, which
is located between Biel and Neuchatel, opened in November 2011.
74
Shoppyland shopping center, Schnbhl (Bern)
Globus alone invested 14 million franc in shopftting its split-level
space. The newly opened Media Markt, the companys 20th store in
Switzerland, has a 2,550 square metre space.
The remodelling has greatly improved the mall, particularly in
terms of its appearance, but also thanks to optimized access to the
high way. The malls retail space was increased by 15 % to 42 000
square metres. Plans had originally called for Marin to accommo-
date a Saturn store, which would have been the frst such facility
in French-speaking Switzerland. The fact that an additional Media
Markt has now moved in instead, is attributable to the cross-me-
dia strategy that Media Markt is pursuing in Switzerland.
Coop opens megastore no. 31
In the wake of 13 openings and 14 closings, there were 784 Coop
supermarkets in Switzerland as of 31st December, 2010. At the
same time, the opening of the new Coop Oberwil Mhlematt me-
gastore brought the number of such facilities in Switzerland to
31. This frst Coop megastore in the Basel area carries more than
40,000 products and has 4,466 square metres of retail space. The
price tag for the project ran to around 32 million franc.
As at the end of 2010, the 816 Coop stores in Switzerland had an
aggregate retail space amounting to 946,845 square metres, up by
more than 1 % (9,822 square metre) over 2009. Retail sales in 2010
amounted to around 11.3 billion franc.
The graphic below, which is drawn from a GfK study of the Swiss re-
tail sector (Detailhandel Schweiz 2011), shows that in 2010, Swiss
shopping malls generated sales in excess of 100 billion franc.
It can be concluded from this graphic, that action needs to be ta-
ken for the large shopping malls displayed in the latter third of the
graphic. As noted, the Shoppi Tivoli and Shoppyland malls were re-
modelled with the aim of equipping them for the challenges that
will be coming down the pike over the next decade. It will be inte-
resting to see what actions the other shopping mall owners take
with a view to extricating themselves from their current plight.
Hence, it is fair to say that the main concern when it comes to
shopping malls is more than just the physical-plant aspect; also
architecture and market positioning also play a pivotal role as
does, of course, the tenant mix.
Tommy Hilfger and luxury retailers open at Alpenrhein
Village
Tommy Hilfger opened a 480 square metre store at Alpenrhein Vil-
lage Outlet Shopping in Landquart in October 2011. According to
Alpenrhein manager Claudio Poltera, this is Tommy Hilfgers sole
Swiss store and the only one in a 100 kilometre radius.
The next openings of prominent international luxury outlets at the
outlet mall are aimed at bringing it up to a level that is on a par with
FoxTown in Mendrisio. International young-fashion retail chains
will also be making their debut at the mall.
Alpenrhein outlet village, Landquart
75
Foxtown Outlet Mall, Mendrisio
Alpenrhein Village outlet mall, which opened in 2009, is owned by
ING Real Estate Germany GmbH and managed by GVA Outlets, a
subsidiary of Fashion House Group. Other tenants at the mall in-
clude Willy Bogner, St. Emile, Victorinox, Jet Set, Navyboot, Diesel,
Lacoste, Quiksilver, Desigual, Nike, Calvin Klein, Bata, and BREE.
FoxTown designer outlet mall in Mendrisio
Luxury products at bargain prices is the recipe for success at the
FoxTown outlet mall in Mendrisio, which features 160 factory out-
lets for fashion, sports, clothing, and leather products at 30 to 70
percent discounts. The US magazine Forbes has ranked FoxTown
as the worlds second best factory outlet mall, after Helsinkis Ara-
bia Factory Outlet.
FoxTown features a host of fashion outlet stores including (to name
only a few) Armani, Cerruti, Dior, Dolce & Gabbana, Missoni, Gucci,
Prada, Versace, Polo Ralph Lauren, plus outlets of trendsetters like
Miss Sixty, 7 for all mankind, Tommy Hilfger, and Puma. The mall
has three kilometres of shop windows in its various sections and
on various levels.
Foxtown factory stores Expo, Mendrisio
Victorinox store Alpenrhein, Landquart
76
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Shopping centers Switzerland City Selling space Total turnover Turnover/sqm
Square metre CHF CHF
RailCity Bern Bern 6,299 185,000,000 29,370
ShopVille-RailCity Zurich 15,667 403,000,000 25,748
RailCity Basel Basel 7,631 172,000,000 22,540
RailCity Lucerne Lucerne 5,607 121,000,000 21,726
Airport Shopping & Airside Center Flughafen Zurich 27,000 510,000,000 18,881
Neumarkt Altstetten Zurich 8,141 131,000,000 16,055
Shopping center Glatt Glattzentrum 43,387 669,000,000 15,415
Slipark Olten 7,500 101,000,000 13,467
Seedamm-Center Pfffkon 20,103 267,000,000 13,282
Parc du Rhne Collombey 13,000 167,000,000 12,846
Zentrum Oberland Thun 7,875 101,000,000 12,825
Signy Centre Signy 12,962 165,000,000 12,730
La Combe Nyon 10,159 118,000,000 11,615
Einkaufs-Allee Metalli Zug 13,995 162,000,000 11,576
Zri-Oberland-Mrt Wetzikon 9,234 103,000,000 11,111
Migros City Shopping Zurich 10,145 113,000,000 11,109
Neumarkt Brugg 10,600 117,000,000 11,038
Centre Balexert Geneve 42,743 458,000,000 10,715
Shopping center Surseepark Sursee 19,496 207,000,000 10,602
Lman Centre Crissier 17,926 189,000,000 10,566
Centre commercial Chavannes-de-Bogis Chavannes-de-Bogis 21,000 221,000,000 10,524
Mtropole-Centre La Chaux-de-Fonds 10,499 109,000,000 10,382
Saint-Antoine Centre Commercial Vevey 19,230 198,000,000 10,296
Illuster Shopping Center Uster 11,000 113,000,000 10,273
Zugerland Steinhausen 22,042 226,000,000 10,244
Centre Commercial de Crissier Crissier 23,042 233,000,000 10,112
Neuwiesen Einkaufszentrum Winterthur 12,000 121,000,000 10,083
Mythen Center Schwyz 19,930 200,000,000 10,035
Passage Frauenfeld 10,318 101,000,000 9,789
Zentrum Regensdorf Regensdorf 16,609 162,000,000 9,754
Neumarkt Oerlikon Zurich 10,430 101,000,000 9,684
La Praille Centre Commercial Carouge 20,047 194,000,000 9,652
Centre Manor Monthey 16,191 156,000,000 9,635
Wynecenter Buchs 15,980 152,000,000 9,512
Herblingermarkt Schaffhausen 15,669 147,000,000 9,356
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Shopping Centers Switzerland
Selling space
Turnover
77
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Shopping centers Switzerland City Selling space Total turnover Turnover/sqm
Square metre CHF CHF
Meyrin Centre Meyrin 14,100 129,000,000 9,149
Letzipark Zurich 26,174 239,000,000 9,127
Emmen Center Emmen B+rcke 30,300 274,000,000 9,043
Centre Brgg Brgg bei Biel 18,708 169,000,000 9,034
Romanel March Romanel-sur-Lausanne 13,292 113,000,000 8,501
Shopping center Volki-Land Volketswil 24,270 205,000,000 8,447
Centre commercial Croset Ecublens 13,522 113,000,000 8,364
Aarepark Wrenlingen 12,250 100,000,000 8,171
Sihlcity Zurich 42,466 372,000,000 8,100
Fribourg Centre Fribourg 15,263 122,000,000 7,993
Haag Center Haag 12,835 101,000,000 7,900
Mtropole 2000 Lausanne 16,377 129,000,000 7,877
Pizolpark Mels 15,021 115,000,000 7,656
Westside Bern 25,865 195,000,000 7,539
Centre Manor Sierre Sierre 14,140 106,000,000 7,496
Centro San Antonino San Antonino 14,268 101,000,000 7,065
Serfontana Morbio Inferiore 21,957 155,000,000 7,059
Littoral Centre Allaman 16,382 116,000,000 7,050
Pilatusmarkt Kriens 21,500 147,000,000 6,837
Marin-Centre Marin-Epagnier 26,991 185,000,000 6,836
Avry-Centre Avry-sur-Matran 34,035 230,000,000 6,758
La Maladire Centre Neuenburg 19,742 132,000,000 6,701
Shoppyland Schnbhl 48,818 323,000,000 6,616
Shopping center Lnderpark Stans 19,353 123,000,000 6,356
Wankdorf Center Bern 17,672 112,000,000 6,315
St Jakob-Park Shopping Center Basel 20,500 127,000,000 6,195
Shoppi&Tivoli Spreitenbach 67,627 419,000,000 6,192
Planete Charmilles Genve 17,000 105,000,000 6,176
Centro Lugano Sud Grancia 39,580 240,000,000 6,064
Shopping-Arena St Gallen 36,500 221,000,000 6,055
Shopping center Hinwil Hinwil 22,600 133,000,000 588
Centre Bahnhof Biel-Bienne Biel-Bienne 18,733 106,000,000 5,680
Rheinpark St Margrethen 20,854 118,000,000 5,658
Gupark Egerkingen 40,470 210,000,000 5,189
Stcki Shopping Basel 32,000 150,000,000 4,688
Wohncenter Emmen Emmen 32,998 128,000,000 3,879
Selling space
Turnover
Shopping Centers Switzerland
78
15
Swiss Merger and Acquisitions
.
Depot commercial
Migros makes its frst public announcement concerning
its stake in Vgele 40 million franc in losses to date
Taking over Charles Vgele is not an issue for Migros, despite the
fact that the orange monster holds more than a 25 % share in the
company directly and via its pension fund.
Migros acquired a stake in three companies in early 2008 and soon
acquired a stake in Charles Vgele, the travel agency chain Kuoni
and the fnancial services company VZ-Vermgenszentrum, with
the lions share of the funds being expended on Kuoni in which Mi-
gros incrementally increased its share to 8.5 %. Migross fnanci-
al department was far bolder when it comes to Charles Vgele, in
which MGB and the Migros pension fund hold a 25.2 % stake, as
the company reported to the SIX Swiss Exchange.
Migros manages all three of these holdings via options, to which
end its fnancial department regularly sells or puts options, as the
reports submitted to SIX shows. Such options entitle Migros to sell
off shares within a fxed period at a fxed price. If the share pri-
ce undercuts the option price, the company earns a high return by
virtue of the leveraging effect. This instrument enables Migros to
limit its currency-conversion loss on share purchases. Migros is no
doubt particularly grateful for this advantage in connection with
its Charles Vgele shares, which have gone down by around 80 %
since Migros bought them.
Migros has at various times held up to seven put options on
Charles Vgele shares with graded option prices and expiration
dates. The company now holds six put options, all of which expire
in April 2012 at the latest. It is unlikely that Migros will be able to
recoup its loss on the Charles Vgele shares a loss that analysts
estimate amounts to at least 40 million franc. Migros has also lost
money on Kuoni, whose shares have declined by 55 %. However,
the companys VZ shares have increased by 25 %.
Charles Vgele hired a new CEO in September 2011, and also plans
to terminate its sponsorship of Zurich Fashion Days.
Migross Dieter Berninghaus an indefatigable CEO
In 2009 Mr. Berninghaus wangled a stake for Migros in the Ger-
man home furnishings company Gries Deco Holding, whose CEO,
Christian Gries, Mr. Berninghaus counts among his friends. In 2012,
Migros will increase its stake to 49 %, and will thus become the
majority shareholder.
A massive logistics centre is being constructed in Niedernberg,
Germany to meet the needs of Depot Groups expanding operations.
The project, which will cost upward of 130 million franc, is probab-
ly Migross largest foreign project to date. During the cornerstone-
laying ceremony, Mayor Jrgen Reinhard said the following, in re-
ference to the strength of the Swiss franc: Mr. Berninghaus, I can
assure you that you will not be able to realise this project for less.
The main element of the facility will be a 40 metre high shelf sys-
tem with space for 120,000 palettes.
Orange sold to Apax
On 23rd December, 2011, Apax Partners announced that it had con-
cluded a contract concerning acquisition of the mobile phone ope-
rator Orange Communications SA (a member of the France Tele-
com Group) for around 2 billion franc. The transaction still awaits
approval by Swiss authorities, and will be submitted for approval
to the France Telecom board in January 2012.
With 1.6 million customers and the highest average per-user reve-
nue, Orange is one of Switzerlands leading mobile phone operators
and registered sales amounting to 1.3 billion franc in 2010. Apax is
one of the worlds leading private equity investment group funds,
and is active in the US, in Europe and Asia. Apax Partners mutual
funds currently amount to a total of 40 billion dollar worldwide.
Kuoni Holding completes the fnancing phase of its takeo-
ver of Gullivers Travel Associates
On 12th May, 2011, Kuoni Holding Travel AG wrapped up the fnan-
cing phase of its takeover of Gullivers Travel Associates (GTA). This
acquisition has elevated Kuoni to the ranks of one of the leading
providers of online destination management services. The acqui-
sition was fnanced via credit facilities amounting to 600 million
franc, a stock option emission amounting to 257 million franc, and
cash on hand. Credit Suisse was the lead manager and sole book-
runner for the stock option emission and lead syndicate manager
for the credit facilities.
79
Kuoni headquarter Hardbrcke, Zurich
Beach Mountain commercial
Coop acquires The Body Shop Switzerland AG
As at 1st March, 2010, The Body Shop Switzerland AG was success-
fully integrated into the Coop Group. At the time of the takeover,
The Body Shop had 37 Swiss stores, which employ 195 persons all
of whom Coop will be keeping on. According to informed sources,
the purchase price was 35 million franc.
A double whammy for Dosenbach-Ochsner
No sooner was it confrmed that Dosenbach-Ochnser AG (2010
sales: 949 million franc) is holding talks with Snipes Textil GmbH
concerning a strategic partnership than the company, a member
of the Deichmann Group, proceeded to snap up Beach Mountains
activities.
Beach Mountain, which Andy Tanner opened in Zurich in 1985, was
Switzerlands frst snowboard store and was sold to Jelmoli Hol-
ding in the mid 1990s. The company has six stores, in Zurich, Bern,
St. Gallen, and Chur.
Under the terms of the deal, Dosenbach-Ochsner will be operating
directly under the aegis of Jelmoli in that the department store
on Bahnhofstrasse will also have a Beach Mountain store. All of
the Beach Mountain stores will remain in operation, except for the
Glattzentrum store, which will become a new Dosenbach-Ochsner
fagship store. The shoe and sporting goods group markets the
brands Dosenbach, Ochsner Shoes, Ochsner Sport and Sport Lab
in Switzerland. Dosenbach-Ochsner is a member of the Deichmann
Group, which is based in Essen and whose 2010 sales amounted to
3,93 billion euro.
80
16
Switzerlands highest-demand investment
market of the past two decades
.
Although Switzerlands real estate sector continues to be blessed
by low interest rates, the resulting high prices make the problem
of market overheating a matter of major concern. But not all mar-
ket segments and regions are equally affected by this evolution.
Shopping property markets are less likely to overheat since, unlike
the housing market, the brief recession drove down demand in this
sector.
For years now, the shopping property sector has been generating
larger profts than any other real estate sector. We know from ca-
pital-market theory that high profts also entail high risk. In the
shopping property sector, there is often a fne line between suc-
cess and failure. International retail chains intensify the crowding-
out process, to which only small businesses fell victim in the past,
and in so doing also intensify the process of structural change,
which proceeds apace in any case owing to changes in consumer
behaviour and the tendency toward market saturation. More inten-
sive structural change means that the cards are reshuffed, which
in turn has an uncertain impact on market players, thus increasing
the risk involved.
According to IPD Swiss Property Index surveys, Swiss institutional
investors property holdings are now valued at around 140 billion
franc, with aggregate market potential being put at 993 billion
franc, around 178 and 111 billion franc of which are accounted for
by offce space and retail space respectively compared to hou-
sing, which accounts for around 644 billion franc.
The Swiss Offce of Statistics gives the retail sector a
clean bill of health
Consumer expenditures, and in particular consumer retail expen-
ditures, proved to be a driver of growth in Switzerland during the
crisis of 2008 and 2009. The latest statistics issued by the Swiss
Offce of Statistics confrm that the Swiss retail sector is still going
strong (excluding fuels) as it exhibited real sales growth amounting
to 1.9% in July 2011, compared to the prior year. However, the cur-
rent loss of consumer confdence signals weakness in the sector.
Owing to Switzerlands relatively small size and population, the
Swiss real estate investment sector is a niche market for interna-
tional investors. This will probably remain the case for the foresee-
able future since the entry barriers are high, competition is scant,
and the high margins and profts are already invested.
Multibranch ratio
A store lease for a well frequented location generally yields a 75 %
ROI, mainly resulting from leasing of the retail space. However,
Switzerlands multibranch ratio is far below average when com-
pared with other countries. While this means that Switzerland still
has many non-chain stores, it also means that only the ground
foor of many properties is currently used as retail space, and po-
tentially valuable basements and upper stories are still largely
disregarded.
Some segments are characterised by extensive oligopolies, which
means that a handful of retailers control a relatively large share of
their segment and are thus in a position to ward off competition
from foreign retail chains more easily and more often than is the
case in other countries. As a result, the margins of these retailers
are disproportionately higher than those in other countries. Swit-
zerland has always had a low level of segment specialization for
classic retailers as well as discounters, and even a successful dis-
count supermarket chain such as Aldi has for years fallen far short
of servicing the entire Swiss market, i.e. the company is not able to
open stores throughout Switzerland.
International-retailer expansion
Despite the daunting conditions faced by new market players,
Switzerland is an extremely appealing market since retail sales
have remained stable thanks to uninterrupted demand and the in-
fux of 70,000 (largely German) workers a fgure that is on the rise
in some segments. The sales of retailers that specialise in or also
carry high-end wares have increased in Switzerland, whereas in
other countries in the wake of the economic crisis this is one of the
segments where sales have tended to collapse most dramatically.
The advantages of Switzerland for high-end retailers can be best
illustrated by comparing store counts in Switzerland and Germa-
ny. The market leader Louis Vuitton has seven fagship stores in
Switzerland and only ten in Germany, and the situation is much
the same for many other well established retailers, regardless of
sector.
Switzerland Germany Ratio
Moncler 6 1 600 %
Herms 10 13 76 %
Gucci 6 8 75 %
Louis Vuitton 7 10 70 %
Prada 3 5 60 %
Ermenegildo Zegna 3 6 50 %
81
Coop acquires Volkiland from Swiss Prime Site
The Volkiland shopping mall in Volketswil was sold for 280 million
franc, including the adjacent Unter Hh retail and commercial com-
plex adjacent to the mall.
ECE (the self-proclaimed leading operator of European downtown
shopping malls) also conducted a thorough assessment of the sale
of Volkiland. ECE operates Basels Stcki mall, among others.
The mall is frequented by 50,000 visitors weekly. The scope of
Volkilands retail space is on par with that of Letzipark in Zurich and
Westside in Bern. Volkiland generated 205 million franc in sales last
year, three times less than the Glattzentrum in Wallisellen, which is
Switzerlands leading shopping mall in terms of sales.
Coop will be retaining the same management and operating style as
the former operator, Swiss Prime Site. The mall was last remodelled
in 2003, and no remodelling is currently planned.
Berns Wankdorf stadium changes hands
Thanks to an investment from the UBS real estate and pension
funds, the shopping mall at Berns Stade de Suisse is once again in
Swiss hands.
Wankdorf Centre, the shopping mall under the Stade de Suisse so-
ccer stadium, has once again changed hands after fve years. The
stadium was built in 2005 as a joint venture of Coop, Suva and Win-
terthur. Construction of the building complex as a whole cost more
than 300 million franc. The mall was purchased by Cologne-based
Dr. Karl Bartel in 2006 only a few months after it opened.
The soccer stadium was purchased from Stade de Suisse Wankdorf
Nationalstadion AG, which is jointly owned by BSC Young Boys and
Andy and Hans-Ueli Rihs. There have been various rumours in the
past that both the stadium and BSC Young Boys might be put up for
sale. But by recently naming Christian Gross as the new BSC Young
Boys trainer, the shareholders reaffrmed their commitment to the
club. And in any case, the price would have to be right in order for
the club to be sold.
Coop, Suva and Winterthur indicated at the time that
co-ownership by three companies had become prob-
lematic, as it had become diffcult to reach decisions.
This situation prompted the owners to accept Bartel
GmbHs offer. Bartel is the founder of Dr.-Eberts-&-
Partner-Gruppe, which owns offce buildings, ho-
tels, and senior-citizens apartments. Although the
purchase price was not disclosed at the time, it was
reported that Bartel was aiming for a 5 % to 6 % ROI.
The Sima real estate fund acquired an around two-
thirds stake in the property, with the rest going to the
Swissreal real estate fund and the UBS investment
foundation investment groups Immobilien Schweiz
and Kommerzielle Immobilien Schweiz. Wankdorf
Centre is thus not directly owned by UBS, as the real
estate funds and investment foundation are separa-
te legal persons. Any investor can buy shares on the
stock market in UBS Sima und UBS Swissreal, and
thus become an indirect investor in Wankdorf Cen-
tre.
PSP to leave everything as it is at Vorderer Sternen in
Zurich
As of 30th September, 2011, the real estate portfolio of Switzerlands
second largest (and listed) real estate company PSP comprised 168
offce buildings and commercial buildings, plus six appealing pro-
perty development areas and two individual projects. The portfolios
balance sheet value was 5.714 billion franc as at said date, versus
5.518 billion franc as at the end of 2010. No acquisitions were effec-
ted during the reporting period, and six properties were sold for an
aggregate 55.4 million franc, 18 % more than in the prior reporting
period.
Ongoing property development activities continued according to
plan. Noteworthy in this regard is the start-up of construction in
Gurtenareal in Wabern near Bern, as well as submission of a new
building permit application for the Paradiso area in Lugano. Forty of
the 101 Gurtenareal condos have been reserved. In July 2011, con-
struction began on the new Vorderer Sternen offce and restaurant
complex at Theaterstrasse 22 on Zurichs Bellevue square, which is
slated for completion in the spring of 2013 at a cost of around 12
million franc. In addition, renovation of the around 700 square metre
Kesselhaus offce building in Zurichs Hrlimann-Areal was recently
begun and will cost around 5 million franc.
The Habas Group sells off one of its Swiss real estate
companies
On 31st May, 2011, the Habas Group sold one of its Swiss real estate
companies, Habas Swiss Investments AG III, which owns more than
7,000 square metres of retail space in Zurich and Bern cantons. The
Habas Group has affliates in Tel Aviv, Amsterdam, and New York.
Volkiland, Volketswil
82
83
84
17
Germany a major focus of domestic and
international retailers
.
The run on top-notch retail locations continued apace in 2011. Ac-
cording to the expansion executives we spoke to, German cities are
subject to exact rankings in terms of priority. Munich indisputably
heads the wish lists of expansion executives, followed by Ham-
burg, Dusseldorf, Frankfurt, Berlin and Stuttgart, and then by Co-
logne, Hannover, Leipzig and Dresden. That said, high-end retailers
tend to be pretty tight-lipped about their expansion plans.
All eyes on the Inditex Group
In the shopping property sector, the main focus is on large retailers
and in particular on the Inditex Group, which has a large need for
shopping mall spaces averaging 1,500 square metres in size for its
Zara, Zara Home, Bershka and Massimo Dutti stores.
In 2012 the company will be looking for a concept store for Pull &
Bear, and will be rolling out its Oysho concept in 2013. Whats more,
its only a matter of time before efforts are made to establish Stra-
divarius and thus create in both pedestrian zones and shopping
malls an Inditex world modelled on exemplars in Spain and Eu-
rope. Hence, the company has an enormous need for space, owing
to its accelerated expansion program.
US retailers out in force
Store openings and the conclusion of store leases by Abercrombie
& Fitch, Hollister, Forever 21, Primark and Apple, to name a few,
continue to generate excitement and also clearly indicate demand
for retail spaces in well frequented locations will remain strong
Apple 5th Avenue, New York
85
going forward. There is also intense speculation that retailers such
as Victorias Secret, J. Crew, Oasis, New Look and Uniqlo may be pl-
anning to open stores in Germany. Even Gap is interested in retur-
ning to Germany, and while no specifc dates have been set, feelers
are likely to have been extended.
Apart from classic retailers, the US retailer Michel Kors has Euro-
pean expansion plans, particularly in Germany, and plans to open
around 50 European stores, four of them in Germany. We are cur-
rently scouting out locations in Hamburg, Berlin, Dusseldorf and
Frankfurt, said CEO John D. Idol at the opening of the companys
Paris fagship store during Fashion Week. Our Munich store is
doing great and is driving our German wholesale business, Mr. Idol
added.
Calzedonia planning 50 new stores
Smaller stores such as those operated by the Italian retailer Cal-
zedonia have also folded Germany into their expansion plans. Cal-
zedonia Vice President Expansion Michele Groppo is raring to go in
this regard: Weve already concluded 15 leases, and a total of 50
stores are slated for opening in the coming year.
But international retailers that have long been established in Ger-
many also have expansion plans, since Germany has more than
186 cities with a population of more than 50,000. H&M, Zara, Best-
seller, Tally Weijl, and G-Star are all looking to expand their German
activities. The German market has an extremely good reputation,
and thus the demand for top-notch locations is growing steadily.
Primark continues its German expansion program and
will also be expanding in Austria
This was confrmed by Thomas Meager, Director of Property of
the Irish clothing discounter Primark. Weve already secured the
frst two locations in Berlin, among others, Mr. Meager says. The
company plans to open two large stores by the end of 2012 in the
Schlossstrasse shopping mall in Berlins Steglitz district. Primark
will also be taking over the 6,500 square metre former Saturn store
on Alexanderplatz at some point after 2012.
Primark, which will also be opening a 5,300 square metre store in
Saarbrcken in early 2012, currently has stores in Berlin, Bremen,
Essen, Hannover, Frankfurt, Dortmund and Gelsenkirchen. Accor-
ding to Mr. Meager, these stores count among the most successful
in the companys feet.
Premium and luxury retailers are also expanding their
presence in Germany
Maximilianstrasse is by far Munichs most popular street among
both tourists and shoppers. Neuer Wall in Hamburg, Knigsallee
in Dusseldorf, Goethestrasse in Frankfurt and Kurfrstendamm in
Berlin are also dear to the hearts of shoppers as they offer a vir-
tually complete selection of the most prominent retailers wares.
Demand for retail space on these streets is high, but such space
is hard to come by.
Hence the search for retail space goes on, a phenomenon that
mainly works to the beneft of landlords in the guise of steadily
increasing rental income. ROI on shopping real estate is on the
rise, with properties fetching prices that not long ago would have
seemed completely out of reach. And its not only because of Euro-
pean investors from outside Germany that retail space is in short
supply.
Munich undisputed leader, still
With store rents running to 320 euro per square metre, Munich is
the leader in this sphere, followed by Frankfurt, with rents of up to
280 euro. In Dusseldorf and Hamburg, store rents range up to 250
euro per square metre (according to the real estate company JLL),
followed by Berlin (240 euro), Stuttgart and Cologne (235 eutos and
230 euro, 6th and 7th respectively). The smallest city among the
top ten is Mnster, whose store rents are holding steady at 155
euro per square metre. Real estate industry analysts are expecting
rents to rise in half the cities in this group. In contrast, per square
metre prices in the former East Germany remain unchanged, with
(to take two examples) stores on Leipzigs Grimmaische Strasse
and Dresdens Prager Strasse going for 115 euro and 110 euro per
square metre respectively.
Purchasing power set to rise in Germany
According to the consumer research organisation Gesellschaft fr
Konsumforschung (GfK), purchasing power in Germany is set to rise
considerably in 2011. According to GfKs estimates in their recent
purchasing-power study, purchasing power in Germany will incre-
ase by 499 euro per capita relative to the prior year, and aggregate
German purchasing power will amount to 1,61 billion euro, a 2,6 %
increase over 2010. Thus in the coming year, each German will have
nearly 20,000 euro of disposable income for items such as consu-
mer products, rent, and the cost of living. According to GfK, this
evolution is mainly attributable to Germanys rapid recovery from
the fnancial crisis, as well as increased life expectancy.
Bavaria is the German state with the highest purchasing power,
amounting to 21,326 euro per capita, followed by Hamburg (21,320
euro), which moved up two rankings, causing the rankings of Hes-
sen (21,187 euro) and Baden-Wrttemberg (21,000 euro) to each
slip one notch. These states are followed by Schleswig-Holstein,
North Rhine-Westphalia, Rhineland-Palatinate, Lower Saxony,
Saarland, Bremen, Berlin, Brandenburg, Thuringia, Saxony, and
Mecklenburg-West Pomerania. Saxony-Anhalt came in last with
average purchasing power amounting to 16,421 euro.
In the sphere of urban districts and their rural counterparts Hoch-
taunuskreis ranks frst with nearly 29,000 euro, followed by Land-
kreis Starnberg with around 28,000 euro and Landkreis Munich
and Main-Taunus-Kreis with around 27,000 euro.
86
Berlin Hamburg Munich Frankfurt Dsseldorf Stuttgart
16,779,6
3,455,3
3,745,6
8,505,4
9,626,7
Quelle: Gfk GeoMarketing GmbH, 2010
Munich Dsseldorf Frankfurt Stuttgart Hamburg Berlin
94,4
104,5
108,4 109,3
114,3
1,247
3,368,0
Berlin Hamburg Munich Frankfurt Stuttgart Dsseldorf
581,122 597,176
659,021
1,311,573
1,770,629
3,416,255
Source: Gfk GeoMarketing GmbH, 2010 Source: HDE Hauptverband des Deutschen Einzelhandels
1990 1993 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Year
120
100
80
60
40
20
0
77
88
95
109
111 112
114
115 116 117 118
120 121 122
Relevant purchasing power
for retail (in mio. euro)
index for retail
Inhabitants in city region
Development of retail spaces in Germany (in Mio. sqm)
16,779,6
3,455,3
3,745,6
8,505,4
9,626,7
94,4
104,5
108,4 109,3
114,3
1,247
3,368,0
581,122 597,176
659,021
1,311,573
1,770,629
3,416,255
1990 1993 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Year
120
100
80
60
40
20
0
77
88
95
109
111 112
114
115 116 117 118
120 121 122
index for retail
16,779,6
3,455,3
3,745,6
8,505,4
9,626,7
94,4
104,5
108,4 109,3
114,3
1,247
3,368,0
581,122 597,176
659,021
1,311,573
1,770,629
3,416,255
1990 1993 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Year
120
100
80
60
40
20
0
77
88
95
109
111 112
114
115 116 117 118
120 121 122
index for retail
16,779,6
3,455,3
3,745,6
8,505,4
9,626,7
94,4
104,5
108,4 109,3
114,3
1,247
3,368,0
581,122 597,176
659,021
1,311,573
1,770,629
3,416,255
1990 1993 1995 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010
Year
120
100
80
60
40
20
0
77
88
95
109
111 112
114
115 116 117 118
120 121 122
index for retail
889
332
4,117
1,510
Stuttgart Dsseldorf Munich Hamburg Frankfurt Berlin
129,2
114,5
116,5
121,6
127,7
Berlin Hamburg Munich Dsseldorf Stuttgart Frankfurt
4,002
1,300
4,060
1,666
9,639
2,830
10,461
1,817
17,240
2,140
110,1
849
331
1,040
252
1,656
446
2,520
308
4,562
521
12,4
17,4
29,4
36,7 41,0 32,5
11,4
12,2
26,9
24,2 37,3 39,0
Centrality index
Retail revenue (in Mio. Euro); there
of in the city center (in %)
Relevant sales spaces in retail
(in 1,000 sqm); thereof in the city
center (in %)
889
332
4,117
1,510
129,2
114,5
116,5
121,6
127,7
4,002
1,300
4,060
1,666
9,639
2,830
10,461
1,817
17,240
2,140
110,1
849
331
1,040
252
1,656
446
2,520
308
4,562
521
12,4
17,4
29,4
36,7 41,0 32,5
11,4
12,2
26,9
24,2 37,3 39,0
Centrality index
center (in %)
889
332
4,117
1,510
129,2
114,5
116,5
121,6
127,7
4,002
1,300
4,060
1,666
9,639
2,830
10,461
1,817
17,240
2,140
110,1
849
331
1,040
252
1,656
446
2,520
308
4,562
521
12,4
17,4
29,4
36,7 41,0 32,5
11,4
12,2
26,9
24,2 37,3 39,0
Centrality index
center (in %)
Frankfurt Dsseldorf Stuttgart Hamburg Berlin Munich
1,6
1,3
1,4
1,5
1,5
Source: Gfk GeoMarketing GmbH, 2010
1,3
Retail space per inhabitant (in sqm)
Purchasing power index
The purchasing power index re-
presents the net wages of inhabitants
within a specifc region. It therefore
refects the demand potential of end-
consumers at a location.
National average = 100
An index of more than 100 provides in-
formation that the purchasing power
is above average; an index of less than
100 indicates a below-average local
purchasing power.
Centrality index
Centrality Index represents the
difference between revenue and
purchasing power index. It describes
how purchasing power drains of to the
environs, or accrues from the environs
respectively.
National average = 100
An index of more than 100 means
that purchasing power accrues from
the environs the region has more
retail turnover than the inhabitants
purchasing power would permit. If the
index is below 100, purchasing power
drains to the environs and the retail
turnover is lower than the purchasing
power of its inhabitants.
Retail turnover
Retail turnover is the sum of expenses
end-consumers shop for within a spe-
cifc region.
Frankfurt Dsseldorf Stuttgart Hamburg Berlin Munich
1,6
1,3
1,4
1,5
1,5
Source: Gfk GeoMarketing GmbH, 2010
1,3
Retail space per inhabitant (in sqm)
p
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120113_PILGRIM_MarketStudy.indd 1 13-01-2012 13:18:21
88
Rent index Germany
Rent in Euro / Square meter per month
Size of the store 80-120 150-200 350-400 1,200-1,500
Frontage 5-6m 7-8m 9-10m 12-15m
Munich Kaufnger/NeuhauserStrasse 350 280 260 140
Maximilianstrasse 250 210 190 120
Rosenstrasse/Rindermarkt 210 180 160 90
Weinstrasse/Theatinerstrasse 200 170 140 90
Sendlinger Strasse 190 175 120 60
Leopoldstrasse 130 120 70 35
FRANKFURT Zeil 280 200 170 100
Goethestrasse 190 160 125 70
An der Hauptwache/Biebergasse 180 150 110 70
Grosse Bockenheimer Strasse 175 155 120 70
Kaiserstrasse/Rossmarkt 115 90 70 40
Schillerstrasse 110 85 65 40
HAMBURG Spitaler Strasse 280 230 180 110
Mnckebergstrasse 250 220 170 110
NeuerWall 225 200 160 80
Jungfernstieg 185 160 120 80
Poststrasse/Gerhofstrasse 180 150 100 70
Grosse Bleichen 110 95 80 50
ABC Strasse/Hohe Bleichen 75 55 48 25
STUTTGART Knigstrasse 250 210 190 95
Bchsenstrasse/Schulstrasse 150 130 100 70
Hirschstrasse/Kirchstrasse 80 70 55 30
Calwer Strasse 60 50 40 20
DSSELDORF Schadowstrasse 230 150 110 70
Knigsallee 220 140 90 60
Flinger Strasse 200 130 90 60
Mittelstrasse 100 70 50 20
KLN Hohe Strasse 220 160 120 70
Schildergasse 260 190 140 90
Ehrenstrasse 95 75 45 25
Neumarkt 85 70 35 20
Breite Strasse 80 55 37 15
BERLIN Kurfrstendamm/Tauentzien 210 160 120 70
Friedrichstrasse 130 100 85 65
Alexanderplatz 120 90 70 50
Hackescher Markt 110 90 70 55
Schlossstrasse 105 80 55 35
Wilmersdorfer Strasse 85 75 50 35
DORTMUND Westenhellweg 200 160 110 70
Ostenhellweg 120 95 60 40
LEIPZIG Petersstrasse 125 90 65 45
Grimmaische Strasse 125 90 65 45
Nikolaistrasse 60 45 30 20
Hainstrasse 55 40 25 18
DRESDEN Prager Strasse 100 80 55 40

89
18
Berlin with a renaissance in
Charlottenburg and how
.
Brandenburger Tor, Berlin
Bears on the Kudamm, Berlin
BERLIN is the capital of Germany, and as a city-state is also
a state that comprises the centre of Metropolregion Berlin/
Brandenburg (the Berlin-Brandenburg metropolitan area).
With 3,45 million inhabitants, Berlin is Germanys most po-
pulous city, and with surface area of 892 square kilometres
is the largest city in Germany and the second largest in the
EU.
The ever-growing infux of visitors from Europe and beyond
refects the popularity of this unique metropolitan area.
Hardly any other city in the world has so many districts that
to all intents and purposes function independently of each
other. The downtown area of Berlin has become increasingly
popular among retailers in recent years, particularly Fried-
richstrasse, Hackescher Markt and Potsdamer Platz.
Berlins retail sector has remained on an even keel,
the crisis notwithstanding
This fnding comes from a market study by the retail-sec-
tor experts Jones Lang LaSalle titled Retail Ticker Berlin,
which investigated Berlins key shopping streets and found
that they were virtually unchanged relative to the prior year.
Store rents, which range up to 220 euro per square metre,
have remained stable. A brief study by Kempers Jones Lang
Salle Retail came to the same conclusion.
All in all, according to these studies, Berlin generated the highest retail
clothing sales in Germany for both womens and mens clothing. The 861 mil-
lion euro in sales of womens clothing are considerably higher than the 766,8
million euro in purchasing power for this sector in Berlin.

90
Herms Kurfrstendamm, Berlin
Prada Kurfrstendamm, Berlin
TOP TEN GERMAN DISTRICTS (KREISE) FOR WOMENS
AND MENS CLOTHING SALES
Urban/rural district Womens retail Womens clothing Mens retail Mens clothing
clothing sales purchasing power clothing sales purchasing power
(EUR mio.) (EUR mio.) (EUR mio.) (EUR mio.)
SK Berlin 861,0 766,8 421,9 336,5
SK Munich 619,4 441,5 333,0 208,9
SK Hamburg 566,4 492,5 290,4 223,1
SK Kln 394,4 282,5 169,0 130,0
AK Frankfuhrt Main 321,1 194,7 165,0 87,0
SK Stuttgart 283,5 170,1 135,4 77,7
LK Region Hannover 243,3 300,6 118,7 143,4
SK Dsseldorf 232,2 177,2 117,6 82,6
SK Nrnberg 223,7 134,9 114,5 60,5
SK Mannhein 175,2 78,5 89,0 60,8
Source: GfK clothing retail sales in 2011
A renaissance in Charlottenburg and how!
Berlins Charlottenburg district has been experiencing a truly ama-
zing resurgence over the past two years. The focus of interest for
international retail chains is the Kurfrstendamm area, where re-
tail space has been in great demand since Herms decided to fo-
cus on its two Kurfrstendamm stores.
At Kurfrstendamm 185, California-based denim retailer 7 For All
Mankind opened its second store, a split-level 125 square metre
space that is the companys fourth German store.
Herms leaves Berlin-Mitte
The Herms fagship store at Kurfrstendamm 58 reopened in Sep-
tember 2011 after six months of renovation, and with 250 square
metres of space, up from 220 in its previous incarnation. Prior to
this, Herms closed its boutique at Berlins Friedrichstrasse 171,
and at the same time, in the fall of 2011, opened a franchise at
KaDeWe, in whose 150 square metre ground-foor space Herms
will be selling its wares for the frst time in a so called Luxusbou-
levard.
Prada opens new fagship store
In February 2011, Prada opened a split-level 500 square metre
fagship store in Berlin following an eight-year absence from the
city.
91
Karen Millen Kurfrstendamm, Berlin
7 For All Mankind Kurfrstendamm, Berlin
Peuterey opens second store in Berlin (having opened its
frst in Milan); Armani shopftting behind schedule
In June 2012, the Italian company Geo Spirit will be opening a 150
square metre store for its Peuterey products at Kurfrstendamm
54. The previous tenant, Brille 54, has signed a lease for the former
Elegance space and will be opening there in July 2012. Giorgio Ar-
mani has found it necessa-
ry to postpone the planned
opening of its store next
door until January 2012.
Budapester Schuhe
replaces Butlers; Dolce
& Gabbana replaces
Tizian
Budapester Schuhe will be
opening a new 360 square
metre store at Kurfsten-
damm 203-205 in March
2012 in a space formerly
leased by Butlers.
In January 2012, Dolce &
Gabbana will be opening a
647 square metre store at
Kurfrstendamm in the for-
mer Tizian Schuhe space.
Leiser will be opening a new 300 square metre Tizian store at Kur-
frstendamm 45.
A new 580 square metre Lsche Pelze store will be opening in the
former Mercedes showroom on Berlins Kurfrstendamm.
92
Bershka opening Tauentzienstrasse, Berlin
Bershka coming to Tauentzienstrasse
In the fall of 2011, Bershka opened its frst German store on
Berlins Tauentzienstrasse, only a few steps away from Desigual
and Vero Moda in the space formerly leased by the fashion retailer
Appelrath Cpper. The 1,550 square metre split-level store is also
Bershkas largest location worldwide.
Cotton On, Jack Wolfskin and Steiff
The Australian retailer Cotton On opened its frst German store this
past spring on Kurfrstendamm. A second Berlin store is planned
for Wilmersdorf Arcaden, and a third for the Boulevard Berlin
shopping mall.
Jack Wolfskin also inaugurated a 285 square metre store at Kranz-
ler Eck on Kurfrstendamm in September. The deal for this the
outdoor specialists 231st German store was brokered by BNP
Paribas Real Estate.
In June, Steiff opened a 145 square metre store on Kurfrsten-
damm in the former Jack Wolfskin space.
Things are happening in the shopping portion of
Prachtmeile
The past few years have been unusually eventful on Prachtmei-
le: the world-renowned KaDeWe department store in Berlin now
has Louis Vuitton, Prada, Bulgari, Gucci, and Chanel shops; Peek
& Cloppenburgs Weltstadthaus solidifed the companys reputa-
tion; and Saturn opened its largest store at Europacenter. And last
but not least, the opening of the Bershka store attests to the im-
pressive changes that have taken place in this former West Berlin
district.
Apple to open its largest European store in Berlin
2012 will see the opening in Berlin of the largest European Apple
Store in close proximity to Gedchtniskirche. Apple will be leasing
Haus Wien at Kurfrstendamm, which has around 5,000 square
metres of retail space.
Bikini Berlin complex and Waldorf Astoria
Renewed efforts are being made to revitalise the Bikini Berlin
complex, which is located at Bahnhof Zoo train station and in clo-
se proximity to Apple, Gedchtniskirche and Europacenter. These
efforts, which are aiming at optimizing the complexs appeal as a
retail location beginning in the fall of 2012, will be strengthened
by the presence of Berlins Waldorf Astoria Hotel. In addition to
prominent retailers, the boutique hotel 25 Hours will be moving
in. Some 60 % of the complexs around 23,000 square metres of
foor space will be reserved for clothing stores, while 20 % will be
given over to restaurants and cafes, and 5 % each will be devoted
to health, technology, lifestyle and specials. The complex got its
name when it was frst built, by virtue of the fact that the middle
foor was an open arcade, and thus the building was composed of
two elements, like a bikini. This open level was closed off in the
late 1970s.
The up and coming Steglitz district
Retail stores are also continuing to spring up in the former West
Berlin district of Steglitz. In March 2012 Multi Development will
be opening its Boulevard Berlin shopping mall, which will feature
Zara, H&M, Beshka, Zara Home, Esprit, s.Oliver and other stores.
Thus yet another shopping mall will be opening in the central por-
tion of Schlossstrasse, the streets fourth in addition to Forum,
Schloss and Schlossstrasse. The project is a joint venture with
93
KaDeWe Tauentzienstrasse, Berlin
Alexa shopping center Alexanderplatz, Berlin
94
Galerie Lafayette Friedrichstrasse, Berlin
Scotch & Soda opening Hakescher Markt, Berlin True Religion Mnzstrasse, Berlin
Karstadt-Haus department store, which has already opened. After
Zara relocates to Boulevard Berlin, Primark will be moving into the
Schlossstrasse mall.
Between Potsdamer Platz and Alexanderplatz
The frst tenants have been announced for the shopping mall on
Berlins Leipziger Platz that was a joint venture of Orco and High
Gain House Investment (HGHI). The Inditex Group will be opening
a 2,000 square metre Zara store in the mall, where Esprit will be
leasing a 1,448 square metre space and Tommy Hilfger will have
a franchise store. According to HGHI, 80 % of the malls 52,000
square metres of retail space has been rented. Construction of the
450 million euro mall began in January 2011 and the facility is sla-
ted to open in late 2013 or early 2014.
Friedrichstrasse loses high-end retailers
The aforementioned evolutions appear to be working to the detri-
ment of Berlins Friedrichstrasse, where Gucci and Yves Saint
Laurent shuttererd their stores at Quartier 206. Hublot also sent
a signal by relocating to Kurfrstendamm. It will also be interes-
ting to see what Louis Vuitton decides to do when its lease expires
next year. It appears likely that an increasing number of consumer
goods stores will be opening on Friedrichstrasse.
Berlin Mitte tremendous potential
Karl-Heinz Mller gave himself a birthday present by opening, in
partnership with Hamburg manufacturers, the frst Closed by 14
oz. store on Alte Schnhauser Strasse in the Berlin-Mitte district.
The 140 square metre store features a new and distinctive retail
concept that combines Closed collections with the 14 oz. philo-
sophy.
Mango, Primark, Scotch and Soda,
Pointer
In early 2011 Mango opened a new Berlin store
at Rosenthaler Strasse.
Primark will be opening a 6,500 square metre
store in the heart of Berlin at Alexanderplatz 3.
The property was previously occupied by Sa-
turn, which operates another store on Alexand-
erplatz. As noted, Primark will be opening a new
store at the Schlossstrasse mall.
The Dutch young-fashion retailer Scotch &
Soda opened its frst Berlin store in July 2011 in
a 150 square metre space at Mnzstrasse 14-
16 on Hackescher Markt.
And in the same month, the London-based
shoe retailer Pointer celebrated the opening of
its frst international store on Mnzstrasse.
95
Pointer Shoes Mnzstrasse, Berlin
The around 100 square metre store carries not only stylish snea-
kers, but also clothing and accessories from other retailers such
as Bleu de Paname, Barbour, Garbstore, Heritage Research and
Anderson. (Source: Textilwirtschaft)
Timberland, True Religion and Eastpak
In the summer of 2011 Timberland opened a 300 square metre
store on Friedrichstrasse. In July 2011, the denim retailer True Re-
ligion opened its third German store, at Mnzstrasse, the other two
being in Cologne and Hamburg. In early July, the marketing agency
Styleheads celebrated with Eastpak the opening of a 70 square
metre store.
Sandro and Maje makes its German debut
The French fashion retail chain Sandro and Maje opened their frst
German store in May 2011 at Rosenthaler Strasse in Berlin-Mitte.
A second store is slated for opening in the latter half of 2012 on
Friedrichstrasse.
AllSaints Spitalfelds opens its second store in Berlin
Having moved forward with its German expansion program by ope-
ning an additional store in Berlin in late 2010, the British young-fa-
shion retailer AllSaints Spitalfelds has now opened another store
at Rosenthalerstrasse in a 1,000 square metre space. The company
has a third store on Friedrichstrasse in Berlin.
Ellesse opens fagship store in Berlin
In October 2011, Ellesse opened its frst European fagship store at
Weinmeisterstrasse in Berlin-Mitte. Ellesse, an Italian sportswear
retailer that is a member of Britains Pentland Group, has only one
other fagship store of this type, in Japan. The interior design of the
100 square metre space is modelled on that of a sports arena.
Location Group moves to Berlin
The branch that the Location Group will be opening in Berlin will be
an exciting colourful addition to Berlin, which many consider to be
Europes liveliest metropolis.
AllSaintsSpitalfeldsRosenthalerStrasse,Berlin
Frequency downtown Berlin (per day in 1,000)
Brandenburger Tor, Friedrichstrasse, Kurfrstendamm
20 30 40 50 60 70 80+
96
7KH5HWDLO5HDO(VWDWH1HWZRUN
97
19
Munich the top address for international
retail chains
.
Joseph-Pschorr-HouseNeuhauserStrasse,Munich
MUNICH is the capital of the German state of Bavaria and Germanys
third largest city after Berlin and Hamburg. The Munich metropoli-
tan area has around 5.1 million inhabitants and is regarded as one
of Europes most affuent conurbations. Munich has the highest
purchasing power of all major German cities, along with the lowest
unemployment rate. In addition, the citys population is expected to
grow by around 300,000 next year.
Nearly 15,000 passers-by an hour have been counted at peak times
in the most desirable areas of the Kaufnger Strasse and Neuhau-
ser Strasse pedestrian zones. This outstanding frequentation rate is
also refected by the fact that Munichs downtown stores generate
sales of 6,300 euro per square metre a year, the highest in Germany.
The choicest locations for consumer goods stores in Munichs best
frequented shopping areas with the highest per square metre sales
are on Kaufnger Strasse, Neuhauserstrasse and Marienplatz whe-
re the international-retailer stores are located. The denizens here
include, to name but a few, Apple, Esprit, Kaufhof (the companys
highest sales volume branch) and Karstadt with its building on
Oberpollinger, which was recently transformed into a world-class
facility. Oberpollinger is one of the worlds most expensive top 10
shopping streets.
Forever 21 to pay annual rent amounting to 7,8 million
euro for a space at Joseph-Pschorr-Haus
Upgrading the Joseph-Pschorr-Haus at Neuhauser Strasse 19-21
has heightened the propertys appeal. The facilitys new tenants in-
clude its anchor tenant Sport Scheck, which leases 10,000 square
metres, and Mango which has 2,300. The US retail chain Forever
21 will reportedly be paying 650,000 euro a month rent for its 6,800
square metre fagship store, which will be opening in 2013.
Deichmann will be opening an 800 square metre store at Neuhauser
Strasse 47 in 2012.
In addition to its Neuhauser Strasse location, Mango will also be
opening a 700 square metre branch in Maendler-Haus on Theatiner-
strasse. According to an informed source that entered into negoti-
ations to lease the space but then withdrew, Mango will be paying
astronomical rent for the space. After 76 years at the same location
at Theatinerstrasse 7 in Munich, Michael Maendler will be reloca-
ting his womens fashions store. We have a number of options and
expect to be relocating soon, said Mr. Maendler, whose current lea-
se expires in mid 2012.
Munich more luxury stores than any other German city
Maximilianstrasse and Perusastrasse are the quintessence of a
luxury shopping street, although Perusastrasse is far more frequen-
98
Maendler & Zara Theatinerstrasse, Munich
Tom Ford Falckenbergstrasse, Munich
Bottega Veneta Maximilianstrasse, Munich
ted thanks to its proximity to Marienplatz and Theatinerstrasse. The
high-end retailers with outposts on these streets include, to name
but a few, Gucci, Dolce & Gabbana, Jil Sander, Louis Vuitton, Monc-
ler, Prada and Ermenegildo Zegna.
Coming in 2013 Louis Vuitton Maison
A Louis Vuitton Maison store whose opening is slated for the fall of
2013 is currently being shopftted in the former Residenzpost at the
corner of Maximilianstrasse and Residenzstrasse.
Tom Ford will be opening, with Marion Heinrich, his frst womens
store in Munich, at the corner of Maximilianstrasse and Falcken-
bergstrasse.
Rents at this location average 250 euro per square metre.
Panerai opened the frst store in Germany in Munich
Offcine Panerai has opened its frst boutique in Munich on Maximi-
lianstrasse, the world-famous luxury-shopping street, next to Guc-
ci. The boutique offers customers and enthusiasts an understated,
elegant ambiance in which to see and purchase all the models in the
Panerai collections as well as the Italian luxury watch brands most
sought-after special editions. The new 35-square-metre Panerai
boutique in Munich has a simple, classic Italian-style environment.
Schlichting to reopen on Maximilianstrasse
Four decades ago, the venerable family owned company Schlichting
was a permanent fxture of the former Rathauslichtspiele building,
which is right near Frauenkirche. But the company decided to em-
bark upon an ambitious relocation, and since August 2011 has been
servicing its customers in an exclusive venue on Maximilianstrasse
(at Karl-Scharnagl-Ring).
This relocation is of pivotal importance to Schlichting, since the
1,200 square metres of space in the new location offer more room
for quality maternity and childrens products, which Schichting also
sells beyond the borders of Munich.
Moncler opens frst German store in Munich
The Italian sportswear maker and down specialist Moncler opened
its frst German monolabel store in December 2010. Moncler CEO
Remo Ruffni took over 110 square metres of the space, which re-
presents half of the existing Bally store on Munichs Maximilianst-
rasse. Shopftting is about to get underway. Itll be a small store,
but its the right location, says Mr. Ruffni. He also points out that
this project is fully in keeping with his strategy of focusing solely
on exclusive winter sports locations, since, as he says, Munich is a
luxurious alpine city.
99
Apple Flagship-Store opposite to Marienplatz, Munich
Apple opening December 2008 Rosenstrasse, Munich
Ermenegildo Zegna takes over from Rena Lange
In December 2010, the Italian outftter Ermenegildo Zegna, which
already has stores in Dusseldorf, Hamburg and Hannover, opened its
sixth German store, on Maximilianstrasse in Munich. The companys
visionary founder, Ermenegildo Zegna, was honoured on the occasi-
on of the companys centenary anniversary.
Bottega Veneta opens store
Munichs Maximilianstrasse acquired a magnifcent new boutique
in March 2010 when Bottega Veneta celebrated the opening of its
new location in the former Gianfranco Ferr space, with glamorous
guests in attendance and champagne for all.
Bottega Veneta Creative Director Tomas Maier turned up to perso-
nally dedicate the store, which he designed in a manner that is true
to the Italian companys dictum that all interior-design elements
must be made to order. The results speak for themselves. The new
split-level boutique has nearly 260 square metres of foor space,
ultrasuede-covered walls, New Zealand-wool carpeting, elegant
rounded hardwood tables, leather-covered doors, and minimalist
display cases.
Yves Saint Laurent takes over from Bottega Veneta
Yves Saint Laurent, a member of the Gucci Group, opened its frst
Munich store in June in a 50 square metre space on Maximilianst-
rasse that YSL took over from Bottega Veneta.
Theatinerstrasse, Weinstrasse, and Rosenstrasse much
in demand
Theatinerstrasse, Weinstrasse and Rosenstrasse comprise an ad-
ditional key shopping area in downtown Munich and the citys third
most expensive retail district one favoured by high-end retailers
such as Emporio Armani, Dolce & Gabbana, Stefanel, Laurl, and
Massimo Dutti, whose stores are aimed at an affuent clientele. This
shopping destination has been bolstered in recent years by the ope-
ning of Passage Fnf Hfe at Schfferhof.
100
Akris Dienerstrasse, Munich
Future A&F location Hofstatt, Munich
Rosenstrasse is a short street that connects Marienplatz and Send-
linger Strasse and that is mainly known for its Sport Schuster store
and the opening of the Apple fagship store. Small retail spaces in
this area go for 230 euro per square metre.
Residenzstrasse and Dienerstrasse a connecting link
Residenzstrasse and Dienerstrasse form a connecting link between
the high-end establishments on Maximilianstrasse and the consu-
mer goods stores on Marienplatz and Kaufnger Strasse. The mag-
nets in this middle-class shopping area include Dallmayr, Manufac-
tum, Willy Bogner and Eduard Meier. Among the areas new tenants
are Akris, which in August 2011 took over Golfnos 350 square metre
space on Residenzstrasse. Golfno then moved down the street to
the former Nespresso store.
At the time this report went to press, the successor to the space
next to Louis Vuitton in the former Residenzpost had yet to be an-
nounced. Rents in this area average around 185 euro per square
metre.
Abercrombie & Fitch to pay 2.8 million euro a year rent
on Sendlinger Strasse
According to informed sources, Abercrombie & Fitch will be paying
240,000 euro a month for its Sendlinger Strasse store in Munich,
which is slated to open in late 2012. The companys affliate Hollister
will be moving in next door. Rents for small spaces on Sendlinger
Strasse range up to 330 euro per square metre.
Sendlinger Strasse is the only trendy street whose branch ratio has
risen. Konen, a fashion retailer that is well known beyond the bor-
ders of Bavaria, has ploughed a considerable amount of money into
shopftting its store and is prepared to handle the anticipated ons-
laught of customers. Rents here range around 160 euro per square
metre.
The main feature of Tal (which is the extension of Marienplatz and
ends at Isartor) is its restaurants, with the only retailer that exerts
a draw being the large drugstore discounter Mller. Rents here are
moderate, i.e. around 130 euro per square metre. Tals appeal will be
enhanced in the coming years by construction of a bicycle-friendly
pedestrian zone.
When will we fnally arrive in the South?
(by Reinhard Peneder)
When will we fnally arrive in the south?, was a question often
asked by Globetrotters Bavarian catalogue and online customers.
Fast-forward 12 years: ber globetrotters Thomas Lipke and An-
dreas Bartmann were in search of a suitable Munich location for
Globetrotter, and ultimately found what they were looking for; but
in so doing they remained true to their credo of prioritising chal-
lenging properties. Their Munich location is in the former Pelzhaus
Rieger, right near Isartor. It took some doing to create a store that
is both spacious and exciting. To meet the building inspectors re-
quirements, it was even necessary to realise a public walkway. The
extensive effort and expense (8 million euro) that went into the pro-
ject paid off. Architect Holger Moths recently implemented new ar-
chitectonic and design measures.
101
Globetrotter Isartor, Munich
In March 2011, Hamburg-based Globetrotter opened a new 6 500
square metre outdoor clothing and equipment store in Munich, and
a second store opened in Dresden in the fall of that year. A third
store is set to open in Frankfurt in 2012.
Apart from the spaciousness of the stores four levels, whats most
impressive about this Globestrotter store are the myriad details,
both large and small, that make a Globetrotter store unique. Notab-
le among the larger details is the 458 square metre countercurrent
action pool in the basement, where customers can try out folding
canoes, kayaks and conventional canoes under realistic conditions.
A 60 metre-long wall displays all 350 models in Globetrotters foot-
wear portfolio. A glass climbing tunnel with a 74 square metre boul-
der surface, plus a rain chamber with a wind machine, also entice
customers to try out Globetrotter products for themselves. And the-
re is also a 260 square metre play area for mini-Globetrotters. But
the stores true sensation is undoubtedly its 125 square metre-high
cold chamber, where the climatic conditions of Arctic treks and ex-
peditions are simulated at frigid temperatures. This apparatus ena-
bles customers to try out Globetrotter clothing and equipment right
at the store and to obtain training devices for their next expedition.
Leopoldstrasse and Hohenzollernstrasse the sole top
locations outside the centre of Munich
These two streets delimit the Schwabinger The district, which tends
to attract a younger crowd that enjoys partying, but also has consi-
derable disposable income. The stores in Munichs trendy Schwa-
bing district are a mix of international retail chains and consumer
products stores such as Karstadt, Zara, Esprit, COS and Tengel-
mann, as well as various cafes and restaurants.
Other changes that have already occurred or are in the offng inclu-
de the following; Leopoldstrasse 57 (Woolworths) and 59-61 (Post-
bank); Leopoldstrasse 37 in conjunction with Hohenzollernstrasse 3
(Commerzbank and Hohenzollernpassage); and Leopoldstrasse 23.
New tenants include COS, Jack & Jones/Vero Moda, Vans, s.Oliver
Selection, Palmers, Gerry Weber, Oska and Bench. Retail space cur-
rently rents for around 105 euro per square metre.
Lack of shopping malls
On closer scrutiny, the paucity of shopping malls in the centre of
Munich is highly benefcial for classic top-notch retail locations in
that Munich, which has so much to offer and whose importance ex-
tends beyond its own borders, has a genuinely manageable number
of shopping malls.
102
20
Hamburg, Bottega Veneta & Burberry with
new locations
.
Mnckebergstrasse Hamburg
Apple opening Jungfernstieg, Hamburg Alte Post Hamburg
As Germanys third largest city, HAMBURG is often mentioned in
the same breath as Munich when international retailers discuss
the possibility of opening stores in Germany.
Hamburg has a population of more than 1.7 million, and its 8 % un-
employment rate is one of the lowest in Germany. Hamburgs high
retail sales to retail purchasing power ratio underscores the infu-
ence it exerts on the surrounding area and the large numbers of
tourists that the city attracts year in and year out. Hamburgs stra-
tegy aims to further strengthen Hamburgs image as a world-class
metropolis and bolster its international appeal. Hamburg and en-
virons already count as one of Europes most successful economic
regions and have demonstrably high economic potential.
Major potential across more than 350,000 square metres
Downtown Hamburg contains two highly frequented shopping are-
as, City Ost and City West, with aggregate retail space amounting
to around 350,000 square metres. Rathausmarkt and the Europa-
passage shopping mall are located inbetween and link these two
areas.
Spitaler Strasse and Mnckebergstrasse, which contain more
than 250,000 square metres of retail space and are Hamburgs
main shopping streets, are home to all prominent department
stores, as well as the fagship stores of large retailers. As these
streets are both well frequented, store rents ranging up to 280 euro
per square metre for small spaces (e.g. on Spitalerstrasse) enable
storeowners to readily recoup their rent and then some.
City West, by contrast, is Hamburgs luxury and premium goods
zone and offers its affuent clientele retail stores spread across
nearly 100,000 square metres of retail space. However, this shop-
ping area has recently changed a great deal, from a luxury shopping
street along the lines of Maximilianstrasse in Munich, to a fashion
oriented shopping area but one whose clientele has considerab-
le purchasing power. The advent of Abercrombie & Fitch, Apple and
Tommy Hilfger underscores this trend.
103
Peak Performance Poststrasse, Hamburg
Burberry moves into a new location
after a three year wait
Burberry relocated from its temporary
quarters on Grosse Bleiche to its new 650
square metre store on Neuer Wall that was
formerly home to BoConcept. Three years
ago, Burberry lost its former space on Neuer
Wall, which is now the Geox fagship store.

Bottega Veneta expands
Bottega Venetas new 260 square metre
store, which is considerably larger than
its former digs, was designed by Creative
Director Tomas Maier. All interior-design
elements such as hardwood tables, steel
and palm-wood display cases and fabric-
covered pull-out presentation trays were
made to order.
Scotch & Soda opts for B-location on
Neuer Wall
The Dutch young-fashion retailer Scotch &
Soda opened a new store in a peripheral,
split-level 328 square metre location, whe-
re the store carries Scotch & Soda, Maison
Scotch, Scotch Shrunk and Scotch pro-
ducts.
Largest Apple Store in Germany
The new Apple Store is a veritable temple
of glass and steel in one of Hamburgs cho-
icest retail locations. This, Apples seventh
German store and its largest to date (2,000
square metres), opened on Jungfernstieg
in Hamburg in September 2011. A gaggle
of Apple enthusiasts spent the night befo-
re the opening in sleeping bags outside the
store in drizzly weather so as to be the frst
inside.
104
Zara Home Grosse Bleichen, Hamburg
An Abercrombie & Fitch store in Alte Post
The presence of Abercrombie & Fitch in Alte Post has brought
about a visible change in this historic building, where Abercrombie
& Fitch is leasing around 2,000 square metres of retail space. Alte
Post is also home to Tommy Hilfgers fagship store, whose 650
square metres of retail space extends over two levels. Stuart Weit-
zman also moved into Alte Post in November 2011.
In the spring of 2012, Sandro will be opening a new 170 square
metre store (its second in Germany) on Poststrasse.
Outdoor brands Peak Performance and The North Face
This area of downtown Hamburg will be further strengthened when
Peak Performance opens its 255 square metre store in the Postst-
rassse building.
One of its competitors, The North Face, will be opening a 210
square metre space not far away in the Hanseviertel district on
Poststrasse.
Zara Home right nearby
Hamburg is one of the lynchpins of the Spain-based Inditex Groups
ambitious German expansion plans. In the fall of 2011, one of the
frst Zara Home stores opened on Grosse Bleichen in the former
Olymp & Hades space.
Adidas Neo and Superdry
Hamburgians are no doubt excited about the upcoming opening of
an Abercrombie & Fitch store and an Adidas Neo Brand store, as
well as the coming of Superdry, which will likewise be making its
downtown Hamburg debut in 2012, with a 260 square metre store
on Gnsemarktpasssage.
Rents over the past decade
Rents in Hamburgs best downtown retail locations have risen by
around 17 % over the past decade, and on Spitalerstrasse now
range up to 280 euro per square metre a month.
The French retailer Promod will be opening its second Hamburg
store on Spitalerstrasse, where other retailers also plan to open
stores.
The fashion jewellery and accessories retailer Elf Craft opened its
frst fagship store in Hamburg. The store has 100 square metres
of retail space and is located at ABC-Strasse, which is a top lo-
cation.
105
21
Cologne, Bershka opens second German
fagship store
.
Schildergasse, Cologne
COLOGNE is Germanys fourth largest city and according to offcial
statistics is undergoing noticeably slower demographic change
than many other German cities. Thus the proportion of the popula-
tion that is over 65 is far below the average for Germany as a whole.
The citys population is also growing.
According to offcial statistics, as at 31st May, 2010 Cologne re-
gained the status of being Germanys fourth city with more than
a million inhabitants 1,000,298 to be exact. Both of these phe-
nomena steady population growth and the slower aging rate of
the citys population are attributable to a steady infux of college
students, job trainees, and young job seekers, who keep the aver-
age age down and also help to swell the citys population. There are
various reasons for this.
Starting at the Dom (cathedral), the most desirable retail locations
are found between Hohe Strasse and Schildergasse, as well as to-
ward Neumarkt. The most popular retail venue has always been
Schildergasse, and remains so today, although other shopping
streets such as Ehrenstrasse and Breiten Strasse are also very
much in demand by both international retail chains and consumer-
goods merchants. Most of the citys restaurants are located on
Wallrafplatz, just in front of the Dom, as well as on parts of Schil-
dergasse. At Neumarkt and the adjoining Mittelstrasse is a superb
commercial area.
Over the past decade, average peak rents have increased by around
58 %. In the best locations, an 80 to 120 square metre store that is
conducive to retailing now goes for up to 260 euro per square met-
re. Thus Schildergasse is less expensive than Schadowstrasse in
Dusseldorf (rents up to 230 euro per square metre); only the most
desirable locations in Munich, Hamburg and Berlin cost more.
106
NordseeHoheStrasse,Cologne
Bershka Schildergasse, Cologne
107
Schildergasse, Cologne
Rewe 2 Go
Food stores are increasingly seeking moderate sized spaces in
downtown locations that offer greater convenience. This trend
prompted Rewe to begin testing out its new concept for highly
frequented locations: Rewe to Go. Located at the corner of Hohe
Strasse and Schildergasse in Cologne, the 130 square metres Rewe
To Go store offers more than 1,000 items for customers in need of
a snack or light meal. Rewe is now competing with McDonalds,
Starbucks and other fast food purveyors for the hearts, minds and
palates of customers who are pressed for time.
Bershka opens second German fagship store
Bershka (a member of the Inditex Group) opened its second store
in Germany on Colognes Schildergasse, in a 600 square metre
split level space that features a luminous ambience. One of the
most appealing features of the store is its glass facades, which at
night look like oversized shop windows.
Ecco replaces Clarks, Desigual replaces Ecco, and Gina
Tricot replaces Colloseum
The Danish shoe retailer Ecco recently relocated to a new 180
square metre downtown store at Breite Strasse where it took over
the former location of the British shoe retailer Clarks. The former
Ecco store, which was considerably larger (700 square metres) and
was in the building complex at Schildergasse 105a, is now being
leased by the fashion retailer Desigual.
A few weeks earlier, Gina Tricot, a Swedish clothing label thats
currently all the rage, opened a store in Cologne and in so doing
inaugurated its German expansion program. The store is located
in the Schildergasse space previously occupied by the fashion re-
tailer Colloseum.
Promod property in the pipeline
It will take the general contractor Hochtief at least until summer to
complete the building at the corner of Schildergasse and Kreuzgas-
se, where a four-story offce and retail complex with around 1,800
square metres of retail space is currently being constructed on an
around 640 square metre site. The former tenant, Promod, will be
moving back into the building once it has been completed.
Fielmann builds itself a supercenter
A few doors down on Schildergasse, the eyewear retailer Fielmann
will be moving into its new building by the end of the year. Accor-
ding to Fielmann, the six-story building, which the company calls a
supercenter, will have 850 square metres of usable space.
Esprit property on Hohe Strasse sold
EPI Walkabout sold the offce and retail complex at Hohe Strasse
to Grundvermgen Kapitalanlagegesellschaft of Aachen. Since the
2007 conversion, Esprit has been leasing the buildings 700 square
metre retail space.
Mittelstrasse on the move
Colognes Mittelstrasse was the scene of two other premiers. The
Swiss undergarment retailer Calida opened its frst Aubade store in
an around 70 square metre space formerly leased by The Pashmina
Shop; and the cashmere retailer Repeat signed a lease on a more
than 300 square metre space in the same building, at Mittelstrasse
1, that was formerly occupied by the fashion retailer Robert Ley.
Comma (a member of the s.Oliver Group) also plans to open a 250
square metre store on Mittelstrasse.
The new 150 square metre Basler store in Cologne will be imbued
with the brands updated image, to which end the store is deco-
rated in warm, subtle colours. Furnishings made of whitewood, in
slate gray, and made of bronzed glass will provide a mixture of ele-
gance and glamour.
Navyboot rolled out its new shopftting concept at its new Cologne
store, which opened in December 2011, likewise on Mittelstrasse.
The 120 square metre space features a mix of classic and modern
elements, such as Le Corbusier armchairs with violet metallic
frames. The Swarovski luminaries that were made especially for
Navyboot are a real eye catcher.
Bazaar de Cologne sold to an investor
The former Bazaar de Cologne at Mittelstrasse in Cologne was sold
to an investor by the real estate company that owned the property.
108
Hohe Strasse, Cologne
NavybootMittelstrasse,Cologne
The around 15,000 square metre building has an around 80 square
metre storefront on Mittelstrasse, and about a third of the buil-
ding is given over to retail space. Bazaar de Cologne was founded
in 1981 under the somewhat unwieldy name Einkaufs-Adresse von
Weltstadt-Format (world-class shopping venue). The buildings
glass-roofed inner courtyard accommodated some 60 stores and
restaurants.
Ehrenstrasse in great demand
The Deutsche Telekom store called 4010 on Ehrenstrasse is the
telecom operators second store (after Berlin) for which the com-
pany decided to roll out its new retail concept. The store in the
around 260 square metre space that it is leasing at Ehrenstrasse
was the former Garcia jeans store.
Having failed to win the hearts and minds of customers in its dimly
lit and noisy stores in Frankfurt, Dusseldorf and Oldenburg, Esprit
has jettisoned this concept and will be testing out three new ones,
one of which is now on view in Cologne at Esprits Ehrenstrasse
store, which is light, congenial and natural. The stores homey at-
mosphere is mainly attributable to its brick walls, ethnic-motif
carpeting, abundant use of wood, and the congenial lighting pro-
vided by the stores rattan lamps.

109
Wallraffplatz Cologne
E100
The around 8 million euro Development Partner AG building at Eh-
renstrasse 100 (E100 for short) is nearly complete. Development
Partner carried out the project in its capacity as general contractor
for a private investor. Designed by Architektenbro Schilling of Co-
logne, E100 will feature around 440 square metres of retail space
on two levels.
The commercial property at Ehrenstrasse 35a-38 is also being re-
developed, and on completion of the construction work two retail
spaces will be available there.
Other developments at top retail locations
Previously, the British retailer Monsoon Accessorize opened its
third Cologne store in the adjacent 100 square metre space in the
same building, where it took over from E-Plus. Vodafone has now
opened a 180 square metre store on Breiten Strasse in the former
Mommen jewellery store.
Butlers has leased a 520 square metre three-level store next door
at Krebsgasse that was previously home to Spielkauf and that is
slated to open in the spring.
The store of the porcelain manufacturer Meissen has moved to a
location near the Dom (cathedral) at Wallrafplatz, where Meissen
took over from Cartier. Starbucks has moved into Meissens old
space at In der Hhle 4 at the corner of Hohe Strasse and Schil-
dergasse.
Hollister will be opening its frst Cologne store at the Rheincenter
mall, which is operated by ECE and is located in Cologne/Weiden,
where Hollister took over the upper level of the C&A store.
Store rents at top locations in the centre of Cologne
Per square metre rents for small stores shape up as follows: 70 to
85 euro on Neumarkt; 190 to 260 euro on Schildergasse; 160 to 220
euro on Hohe Strasse; and for the bargain conscious 55 to 80 euro
on Breiten Strasse for comparable spaces, and up to 95 euro on
Ehrenstrasse for 80 to 120 square metre spaces.
But inasmuch as the supply of available retail spaces in Hamburg,
Munich and Berlin is shrinking steadily, leading retailers are inc-
reasingly looking at spaces in Cologne, as the opening of the frst
Gina Tricot and Repeat boutiques and a Deutsche Telekom store
with its new 4010 concept show.
110
22
Frankfurt, Zara Home and H&M Home opened
in Frankfurt
.
H&M Home Zeil, Frankfurt
FRANKFURT, Germanys ffth largest city, is located in the Rhine-
Main region, whose quality of life is virtually unmatched in Germa-
ny, making it one of the countrys most desirable places to live and
work. While Berlin is currently ranked as Germanys hippest city,
Frankfurt is catching up fast in this department and is becoming a
springboard for hip store concepts such as those embodied by the
stores of upscale international retail chains like Zara Home, Jimmy
Choo and Urban Outftters. This phenomenon is also driving store
rents upward.
Goethestrasse a luxury shopping street
Goethestrasse is a shopping Mecca where customers on the look-
out for luxury goods can fnd just about anything their heart desires.
Virtually all high-end retailers such as Prada, Gucci and Louis Vuit-
ton have outposts on this street. At Goethestrasse 7 Aigner opened
an around 100 square metre store on the former premises of Vakko
GmbH, while the former Aigner Store was taken over by the French
retailer Longchamp. Hackett London also has a 215 square metre
fagship store on Goethestrasse next door to Nespresso.
Porsche Design and Wellensteyn
Porsche Design opened a 150 square metre store in September on
Grosse Bockenheimer Strasse. The jacket retailer Wellensteyn
opened a Frankfurt store on Rossmarkt during the Christmas
season in the former Pal Zileri space.
Primark to open second Frankfurt store
Primark is stepping up the pace of its German expansion program,
and has now leased its frst store at a top Frankfurt location. Ac-
cording to unconfrmed reports from informed sources, the Irish
discounter also plans to open a Frankfurt store in the former Wool-
worths on Zeil, and will be inaugurating this around 4,000 square
metre store in the fall of 2012.
Brigitte von Boch, Calida, Linus and Muji
A whole host of retailers has opened new stores that are inters-
persed between Frankfurts choicest locations. For example Bri-
gitte von Boch opened a 200 square metre store on Friedenstras-
se, Calida opened a new 100 square metre store at Piquadro on
Steinstrasse, and Linus and Muji each opened a 350 square metre
store on Kaiserstrasse.
High rents in Frankfurt
The robust purchasing power that characterises Frankfurt and the
attendant high per square metre sales are driving Frankfurt retail
rents to as high as 275 euro per square metre a month for choice
locations. Zeil is one of Germanys highest-rent shopping streets.
Shopping malls in Frankfurt going great guns
Redevelopment of the Zeilgalerie district was recently comple-
ted, thus making the MyZeil shopping mall a pivotal shopping de-
stination in downtown Frankfurt, since the next pioneering retail
store will either soon be opening there or is already in the pipe-
line. Germanys largest shopping mall operator has begun leasing
space in its new prestigious Frankfurt mall, Skyline Plaza, which is
slated to open in 2014 and is located between the downtown area
and the Frankfurter Messe trade show and convention centre. This
location is no accident, since the most prominent retailers are on
the lookout for terrifc store spaces in the downtown areas choice
locations.
Main-Taunus-Zentrum in Sulzbach was recently modernized and
expanded, and after two years of construction the malls new north
wing is now complete. The opening of 70 new stores brings the total
number of retailers in the mall to 170, and the addition of 12,000
square metres of retail space brings the malls total retail space to
91 000 square metres. The project partners ECE, DWS Investments
and Deutsche Euro Shop invested around 75 million euro in moder-
nizing and expanding the mall.
The malls anchor tenants are now Galeria Kaufhof, Peek & Clop-
penburg Dusseldorf, Karstadt, Breuninger, H&M, and New Yorker,
the latter two of which expanded their space on completion of the
remodelling project. The malls new tenants include Bench, Hallhu-
ber, Jack Wolfskin, G-Star, Levis, Esprit Men, Gant, Campus, Apple
and Hollister. However, as is its wont, the American vendor will not
be opening until a week later. According to the mall operator, ECE,
there are currently no vacancies.
111
UrbanOutfttersRossmarkt,Frankfurt Hackett Goethestrasse, Frankfurt
MyZeil Shopping Center Zeil, Frankfurt
112
23
Stuttgart, ECE in search of parking lots
at the main train station
.
Schlossplatz on the Knigstrasse, Stuttgart
Yeanshalle Knigstrasse, Stuttgart
STUTTGART, the capital of the German sta-
te (Land) of Baden-Wrttemberg, has a po-
pulation of 600,000, is Germanys sixth lar-
gest city and comprises the core of Region
Stuttgart (the Stuttgart metropolitan region)
which has around 2,7 million inhabitants.
Some 16,000 square metres of retail space
have been rented out in downtown Stuttgart
over the past 12 months. Store rents are ri-
sing due to the fact that choice locations in
the centre of Stuttgart are in great demand
but are hard to come by.
Stuttgarts main shopping district is the
more than 1,200 metre long pedestrian zone,
Knigstrasse, which is one of Germanys
most frequented streets and wends its way
from the Hauptbahnhof (main train station)
through Schlossplatz, ending at Wilhelms-
bau. Maximum store rents here have risen
over the past fve years from 230 to 250 euro
per square metre for small spaces (up to 200
square metres).
113
s.OliverKnigstrasse,Stuttgart
Tom Tailor Knigstrasse, Stuttgart
Kronprinzbau, Stuttgart
Little tenancy churn in Knigstrasse
The most noteworthy change on Knigstrasse occurred at the lower
end of the street, when Yeans Halle took over from K & L Ruppert.
This change is also noteworthy by virtue of the fact that a regional
retailer got the nod for the 3,600 square metre space, which Yeans
Halle has turned into an exciting and innovative store.
s.Oliver and Stefanel replace Adidas and Puma
respectively
A likewise signifcant phenomenon is the fact that s.Oliver and Ste-
fanel replaced Adidas and Puma respectively. s.Oliver took over the
1,000 square metre Adidas store in December 2010, and created
there a new concept store format that is also the retailers fagship.
A life-sized deer is prominently featured in a scene depicted on the
upholstery of a Chesterfeld sofa, along with white-burnished trees,
wild geese and an old motorcycle. Stefanel opened a 500 square
metre store in late 2010 in the former Puma store.
Douglas swaps spaces with H&M
In the spring of 2011, H&M took over the former Parfmerie Doug-
las store next door to s.Oliver, while on the other side of Stiftstrasse
Douglas moved into a space that was formerly leased by H&M and
before that by Gap.
Other new arrivals include Tally Weijl and Promod, each of which has
leased part of the former Tack shoe store. Retail space demand and
rent are currently stable and little increase in either variable has
been observed. Space on Knigstrasse can be leased up to two ye-
ars prior to completion of the relevant building.
In February 2011, Tom Taylor opened a 350 square metre fagship
store on Knigsstrasse that was formerly leased by Sasch.
Marith & Franois Girbaud new arrivals on Calwer
Strasse
Calwer Strasse runs parallel to Knigstrasse between Kleiner
Schlossplatz and Rotebhlplatz and runs into Kienestrasse and
Kronprinzstrasse.
The Paris-based fashion house Marith & Franois Girbaud will be
opening its frst German store in January 2012 in a 200 square met-
re space on Calwerstrasse, where Ludwig Reiter and the cosmetics
and wellness product retailer Just Pure have also recently opened
stores.
Kronprinzbau a connecting link between Stiftstrasse
and Marktplatz
Completion of the new buildings Windows, Kronprinzbau 6 and
BX, along with the renovation of Kronprinzbau 8, now integrate this
entire area with Stiftstrasse and Marktplatz. A considerable num-
ber of new stores have opened here (but as in the past, without any
other new arrivals in the downtown area): Ren Lezard, Max Mara,
Frankonia Jagd, the new gourmet food emporium Bhm, Bree, Levis,
Max & Co., Strenesse Blue, Thomas Sabo and Bose.
114
TheNorthFaceLautenschlager/Kronenstrasse,Stuttgart
Schulstrasse Germanys frst pedestrian zone
Schulstrasse, which runs from Knigstrasse to Marktplatz (and is
also known as Fressgasse), was Germanys frst pedestrian zone
upon its construction in 1953, and features fashion, accessory, and
cellphone stores, as well as numerous bakeries, Imbisse (snack) lo-
cales, and fast food restaurants. In March, Tamaris shoes opened a
store on Schulstrasse near Marktplatz in the location of the former
bakery chain store Backwerk.
Outdoor outftters come to Stuttgart
The outdoor outftter Mammut opened a 250 square metre store at
Postquartier. In August, The North face opened a new 490 square
metre fagship store, likewise at Postquartier, at the corner of Lau-
tenschlager and Kronenstrasse. The outdoor clothing retailer Na-
papijri opened a 170 square metre store on Kirchstrasse in Novem-
ber 2011.
Breuninger to go it alone on Karlsplatz
(by Dagmar Lange)
The urban redevelopment project for Karlsplatz in downtown Stutt-
gart will end up looking different from what was originally planned.
The area will be developed by the Breuninger department store
chain, without the state of Baden-Wrttemberg. In exchange, Ba-
den-Wrttemberg will rent 20,000 square metres of offce space in
the new building.
Thus the tug of war concerning the so called Da Vinci urban rede-
velopment project for the area between Karlsplatz and Marktplatz
has come to an end and with it the envisaged joint venture between
Breuninger and the state (Land) of Baden-Wrttemberg.
The new Baden-Wrttemberg administration decided against con-
structing a ministry building in downtown Stuttgart on the grounds
that the hoped-for savings did not appear to be realistic. Also the
wind was taken out of the projects sails by disagreements among
city council members concerning the scope of the project as a who-
le. Now that the dust has settled, the consensus is that the Breunin-
ger department store chain will purchase the neighbouring building
complex at Dorotheenstrasse 6 from the state of Baden-Wrttem-
berg. The State Assemblys fnance and business committee has
approved the sale of this building complex, which is still being used
by the Baden-Wrttemberg Ministry of the Interior. According to
the newspaper Stuttgarter Zeitung, Breuninger will be paying 26.5
million euro (the propertys market value) for the 3,900 metres area.
The sale was concluded before the land-transfer tax increase went
into effect in November 2011. Breuninger plans to upgrade the area
around its fagship store on Marktplatz and expand it by 35,000
square metres, with a view to strengthening the stores position vis-
-vis the ECF mall that is to be built behind the main train station.
ECE in search of a parking lot at the main train station
(by Konstantin Schwarz)
Bahn AG is not the only player thats ready to kick off its Stuttgart 21
project, since three other developers will also be setting their bull-
dozers in motion over the next 12 months behind the Hauptbahnhof
(main train station). However, the original plans have been altered
somewhat.
The new municipal library will still be the dominant structure on
what is now a large vacant lot behind the train station. But the
around 40 metre high library will cease to be the sole structure in
2014, when a high-rise building that is taller than the library is con-
structed on the site.
The gray cube will have new neighbours on two sides, the frst of
them being Sparkassenakademie, which will adjoin the current Lan-
desbank (LBBW) offce complex. Sparkassenverband (SV) plans to
invest 80 million euro in a new training centre in the near future.
The Hamburg-based holding company ECE (Otto Group) and the
building contractors Strabag and Bayerische Hausbau are hamme-
ring out the fnal details for a 43,000 square metre shopping mall
115
BreuningerNeubauprojekt,Stuttgart
Planned ECE shopping center, Stuttgart
that will be built on the far side of the library. Offces and apart-
ments will be built above the mall, as will a hotel that will face Heil-
bronner Strasse.
Changes have been made in the tripartite ECE complex. The num-
ber of apartments has been reduced from 450 to 417, although the
43,100 square metres of foor space will remain exactly the same,
according to ECE project manager Jrg Wege, who indicated that the
number of four and fve room apartments has been increased with
the aim of attracting more families to the area. They will defnitely
remain rental units, said Mr. Wege.
The number of parking spaces has emerged as a sticking point for
the mall portion of the complex, which will have around 200 stores.
ECE had intended to construct 2,500 parking spaces, a plan ada-
mantly opposed by the city council, which ultimately gave the go-
ahead for only 1,680 spaces. Of these, around 500 will be reserved
for the apartments and other uses. But unfortunately, having only
around 1,100 parking spaces could be detrimental to the mall.
The exact number of parking spaces that will be available when the
mall opens, just before the lucrative Christmas season in 2014, is
currently uncertain. However a start date for the new commercial
area has been set.
116
24
Dusseldorf, Abercrombie & Fitch one hundred
male fashion models on Knigsallee
.
A&F opening Knigsallee, Dsseldorf SevensKnigsallee,Dsseldorf
DUSSELDORF, the capital of the state (Land) of North Rhine-West-
phalia and Germanys seventh largest city, is located in the heart of
the Rhine-Ruhr conurbation. As a centrally located European eco-
nomic centre, Dusseldorf, along with Frankfurt, Berlin, Hamburg
and Munich counts as one of Germanys fve most important and
robust economic, business, transport, cultural and political cen-
tres; they are known as the Big Five.
Dusseldorf is the most important German entry-level market (af-
ter Berlin) for international retail chains. In no other German city
of this size do more frst and second international retail branches
open their doors. Examples in Dusseldorf include Abercrombie &
Fitch, Brioni, Suit Supply, Lottusse, LeTanneur, 7 For All Mankind,
Rivira Maison and Michael Kors. Dusseldorfs leading position as
Germanys fashion capital is clearly attested to by the presence
of these new brand retailers. Thanks to Dusseldorfs distinctive
location, the city offers international retailers an optimal frame-
work for expansion, in large measure thanks to the robust health of
Dusseldorfs economy, as evidenced by its high purchasing power
and excellent retail sales to retail purchasing power ratio.
Abercrombie & Fitch 100 male fashion models on Knig-
sallee
Abercrombie & Fitch opened its frst German fagship store on 1
December at Knigsallee 17 in a four-level 2,500 square metre
space that was formerly home to HypoVereinsbank. A week befo-
re the stores offcial opening, Abercrombie & Fitch publicized the
event by parading 100 half-naked male fashion models on Knigs-
allee. Abercrombie & Fitch is reported to have invested 25 million
euro in the new store.
Brioni enters the German market and Michael Kors takes
over a Calvin Klein store
The Italian fashion retailer Brioni kicked off its German expansion
program by opening its frst store in Dusseldorf, where Brioni took
over a 300 square metre space formerly leased by Ren Lezard.
Next door the opening of a Michel Kors store was another notable
event. Michel Kors opened what is now its second German fag-
ship store in an around 460 square metre space that was formerly
a Calvin Klein store.
K-Galerie and Sevens revitalised
The increasing appeal to shoppers of Dusseldorfs downtown area
is not lost on its shopping mall operators. The K-Galerie and Se-
vens malls on Knigsallee were renovated in 2011. Saturn massi-
vely expanded its space at Sevens, which it now refers to as Home
of Saturn. K-Galerie is now home to Jacadi, Aigle, Wellendorff,
Thomas Sabo and other leading retailers with exciting shop con-
cepts.
117
Philipp Plein with models
Philipp Plein
Philipp Plein opened his frst German store on
Knigsallee
Philipp Plein opened his frst German store on Knigsallee in the
recently inaugurated Sevens shopping mall in Dusseldorf. The 230
square metre split level store is designed in classic Plein style.
Other noteworthy changes in Dusseldorfs Sevens mall on Knig-
sallee apart from the structural alterations include a revamped
tenant structure. At the entrance to the mall, Philipp Plein ope-
ned a split-level Desigual store in a former JOOP! shop. Emporio
Armani is another new arrival, having taken over from Strenesse.
The Italian retailer Napapijri opened a fagship store in the former
Tods.
Untere K new with Zara Home & Victorinox
A key event for the shopping street Knigsallee, whose lower re-
aches near the main train station tend to receive little attention
from customers, was the opening of Zara Home and Victorinox on
this part of the street.
In 2011, Zara Home opened its third German store at Knigsallee
56, while the home accessories retailer Inditex inaugurated a new
510 square metre store in the former Georges Rech space.
Next door to Zara Home the Swiss retailer Victorinox opened a th-
ree-level 1,000 square metre fagship store that carries everything
from knives to down jackets.
Top store rents in Dusseldorf currently range up to 230 euro per
square metre, which is the going rate on Knigsallee. Compensato-
ry payments are an everyday phenomenon here as well.
118
Future Primark location Schadowstrasse Dsseldorf
K-Bogen Dsseldorf
Breuninger is back
In late September, the high-end department store Breuninger ge-
nerated considerable excitement with the announcement that the
store will be returning to Dusseldorf as the main tenant at the K-
Bogen building, which was designed by Daniel Libeskind and whe-
re the Stuttgart-based company will be opening a 15,000 square
metre luxury department store. Breuningers Stuttgart fagship
store carries brands such as Dior, Marc Jacobs, Dolce & Gabba-
na, Akris, Stella McCartney, Chlo and Fendi. There is also talk of
Breuninger opening a 2,500 square metre shoe department. Other
retailers that have expressed an interest in renting space in the
K-Bogen building include Apple, Brunello Cucinelli and Hollister.
Primark to invest 80 million euro
Primark will be opening a four-level 6,500 square metre store at
Schadowstrasse 56 but not until the spring of 2013 in a six-
story building that is a few steps away from the planned K-Bogen
II building.
Virtually nothing has been done for years with the 2,200 square
metre site of the former Achenbachhaus, for which the frst pro-
ject fell through after the building was torn down. Afterward, not-
hing happened and there was no interest in developing the site.
Many saw this as a visible sign of the supposed deterioration of
the shopping street Schadowstrasse, whose stores were hard hit
by the numerous construction projects that were being realised on
the street. But now Development Partner plans to construct an 80
million euro building on the site.
Victorinox Dsseldorf
119
Victorinox Knigsallee Dsseldorf
Up and coming locations
Up and coming locations are to be found in the area around Gra-
benstrasse, which is currently a popular area for customized and
avant-garde shopftting concepts. The advantages of this area are
its proximity to stores that sell innovative fashions, as well as the
relatively low rents. New arrivals here include 7 For All Mankind,
LeTanneur and Lottusse. Despite ongoing construction work on
the Wehrhahn U-Bahn (subway) line, Primark, Sport Scheck and
Sportarena will undoubtedly act as a powerful and sustained cus-
tomer magnet on the eastern stretch of Schadowstrasse. Gina Tri-
cot recently debuted in Dusseldorf with two stores, one on Flinger
Strasse and the other on Schadowstrasse. The area around Carls-
platz is evolving into a shopping district with distinctive stores and
is thus attracting international retailers.
Adidas and Bento Box
Adidas will be opening a 300 square metre concept store in the
spring on Flingerstrasse in Dusseldorfs old town, which along with
Knigsallee and Schadowstrasse is also a well frequented down-
town Dusseldorf shopping district. The space was formerly leased
by the fast-food chain Nordsee.
Likewise in Dusseldorfs old town, on Berger Strasse, the Japanese
restaurant Bento Box opened its third German branch in the fall
of 2011, having previously opened eateries in Munich and Cologne.
Bento Box took over the 350 square metre space formerly leased
by the breakfast restaurant Le Pain Quotidien.
Huma-Einkaufspark mall in Neuss reborn as Rheinpark
Centre
ECE has completed renovation of the former Huma Einkaufspark
mall in Neuss, which has been renamed Rheinpark Centre. The
remodelled mall will open after 30 months of construction. The
three-level, 37,000 square metre mall contains 140 stores, cafes,
restaurants and service business and has more than 1,600 parking
spaces. The malls new anchor tenants in the fashion domain in-
clude C&A, H&M, Esprit and Hollister. Real, Saturn and P&C Dus-
seldorf had already opened their stores in February 2010 during
the frst construction phase. The renovation costs around 93 mil-
lion euro.
120
25
Dortmund with an exciting autumn to
look back on
.
Thier-Galerie Dortmund
DORTMUND, which is located in the state of North Rhine-West-
phalia, is the business and commercial centre of Westphalia.
With a population of around 580,000 is it the largest city in this
section of the state and in the Ruhr region.
Dortmund was once the centre of German heavy industry, where
over 100,000 jobs have been lost over the past decades.
A commercial renaissance in Dortmund
The most salient change in Dortmund can be seen in the retail
sector. The advent of Thier Galerie and Lensing Care are the best
known of a number of undertakings that have changed the face of
Dortmunds downtown area.
Dortmunds downtown area is still well frequented, although the
city has recently evolved into a veritable retail metropolis that
many shoppers from the surrounding areas visit on both week-
days and weekends.
Dortmunds top retail locations
Dortmunds downtown retail businesses generated sales amoun-
ting to 3,2 billion euro in 2010. The citys top retail locations con-
tain numerous high-calibre store spaces with modern and retail-
friendly amenities.
In addition to Westenhellweg, whose top retail spaces are located
between Peek & Cloppenburg and Galerie Kaufhof, parts of the
area between Ostenhellweg and Modehaus Vosschulte are also
in demand. The anchor tenants here are TK Maxx, C&A and dm
Drogeriemarkt.
Outstanding appeal forces rents upward
Store rents in Dortmunds top retail locations have increased 14
% over the past decade, with rents on some stretches of Westen-
hellweg now ranging up to 200 euro per square metre. These rents
are not subject to competition at least not in the Ruhr region.
The 120 euro per square metre store rents on Ostenhellweg seem
relatively moderate at frst glance, but are nonetheless higher
than for comparable spaces in Essen, Duisburg and Bochum.
Thalia takes over from Pohland, Fielmann expands
In March 2010, the Thalia bookstore took over the more than
1,800 square metre space formerly leased by the mens outftter
Pohland.
Fielmann concluded a new lease that called for the store to ex-
pand its space on Westenhellweg to 500 square metres; the esta-
blishment opened in December 2011.
Rossmann takes over from Sport Vosswinkel
The discounter drugstore chain Rossmann took over the Sport
Vosswinkel store on Westenhellweg, where it opened a new 1,000
square metre store. Vosswinkel relocated to Thier Galerie.
Paul Winston and Gina Tricot open stores on
Westenhellweg
A new offce and commercial complex has been built at Wes-
tenhellweg on the former Quelle Haus site. Hamburg-based B&L
Group invested around 20 million euro in the complex, which con-
tains two around 800 square metre retail spaces that will be lea-
sed by Paul Winston and Gina Tricot respectively.
121
Westenhellweg Dortmund
ProjectWestenhellwegofB&L
The new complex is located right across the street from the main
entrance to the new 300 million euro Thier Galerie mall, which
was developed and is managed by ECE, which is likewise based
in Hamburg.
Thier Galerie a dynamic force
Numerous premium chain retailers that have been operating
stores in choice locations for many years are fnally beginning to
open stores in Dortmund. The most prominent retailers to have
opened stores at Thier Galerie mall in September 2011 are Pri-
mark and Hollister. But other retailers such as Bose, Marc OPolo,
Thommy Hilfger, Gant, Kiko Milano, Selection, Vila, s.Oliver, New
Yorker, Mango, Gaastra, Esprit, Mexx, Bianco, Street One, Zero,
H&M, Zumnorde, G-Star and Tally Weijl have opened at least their
second store in Dortmund.
Thier Galerie will undoubtedly give the less proftable stretch of
Westenhellweg a robust shot in the arm.
122
26
Dresden new with Apple & Hollister
.
Skyline Dresden
DRESDEN is the capital of the German state of Saxony and has a
population of 523,000. The city is a transportation crossroads and
economic centre of the Dresden conurbation which is regarded as
one of Germanys most dynamic urban regions.
Dresden an appealing and multifaceted economic centre
that is conducive to retail activity
A dynamic economy, a growing population, purchasing power that
a Prognos study says is set to rise 16,9 % by 2013, and an exponen-
tial increase in tourism are all factors that make Dresden an excel-
lent place to open a retail store. Numerous investment and orga-
nisational measures over the years have strengthened Dresdens
downtown businesses, as well as the citys various districts, resi-
dential areas, and retail locations.
Dresden has around 826,000 square metres of retail space, with
rents in the neighbourhood of 100 euro per square metre. 291,000
square metres of this space are in shopping malls. Expansion of
the Altmarkt Galerie mall in 2011 added around 18 000 square me-
tres of retail space to the downtown area.

Of particular importance for the development of Dresdens down-
town area was the opening of the Centrum Galerie Dresden mall
on Prager Strasse, which is the citys main shopping street in a
top downtown location, as well as the opening of stores and pas-
sages on Neumarkt. Most of the new retail stores have opened on
Wiener Platz, Prager Strasse, Altmarkt, Neumarkt, Postplatz and
Innere Neustadt.
Prager Strasse and Centrum Galerie
Prager Strasse, which is one of Germanys most popular shopping
streets, mainly has large department stores and leading chain re-
tailers. The four-level 52,000 square metre Centrum Galerie mall
opened in 2009, and Planet Sports inaugurated a new 530 square
metre store there in December.
Desigual opens in Dresden
In June, the fashion retailer Desigual took over the 700 square
metres Dress & Co store at the corner of Prager Strasse and Wai-
senhausstrasse that had formerly been operated by the regional
retailer Dirk Richter.
Globetrotter takes over from P&C
The Hamburg-based outdoor clothing and equipment retailer Glo-
betrotter moved into the four-level 6,200 square metre spaces on
Prager Strasse formerly leased by Peek & Cloppenburg.
Altmarkt and Altmarkt Galerie
Altmarkt Galerie is one of Dresdens most appealing shopping
malls and one of the most successful in Germany. In March 2011,
the malls operator ECE unveiled a new
wing that added 18,000 square metres of
retail space to downtown Dresden. Smaller
stores around Altmarkt and on the adjoining
streets lend the area a distinctive atmos-
phere.
The opening of the new wing of Altmarkt
Galerie is probably the most important
change in Dresdens downtown retail sector
a change that will also help to meet the
extremely strong demand on behalf of the
retailers for spaces in this area.
Apple and Hollister debut in Dresden
Apple opened its frst and probably only
store in Eastern Germany. Following this, in
September the US cult brand Hollister ope-
ned a store right next door to Apple.
In addition to consumer goods stores such
as G-Star and Bestseller, Hugo Boss, Guess
and Marc Cain also opened stores, as did
Tony & Guy, ONeill and Fossil in connection
with the expansion of Altmarkt Galerie.
123
Altmarkt-Galerie Dresden
Frauenkirche Dresden
Neumarkt gets a facelift
Neumarkt offers a delightful mix of restored historical buildings,
new cafes with enchanting cityscapes, top-notch hotels, and a
broad range of shopping options for the most exacting tastes and
desires. Prior to its destruction by Allied bombing on 13-14th Fe-
bruary, 1945, the architecture of Dresdens Neumarkt Platz was
Baroque. No construction was realised on the square for decades
following the bombing. But today Neumarkt has been restored to
its former glory.
The Frauenkirche dedication ceremony on 30th October, 2005 ena-
bled Dresden to welcome back one of the cornerstones of its he-
ritage. Other districts are springing up around this world-famous
church whose reconstruction symbolises peace between the
worlds peoples and are bringing a new dynamism to the expan-
sion of Neumarkt.
124
27
Leipzig rapid development, unmatched
by any other city in Eastern Germany
.
Specks Hof Grimmaische Strasse, Leipzig
Paunsdorf-Center, Leipzig
LEIPZIGs development following German reunifcation in 1990
has been more rapid and felicitous than that of just about any
other Eastern German city. Leipzig, which is part of Saxonys six
Oberzentren, has a population of around 525,000 and comprises
a conurbation in conjunction with the neighbouring city of Halle.
Leipzig, Halle and nine other cities in Saxony, Saxony-Anhalt and
Thuringia comprise the metropolitan region known as Metropolre-
gion Mitteldeutschland, of which Leipzig is one of the two lynchpin
cities, the other being Dresden.
Leipzig is an excellent place for a new retail store. Despite a con-
siderable increase in the amount of retail space available, store
rents in Leipzig have not declined and currently range up to 115
euro per square metre. The downtown area has around 270,000
square metres of retail space in top-notch locations.
Downtown Leipzig
Consumer goods stores in downtown Leipzig are located on Pe-
tersstrasse and Grimmaische Strasse, which begin at Leipziger
Marktplatz.
Petersstrasse is the best retail location in Eastern Germany and
its retail rents are commensurate with this status, ranging up to
115 euro per square metre a nearly 10 % increase since 2005.
Petersstrasses multibranch ratio of 90 % is on a par with that of
choice locations in Western Germany. The street is frequented by
around 9,000 pedestrians hourly, which from this standpoint ma-
kes Petersstrasse one of Germanys top shopping streets.
In 2011, Desigual took over the former Mango store on Petersstras-
se and Anika Schuhe opened a concept store in Passage Petersbo-
gen right on Petersstrasse.
In May 2011, the Italian young-fashion retailer Alcott took over
Schuh Rolands top-notch 500 square metre locations on Peters-
strasse in partnership with a regional franchisee. Woolworths will
soon be opening a more than 2,300 square metre store on this
same street.
According to the real estate company JLL, Grimmaische Strasse
has greatly improved in recent years. The street, and particularly
its middle stretch, was long dominated by Galeria Kaufhof depart-
ment store. However, the quality of the street from a retail store
standpoint has improved across the board thanks to two events:
the construction of a building next door to Galeria Kaufhof that
extends to the corner of Universittsstrasse, and the advent of
prominent retailers.
Store rents currently range up to 110 euro per square metre, a
13 % increase over 2005.
The latest arrival is the British shoe retailer Clarks, which took
over the former Puma boutique. Other recent openings include
the womens and mens fashion retailers Empimo and LOccitane
as well as the Mico boutique, whose entrance is on Reichsstrasse.
The building at Grimmaische Strasse is slated to be replaced by a
new construction.
In March 2012, Douglas will be opening its second store (around
500 square metres) in downtown Leipzig at Grimmaische Strasse
25, where a 120 square metre Claires store will open in the same
month.Leinweber has leased a 400 square metre space in the new
Universittsgebude building for its active shoe concept.
Leipzig also offers myriad shopping malls, which are located either
in the downtown area as is the case with Promenade Hauptbahn-
hof, or on the edge of town, e.g. Paunsdorfcenter, Nova Eventis
and Alleecenter.
125
28
German real estate investments the
biggest deals
.
Deal 000Euro Buyer Seller
Jupiterportfolio(mixed) 736 DundeeInternationalREIT LoracInvestmentFunds(LoneStar)
Metro Cash & Carry portfolio (mall) 700 Cerberus Beisheim/ Haniel/ Schmidt-Ruthenbeck
50 % of Centro Oberhausen (EZH) 650 Canada Pension Plan Stadium Group
InvestmentBoard
Greentowers/DeutscheBankheadoffce, 584 DWSInvestment DeutscheBank
Frankfurt(offcebuilding)
PEPNeuperlach(mall) 415 TIAA-CREF Rreef
Silberturm,Frankfurt(offcebuilding) 390 IVGImmobilien Commerzbank
GropiusPassagen,Berlin(mall) 341 Mf WealthCapRealEstateManagement
Residential package containing 4,800 units 330 GSW Immobilien Gagfah
Package comprising 4,683 apartments - Degewo and Gesobau Corpus Sireo
and 59 commercial units in Berlin
A portion of Skyline Plaza, Frankfurt (mall) 288 Allianz Real Estate CA Immo and ECE
Three Karstadt stores in Hamburg 250 Quantum Highstreet
and Mnster (mall)
85 % of Hamburger Meile in Hamburg (mall) 250 Real I.S. ECE, Bruhn
Oberpollinger & Karstadt Sport Munich (mall) 250 Centrum, Signa Holding Highstreet
Residentialportfoliofromalevel-onebankruptcy 220 Blackstone LevelOneAssetManagement
Commercial real estate portfolio (mall) 200 Morgan Stanley and Redos Semmelhaack
TAGresidentialrealestateportfolioin 150 TAGAssetManagement Institutionalinvestor
NorthernandEasternGermany
PasingArcadenMunich(mall) 150 mf BayernImmoKG(BayernLBsubsidiary)
NeumarktGalerieCologne(mall) 135 SignatureCapital Grg(bankruptcyattorney)
FalconCrestportfolioBerlin(residential) 130 NicolasBerggruenHoldings IMWImmobilien
DieMitte,Berlin(mall) 130 Foreignprivateinvestor CommerzReal(HausInvest)
The largest deal in the German real estate investment market last
year was Dundee International REITs purchase of the Deutsche
Post portfolio.
Most transactions revolved around shopping properties, with 12 of
the 20 largest direct real estate deals involving this segment, while
only two large transactions involved offce space alone. An additi-
onal deal, the sale of Frankfurts Westendgate offce high-rise, is
probably worth 150 million euro but has yet to be offcially con-
frmed. All fve major residential real estate portfolio sales were
recorded during the second half of the year.
126
29
M&A, are fashion deals set to increase or
decrease in Germany over the course of 2012?
.
Jack Wolfskin commercial
Stephan von Parpart, Berenberg Bank:
We are expecting that 2012 will bring a large number of mergers
and acquisitions in the German retail clothing sector, some of
which have already been announced. When it comes to family-run
businesses, these transactions are mainly attributable to the lack
of a successor to take over the business (as happened with Bonita
for example), as well as fnancial problems (e.g. Wissmach).
Also, the terms of some investments in fnancial investors port-
folios will expire in 2012 (e.g. Palmers). And some companies may
want to sell off some of their holdings for portfolio related reasons,
the currently best known example of this being Kaufhof. However,
the question arises as to which snags the sellers might run into. In
the past, in particular fnancial investors that engineered nume-
rous takeovers experienced increasing diffculty when it came to
arranging for the necessary fnancing.
Since the Jack Wolfskin affair, the fnancial market has been rela-
tively locked down, particularly when it comes to merger and acqui-
sition deals worth hundreds of millions of euro. A countervailing
force here will undoubtedly be the funds held by private individu-
als and family offces that are in search of high-value investments
and are normally less dependent on external bank fnancing.
However, uncertainty about the economy may also cause prob-
lems. During the frst half of 2011, potential investors were more
reluctant to take the plunge than in the latter half of the year, even
if the company in question had shown no signs of a crisis. And the
parties may simply be unable to agree on a price. Plus theres the
fact that parties that are not in a big hurry to sell would rather wait
instead of obtaining what will probably be a low price for their com-
pany in a currency that may lose value. As we are currently seeing
in the real estate sector, in case of doubt private-sector owners in
particular would rather sit on their assets.
Thomas Schlytter-Henrichsen, Alpha:
Financial investors display far less of an interest in the fashion in-
dustry than they do in other sectors. This is an area for experts and
will remain so in 2012 as well. We are bound to see new fashion-
industry mergers and acquisitions in the coming year.
The bank crisis in particular is making it diffcult for some fashion
houses to refnance their operations with a view to strengthening
their own capitalization. Also, the relatively low price-earnings ra-
tios of listed fashion companies may prompt some fnancial inves-
tors to take a closer look at public to private sector transactions.
Financing will in any case be a challenge.
Martin Weckwerth, Permira:
In 2012, we are expecting to see new opportunities open up for
appealing private-equity investments in the fashion industry. The
main drivers of structural change in this sector and thus the cri-
teria applied by investors are increasing purchase costs, the need
to develop multichannel strategies, and the growing importance of
brands. In terms of sourcing, rising raw materials and labour costs
in Asia will bring about lasting change, particularly in the low-price
segment.
This in turn will alter the conditions on the ground,
which means that the players with the best respon-
ses will also fare the best in a market environment
thats highly competitive and fraught with diffculty.
Multichannel strategies make it necessary for brick
and mortar stores to fnd ways to combine the vari-
ous channels in a way that will help these stores fnd
customers. Here, innovative approaches will enable
well positioned retailers to achieve above-average
growth. Strong brands will take on greater impor-
tance in such a market environment. Clearly positi-
oned brands offer growth potential and can thus of-
fer appealing investment opportunities. Thus, we can
expect to see mergers and acquisitions in the fashion
industry in 2012.
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30
High-growth for shopping malls and
department stores
.
CentrO Shopping Center, Oberhausen
German shopping malls display robust retail-space
growth
According to a TextilWirtschaft analysis, despite the fnancial crisis
and myriad store bankruptcies, Germanys feet of shopping mall
retail space is set to grow at a rapid clip in the coming years. Some
57 new shopping malls are in the pipeline for 2010 to 2013, which
means that more than 4,000 new stores with aggregate space
amounting to around a million square metres may open half the
size of Monaco. The aggregate cost of these malls is estimated to
be in the neighbourhood of 7,2 billion euro.
Top-performing malls CentroO, Weserpark and
Citti-Park Kiel
Kiels Citti-Park, CentroO Oberhausen, and Bremens Weserpark
afford their tenants the highest sales, according to an Immobilien
Zeitung survey of store tenants at 200 German shopping malls. The
lowest sales were registered at Munichs Mira, Wiesbadens Lilien
Carr, and Wittens Stadtgalerie malls.
For the Shopping Centre Performance Report 2011, ecostra, CB Ri-
chard Ellis (CBRE) and Immobilien Zeitung surveyed store tenants
at 200 German shopping malls with more than 10,000 square
metres of retail space and asked the respondents how satisfed
they are with their stores sales performance compared to other
shopping malls where the tenant also had a store. The store ow-
ners responded on a scale of 1 (very satisfed) to 5 (dissatisfed).
The assessment included only those malls to which a minimum of
fve respondents gave a rating, i.e. 158 malls in all. And only store
tenants were allowed to participate who had a store in at least th-
ree of the 200 malls. As far as we know, this is the frst survey of
this type to have been conducted in Germany, and maybe in all of
Europe, said Ecostra owner and report initiator Joachim Will.
The top performing mall was Kiels Citti Park whose score was 1,57,
followed by CentroO Oberhausen (1,65) and Bremens Weserpark
(1,77). The 20 top ranked malls include some of Germanys oldest
and largest, including Breuningerland Ludwigsburg (1,81, ranked
4th), Donau Einkaufszentrum in Regensburg, Main-Taunus-Zent-
rum near Frankfurt (both 2,0 and ranked 12th) and Ruhrpark Bo-
chum (2.06, ranked 17th).
At the lower end of the rankings are numerous malls of more re-
cent vintage, including Loop5 near Darmstadt (3,75), Centrum Ga-
lerie in Dresden (3.86) and Lilien Carr in Wiesbaden (4,42). The
lowest ranked mall (158th) was Munichs Mira (4,55), which opened
in 2008.
Malls with more than 40 000 square metres of retail space recei-
ved high scores, while malls with less than 20 000 square metres of
retail space fared considerably worse (3,24). Considered in terms
of their age, the malls that opened between 1991 and 2000 came
out ahead (2,6), while those that opened in 2001 or later received
an average score of 2,97. The out-of-town malls received a better
average score (2,61) than their downtown counterparts (2,84). The
complete report, including a tabular list of the 20 highest and lo-
west scoring malls, is available at www.iz.de/shoppingcenter.
128
Loop 5 Darmstadt
The 20 best malls:
Mallname Averagescore Numberof
times ranked
1 Citti-Park Kiel 1,57 7
2 CentrO Oberhausen 1,65 20
3 Weserpark Bremen 1,77 13
4 Breuningerland Ludwigsburg 1,81 21
5 Famila Einkaufsland Wechloy Oldenburg 1,83 12
5 Frde Park Flensburg 1,83 6
7 Lago Shoppingcenter Konstanz 1,85 13
8 Alexa Shoppingcenter Berlin 1,88 24
8 Allee-Center Magdeburg 1,88 17
10 BreuningerlandSindelfngen 1,90 20
11 Lhr-Center Koblenz 1,96 25
12 SchwabenGalerie Stuttgart 2,00 5
12 Brcken-Center Ansbach 2,00 11
12 Donau-Einkaufszentrum Regensburg 2,00 12
12 Main-Taunus-Zentrum Sulzbach 2,00 20
12 Werre-Park Bad Oeynhausen 2,00 14
17 Ruhrpark Bochum 2,06 16
18 Elbepark Dresden 2,08 12
19 KaufPark Eiche Ahrensfelde 2,13 8
20 Schlosspark-Center Schwerin 2,14 22
20 Lindaupark Lindau 2,14 7
20 Kln Arcaden 2,14 14
20 Saarpark-CenterNeunkirchen 2,14 21
Quelle: Immobilienzeitung
McArthurGlen sees great potential for outlet malls in
Germany
The British outlet mall operator McArthurGlen has opened the se-
cond new wing of its Berlin designer outlet mall, which doubles the
facilitys retail space to 16,500 square metres and the number of
outlets to 80. The new arrivals include Cinque, Converse Footwear,
Gant Footwear, Desigual, Diesel, Escada, Fossil, Vero Moda, Lacos-
te and Tom Tailor Kids.
McArthurGlen plans to open, in Neumnster, its second German
outlet mall during the latter half of 2012 in a facility with 20,000
square metres of retail space. The mall will be located in a feld
around 5 kilometres outside of Neumnster and an hours drive
from Hamburg. McArthurGlen has indicated that its next candidate
for an outlet mall is the state of North Rhine-Westphalia. Currently,
McArthurGlen is meeting the needs of Germanys most populous
state for designer outlets via the outlet mall in Roermond, Holland,
which attracts many North Rhine-Westphalia customers as it is
located near Cologne.
McArthurGlen sees great untapped potential for outlet malls in
Germany. According to the market research organisation Econda,
Germany has only 1 square metre of outlet retail space per 1,000
inhabitants. The fgure is ten times larger in Great Britain.
Zweibrcken The Style Outlets enters its third and fnal
expansion phase
The Spanish retailer Neinver plans to add 4,400 square metres of
retail space to The Style Outlets by the fall of 2010, which will bring
the malls total retail space to 28,000 square metres enough to
accommodate 30 new retailers. However, exactly which retailers
will be taking up residence at the mall will not be disclosed prior
to the opening date (this is an ironclad rule among designer outlet
mall operators). The mall will then contain 130 stores that sell de-
signer wares at discount prices.
129
Citti-Park Kiel
McArthur Glen opening, Berlin
Outlet and City merge in Metzingen
Outletcity in the small Swabian town of Metzingen, which is one of
Germanys most renowned factory outlet malls, has more than 50
stores in a 25,000 square metre facility. A new access road is cur-
rently under construction, and starting this fall a new pedestrian
zone will link the mall with Metzingens old town.
The newcomers to the mall are thus Fossil, Swarovski and Milka,
with Calvin Klein and Max Mara set to follow. Metzingen is one of
Germanys top retail locations and is visited by more than 3 million
people from 185 countries annually. The city is ranked seventh in
Germany in the hit list of sales generated by foreign tourists pub-
lished by Global Tax Refund.
MAB Neinver ambitious plans
A total of 350 million euro will be invested in outlet malls in Germa-
ny and France over the next four years.
Factory Outlet Centre Roppenheim will be opening for business in
April 2012. The mall will offer French, German and international
brand products in the fashion, sports, accessories and furnishings
domains. The two project developers see a potential clientele
amounting to 8,4 million persons in the malls local (Oberrhein)
region, plus tourists who will be spending their vacations there.
The mall will contain 107 brand stores with medium and premium
quality goods. The architecture of the mall, which is located across
the Rhine from Iffezheim, will be modelled on that of an Alsatian
village. The mall has more than 27,000 square metres of foor space
and is located on a 50,000 square metre campus.
130
The Style Outlets Zweibrcken
Outlet-Center Soltau
The Ulm-based Mutschler Group to open
an outlet mall in Soltau
A building permit application has been submit-
ted for this outlet mall, which has been in the
pipeline for a decade. We fgure, well be get-
ting the permit this summer, which means that
well be able to open in the spring of 2012, says
CEO Sylvie Mutschler.
Located on highway A7 between Hamburg and
Hannover, the mall site is in close proximity to
the renowned Heidepark theme park. With 9
990 square metres of retail space, the mall will
come in just under the mandated 10,000 square
metre limit. The mall, which will be realised in
a restrained village-like architectural style, will
be operated by the British outlet mall specialist
GVA. Mutschler, which will be investing around
50 million euro in the project, is a medium sized
family owned company that mainly specialises
in commercial-property development.
Outlet City Metzingen
131
31
Austria with new Anglo-american retailers
.
Though Austria is a promising market for international retailers,
good locations are few and far between since the country has little
in the way of multi-regional shopping streets and large shopping
malls that would be conducive to an Austrian market entry. Despite
the fact that Austria has one of the highest retail space densities
in Europe, numerous new shopping malls are in the pipeline, par-
ticularly in the Vienna area. Thirty such projects with an aggregate
480,000 square metres of retail space have been announced.
The most important Austrian malls that have opened in recent
months are as follows: Kaufhaus Tyrol in Innsbruck, Varena in
Vcklabruck, Einkaufszentrum Riverside in Vienna, Shopping Cen-
ter West in Innsbruck, Lentia City in Linz and Tenorio in Wolfsberg.
Some malls have been expanded, such as Viennas Donauzentrum,
which now has 80,000 square metres of retail space, making it the
citys largest mall.
Austrian shopping mall sales average 4,500 euro per square metre,
with the top 15 malls registering sales of 5,500 euro per square
metre and up.
132
32
Viennas Golden U with new luxury retailers
.
Project Tuchlauben, Vienna
VIENNA, which is the capital of Austria and also one of the
countrys nine federal states, has a population of 1,7 million and
is thus Austrias most populous city. The Vienna metropolitan area
has around 2,4 million inhabitants, which is more than 25 % of the
countrys total population. Vienna is the ninth most populous city
in the EU.
Viennas retail sector is doing extremely well, and despite the
uncertain economic outlook, demand for new retail space is still
high. Despite the current price pressures on the worldwide shop-
ping property sector owing to the current economic situation, it
has been shown that quality indisputably wards off major price
fuctuations. Viennas retail property sector has been holding up
quite well. According to the CPB report that was published for the
Real Vienna real estate show, rents for retail space in choice loca-
tions have maintained a uniformly high level in recent years.
Viennas Golden U
Trends in the Golden U: While Kohlmarkt, Graben and Krntner
Strasse were at one time home to traditional family businesses,
in recent years the Golden U has increasingly been dominated by
high-end international boutiques and major brand retailers.
Signa Holding, which is developing a new high-end shopping
mall in the heart of Vienna, has already leased space in the mall
to retailers such as Louis Vuitton,
Prada, Miu Miu, Seven, Armani and
Churchs. The mall is scheduled to
open in 2012.
Rents in the Golden U (Krntner
StrasseGrabenKohlmarkt) are in
the neighbourhood of 300 euro per
square metre. Other top locations
such as Mariahilfer Strasse and well
frequented malls have thus far ba-
rely felt the effects of the crisis. The
only change is a marked decline in
the willingness to pay key money.
But the situation is less rosy in
Viennas classic second-rank lo-
cations such as Bezirkseinkaufs-
strasse, Meidlinger Hauptstrasse
and Favoritenstrasse. According to
a CPB analysis, International retail
chains, which used to be the key
drivers of growth, now feel com-
pelled to switch from an accelerated
growth program to a consolidation program and thus focus on opti-
mizing their branche structure rather than expanding it.
The kind of traditional businesses those are so common in down-
town Vienna can no longer afford the high rents there and are thus
being forced to relocate to side streets or simply go out of busi-
ness. The latest spate of new store openings is thus also following
a trend that is unstoppable.
Shopping-street rents
Location Net monthly rent per square metre (in euro)
Kohlmarkt 180-340
Graben 180-270
Krntner Strasse 140-210
Innere Mariahilfer Strasse 60-130
Rotenturmstrasse 30-125
Favoritenstrasse 30-60
Neubaugasse 20-60
Landstrasser Hauptstrasse 15-45
Meidlinger Hauptstrasse 10-30
Thaliastrasse 10-30
Source: EHL Research
133
33
Austriass new openings Forever 21 takes
Vienna by storm
.
Mariahilferstrasse, which is Viennas largest and most renowned
shopping street with 140,000 square metres of retail space, links
the downtown area with the outer Penzing district. The street is
named after Viennas current 6th district and erstwhile suburb,
Mariahilf.
Forever 21 takes Vienna by storm
The Los Angeles-based fashion retailer Forever 21 inaugurated
its European expansion program with a two-pronged effort. Linda
Chang, the daughter of the company founder, stated as follows on
the occasion of the Vienna store opening: Weve been looking into
Europe for years, and now we feel that we are ready and willing to
move into action.
In May 2011 Forever 21 celebrated the opening of its frst store,
in Vienna, in a 4,100 square metre three-level space located in a
top location on Mariahilferstrasse, near Zara and Peek & Cloppen-
burg.
In July 2011, Forever 21 opened a second, 2,000 square metre store
on Krntnerstrasse in a space formerly occupied (successively) by
Bally, Salamander and Swarovski. The annual rent runs to a hefty
2.6 million euro.
Desigual takes over from Caf Servus
The Spanish fashion house Desigual is also expanding its presence
in Vienna. Shopftting of its new 1,000 square metre megastore on
Mariahilferstrasse (taken over from Caf Servus) is going great
guns. The store will be the companys frst in downtown Vienna.
s.Oliver opens concept store in Vienna
s.Oliver has opened its frst Concept Store in Austria in Vienna.
The store is located on Viennas famous and high-frequented Ma-
riahilferstrasse on a space of more than 1,000 square metres and
two foors.
Second Camper boutique opens in Vienna
In the fall of 2011, Camper opened its second Vienna boutique on
Mariahilferstrasse in a space formerly leased by the fashion retai-
ler Frnkranz. Campers frst Vienna store opened in late March on
Wiener Graben.
Austria gets its frst Bose Experience Centre
Customers will now have the opportunity to discover the Bose
world of sound in a central location on Viennas Mariahilferstrasse,
not far from the museum district. The high point of the Bose Expe-
rience Centre is its movie theatre.
Krntner Strasse, which along with Graben is one of downtown
Viennas most renowned streets, begins at Karlsplatz and Fried-
richstrasse, and from there wends its way past the Vienna State
Opera building into the centre of Vienna, Stephansplatz, where a
pedestrian zone leads west toward Graben.
Peek & Cloppenburg open a 12,000 square metre store
Peek & Cloppenburg opened its 11th international department
store on Viennas Krntner Strasse in September 2011 in a 12,000
square metre space that was designed by the renowned architect
David Chipperfeld. The salient features of the space are Danube
lime sandstone and large stacked windows.
This renders the space very light and affords customers a view of
the old towns historic buildings from all levels of the store. The
unusually high 4,75 and 3,75 metre ceilings also admit abundant
light. This is Peek & Cloppenburgs third store (after Berlin and
Stuttgart) to embody the retailers fashionation concept. The
store, which has around 500 square metres of foor space, features
a mix of international avant-garde fashions and creations of lesser
known retailers, in alternating six-month cycles.
BIG buys Peek & Cloppenburg property for 50 million
euro
Having purchased the Peek & Cloppenburg building complex at the
corner of Krntnerstrasse and Himmelpfortgasse for 50 million
euro, Bundesimmobiliengesellschaft (BIG) acquired a 60 % share
in the project development company. Although the parties decli-
ned to disclose the purchase price of the acquisition, BIG indicated
that it had earned a reasonable return on the deal.
134
Triumph opens fagship store
Following the closure of Frnkranz, a traditional business located
on Krntnerstrasse, space comprising 173 square metres on the
ground foor and 127 square metres on the second foor was leased
by the lingerie retailer Triumph for nearly 1 million euro annually.
Esprit takes over from H&M
In the spring of 2012 (somewhat behind schedule), Esprit will be
taking over the former H&M space next door to Forever 21. A year
previously, Esprit signed a lease on a former Schps store on Ma-
riahilferstrasse.
Joseph Ribkoff on Stephansplatz
The Canadian womens fashions retailer Joseph Ribkoff has open-
ed its frst monolabel store on Stephansplatz in the heart of down-
town Vienna. The store will be operated by Xenia Luxardo.
Graben, one of downtown Viennas most renowned streets, begins
at Stock-im-Eisen-Platz at Palais Equitable and ends where the
street branches off to Kohlmarkt and Tuchlauben. Graben is one of
Viennas most magnifcent streets.
135
Bally Tuchlauben, Vienna Project Tuchlauben, Vienna
Swatch Group expands
Swatch Group will be investing up to 10 million euro in Austria, with
the lions share of the funds going to a 420 square metre Omega
boutique on Stock-im-Eisen-Platz that is scheduled to open in
2012.
Bally opens second largest fagship store
In the summer of 2010, the Swiss shoe retailer Bally opened its
second largest (365 square metre) fagship store in a German-
speaking country on Viennas Graben (the largest store is in Zu-
rich). The new store, which is in a protected landmark building,
extends over two levels.
Bucherer opens IWC Schaffhausen store
IWC Schaffhausen opened its tenth European boutique. The lillipu-
tian 20 square metre store on Graben will be run by Bucherer.
Rolex debuts at the corner of Graben and Tuchlauben
In early December 2011, Rolex opened its frst Austrian store at the
corner of Graben and Tuchlauben. The store will be run by Hermann
Gmeiner-Wagner, who is one of the eight Rolex dealers in Austria.
Around 5 million euro was invested in shopftting the store, via a
joint venture with a new Juwelier Wagner store.
Amicis moves in next to Rolex
The Vienna multibrand retailer Amicis has relocated its mens store
to Tuchlauben 4, which is located between the recently opened Ju-
welier Wagner Rolex store and Fabios, and right across the way
from the future luxurious offces of Ren Benkos Signa Holding,
which are under construction.
Kohlmarkt, a shopping street located in downtown Vienna in the
district known as 1. Wiener Gemeindebezirk, extends from Mi-
chaelerplatz to Graben, and by virtue of the large concentration
of jewellers and international fashion retailers with stores here, is
regarded as Viennas most luxurious shopping street.
Louis Vuitton to open on Tuchlauben
The listed luxury goods retailer LVMH will be selling its products in
a store on Tuchlauben that is said to be a one of a kind in Europe.
We are proud and delighted to have the luxury retailer Louis Vuit-
ton as a tenant in one of our properties, said Signa Group founder
Ren Benko. This is further proof that our shopping properties re-
present the top locations for premium retailers in Vienna.
As part of the same Signa project, Prada will be moving into an
around 1,500 square metre fagship store at the corner of Bogner-
gasse and Seitzergasse in 2013.
Above the Prada store, some 11,000 square metres extending
over three foors will be given over to luxury retailers, while the
remaining foors will accommodate offces with ultra-modern fur-
nishings and amenities.
Breguet expands on Kohlmarkt
Breguet has completed the expansion of its boutique on Viennas
Kohlmarkt, where the neighbouring space was taken over, increa-
sing the stores size from 30 to 180 square metres.
Zegna takes over from Bulgari
Ermenegildo Zegna has taken over the former Bulgari store, a
split-level 700 square metre space Zegna rents for 1,500 euro per
square metre a year. The key money for the lease was in the lower
seven digit range.
Moncler opens third Austrian store
In the summer of 2011, Moncler took over the 190 square metre
ground foor space formerly leased by Gil Couture, right across the
way from Zegna. The key-money amount was not disclosed.
Vapiano opened at BahnhofCity
The 100th Vapiano restaurant recently opened at BahnhofCity
136
Moncler Boutique Kohlmark, Vienna
Red Bull World Store Getreidegasse, Salzbug
Wien West with a new design by the Milan architect and interior
designer Matteo Thun, who has been mulling over the current in-
terior since 2002. According to Mr. Thun, The main aim of our con-
cept for Vapiano is to ensure that the restaurant is imbued with
Mediterranean lightness at all times. The re-design is an offshoot
of this original concept, which guests notice at a subliminal level
only. The new 733 square metre Vapiano restaurant seats 180 in-
side and 80 in the garden.
Red Bull opens frst international store in Salzburg
Red Bull will be selling its various products in a 320 square met-
re space that was previously home to the Tanja Gndling fashion
boutique, whose eponymous owner will also be running the Red
Bull store.
Salewa opened a store in Salzburg
The 340 square metre store on Salzburgs Alpenstrasse carries a
broad range of Salewa and Danaft products.
New Bogner store opened in Salzburg
The new 210 square metre store in Salzburgs old town is operated
by Bogner itself. The company has achieved worldwide success
since its founding in 1932, and in mid November 2011 opened its
new store on Sigmund-Haffner-Gasse.
Swarovski reopens with a 1,200 square metre store, reno-
vated at a cost of 8,5 million euro
In August 2011, after eight months of construction, Swarovski ope-
ned its doors on Herzog-Friedrich-Strasse in Innsbruck, in a larger,
more modern and above all more multifaceted space.
Innsbruck now has one of the worlds largest Swarovski stores, and
with it a unique shopping ambience.
Thanks to an around 8,5 million euro investment, Swarovski has
now moved into a location that provides a direct and intense
crystalline experience. In a split-level 1,200 square metre space,
Swarovski will be presenting its entire portfolio comprising crystal
components and objects, jewellery and accessories and precision
optical devices.
Jet Set opens new store in Kitzbhel
The tenth Jet Set store opened in the fall of 2011 at a top location
in a 200 square metre space in Kitzbhel. Following this opening
and Peter Kapplers departure, the expansion program was put on
the back burner so as to allow Jet Set time to chart its course for
the future.
137
Swarovski fagship store Herzog-Friedrich-Strasse, Innsbruck
Peak Performance sponsors Hahnenkammrennen mara-
thon and opens store in Kitzbhel
The store of the Swedish ski, golf and casual wear retailer Peak
Performance opened in a 100 square metre split-level space for-
merly leased by Sport Ober. At the same time, plans for a long-term
partnership with the Hahnenkammrennen Alpine ski races were
announced. Starting in 2013, Peak Performance will be the offcial
clothing sponsor of the world-renowned races.
Witty Knitters joins forces with Jet Set
Witty Knitters is the brainchild of a group of Hamburg-based
cashmere enthusiasts with extensive experience in the fashion
industry. Witty Knitters boutiques are a world unto themselves
unique and highly evocative, like the companys cashmere fa-
shions. Having opened a frst store on Sylt last June, the company
opened a fagship store in Hamburg and a third store in Wester-
land; and in December 2011 came the fourth store, a 200 square
metre space in Kitzbhel.
Jet Set Boutique Vorderstadt, Kitzbhel
138
34
Austrian investment market news Kaufhaus
Tyrol wins award
.
Kaufhaus Tyrol opening, Innsbruck
Kaufhaus Tyrol wins award
Kaufhaus Tyrol, which was built at a cost of 155 million euro, was
awarded the best shopping mall in Europe award by the ICSC
European Conference. Designed by the British star architect Da-
vid Chipperfeld, the mall accommodates 50 stores in its around
33,000 square metres of retail space. The project investor was Si-
gna Holding.
Kastner & Oehler invests 40 million euro
The pioneering Graz-based department store Kastner & Oehler in-
vested 40 million euro in its fagship store to increase the stores
retail space to 40,000 square metres.
The result is a building that is in a class by itself: 20,000 square
metres devoted to fashion and 8,000 for sportswear plus superb
fragrance and home furnishings departments, restaurants, a su-
permarket, a dm discount drugstore, an eyewear store, a hairdres-
ser, and a Mister Minit locksmith all under one roof. Construction
for this, the largest remodelling project in the companys 138 years
history, took two years.
Bahnhof City West opens
Viennas new Bahnhof City West mall opened in November 2011 af-
ter nearly three years of construction at a cost of 200 million euro,
which was provided by OEBB Immobilienmanagement GmbH for
the realization of retail space, offces, and a Motel One Hotel. The
17,000 square metre mall, which managed by ECE, accommodates
90 stores, and all spaces have been leased. The mall is frequented
by more than 40,000 persons daily.
Gerngross invests 40 million euro
After eight months of renovation (during which the store remained
open) at a cost of 40 million euro, Gerngross department store at
Mariahilfer Strasse reopened. Gerngross, with its 30,000 square
metres of foor space, is one of Viennas most renowned shopping
139
Bahnhof City Wien West
Gerngross department store Mariahilfer Strasse ,Vienna
destinations. After the Palmers Group
sold the building in early 2004 for 112,3
million euro, the decision was made to
renovate and restructure the store. In
2005, the new owner Deka Immobilien
Investment GmbH held an architecture
competition that was won by Graz-based
Love Architects.
Otto acquires a majority share of
Innsbruck shopping mall
Six years ago, the German mail-order gi-
ant Alexander Otto, which owns Europes
largest shopping mall development com-
pany ECE Europa, acquired a 25 % stake
in the DEZ shopping mall. At years end,
Otto increased its stake in DEZ to 50,1 %,
while Hannes Hess, the former majori-
ty shareholder, retained the remaining
49,9 % of the shares. The deal also calls
for an increase in DEZs capital, with
only a minute amount going to Mr. Hesss
private foundation. The amount that
changed hands was not disclosed. Mr.
Hess, 62, who took over as CEO of DEZ
in 1986, will no longer be involved in day
to day operations beginning in 2012. Ac-
cording to Mr. Hess, he will be focusing
more on strategy and on real estate de-
velopment.
Having completed two waves of invest-
ment totalling an aggregate 40 million
euro, the DEZ mall now has 123 stores
with retail space amounting to 24,800
square metres. The mall generates an-
nual sales amounting to 169 million
euro, and a total of 7,5 million visitors
have been counted since inception.

140
35
G3 Shopping Centre in Gerasdorf a recently
realised out-of-town shopping mall
.
G3 shopping resort Gerasdorf
Europark shopping centre, Salzburg
Owing to the current high density of retail space in Austria, in the
future malls will mainly be renovated or expanded, and most new
malls will be built in downtown areas or on the outskirts of large
cities.
G3 Shopping Centre in Gerasdorf a recently realised
out-of-town shopping mall
The G3 mall, which is slated for opening in the spring of 2012, is
unique in Austria in many respects. The mall is located at the in-
tersection of three main highways (S1, A5, B7), while its catchment
area extends to Austrias neighbouring regions and to the part of
greater Vienna that is north of the Danube.
Apart from being the largest Austrian mall to be built in a sing-
le construction phase, GE is also the largest mall project to have
undergone an environmental impact assessment. Likewise unique
in the annals of Austrian malls is G3s architecture, customer ori-
entation, and environmentally friendly construction modalities,
which are unknown in projects of this size.
The malls name, G3, is intended to indicate that the Gerasdorf mall
is not just one building, but instead an agglomeration of three buil-
ding complexes: a specialty mall, a classic mall, and a DIY and gar-
den supply centre known as Bau- und Gartenmarkt Hornbach. G3
will accommodate around 200 stores spread across 70,000 square
metres of leasable space. It is hoped that the mall will become a
marketplace for the region comprising leading international re-
tail chains, regional operators and products, and a lively mix of
Austrian market leaders from various sectors.
141
Superdry commercial, Salzburg
Donauzentrum Vienna
G3 has more than 100,000 square metres of foor space. The leasa-
ble portion of the classic mall amounts to 58,000 square metres,
and there will be 12,000 square metres for lease in the specialty
mall. The mall has 4,000 parking spaces, some of them located in
an underground garage.
Rent index shopping center
Location Netto rent Price trend
EUR/m
2
/month
A-Location: 40-200 slightly increasing
SCS, Donauzentrum
B-Location:
Q19, SCN, LugnerCity, 14-45 stable
Zentrum Simmering
C-Location:
Interspar Sandleitengasse,
Arcade Meidling, 8-15 slightly decreasing
Zentrum Hernals
Source: EHL Research
142
Sillpark Tyrol
Hollister comes to Austria
The frst two stores of the American fashion house Hollister ope-
ned at Grazs Murbark and Salzburgs Europark in around 700
square metre spaces each, on 1st December, 2011. Marcus Wild,
CEO of Spar European Shopping Centres said: There was a veri-
table competition among the various malls for the frst store, and
we are very proud to be the frst. A week later, the third Hollister
store opened in a 400 square metre space at Viennas Donauzen-
trum mall.
Superdry in Salzburg
Superdrys frst Austrian store opened at Salzburgs Europark,
where the British fashion retailer decided to inaugurate its frst
Austrian fagship store, having opened stores previously in Berlin
and Munich. The Europark Superdry store is a 250 square metre
ground foor space that carries the whole gamut of the companys
products.
Hunkemller and G-Star come to Donauzentrum
The Dutch undergarment retail chain Hunkemller opened its frst
Austrian stores on 4th November at Viennas Donauzentrum and
plans to open nine additional stores in Austria by the end of 2012.
The new store is a 140 square metre space.
The denim retailer G-Star Raw also opened a store at Donauzen-
trum, in partnership with a franchisee. The new 295 square metre
store has an excellent location right at the malls main entrance.
Primark comes to Austria
In September 2011, the Irish department store chain opened its
frst Austrian branch at Sillpark. Primark sells fashion skirts, dres-
ses, pants and accessories at prices far lower than those of its
competitors, discounters included, and in a store that is also far
more spacious than those of its competitors. The companys fag-
ship store on Oxford Street in London has around 100 cash desks.
Primark currently has the most attractive concept in the retail
clothing industry, says Marcus Wild, CEO of the mall operator SES
(a member of the Spar Group), which operates Innsbrucks Sillpark
mall.
The British-Irish chain, whose sales amounted to 3,2 billion euro
last year, is expanding in Europe and has opened seven stores in
Germany over the past two years. The company is planning to open
between fve and seven stores in Austria, two or three of which will
be located in the Vienna area. Still unconfrmed is a store at the
143
new Gerasdorf mall near Vienna, which is slated to open in early
2012. Primark says that it is holding discussions with Austrias
ten largest malls.
Kappdahl debuts in Austria
The Swedish fashion retail chain Kappdahl plans to expand into
Austria in the fall of 2012. The discounters frst store (800 square
metres) for the whole family is slated to open at Ikea Haid Centre
near Linz, with an additional fve or six openings planned over the
next 12 months, according to Vice President Expansion Hans Jep-
son. Kappdahl plans to ultimately open 50 stores in Austria.
Train station mall space in great demand
The focus here is undoubtedly on the new malls at Viennas major
train stations such as Westbahnhof, Zentralbahnhof and Wien
Mitte, which will greatly increase the amount of available retail
space at these train stations.
The early stages of the marketing process have already shown
that train station malls will be stiff competition for outskirt and
out-of-town malls. There is a strong trend toward malls that are
integrated into the fabric of the city centre, as such malls offer the
convenience of urban shopping and thus provide customers with
genuine added value. It is safe to assume that all three malls at
Viennas major train stations will fetch top rents.
Shopping-Center Austria
Rank Shopping-Center City GLA x 1,000 sqm Opening Number of stores
1 Shopping City Sd Vsendorf 132 1976 330
2 Donauzentrum Vienna 129 1975 260
3 Center West Graz 94 1989 60
4 Shopping City Seiersberg Seiersberg 85 2003 200
5 Pluscity Pasching 70 1989 200
6 Haid Center Haid 63 1991 58
7 Europark Salzburg 51 1997 130
8 UNO Shopping Leonding 44 1990 80
9 Messepark Dornbirn 41 1987 65
10 ATRIO Salzburg 39 2007 75
11 Stadion Center Vienna 26 2007 63
12 Shopping-Center Nord Vienna 26 1989 80
13 Sdpark Klagenfurt 23 1998 85
14 City Center Amstette Amstetten 23 2001 70
15 Fischapark Wiener Neustadt 21 1996 46
Out-of-town specialty malls
Another species of shopping real estate that has existed in Austria
for years may also be in for some changes: specialty malls, which
have sprung up on the outskirts of many Austrian cities. In most
cases, the same tenants are found in all such malls and can be
counted on the fngers of two hands.

The specialty-mall model has proven to be successful. Thanks to
their low rents and their tenant structure offering a clearly identif-
able focus in the low and medium price segments, specialty malls
have been the big winner during the crisis, says Ehrenberger. But
a trend toward higher quality is also in the offng for such malls.
Inasmuch as small specialty malls in less desirable locations can
only attract tenants (if at all) that sell their wares at dumping pri-
ces, the larger malls that also invest in quality are in greater de-
mand.
According to a recent study by the consulting frm Standort +
Markt, between 2000 and 2010 Austrias specialty-mall retail
space feet doubled to 4,4 million square metres.
Hence half a square metre of specialty mall space is already
available for each Austrian. The number of specialty malls per se
has more than doubled as well, from 1,400 to 3,200.
144
36
Austrian M&A Deals Don Gil is no more
.
Gerry Weber Store
Stiefelknig store
Don Gil is no more
The bankrupt, 29-store retail clothing chain Don Gil was acquired
by the German fashion retailer Gerry Weber International AG for 7.3
million euro, a move that enabled Weber to implement its Austrian
expansion plans ahead of schedule (the company already has 23
stores in Austria). Don Gil was forced into bankruptcy owing to the
insolvency of its Italian parent Mariella Burani Fashion Group. The
companys indebtedness ran to 35 million euro.
Leder & Schuh acquires Stiefelknig
BAWAG Bank, which owns the Graz-based retail shoe chain Stie-
felknig, has sold it to the likewise Graz-based Austrian market
leader Leder & Schuh AG for an undisclosed amount. The Stiefel-
knig retail chain comprises 66 stores, 54 of them in Austria and
the remainder in Slovenia, Croatia and Slovakia.
Leder & Schuh AG owns Corti, Dominici, Humanic, Jello and
Shoe4You a total of more than 350 stores in 11 countries, with
more than half of the stores located in Germany, Bulgaria, Croatia,
Poland, Romania, Slovenia, Hungary, Switzerland and Slovakia. Le-
der & Schuhs 2010 sales amounted to 542,9 million euro.
Berggruen submits a new Kaufhof offer
In December 2011, prior to the decisive Metro Group supervisory
board meeting where a decision was to be made concerning a pos-
sible sale of Kaufhofs store feet, Nicolas Berggruen and the real
estate investment group Blackstone submitted a better offer that
not only called for a higher price for the department store chain,
but also clearly indicated that Berggruen intends to maintain the
existing Kaufhof management team and staff. In response to a
question from Handelsblatt Online, a Berggruen Holding spokes-
person confrmed that this was in fact the tenor of the new offer.
This development gave the negotiations with Kaufhof new impe-
tus. Berggruen now hopes that it will be able to examine Kaufhofs
books. Up until now, only the Austrian real estate company Signa
has conducted a detailed audit of Kaufhofs accounts and subse-
quently submitted a detailed bid. The company is said to have of-
fered 2 billion euro for the Kaufhof department stores.
But unfortunately, Signa CEO Ren Benko is under investigation by
the Vienna district attorney for suspected money laundering. Until
Mr. Benko is cleared of these allegations, the possible sale to Sig-
na will have to be put on the back burner.

The Vienna district attorneys offce needs more time
The Vienna district attorneys offce will not be able to complete
its investigation of prospective Kaufhof purchaser Ren Benko
before the 2011 Christmas holidays. An expert report by Austrias
BKA (equivalent of the FBI) came to the conclusion that the mo-
ney laundering allegations against Mr. Benko are unlikely to stand.
The Vienna district attorneys offce received assistance from BKA
money laundering experts in conducting its investigation of Mr.
Benko.
Ren Benko
145
With more than 700 million inhabitants, Europe is one of the worlds
most densely populated areas.
A major trend remains the on-going internationalisation of retai-
ling. Both retailers and investors are looking increasingly across
borders, with retailers seeing international expansion as a key res-
ponse to the global crisis. However, while dominant locations are in
demand from both groups, there is more variety emerging in the ci-
ties that each will focus on, with more occupiers ready to embrace
less established markets, notably with more interest in emerging
markets. While less risk-averse investors are ready to follow them,
core investors are still focussed on the largest mature markets.
Retailers meanwhile are also adapting their stores, their methods
of operation and their strategies to enhance the customer experi-
ence and to develop their multi-channel offer, with m-commerce
as well as e-commerce a key battleground. Not one strategy can be
assumed to work in all markets but a need for effcient, wired and
well-located visible property is a key theme in all top cities. Retai-
lers, however, are facing decreasing supply for the best space and
with development limited, rents have been bid up. In more secon-
dary areas, the reverse is still true availability is often still rising
and rents remain under pressure.
Europe
.
146
locationgroup research | Retail Market Study 2012 F
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E
A
M
S
T
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147
The section of New Bond Street adjoining Old Bond Street at the
cross street Burlington Gardens is an around 200 meter-long pe-
destrian zone.
Russian jeweller Maxim Voznesensky has signed to open
its frst UK store
The luxury retailer has taken an 18-year lease on a store at Old
Bond Street between De Beers and Etro as well as directly opposi-
te Dolce & Gabbana and Alexander McQueen. Maxim Voznesensky
secured the 66 square metre store after paying a premium of more
than one million pounds. The retailer will pay a rent of 225,000
pounds a year.
The brand was originally launched as Jewellery Theatre in Russia
in 1998, after being set up by Irina Dorofeyeva and Maxim Vozne-
sensky. It currently has a store in Moscow.
Etro moves into a protected landmark building
In August 2011, Etro opened a new 600 square metre store in the
former Agnes and Sons gallery, between Maxim Voznesensky and
Cartier and across from Tods and Alexander McQueen. The reloca-
tion was due to the fact that the existing 300 square metre space
had become too small.
Cartier building sold at a yield of 3,1 %
The Cartier store at 40-41 Old Bond Street has been placed under
offer to the Irish businessman and racehorse owner JP Mc Manus
and Irish property investor Aidan Brooks, for around 18 million
pounds a yield of around 2,8 %.
LONDON is the capital of England and the United Kingdom. The
current administrative area along with its various districts was de-
fned on 1st April, 1965 with the establishment of Greater London,
which has 7,8 million inhabitants, 2,9 million of whom live in the 13
districts of Inner London. Thus London is the EUs most populous
city. The London conurbation has a population of 8,3 million, while
the population of the Greater London Urban Area was around 14
million in 2001.
London is one of the worlds most important cultural, fnancial
and trading centres. Greater London, which is composed of inner
and outer London, is divided into 33 boroughs, including the City of
London and the City of Westminster.
London a shopping destination par excellence
Londons exclusive Mayfair district is vying to overtake Paris, Mi-
lan, New York and Tokyo as the place to go for luxury shopping.
New West End Company (NWEC), which is the marketing agency
for stores on and around Bond Street, Jermyn Street, Oxford Street
and Regent Street, has rolled out its London Luxury campaign.
Of the 600 retailers represented by NWEC, around 300 are luxury
stores in the Bond Street area.
Bond Street, which is located in Londons Mayfair district, is one of
the citys priciest shopping streets. The street is named after Sir
Thomas Bond, a developer who developed the district around Bond
Street in the 17th century. The northern section of Bond Street,
which runs into Oxford Street, is offcially called New Bond Street,
while the southern section, which runs into Piccadilly, is known as
Old Bond Street, which is around half as long as New Bond Street.
37
London, Forever 21 pays 17 million euro key
money
.
Tower Bridge view, London
148
The property is let to the jeweller on a 20-year lease from 1999 at
540,000 pounds a year. It was put up for sale by BA Pension Fund
with a price tag of 16,5 million pounds.
Gucci in new digs
In November 2011, six doors down to the right, Gucci opened its
completely remodelled 685 square metre fagship store on the cor-
ner of Stafford Street.
Prada property sold
The Prada store which is located on Old Bond Street opposite Guc-
ci and Yves Saint Laurent has been purchased by Asset manager
Square Bays private client based in Thailand for nearly 32 million
pounds, refecting a yield of around 3,15 %. The total rent is more
than one million pounds a month. The 1220 square metre building
is let to Prada until 2022.
New Bond Street store sets new record 956 pounds per
square feet and 1,9 million pounds key money
Two years ago, Piaget set a new record for rent: 745,000 pounds
(965 pounds per square feet), plus 1,9 million pounds key money
for the property owner Brooks, which then passed this sum to the
previous tenant, Bulgari.
Churchs debuts on New Bond Street
The latest newcomer on New Bond Street is the 336 year old British
shoe retailer, Churchs, which in September 2011 opened its frst
womens store worldwide in a three-level 75 square metre space.
The new branch is totally dedicated to ladies shoes and accesso-
ries set against a classic cherry wood interior. Churchs have stayed
true to their design ethos and created only traditional fat shoes
in the form of lace-ups and brogues, cut specially for a womans
foot.
Piaget New Bond Street, London
Etro Old Bond Street, London
Gucci Old Bond Street, London
149
Solange Azagury-Partridge
Solange Azagury-Partridge, the former creative director of the
French jewellery house Boucheron and a native of the UK, creates
unusual jewellery with a Pop-Art feel. Having started her jewellery
company 21 years ago, in 1995 she opened her frst London store,
in Notting Hill. In late 2010, she opened a store in the 300 square
metre former Louis Vuitton store, right across from Churchs.
Louis Vuitton reopened London store
The London store re-opened recently after three years of renova-
tion at a cost of 35 million euro. The new venue, which has more
than 1,500 square metres of retail space, carries the entire range
of Louis Vuitton products.
The chief executive of luxury goods company Louis Vuitton Mot
Hennessy (LVMH) has bought three London properties that had
been at the centre of a dispute between the National Asset Ma-
nagement Agency and developer David Daly. At the end of Decem-
ber 2011, Bernard Arnault had agreed to buy the properties on New
Bond Street, Londons most expensive shopping street, for 300
million pounds (358 million euro).
Mr Arnault is Frances richest man and, according to Forbes, has
an estimated net worth of 41 billion dollar (31 billion euro). The
deal was made pending the completion of a legal action taken by
Mr Daly and his family against NAMA over the takeover of loans of
457 million euro. The Commercial Court in Dublin was told that this
case had been settled out of court, which allowed the purchase to
proceed.
17-20 New Bond Street is home to Louis Vuittons fagship London
store, with the other two properties let to American leather goods
retailer Coach and luxury stationer Smythson.
Chanel pays 7 million pounds key money for Nicole Farhi
store
The Paris fashion house Chanel took over the around 1,000 square
metre Nicole Farhi store, which is opposite the new Louis Vuitton
Maison. The rent on the store, whose lease expires in 25 years, is
2.35 million pounds a year, which, while not a record amount, is
rather steep for the space.
Nicole Farhis new fagship store
After 17 years on Bond Street, the London fashion retailer Nicole
Farhi has relocated to a new fagship store at the corner of Conduit
Street and Old Bond Street. The six-level, 660 square metre store,
which is located in a distinctive corner building, was formerly lea-
sed by the fashion retailer Krizia.
Prada throws glamorous gala opening
Prada celebrated the opening of its latest Miu Miu fagship store,
a split-level, more than 370 square metre space in Londons Lan-
caster House at the corner of Bond and Bruton Streets. Held in De-
cember 2010, the gala opening was attended by numerous movie
stars and fashion luminaries such as Jessica Alba, Lily Allen, and
Caroline Sieber.
Solange Azagury-Partridge New Bond Street, London
Louis Vuitton Maison New Bond Street, London
150
Fendi opens new fagship store and European headquar-
ters
The Italian fashion retailer, which took over the former Mallett An-
tiques store for 1,7 million pounds key money, plans to open its new
fagship store in the latter half of 2012. The landlord, Jaymount
Investments, set a new rent of around 1,2 million pounds for the
around 1,000 square metre space. The key money from the sale of
the lease to Fendi will be used to cover renovation costs in the new
space. Mallett decided against renewing their lease in 2008 owing
to a 30 % rent increase.
Missoni donates to Hope Foundation
Three doors down to the right from Mallet, the Italian fashion re-
tailer Missoni celebrated the opening of its second British store in
June 2011 in a three-level, 325 square metre space. To mark the
Rock stars and royals at Tory Burch
The January 2011 opening of Londons new Tory Burch store was
attended by luminaries such as Eliza Doolittle, Jacquetta Wheeler,
and Jade Williams; Princess Tatiana and Prince Nikolaos of Gree-
ce, Baroness Debonaire von Bismarck, and her son Nikolai lent the
event an aristocratic feel. The more than 420 square metre store is
Tory Burchs second European outlet.
Hublot makes additional investments in major upscale
shopping venues
In June 2011, Hublot opened an around 100 square metre store at
a choice New Bond Street location in the former Furla store next
door to the fashion retailer Anne Fontaine and Green gallery. This
was Hublots 36th boutique following the opening of new stores in
Paris, New York, Beverly Hills, Miami and Ginza.
Former Nicole Farhi Store New Bond Street, London
Nicole Fahri Conduit Street, London Curchs New Bond Street, London
151
Miu Miu Flagship Store Bond Street, London
event, a special limited edition of a shoulder bag that
is only available at Missonis New Bond Street store
was created. All proceeds from the sale of these bags
were donated to the Hope Foundation, whose offcial
patron is Bella Freud.
Coach opens frst European store
The US accessories retailer opened its frst European
store on New Bond Street opposite Missoni in the for-
mer Mulberry store, where the New York retailer sells
its products in a 690 square metre space.
New Mulberry fagship store opens on New
Bond Street
After two years of partnering with Universal Design
Studio, the 500 square metre Mulberry store opened in
December 2010 between F. Pinet and Emporio Armani.
A striking visual in the store is its more than eight met-
re long cash desk made of polished copper.
Tory Burch New Bond Street, London
152
Coach New Bond Street, London Tory Burch New Bond Street, London
Car Shoe opens frst British fagship store
The latest Prada store, Car Shoe on Bond Street, covers 105 square
metres. It is located opposite Mulberry and Emporio Armani and
was formerly occupied by Miu Miu.
Victorias Secret debuts in Europe
The US lingerie retailer will be opening its frst European Victorias
Secret in the spring of 2012 at the corner of Brooke Street and
New Bond Street. The opening was announced in the summer of
2010. The 1,500 square metres London store, which was formerly
home to Silver Galeries, will carry Victorias Secret entire line of lin-
gerie and cosmetics. The company plans to open additional outlets
at British shopping malls.
Core Spirit opens fagship store
The fashion retailer Core Spirit opened its frst fagship store in
2011 on New Bond Street, next door to Kronometry, Victorinox
and Calvin Klein. The 424 square metre, split-level store rents for
around 370,000 euro.
Mount Street attracting increasing interest
Grosvenor Group Ltd., which is owned by the Duke of Westminsters
family trusts, has transformed Mount Street in Mayfair into a cen-
Car Shoe New Bond Street, London
153
Hublot New Bond Street, London
tre for designer boutiques like Christian Louboutin,
Marc Jacobs, and Vivienne Westwood.
The venerable raincoat retailer Mackintosh opened
its fagship store at Mount Street 104 in London in
January 2011 in an around 90 square metre split-
level space.
Carolina Herrera boutique opens in London
US fashion designer Carolina Herrera opened a bou-
tique for her CH Carolina Herrera lifestyle brand at
120 Mount Street in Londons Mayfair district, in
a 185 square metre split-level space that carries
womens, mens and childrens fashions plus luxury
accessories and shoes.
Oxford Street is Londons most important and re-
nowned shopping street, and one of Europes most
productive streets in terms of retail sales. Located
in northern Mayfair, Oxford Street extends from
Marble Arch in the west to St Giles Circus in the
east. With more than 200 million visitors a year and
more than 300 stores spread across 500,000 square
metres of retail space, Oxford Street is also Londons
most popular street. The opening of Debenhams
and Selfridges in 1909 marked the beginning of the
streets life as a shopping street.
Mulberry New Bond Street, London
Victorias Secret Models
154
Desigual pays record rent on Oxford Street
This record rent was trumpeted in the headlines of the
London papers. Having leased the former Disney store
(which is sandwiched between Forever 21 and H&M)
from its landlord Prupim for 1,5 million pounds a year,
the Desigual store opened in the summer of 2011. Dis-
ney had been paying 540 pounds a square feet. The
highest store rent on Oxford Street at the time was
615 pounds, and Desiguals new rent is 710 pounds, a
record amount. The stores neighbours now fear that
this steep rent will put them under pressure when the
next rent review rolls around.
The annual rent for the shoe retailer Footlockers Ox-
ford Street store has been raised from 1,8 to 2 milli-
on pounds by its Hong Kong-based landlord, London
Land.
Forever 21 pays record 17 million Euro key
money
In July 2011, Forever 21 opened its frst Oxford Street
store in the former HMV Entertainment store, in a
3,250 square metre space. The retailer paid around
13,75 million pounds (around 17 million euro) key mo-
ney. Annual rent runs to 3,25 million euro on a 15 year
lease.
Core Spirit Flagship Store New Bond Street, London
Loewe Flagship Store Mount Street, London
155
Mount Street Mayfair, London
Disney reopens in a space twice the size of its former digs
A block down the street toward Oxford Circus, Disney opened its
new store in May 2011 next door to Debenhams in a split-level,
4,000 square metre space that is Disneys largest European fag-
ship store and its second largest store worldwide. Customers
began gathering in front of the store at 7 a.m. on the day of the
opening.
Coolway opens frst store outside of Spain
The Spanish shoe retailer Coolway opened its frst UK shop on
Londons Oxford Street. This fagship store, the companys frst
outside of Spain, has around 400 square metres of retail space.
Primark opens second Oxford Street store
Having opened a store on Oxford Circus, Primark has now opened
a second store on Oxford Street, this one at its eastern end, in the
former Virgin Megastore, which covers 7,900 square metres. Its
safe to assume that this move will spur redevelopment of Totten-
ham Court Road.
On the last Saturday of November 2010, the 6,500 square metres
Primark fagship store near Hyde Park registered 820,000 pounds
in sales on a single day a new record. The stores annual sales are
reported to be in the neighbourhood of 3 million pounds.
Londons Regent Street is one of the main shopping streets and
traffc arteries in Londons West End. The street runs north from
Desigual Oxford Street, London
156
Waterloo Place as Lower Regent Street to Piccadilly Circus and be-
hind as The Quadrant and then to Regent Street, where it ends at
Oxford Circus.
The largest programme is the 750 million pound revamp of Regent
Street by Crown Estate, which runs the commercial property origi-
nating from the British monarchys estates.
Forever 21 Oxford Street, London
Hollister comes to Regent Street for 10 million pounds key
money
Rumour has it that Hollister, which belongs to Abercrombie & Fitch,
paid 10 million pounds key money to take over the former Natio-
nal Geographic store on Regent Street. Located on lower Regent
Street near Piccadilly Circus, opposite Uniqlo and Moss Bross, the
three-level, 1 600 square metre Hollister store is set to open before
the Olympics get underway.
Superdry likewise comes to Regent Street for 12 million
pounds key money
Superdry took over the former Austin Reed store on Regent Street
for a record 12 million pounds key money, and pays 2,5 million
pounds a year rent for the 5,500 square metre store, which opened
in December 2011.
Austin Reed invests 5 million pounds in new location
Having spent 13 million pounds on renovating its store back in
2003, the classic British retailer has moved across the street from
100-113 Regent Street, where the store did business for a century,
to 100 Regent Street. The new location has 2,500 square metres of
retail space, for which Austin Reed paid a mere 5 million pounds
key money to Aquascutum.
Crown Estate buys Habitat lease; Burberry buys LK Ben-
nett lease
In the interest of keeping Burberry on Regent Street, where the
stores outlet is now only a block down the street, and in order to
be able to renovate this building, the Regent Street store owner
Crown Estate bought the lease held by the realtor Habitat. At the
Disney Oxford Street, London
157
Primark Oxford Street, London
same time, Burberry took over 1,850 square metres from its neigh-
bour, LK Bennett, for a Burberry statement store and combined the
two stores. Construction will set Burberry back some 20 million
pounds; the retailer hopes to be able to open before the Olympics.
A further boost will also come at the beginning of next year when
the one million square foot Regents Quadrant scheme on the
south-eastern end of the street is completed. Being developed by
Stanhope on behalf of The Crown Estate, it will comprise 70,000
square feet of retail foor-space and a new fve star hotel.
The organisation, which manages property on behalf of the Crown
and which owns Regent Street in the West End, will post its annual
results.
Regent Street was valued at 1,6 billion pounds last year, but that is
likely to have moved closer to 2 billion pound as retailers such as
Superdry battle for a store in the street and drive up rents. The pro-
sperity of Regent Street is positive news for the Queen. From 2013,
she will receive 15 percent of the Crown Estates profts which
are linked to its rental income as part of a new Sovereign Grant.
The Crown Estate has also been on a 250 million pound spending
spree on out-of-town retail parks and shopping centres, such as
Westgate in Oxford, which are thought to have performed well du-
ring the year.
This will highlight the fact that well-located retail sites in regional
centres can still fourish despite fragile consumer confdence from
public spending cuts, tax rises and sovereign debt concerns.
Although retailers such as Jane Norman and TJ Hughes announced
last week that they were being put into administration, better sa-
les fgures from John Lewis revealed that some businesses are
performing well despite the downturn.
Covent Garden in Londons City of Westminster is best known for
the Royal Opera House in its northern section and its fower and
produce market which, however, has since relocated to Nine
Elms. Covent Garden is bounded by High Holborn, Kingsway, The
Strand, and Charing Cross Road.
Superdry Regent Street, London
158
Austin Reed Regent Street, London
Regent Street London
159
Apple opens the biggest Apple store ever
The new Apple fagship store, which extends over three levels in a
historic downtown London building, is the worlds only Apple store
with two of the retailers trademark glass staircases. The 2,300
square metre store opened in mid 2010.
Regent Street London
The actor and writer Stephen Fry, renowned as one of the companys
devotees, wrote on his Twitter feed that the shops prestigious
address No 1, The Piazza, Covent Garden meant that if all
goes wrong, Apple will survive as real-estate owners.
Apple Covent Garden, London
160
First Rugby Ralph Lauren
The frst Rugby Ralph Lauren store opened on Covent Gardens
King Street in August 2011 in an around 530 square metre space,
with additional outlets to follow.
First European Burberry Brit store opens
The London upscale fashion retailer Burberry has opened a Burber-
ry Brit store in London, the frst such store in London and the tenth
Burberry store in the UK. Located on Convent Gardens King Street
in a 930 square metre space, the store sells mens and womens
fashion from the relatively new brand, as well as Burberry eyewear,
watches and perfumes.
Located in the eponymous exclusive West London district, Knights-
bridge Street runs along the southern side of Hyde Park west of
Hyde Park Corner and connects the City of Westminster with the
Royal Boroughs of Kensington and Chelsea.
Eres moves in near Christian Louboutin
The French luxury retailer Eres opened its frst stand-alone London
store in December 2011 near Christian Louboutin. The store is loca-
ted only a few steps away from Harvey Nichols on Knightsbridges
Motcomb Street, which runs parallel to Sloane Street.
Roberto Cavalli and Fendi swap stores
In the summer of 2011, Roberto Cavalli and Fendi swapped stores
because the former wanted a larger space (420 square metres)
while Fendi wanted a smaller one (260 square metres).
UGG opens frst fagship store
The prominent retailer of lamb-fur boots, UGG, opened its frst
London fagship store on Knightsbridges Brompton Road, taking
over the around 90 square metre former Walk Fashion store, where
UGG will be selling a more fashion-oriented line.
National Geographic bids farewell to Regent Street
In December 2011, National Geographic opened a new and subs-
tantially smaller store (372 square metres) on Brompton Road.
Covent Garden, London
Frequency Maifair & Knightsbridge, London (per day in 1,000)

20 30 40 50 60 70 80+
Frequenz pro Tag
161
Tommy Hilfger Brompton Road, London Rugby Store King Street Covent Garden, London
Burberry Brit store Covent Garden, London
162
Harrods Knightsbridge, London
163
Tommy Hilfger opens largest UK store
USA meets Britain: that could have been the motto of the design of
Tommy Hilfgers new London store, where the staircase is decked
out with the Stars and Stripes, the Union Jack, and the Tommy Hil-
fger logo. The stores decor offers a vintage look with patchwork
rugs and furniture thats acquired a patina, combined with the
classic elegance of wooden tables and chequered rear panels. The
770 square metre, split-level store on Brompton Road is the lar-
gest Tommy Hilfger store in the UK.
DoDo debuts in the UK
The Italian jewellery retailer Pomellato has opened its frst Lon-
don fagship store for its DoDo jewellery line. The 150 square met-
re store is located on Sloane Square in the former Bamford & Son
venue.
Bulgari Hotel & Residences to open in London in April
2012
Owned by Ms Rosalia Mera, the ex-wife of Inditex Group (Zara)
founder, one of Spains largest conglomerates, Bulgari Hotel is
scheduled to open in London in April, in time for the Summer Olym-
pics and the Queens Jubilee events. Situated in Londons Knights-
bridge area, the 85-room Bulgari Hotel is managed by Bulgari Ho-
tels and Resorts, a joint venture between Italian jeweller Bulgari
(owned since last year by LVMH) and Marriott International. Bul-
gari Hotel London is the frst luxury newly-built hotel in 40 years
to open in the city. According to the Bulgari Hotels website, a 7th-
foor penthouse is available through Christies International Real
Estate. Although few details are currently available online about
UGG Brompton Road, London
Rococo Chocolates Motcomb Street, London
the penthouse, the website does indicate that it features 9,260
square feet of exquisite living space.
Stratford, which is part of Greater Londons Newham borough, is
an important shopping district for the surrounding area and du-
ring the 2012 Olympics will also be home to Olympic Park, where
a number of event venues will be located, including the Olympic
Stadium.
164
Westfeld Stratford City shopping center
Europes largest shopping mall opens
Europes largest shopping mall, Westfeld Stratford City, has now
opened, in London, ten months ahead of the Olympics. More than
100,000 visitors attended the opening of the mall, which is located
next to Olympic Park in East London. Shoppers spent an estimated
4 million pounds (4.6 million euro) on the malls opening day. The
US fashion retailer Forever 21 had to open its doors before the of-
fcial opening time of 10 a.m. for security reasons, due to the 500-
person line that had formed outside the store.
Westfeld Stratford City, which was built at a cost of 1.8 billion
pounds, contains 250 stores, 70 restaurants, 14 movie theatres,
three hotels, and 12,000 square metres of offce space, spread
across 176,000 square metres. The malls tenants include, apart
from Forever 21, the likes of Gap, H&M, Zara, Hugo Boss, Prada,
Marks & Spencer, Cos, Topshop, New Look, Primark, Hollister, Ur-
ban Outftters and Gilly Hicks. The mall operator, Westfeld Group,
says that around 95 % of the facilitys commercial space had been
rented at the time of the opening event. The combined long-term
sales of Westfeld Stratford City and Londons Westfeld mall is ex-
pected to be around 2 billion pounds, and the two facilities are ex-
pected to attract more than 50 million visitors annually. More than
a million visitors focked to Westfeld Stratford City in its frst week
of operation alone.
Sacoor Brothers store Bluewater shopping center
165
Westfeld Stratford city shopping center
Marks & Spencer has rolled out a number of its new store concepts
at Westfeld Stratford City, where it presents each of its clothing
brands in a clearly segmented fashion. Right across the way, the
US retailer Forever 21s 6,300 square metre store with its glittering
glass facade is a magnet for young shoppers.
Londons Shepherds Bush district is located in Hammersmith and
Fulham Borough, around 8 kilometres west of Charing Cross Road.
Westfeld London in White City/Shepherds Bush
Westfeld London, which opened in 2008, is located in White City/
Shepherds Bush near the centre of London, a ten-minute drive
from Knightsbridge and Hyde Park. The around 150,000 square
metre mall has nearly 270 stores, including market leaders such
as Marks & Spencer, Debenhams, Next, House of Fraser and the
supermarket chain Waitrose, all of which have anchor stores in the
mall. The 25,000 square metre upscale area known as The Village
contains outlets of all major luxury retailers such as Gucci, Dior,
Louis Vuitton and Versace.
Forever 21 opens outlet at Bluewater mall
Bluewater, one of the UKs largest shopping malls, is located around
35 kilometres west of London in the town of Greenhithe in Dart-
ford Borough, where it opened in 1999. The around 155,700 square
metre mall has nearly 330 stores, including Marks & Spencer, John
Lewis and House of Fraser. Bluewater is Londons second largest
shopping mall, after Metro Centre in Gateshead. It is estimated
that around 27 million shoppers a year visit the mall, where around
7,000 persons are employed.
The following retailers opened stores at Bluewater this year, in ad-
dition to Sacoor Brothers and Aspinal:
The British fashion retailer Whistles (85 square metres), the Da-
nish jewellery maker Pandora (around 150 square metres), the US
young-fashion retailer Forever 21 (more than 2,350 square metres)
and the US retailer Sketchers (more than 200 square metres).
166
BRUSSELS (population 1,1 million) is the capital of Belgium, the
countrys most populous city, the headquarters of the organi-
sations of the Flemish and French communities, and the capital
of the Brussels region. Brussels is also the capital of the EU and
home to NATO headquarters.
The choicest retail locations in the ritzy Haut de la Ville shopping
district are to be found on Avenue Louise, Avenue de Toison dOr
and Boulevard de Waterloo. Boulevard de Waterloo, which is op-
posite Avenue de Toison dOr, is indisputably Brussels most re-
nowned luxury shopping district. Even as far back as the late 19th
century, it was Brussels most popular shopping street.
38
Brussels with seventh European
Abercrombie & Fitch
.
Grand Place Brussels
Boulevard de Waterloo is today home to renowned luxury retailers
such as Gucci, Versace, Louis Vuitton and Dior, and is also a superb
residential area with classy restaurants. Burberry opened its frst
Brussels store in September 2010, on Boulevard de Waterloo, whe-
re Hackett, Loro Piana and Jimmy Choo have also opened outlets
of late.
Abercrombie & Fitch opens seventh European outlet in
Brussels
In December 2011, Abercrombie & Fitch opened its frst Belgian
outlet (and fagship store) in an around 1,600 square metre space
on Brussels Boulevard de Waterloo.
167
Burberrry and numerous other newcomers
Burberry opened its frst Brussels store in September
2010, on Boulevard de Waterloo, where it was recently joi-
ned by Brunello Cucinelli, Hackett, Loro Piana, and Jimmy
Choo.
Geox and New Look open new outlets
Geox opened two new stores in Belgium in September 2011,
one at Rue Neuve in Brussels and the other at Leystraat
7 in Antwerp. New Look inaugurated its 780 square metre
fagship store on Rue Neuve in the former WE store.
Tara Jarmon and Frey Wille come to Brussels
The Paris retailer Tara Jarmon has opened a 60 square
metre store on Brussels Avenue Louise. The company,
which was founded in Paris 15 years ago by Tara and David
Jarmon, operates 50 stores.
The Austrian jewellery retailer Frey Wille took over the
Weill fashion store and now pays rent amounting to 1,300
euro per square metre a year.
Forever 21 comes to Rue Neuve
The fashion retailer Forever 21 recently opened two Bel-
gian stores, the frst in the summer of 2011 (3,000 square
metres) on Brussels Rue Neuve, and the second in Ant-
werp.
New Look, Mexx, and H&M with new stores on
Rue Neuve
New Look opened an international fagship store on 780
square metres at Rue Neuve in the former WE store. Also,
Mexx opened a new fagship store in Brussels in Decem-
ber 2011 with retail space of 600 square metres. Finally,
H&M opened the frst menswear store in Brussels in May
2011 at Rue Neuve with retail space of 440 square metres
over three foors.
Desigual opened two stores at the Airport
Desigual opened the frst two stores at the Airport of
Brussels in August 2011 at Terminal B. In September 2011,
a second Desigual store opened at Terminal A with 400
square metres.
Shopping centre activities slowed down
Retail development activity in Belgium has slowed down
considerably with virtually no large schemes coming on-
line in the coming years. While a number of existing shop-
ping centres have expansion plans, none of these are like-
ly to break ground any time soon.
Boulevard de Waterloo Brussels
Opening Abercrombie & Fitch, Brussels
168
A fow of new schemes can be expected to be delivered to the mar-
ket from 2015 onwards, with some notable developers competing
for a new shopping centre to the north of Brussels.
Retail developers in Belgium are confronted with an increasingly
restrictive urban planning, which is especially prohibitive on out-
of-town retail.
New Look Rue Neuve, Brussels
Pull & Bear Rue Neuve, Brussels
Forever 21 Rue Neuve, Brussels
169
ANTWERP is a Belgian port city and the capital of Antwerp pro-
vince. Located in Northern Belgium in the Flanders region, with
472,000 inhabitants Antwerp is the regions most populous city.
Metropolitan Antwerp is the largest urban area in Belgium apart
from the Brussels region.
Antwerp frst became a fashion centre in the mid 1980s when Bel-
gian designers such as Ann Demeulemeester, Dirk Bikkembergs,
Dries Van Noten and Walter Van Beirendonck began causing a stir
at international fashion shows. Belgian fashion designers have
been in the vanguard of the European fashion scene ever since.
The studios of Belgian fashion designers are located in the fa-
shion district between Groenplaats and the citys Royal Museum
of Fine Arts. Upscale international retailers have stores on the dis-
trict Latins Huidevettersstraat, Schuttershofstraat and Hopland
streets. Versace recently leased a new store on Leopoldstraat.
39
Antwerp new with Moncler and Jimmy Choo
.
Antwerp by night
Fountain and Grote Markt, Antwerp
170
Steve Madden debute on Meir
Steve Madden opened the frst European store in Antwerp, Belgi-
um, in April 2011at Meir 17 with 503 square metres over two foors.
The former tenant was M17 Leather Shop.
Forever 21 comes to Meir
Europes largest Forever 21 store opened in the fall of 2011 in a
5,000 square metre, three-level space in Antwerps Meir pedest-
rian zone.
Disney debuts on Meir
In May 2011, Disney opened its frst Belgian store in a split-level,
1,000 square metre space in Antwerps Meir pedestrian zone op-
posite Forever 21.
River Island with new Flagship
River Island opened the new shop in September 2010 at Meir in
Antwerp with retail space of 530 square metres on two foors.
Mexx with new Metropolitan Concept
Mexx opened the new fagship store in October 2011 at Meir in Ant-
werp with a 700 square metre store concept called Metropolitan
Casual Lifestyle.
Disney store Meir, Antwerp
River Island Meir, Brussels
171
American Vintage begins expan-
sion
American Vintage will be opening an out-
let in Antwerp, with stores in France and
Hong Kong to follow.
Fred Perry with the frst Belgian
store in Antwerp
Fred Perry opened the frst Belgian store
in Antwerp in April 2011. The store is lo-
cated at Huidevettersstraat in Antwerp.
Moncler and Jimmy Choo open
stores in Antwerp
In September 2011, Moncler opened a
new 103 square metre store on Antwerps
Schutterhofstraat right next door to the
likewise newly opened 100 square metre
Jimmy Choo store, which replaced the
fashion retailer Weill, while Moncler re-
placed the French retailer Zadig & Vol-
taire. The latter in turn opened a new and
larger store two doors down to the left.
7 For All Mankind joins the luxury
neighbourhood
7 For All Mankind opened its second Eu-
ropean store in Antwerp on 15 June 2010
at Schuttershofstraat in Antwerp.
Hollister opens two stores in one
fell swoop
The US retailer Hollister, which is owned
by Abercrombie & Fitch, recently opened
two stores in top notch Belgian shopping
malls, one at Wijnegem near Antwerp in
a 637 square metre space and the other
at Waasland in Sint-Niklaas in a 770
square metre space.
Jimmy Choo Schuttershoofstraat, Antwerp
172
40
Amsterdam, P.C. Hofstraat is the luxury mile
.
The port city of AMSTERDAM is the capital of the Netherlands and
the countrys most populous city, with 780,152 inhabitants in Ams-
terdam proper, and around 1,1 million in Groot-Amsterdam (greater
Amsterdam), The Amsterdam metropolitan area, which comprises
the Randstad conurbation in northern Holland, has a population of
around 2,3 million. Under the Dutch constitution, Amsterdam has
been the nations capital since 1983, despite the fact that the seat
of government and the royal residence are both located 60 kilome-
tres away in The Hague.
Shops in Amsterdam range from large department stores such as
De Bijenkorf, founded in 1870, and Maison de Bonneterie, a Parisi-
an-style store founded in 1889, to small specialty shops.
Amsterdams high-end shops are found in the streets Pieter Cor-
nelisz Hooftstraat and Cornelis Schuytstraat, which are located
in the vicinity of the Vondelpark. One of Amsterdams busiest high
streets is the narrow medieval Kalverstraat in the heart of the city.
Another shopping area is the Negen Straatjes: nine narrow streets
within the Grachtengordel, the concentric canal system of Amster-
dam. The Negen Straatjes differ from other shopping districts with
the presence of a large diversity of privately owned shops.
Etnies comes to the Continent
The US action sports footwear and apparel retailer Etnies has ope-
ned a 70 square metre store in Amsterdam, which the store says
will be carrying the largest selection of the companys products in
Europe. This will be Etnies second European store after the outlet
that opened this summer in London. Etnies will be opening two or
three additional European stores in 2012.
Following the successful opening of the frst Etnies branch in
London in January, the new outlet will count as the companys se-
cond European fagship store. As there was stiff competition for
the location, the company is particularly proud of the fact that it
will be able to move in. According to Dick Eberhardt, proprietor
of Etnies new Amsterdam store, Etnies is the perfect partner for
Project 2012, when you stop to consider that there are anywhe-
Kracht in Amsterdam
173
re between 700,000 and a million
passers-by here weekly; and so,
Mr. Eberhardt says, all of the ef-
fort that went into obtaining the
lease has totally paid off.
Levis and Denim & Supply
come to Kalverstraat
The new Levis fagship store ope-
ned in a split-level, 250 square
metre space on Amsterdams
main shopping street Kalverstra-
at.
The worlds frst Ralph Lauren
Denim & Supply store opened in
November 2011 on Amsterdams
Kalverstraat in a 200 square met-
re space.
PC Hofstraat: an upscale
shopping street
PC Hooftstraat in Amsterdams
Oud Zuid district extends from
Hobbemastraat to Van Baerlest-
De Buenkorf Department Store, Amsterdam
Levis Kalverstraat, Amsterdam
174
raat. The street is named after Pieter Cor-
neliszoon Hooft, a renowned Dutch 16th
century author and historian, and is near the
Rijksmuseum.
Amsterdam gets its frst two Starbucks
Starbucks opened a new store on Amster-
dams Leidsestraat. A second, larger store
was opened on Beethovenstraat in the
summer of 2010. Starbucks has had a re-
tail presence in the Netherlands since 2007
when the frst coffeehouse opened at Schi-
phol Airport. This is the eleventh Starbucks
store in the Netherlands.
Apple to open a retail store in Amster-
dam
Apple plans to open a retail store in Amster-
dam, in the same building where it set up its
Benelux headquarters last year, Dutch blog
One More Thing reports, citing very reliable
sources.
The building in question is called the Hirsch
building, and it is located on Amsterdams
Leidseplein. Apple has set up its Dutch
headquarters on the third foor, and its retail
store is set to occupy a large portion of the
buildings ground foor.
That space is currently open to visitors as it
temporarily hosts an art gallery, OMT claims.
You can see the map of the ground foor in the
image below, with the space Apple plans to
occupy marked red.
American Vintage debuts on PC Hofst-
raat
In May 2011, the fashion retailer American
Vintage opened a 70 square metre store at
the corner of Van Baerlestraat and PC Hofst-
raat across from the fashion retailer Azzurro.
Formerly, the store was leased by fashion re-
tailer Morgan.
Massimo Dutti opens new store at cor-
ner location
Massimo Dutti, which is a member of the In-
ditex Group, opened a completely renovated
450 square metre store (previously leased by
Oilily) between Filippa K and Dolce & Gabba-
na on ritzy PC Hoofstraat.
Brunello Cucinelli debuts in Holland
The Italian cashmere retailer took over the
150 square metre former Scapa Sports store
next to Herms and across from Hugo Boss.
The key-money payment was not disclosed.
Starbucks at Leidsestraat
Models at P.C. Hoofstraat
Massimo Dutti P.C. Hoofstraat, Amsterdam
175
Corneliani P.C. Hoofstraat, Amsterdam
Escada opening P.C. Hoofstraat, Amsterdam
176
Bulgari and Corneliani opened new Amsterdam stores in
2010
In 2010, Bulgari took over the former Lyppens store between Oger
and Karen Millen, while Corneliani opened a new boutique opposi-
te Louis Vuitton.
New Tiffanys
Having, in 2009, announced plans to open an Amsterdam outlet,
Tiffanys inaugurated its new venue in March 2011 by joining and
renovating two adjacent buildings, a process that took nearly a
year. The store, which is opposite the new Bulgari boutique, covers
195 square metres.
7 For All Mankind debut in Amsterdam
At the beginning of December 2011, the VF Corporation celebra-
ted the opening of the latest fagship store at the best location of
Amsterdam on the right-hand side of Gucci in the former Pasta
Tricolore space.
Escada expanding
In June 2011, the luxury retailer Escada celebrated the opening of
its new 120 square metre fagship store on PC Hoofstraat, in the
former Meyer boutique.
New Taschen store in Amsterdam
Taschen, the well-known publisher of, amongst others, The Big
Book of Breasts, Helmut Newton Polaroids and Linda McCart-
ney Life in Photographs opened its twelfth store right in Ams-
terdam (at PC Hooftstraat). The new store, designed by Philippe
Starck, was THE place to be when the offcial opening took place.
You should defnitely stop by, its a coffee table book heaven!
Announcement of Paul Smith
The English fashion retailer will open its frst Dutch store with 205
square metres in 2012 on PC Hofstraat.
Taschen P.C. Hoofstraat, Amsterdam
Paul Smith Melrose Avenue, Los Angeles
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41
Paris, Moynat a stroke of genius by Bernard
Arnault
.
PARIS is the capital of France and of the le-de-France region. The
Seine divides the city into a northern section (the right bank) and
a southern section (the left bank). Paris proper has 2,2 million in-
habitants, 10,3 million in its urban residential zone, and 12 million
in the Paris metropolitan region. Paris, along with London and New
York, is one of the worlds most important cities.
Pariss Avenue Champs-lyses, which is one of the worlds most
magnifcent boulevards, is located in northwest Paris in the citys
8th arrondissement. Both the Champs-lyses and 8th arrondis-
sement start at Guillaume Coustous group of horse sculptures
known as chevaux de Marly, just west of Place de la Concor-
de. The 1,9 kilometre long and 70 metre wide boulevard ends at
Place Charles de Gaulle, where the Arc de Triomphe is located. The
Champs-lyses comprises the middle section of the backbone of
the unique axe historique (historical axis) a line of monuments,
buildings and thoroughfares that extends from the centre of Paris.
Two long awaited retailers debut in
France Abercrombie & Fitch and
Banana Republic
Abercrombie & Fitch has opened its frst
French store on Avenue des Champs-
lyses in a nearly 3,000 square metre
space in a luxurious building located at
the lower end of the Champs-lyses.
The building is owned by the industri-
alist Dassault family, and Abercrombie
& Fitch pays more than 3 million euro a
year in rent. 2 million euro in key money
was reportedly paid to the former tenant,
Thai Air. The 9,500 square metre, four-
story building has the same design as
the Abercrombie & Fitch stores in New
York, Tokyo and Milan.
In December 2011 and right across the
street, Banana Republic, the fashionable and more upscale brand
of the Gap Group, opened its frst French store in a 1,500 square
metre space. Dolce & Gabbana and Go Sport had previously ex-
pressed interest in the location, but did not bring their store-ope-
ning plans to fruition. In addition, according to well-informed sour-
ces, Gap was competing for this choice location with the Japanese
retailer Uniqlo shortly before the lease was signed. This is Banana
Republics frst store in France.
Marks & Spencer opens Paris fagship store
In November 2011, Marks & Spencer marked a key milestone in its
international expansion program when it celebrated its return to
France by opening a fagship store on Pariss Avenue des Champs-
lyses, where the retailer sells selected womens fashions, linge-
rie, and gourmet food in a 1,400 square metre space. The key mo-
ney paid to the previous tenant Esprit was not disclosed. The rent
on the store is reported to be 3,9 million euro a year.
Paris LaDefense view from the Eiffel Tower
Skyline Paris
179
The opening of this relatively small fagship store whose Champs-
lyses location nonetheless speaks volumes is merely Marks &
Spencers frst step on the path toward building a robust presence
in France, where the company will be opening three additional
stores. This coming August, Marks & Spencer will be opening its
largest French store to date (6,900 square metres) at the So Ouest
mall and is planning new openings for 2013 at the centrally located
Beaugrenelle mall near the Eiffel Tower (4,500 square metres) and
at the Aeroville mall in northeast Paris (4,700 square metres).
H&M pays 20 million euro key money
A year previously and after waiting for many years, H&M opened
its 11th Paris store in a three-level, 2,800 square metre space.
Opening an H&M outlet in a world-renowned location such as this
is no mean feat, and it took the company two years of struggle to
push the project through. Paris offcials opposed the opening of
the store, H&Ms largest French outlet, for three years; for after all
the Champs-lyses had to live up to its reputation. The Champs-
lyses doesnt need H&M, but H&M needs the Champs-lyses,
says Lyne Cohen-Solal, Pariss deputy mayor for business affairs,
who took the view that the worlds most beautiful street, as the
French call it, is a boulevard given over to luxury, culture and en-
tertainment. According to informed sources, H&Ms investment in
the store included 20 million euro key money.
The bag retailer Lancel Boutique simultaneously celebrated the
135th anniversary of its founding and the reopening of its 1,000
square metre store on the Champs-lyses.
Avenue Montaigne originally called the Alle des Veuves (wi-
dows alley) because women in mourning gathered there, but the
street has changed much since those days of the early 18th cen-
tury. The current name comes from Michel de Montaigne, a writer
of the French Renaissance. In the 19th century, the street earned
some renown for its sparkling and colourful Mabille balls on Sa-
turday nights.
Yves Saint Laurent comes to Avenue Montaigne
In early 2012, the Paris fashion retailer Yves Saint Laurent will
be opening its 900 square metre fagship store, after a long wait,
on the upscale shopping street Avenue Montaigne in the former
Escada store. Yves Saint Laurent currently has four Paris stores,
including an outlet on Place Saint-Sulpice that was designed by
Stefano Pilati.
Avenue des Champs-lyes, Paris
Louvre Paris
180
Chanel takes over Jean-Louis Scherrers location
In December 2011, Chanel opened a store in the space just to the
left of Fendi on Avenue Montaigne. The 600 square metre, split-
level fagship store was completely renovated and re-shopftted by
architect Peter Marino. The store carries all Karl Lagerfeld prt--
porter collections, shoes, eyewear, and accessories, as well as all
Chanel timepiece collections.
A year previously, Max Mara opened a store on Avenue Montaig-
ne across from Louis Vuitton, in a space that had been expanded
to 510 square metres and whose facade is composed of four six-
metre long windows.
Abercrombie & Fitch Champs Elyses, Paris
Marks&Spencer Champs lyses, Paris
Jil Sander expanding
The opening of the new Jil Sander fagship store on Paris Avenue
Montaigne brings the number of proprietary stores operated by
the fashion retailer worldwide to 36. The new store is a 450 square
metre split-level space.
Rue du Faubourg Saint-Honor is cited as being one of the most
fashionable streets in the world, thanks to the presence of virtually
every major global fashion house. Like nearby avenue Montaigne,
the street has been consistently dedicated, throughout its length,
to high-fashion stores and other exclusive establishments.
Frequency Paris downtown (per day in 1,000)
20 30 40 50 60 70 80+
Frequenz pro Tag
181
Abercrombie & Fitch opening queue
Banana Republic face to face with A&F
Rue Saint-Honor, of which rue du Faubourg Saint-Honor is now
an extension, began as a road extending west from the northern
edge of the Louvre property. At number 55 is the lyse Palace (Pa-
lais de llyse), the offcial residence of the French President of
the Republic.
Changes on Rue du Faubourg Saint-Honor
In 2011, the British luxury retailer Burberry opened its new fag-
ship store on Rue du Faubourg Saint-Honor in the former Fratelli
Rosetti store, in a 929 square metre space with a 15-metre store-
front. The new location is Burberrys largest and most technologi-
cally advanced store in France. Burberry also opened an around
450 square metre outlet on Boulevard Saint Germain, next door
to a 320 square metre Blugirl Blumarine store that opened in the
summer of 2011.

The Italian cashmere retailer Brunello Cucinelli also opened a
fagship store in the heart of Paris, a split-level 400 square metre
space on Rue du Faubourg Saint-Honor.
Moschino, Bally, Paper Rain, Jenny, and Packham (plus Burberry,
Blumarine, Blugirl and Brunello Cucinelli) are the newcomers at
the prestige location Faubourg One, a commercial complex owned
by the real estate developer Hammerson, which acquired it in 2005
for 56 million euro.
The complex, which displays classic Paris Haussmann architec-
ture, has an over 60-metre facade. The British developer spent 35
million euro on renovating the property, which began in March 2010
and was completed in the summer of 2011. The stores range in size
Lancel Store, Paris
182
Chanel Avenue Montaigne, Paris
from 100 to 830 square metres; of the complexs 3,400 square me-
tres of retail space, 1,500 were newly created. Whereas the former
owner of the property generated rent amounting to just under 3
million euro for 7,700 square metres of space, the new leases for
the revamped property are worth 6 million euro.
Zegna opens new global store
The luxury retailer Ermenegildo Zegna opened an around 500
square metre outlet and its frst French global store in the former
Just Cavalli space on Rue du Faubourg Saint-Honor. The store
was designed by Peter Marino using the companys Milan, Tokyo
and New York global stores as models.
Moynat a stroke of genius by Bernard Arnault and
a venerable luggage brand gives Herms a run for its
money
Having purchased Moynat Malletier in December 2010, a year la-
ter Bernard Arnault opened the eponymous brands frst store in a
200 square metre space next door to Herms. It remains to be seen
whether the newly designed Moynat Malletier line achieves the
same degree of success as the Louis Vuitton line did although Mr.
Arnault says that proft is not the prime consideration here: Sales
are a secondary consideration for the time being. What we want to
do frst is recount the companys history, he told Vogue. Bernard
Arnaults new store carries custom-made suitcases, silk scarves,
leather goods, and Nairs bags. Prices range from 1,000 to well over
10,000 euro.
New Yves Saint Laurent Location, Avenue Montaigne, Paris
183
Moncler enlarges fagship store
The Italian retailer expanded its existing store from 70
to around 150 square metres by taking over the former
Jean de Bonnot location in the neighbouring building
between Faonable and its own store.
Prada and Gucci renovate
Pradas new Paris boutique at 6 Rue du Faubourg Saint-
Honor opened during Paris Fashion Week, 23-26 Ja-
nuary 2012. A presentation of the new Kunstmuseum
24 Ore initiative in collaboration with the Italian artist
Francesco Vezzoli and his AMO exhibition will also be
featured at the gala opening.
Gucci reopened its 1,300 square metre fagship store
on Rue du Faubourg Saint-Honor following a top to
bottom renovation.
Rue Royale and Rue Saint Honor much in
demand
In June 2011, A.P.C. has opened the doors to its seventh
retail shop in its hometown of Paris with approx. 100
square metres on two foors. The store is situated at Rue Royale
next to Gucci, steps away from some of the French capital citys
fnest retail destinations including Chanel, Loro Piana, and Mon-
cler.
The cosmetics retailer Lancaster bought the lease on the 85 square
metre Wempe jewellery store at the corner of Rue Saint Honor
Rue du Faubourg Saint-Honor, Paris
and Rue Royale across from Gucci and plans to open what will be
its eighth French boutique there in February 2012.
Emporio Armani also opened a new 500 square metre store on Rue
Saint Honor in the former Tommy Hilfger location.
lyse-Palace Paris
184
In early 2012, Chlo, which is a member of the Richemont Group,
will be opening its new around 475 square metre store on Rue
Saint Honor.
D opens in Mandarin Oriental building
The Italian fashion retailer Dsquared opened its frst international
mono-brand store in Paris in an around 800 square metre space on
Rue Saint Honor in the building occupied by Pariss new 5-star
restaurant Mandarin Oriental.
Tom Ford to open two boutiques
The US luxury retailer Tom Ford will be opening two fagship stores
simultaneously in 2012 as franchise stores with the retailer Simon
Ibgui. These will be Tom Fords frst two outlets in Paris. The frst
store, an around 350 square metre space, will be on Rue Francois
1er, while the second will be on Rue Saint Honor.
Place Vendme, which is one of Pariss fve royal squares, is near
the Paris Opera House in the 1st arrondissement.
During the French Revolution in 1792, the royal monument was des-
troyed. In the middle of the square is a 44 metre-high monument to
French military victories known as Colonne Vendme (18061810)
with a statue of Napoleon I realized in the style of a Roman emper-
or. The bas-relief for the column was designed by Pierre-Nolasque
Bergeret in the style of the Roman Trojan column.
On the west side of the square at no. 15 is the luxurious Hotel Ritz,
which was founded by Csar Ritz in 1898 and since 1979 has been
owned by the Egyptian billionaire Mohamed Al-Fayed. This is also
where Lady Diana was staying when she set out on the fateful car
ride that led to her death in 1997. The hotels prominent guests have
included Coco Chanel, Ernest Hemingway and Marcel Proust.
The luxury shopping street Faubourg Saint-Honor can be reached
via Rue de Castiglione at the southern end of Place Vendme.
Three newcomers on Place Vendme
At 9 p.m. on 14th June, the Swiss watch company Hublot offcially
opened its new, split-level 180 square metre boutique at Place
Vendme no. 10 one of Pariss ritziest locations.
Across the way, Jager-LeCoultre is expanding its boutique (which
originally opened in 2004) to 500 square metres and plans to reo-
pen in mid to late 2012. Until then, the store will be in temporary
quarters on Rue Saint Honor next door to Hublot.
At the opposite end of Place Vendme the diamond dealer reno-
vated the former Alexandre Reza store, but Louis Vuitton stole the
lease right out from under his nose and will be opening the frst
Louis Vuitton Bijouterie there in 2012 in a 150 square metre space
that has a window facing Place Vendme and four facing Rue de
la Paix.
Burberry Rue du Faubourg Saint-Honor, Paris
Eremenegildo Zegna Rue du Faubourg Saint-Honor, Paris
Moynat Rue du Faubourg Saint-Honor, Paris
185
View from Mandarin Oriental over the streets of Paris
View from Mandarin Oriental over the streets of Paris
186
Richemont setting plan for watch megastore
Compagnie Financire Richemont SA is poised to take over the Pa-
ris building that has been home to mens wear retailer Old England
since 1886 and turn it into a multi-brand luxury watch retailer, a
source familiar with the plans said.
Richemont, which owns brands including Jaeger-LeCoultre, Car-
tier, and Piaget, plans to sign a lease on the space located at Bou-
levard des Capucines near the Paris Opera and a few blocks away
Place Vendome, Paris
Hublot Place Vendome, Paris
from department stores Galeries Lafayette and Le Printemps.
Offcials at Richemont declined to comment, as did Socit Fon-
cire Lyonnaise, the frm that owns the commercial lease to the
building. French daily La Tribune, which did not identify its sour-
ces, has reported that the store was expected to cost 70 million
euro or 94 million dollar at current exchange, and would not open
before late 2012. The move comes as many watch retailers are
strengthening their directly operated retail networks in a bid to
capture the custom of wealthy clients from emerging markets, es-
pecially Asia.
Carolina Herreras frst French store opens in Paris
The New York-based brand has just opened its frst Parisian
boutique at Avenue Castiglione, covering a space of around 300
square metres. Since it was founded in 1980 by Carolina Herrera,
the brand saw the launch of its frst fragrance in 1987 and has
now been part of Puigs brand portfolio since 1995. Today her pro-
ducts are sold under the labels Caroline Herrera New York and
CH Carolina Herrera. The latter was founded in 2003 and offers a
complete wardrobe for women, men and children and it is the line
found at the new Castiglione boutique.
Tally Weijl opens fagship store on Boulevard Haussmann
Tally Weijl inaugurated its 600th store in 2010. This 280 square
metre, split-level fagship store is at a choice location in the heart
of Paris on Boulevard Haussmann. This was Tally Weijls 11th store
in France, and its fourth in Paris in addition to the outlets at La
Defense, Forum des Halles and Parinor.
New openings in Paris
Calzedonia opened its frst Paris store on Rue de Rivoli. With its
nearly 3,000 stores worldwide the undergarment/loungewear
stores Intimissimi and Tezenis and the Calzedonia boutiques for
187
womens, mens and childrens hosiery, and fashion swimwear
Calzedonia is one of Europes leading undergarment and hosiery
chains along with Hunkemller, Womens Secret and Etam, which
respectively have 500, 520 and 600 outlets each.
The French luxury-shoe designer Christian Louboutin opened his
third Parisian store on Rue Jean-Jacques.
Cos, the luxury Hennes & Mauritz chain, opened its fourth store in
Paris in the former Diesel store on Rue de Grenelle in a 200 square
metre space.
The French high-end womens swimwear and lingerie retailer Eres
opened its ffth single-brand store on Paris Rue des Blancs Man-
teaux.
The British womens fashion retailer Karen Millen opened its frst
Paris boutique in an around 70 square metre space on Rue des
Franc-Bourgeois.
The French fashion retailer Laurent Vidal opened its Paris fagship
store in a 300 square metre space on Rue Auber near Galeries
Lafayette and Le Printemps department stores. This is the brands
frst proprietary outlet in Paris where Lauren Vidal plans to open
two additional boutiques in the near future.
The Italian plus-size clothing retailer Marina Rinaldi opened an ad-
ditional outlet on Paris Rue Royale in an around 200 square metre
space.
Aigle opened its ffth Paris store on Rue du Faubourg Saint-Anto-
ine in an around 60 square metre space.
The Italian mens fashions retailer Boggi Milano opened its frst Pa-
ris store on Boulevard St. Germain, bringing the companys French
Jaeger-LeCoultre Place Vendome, Paris
Louis Vuitton Joaillerie Place Vendome, Paris
Carolina Herrera in Paris
188
Lauren Vidal Rue Auber, Paris
store feet to three, after St. Tropez and Cannes.
LVMHs cosmetic chain Sephora recently opened two new Paris
outlets, bringing its Paris store feet to 23. The newcomers are
located at the Centre Commercial La Vache Noire (around 350
square metres) and on Avenue Victor Hugo (174 square metres).
Le Bon March to expand
In December 2011, the Paris department store Le Bon March was
granted a building permit to expand its retail space by 4,000 square
metres, 3,300 square metres for non-food products and 700 for the
stores gourmet food department.
Founded in 1852 by the Baucicaut family, Le Bon March now has
around 33,000 square metres of retail space and is thus smaller
than its Paris competitors Galeries Lafayette (68,000 square me-
tres) and Le Printemps (43,000 square metres).
The store, which is a member of the LVMH Group and is located
on Paris left bank in the affuent 7th arrondissement, will be ce-
lebrating the 160th anniversary of its founding next year. For just
under a year now Le Bon March has been run by Patrice Wagner,
the former general manager of Galeries Lafayette in Berlin and be-
fore that of KaDeWe.
Tally Weijl Boulevard Haussmann, Paris
Les Quatre Temps Shopping Center, La Defense Paris
189
Continental Europes largest shopping mall
Quatre Temps in the La Dfense district
With 210,000 square metres of retail space, Quat-
re Temps is continental Europes largest shopping
mall. It is located in Paris La Defnse business dis-
trict, the largest of its kind in Europe. Traversed by
a 1,2 kilometre long and 250 metre wide pedestrian
zone, planning for La Defnse began in 1955 and the
district is now home to many banks and insurance
companies. The districts most impressive construc-
tions are the Areva, Manhattan, Gan and Total Fina
Elf offce towers, as well as the former convention
centre, CNIT, which is now used partly as a hotel and
partly as a trade show facility. However, the most re-
nowned structure in La Defnse is the Grande Arche
which is a modern take on the Arc de Triomphe.
Among the 1,600 companies that have their offces
here are 14 of Frances 20 largest corporations and
13 of the worlds 50 largest corporations.

Le Bon March, Paris
Louboutin Shop, Paris
190
42
Madrid with third Abercrombie & Fitch
in Europe
.
MADRID (excluding its suburbs) has around 3,3 million inhabitants
and is the third largest city in the EU after London and Berlin. With
a population of around seven million, the Madrid metropolitan area
counts as the largest in Europe.
Among the most popular shopping streets in downtown Madrid are
Calle Preciados, which begins at Puerta del Sol and has outlets of
just about every well-known fashion chain, as well as numerous
cafes and restaurants and Madrids grand boulevard Calle Gran
Va, along with Calle de Goya, which begin at Plaza Coln going
west.
Calle Serrano, which is located in the Salamanca district, is one
of Madrids most upscale streets. The ritzy retail venues on this
Skyline, Madrid
Gran Via, Madrid
191
Calle Serrano, Madrid
Herms Calle Serrano, Madrid
192
extremely long street are clustered around Calle Ortega y Gasset,
which is Madrids second most exclusive retail street, where there
are also numerous prominent jewellery stores and international
luxury retailers.
Abercrombie & Fitch opens third European
store
Abercrombie & Fitch opened its Madrid fagship store
in November 2011 in an around 1,300 square metre
space on Plaza del Marques Salamanca, where the
US store is in excellent company in the guise of nearby
retailers Louis Vuitton, Dior, Jimmy Choo and Dolce &
Gabbana.
Louis Vuitton opens new fagship store
Louis Vuitton (a member of the French luxury retail
group LVMH) opened its new fagship store in the El
Corte Ingls building on Calle Serrano right near the
exclusive shopping street Calle de Claudio Coello
where many luxury retailers are to be found.
Ralph Lauren comes to Madrid
The New York-based clothing retailer Ralph Lauren is
planning to open its frst Madrid fagship store on Cal-
le Ortega y Gasset, only a few steps away from the
new Abercrombie & Fitch.
Michael Kors, Tombolini and Ferrari coming to
Calle Serrano
Likewise just nearby, the New York-based fashion re-
tailer Michael Kors will be opening a new 600 square
metre split-level store on Calle Serrano where the
rent will run to 720,000 euro a year.
The Italian clothing retailer Tombolini opened its frst
Spanish store on Madrids Calle Serrano in October
2011 in an around 150 square metre space opposite
Bally.
In spring 2012, Ferrari will be opening an around 500 square metre
split-level store on Calle Serrano whose previous tenant Tommy
Hilfger relocated to Calle Claudio Coello.
Abercrombie & Fitch Plaza del Marques Salamanca, Madrid
Corte Ingls, paseo de la Castellana, calle Raimundo Fernndez Villaverde, Madrid Louis Vuitton El Corte Ingls, Madrid
193
Gran Via, Madrid Corte Ingls, paseo de la Castellana, calle Raimundo Fernndez Villaverde, Madrid
194
Eres expanding
The French swimwear and lingerie retailer Eres opened its third
Spanish store, after Madrid and Marbella, on Calle Claudio Coello
in an around 60 square metre space.
Until 1960, Madrids Gran Via was the citys largest and most im-
portant shopping street and today still offers numerous boutiques,
movie theatres, and ice cream parlours plus Spains most renow-
ned theatre.
Clarks opened its 54th single-brand Spanish shoe store on Gran
Via in an around 50 square metre space.
Shopping mall in Madrid
Madrid Xanad is a large shopping mall and entertainment cen-
tre in Arroyomolinos, Spain at the Autova de Extremadura section.
The Mall with 110,000 square metres is one of Europes largest and
most recognised with over 222 shops, eateries, and a 15-screen
Cinesa Movie Theater. The main attraction is Madrid SnowZone, a
huge covered track, used for skiing and to go snowboarding.
The main tenants are Cinesa Theaters, El Corte Ingls, Hipercor at
El Corte Ingls, Madrid SnowZone, Apple and Hollister.

New Ralph Lauren store Ortega y Gasset, Madrid
Xanad Einkaufs- und Unterhaltungszentrum, Arroyomolinos (Madrid)
195
Barcelona
196
43
Barcelona, Apple debut at Paseo de Gracia
.
Located on the Mediterranean around 120 kilometres south of the
French Pyrenees and French border, BARCELONA is the capital of
Catalonia and Spains second largest city. Barcelona has around
1,6 million inhabitants, nearly 16 % of whom are foreigners. In ad-
dition, Barcelona is the 11th largest EU city and after Hamburg the
second largest city that is not the capital of an EU member state.
The population of the rea Metropolitana de Barcelona conurbati-
on is 3,16 million while the Barcelona metropolitan area has 4,86
million inhabitants.
Paseo de Gracia, which is 1,5 kilometres long, is a magnifcent boule-
vard and one of the citys most renowned streets. Located in the Ei-
xample district, it connects the Ciutat Vella (old town) district in the
southeast with the Grcia district (after which the street is named)
in the northwest. Passeig de Grcia begins at the corner of Plaa de
Catalunya and Ronda de Sant Pere at the edge of the citys old town
and ends near Plaa de Joan Carles I and Avinguda Diagonal.
Apple comes to Paseo de Gracia
Apple opened its second largest European store (after London) in
Barcelona in an around 2,500 square metre space on the renowned
Paseo de Gracia. The rent runs to around 3,8 million euro a year.
Stella McCartney and Bottega to open mono-brand stores
in Barcelona
British fashion designer Stella McCartney, already present in Spain
through several multi-brand stores, announced the opening of its
frst mono-brand store in Spain in Barcelona, by mid-2012. Situa-
ted at 102 Passeig de Grcia, Barcelonas leading high street, the
Stella McCartney mono-brand boutique will be directly operated.
Stella McCartney is fully owned by the French PPR Group. Another
major opening on Barcelonas Passeig de Grcia will be the frst
Bottega Veneta mono-brand store in Spain. The new Bottega Vene-
ta store in Barcelona is situated close to Stella McCartney and is
likely to open in autumn 2011. Passeig de Grcia is home to most
international luxury brands: Prada, Miu Miu, Emporio Armani, Tif-
fany (all opened in 2011), Brioni, Gucci, Dolce & Gabbana, Louis
Vuitton, Chanel, Herms, Loewe, etc.
Barcelona View
Sagrada Famlia, Barcelona
197
Gaudi Casa Mil at Passeig de Grcia, Barcelona
198
Paseo de Gracia: Very much in demand
Emporio Armani opened an around 620 square metre store in the
former Gonzalo Comella space likewise on Paseo de Gracia, across
from Adidas and Bershka. In addition, there is a Giorgio Armani
fagship store on Calle Jose Ortega y Gasset between Loro Piana
and Dolce & Gabbana as well as a Chanel fagship store.
Superdry and Zadig & Voltaire expanding
The British fashion retailer Supergroup, which owns the young-
fashion chain Superdry, opened a second store in Barcelona in a
200 square metre space in the middle of the citys main shopping
district on Avinguda Diagonal between Paseo de Gracia and the re-
nowned Rambla de Cataluna.
The French fashion retailer Zadig & Voltaire opened a new store
on Paseo de Gracia in an around 200 square metre space that was
formerly home to Caixa Terrassa.
Additional new store openings in Barcelona
The Milan fashion retailer Marni opened a new fagship store in
Barcelona in an around 127 square metre space on Carrer de Pro-
New -Apple Location Paseo de Gracia, Barcelona
Emporio Armani Passeig de Gracia, Barcelona
199
Miu Miu Passeig de Gracia, Barcelona
vena. Marni is the next fashion retailer that will be partnering
with H&M with sales set to begin in March 2012.
Forever 21 lands in Spain
F-21, one of the USs favourite young fashion brands, moved into
new territory with a new store opening in Barcelonas La Maquinis-
ta shopping centre in June 2011. An immense 3,500 square metres
of foor space means Forever 21 is defnitely going to make an im-
pression. This is the brands third store in Europe and its frst in
Spain.
One year before, Hollister opened two stores in Spain, one in Bar-
celona at La Maquinista Shopping Centre and one in Madrid at the
Xanad Mall
Primark Diagnoal Mar, Barcelona
200
Miu Miu Passeig de Gracia, Barcelona
Marni Carrer de Provenca, Barcelona
201
Italys second largest city, MILAN, has around 1,3 milli-
on inhabitants, around 4,8 million including the outly-
ing areas, and around 7,5 million in the Grande Milano
conurbation, making it by far the most populous city in
Italy.
Milan is the heart of Italy when it comes to business, fa-
shion, design, and media, and is thus regarded as Italys
moral capital and its gateway to the world. Milan is
known for a number of things including its Gothic ca-
thedral, its world famous La Scala Milan opera house,
various art treasures including Leonardo da Vincis
Last Supper, its exclusive fashion district, its cultural
life, which sets the tone for all of Italy, its soccer teams
AC Milan and Inter Milan, and for being home to Italys
most renowned convention centre, Fiera Milano.
44
Milan, Prada pays 24 million euro key money
for Galleria Vittorio Emanuele II Space
.
Piazza del Duomo Galleria V. Emanuele II, Milan
Prada Galleria Vittorio Emanuele II, Milan
202
Via Torino has long been one of Milans main shopping streets; it
also connects Piazza Duomo with the characteristic Ticinese dis-
trict. In recent years, via Torino has developed as a shoe mall, with
a plethora of shops geared mainly to the young set. Merchandise
from all-terrain boots to dainty sandals is of differing quality and
ranges from the inexpensive to the medium-to-high priced.
Walking down via Torino from the Duomo, you reach the Ticinese
district.
Guess and Triumph open fagship stores
In December 2011, Guess opened a 300 square metre fagship
store on via Torino, bringing the total number of Guess outlets in
Italy to 157.
In November 2011, Triumph opened a 700 square metre, split-level
store at the corner of via Dante and Piazza Cordusio, and in 2012
plans to open 10 additional Italian stores in top locations in major
cities.
Prada pays 24 million euro key money for Galleria Vitto-
rio Emanuele II space
Italian luxury group Prada won the bid to lease a strategic fag-
ship location within the Vittorio Emanuele II Gallery, adjacent to
the iconic Duomo in the heart of Milan. Prada will take over the
space currently occupied by Mc Donalds, and will engage in major
renovation and restoration works.
The future Prada fagship store at Galleria will cover 5,000 square
metres on eight foors and will feature, besides the store, a cafe
and a contemporary art gallery. This strategic location was targe-
ted by Apple for a Milan fagship as well, however, Prada made a
considerably higher bid. Bids started at a minimum of 57.3 million
euro for the 18-year lease, Corriere della Sera reported, and Prada
offered one-and-a-half times that fgure. Prada has been opera-
ting a store within the Galleria Vittorio Emanuele since 1913.
McDonalds appeals the decision of Palazzo Marino, owners of the
Galleria and remains frm will only move if a similarly attractive
space is offered or, alternatively, 24 million euro in compensation.
The head of the Salotto di Milano organisation, which represents
the tenants of the Galleria, estimates it will be impossible for Pra-
da to even consider opening before Christmas 2012.
Corso Vittore Emanuele is a wide street connecting Piazza Duomo
to Piazza San Babila. During the day, because it is traffc-free and
has porticoes lined with shops particularly clothing and acces-
sory boutiques it is the ideal place for shopping and window-
shopping. Post-war reconstruction has provided for a series of
shop-lined small covered galleries branching from the side of the
Corso.
In the middle, between Corso Vittorio Emanuele and Corso Europa,
these galleries surround the tiny old church of San Vito al Pasqui-
rolo.
McDonalds Vittorio Emanuele I, Milan
Department Store Excelsior, Milan
203
New Coin Group luxury department store
A new around 4,000 square metre department store opened in
September 2011 in the former Excelsior movie theatre, at a re-
ported cost of around 30 million euro to the property owner, the
Coin Group. The store, which was designed by Jean Nouvel, carries
luxury wares from well-known newcomers such as Christian Lou-
boutin, Giuseppe Zanotti, Jimmy Choo, Sergio Rossi, Pierre Hardy
and Repetto.
Gap and Banana Republic debut in Italy
H&Ms US competitor Gap opened a three-level, 3,369 square met-
re store on Corso Vittorio Emanuele in December 2010, at which
time Banana Republic also opened its 1,625 square metre split-
level store next door.
Pirelli opens PZero
In September 2011, Pirelli inaugurated its frst PZero fashion store
in a 1,500 square metre split-level space at Corso Venezia 1. Accor-
ding to Marco Tronchetti Provera, CEO of the Italian tire company,
Brazil and China are the key markets for expansion of the PZero
stores.
Vionnet comes to Italy
The French fashion retailer Vionnet opened its frst mono-brand
store on Corso Monforte in December 2011 in a 200 square metre
space and plans to open additional shops-in-shops in China and
Russia.
Tombolini launches expansion
Fresh from the opening of its Paris and Prague fagship stores, the
Urbisaglia-based retailer also opened its frst fagship store at via
Matteotti 18, near via Montenapoleone.
Via Montenapoleone with the narrow side streets branching off,
claims to be the most elegant street in Milan, and one of the most
sophisticated in all of Europe. Its name dates back to 1804, and
the height of the Napoleonic era. In those days, Milan was teeming
with foreigners who crowded into the city, not only for business re-
Banana Republic Models Corso Vittorio Emanuele, Milan
Gap Corso Vittorio Emanuele, Milan
204
Pirelli Showroom Corso Venezia, Milan
Pirelli Showroom Corso Venezia, Milan
205
asons, but more often than not because as Stendhal, himself a
lover of Milan, pointed out the city was a wealthy republic dedi-
cated to art and pleasure.
Louis Vuitton opens second largest European fagship
store
In September 2011, Louis Vuitton opened a new, fve-level fagship
store at via Montenapoleone 2 in Milan, the companys second lar-
gest European store after its Champs-lyses outlet in Paris. Via
Montenapoleone is Milans ritziest shopping street, and one of
Europes most renowned shopping venues, where numerous luxu-
ry retailers have outposts: Cartier, Dior, Versace, Prada, Alexander
McQueen, Valentino, Salvatore Ferragamo and Ermenegildo Zeg-
na.
Panerai comes to Milan, Paul & Shark opens second
boutique
Offcine Panerai opened a 70 square metre store at the top of
via Montenapoleone opposite Louis Vuitton in June 2011. Paul &
Shark opened a second boutique in September 2011 on this same
street.
Gucci rolls out new boutique concept
In September 2011, Gucci opened its frst immersive retail experi-
ence boutique at via Montenapoleone 5.
Louis Vuitton via Montenapoleone, Milan
Gucci via Montenapoleone, Milan
206
Armani Hotel Milano opens for business after four years
of renovation
Armani Hotel Milano at via Manzoni 31 opened its doors in Novem-
ber 2011 after four years of construction. The hotels seventh foor
contains the Armani Ristorante, Armani lounge and the Armani
Bamboo Bar, while the eighth foor is given over to a 1,200 square
metre ftness centre. The hotels 95 rooms range in price from 400
to 12,000 euro a night, and in size from 45 to 200 square metres.
Zilli opens 40th boutique worldwide
The French fashion retailer Zilli opened a 150 square metre store
at the top of via Gesu, thus bringing the Zilli fagship store feet to
40 worldwide. Zilli will be opening additional mono-brand stores in
Beijing and Shanghai in 2012.
In September 2011, Kiton opened a re-styled 200 square metre
boutique on via Gesu.
Renowned via della Spiga, which features Tods, Dolce & Gabbana,
Moschino, Prada, Tiffany, Giorgio Armani, Brunello Cucinelli and
Moncler stores, forms, with via Montenapoleone, via Manzoni und
via SantAndrea, Milans Quadrilatero della Moda (luxury fashion
shopping district).
Virginia Preo opens second boutique
The cashmere retailer Virginia Preo opened a 40 square metre
split-level boutique at via della Spiga 50 in September 2011. An
additional boutique opened in Venice.
Armani Hotel via Manzoni, Milan
Zilli via Gesu, Milan
207
Pretty Ballerinas debuts
The US shoe retailer Pretty Ballerinas opened its
frst Milan fagship store in April 2011 on via della
Spiga in a 40 square metre space that was former-
ly the Marisa boutique and is decorated entirely in
pink.
Tavecchi makes world debut
In September 2011, the bag retailer Tavecchi open-
ed its frst mono-brand store at via Borgospesso
25 (corner of via della Spiga) in a 120 square metre
split-level space, with 40 square metres designed
as a showroom and the remainder as a store.
Lanvin, Ballin and Duvetica open new fag-
ship stores
In February 2011, Lanvin opened a 150 square met-
re boutique at the corner of via della Spiga and via
Santo Spirito in the former Borbonese store. Addi-
tional openings are planned in Rome and Bologna.
Kiton via Gesu, Milan
Pretty Ballerinas via della Spiga, Milan
208
Pretty Ballerinas via della Spiga, Milan
Lanvin via della Spiga, Milan
In September, the shoe retailer Ballin opened its second
mono-brand boutique in Milan, at via Santo Spirito 5,
the frst having been inaugurated in 2010 at via Col di
Lana 3.
Fresh from store openings in Tokyo, Courmayeur and
Kitzbhel, Duvetica opened its fourth mono-brand store
in October 2011 at via Santo Spirito 22, in a space desig-
ned by the renowned Japanese architect Tadao Ando.
Sportmax expands
With a retail space of over 250 square metres on two
foors, the new SPORTMAX fagship boutique has four
large windows that look onto the street. The stores con-
cept was to create a monochrome spatial effect by using
one main element: the colour tan, the fundamental cha-
racteristic that discreetly blends the furnishing features
with the architecture.
Brunello Cucinelli opens third store on via della
Spiga
In October 2011, Brunello Cucinelli opened a 300 square
metre split-level store on via della Spiga in the former
store operated by Sportmax (a member of the Max Mara
Group).
Corso Buenos Aires is the main communication artery
connecting the city centre with the small business and
large scale industrial district to the north of Milan.
Buenos Aires is the biggest shopping street in the city
and one of the largest in the whole of Europe, compri-
sing dozens of shops offering many different genres of
merchandise, with clothes prevailing. Nowadays, howe-
ver, the stores here tend to change hands increasingly
frequently and the little old shops that were the traditi-
onal mainstay of local trade are disappearing.
Peuterey opens frst store worldwide
The Italian fashion retailer G&P opened a Peuterey fag-
ship store at via della Spiga 6 in downtown Milan in a
140 square metre split-level space. The new store is the
retailers frst following the closing of a temporary store
in Milan in late 2009. The companys second store world-
wide will open on Berlins Kurfrstendamm in 2012.
Lanvin promotion for the opening in Milan
209
Desigual and Mango debut on Corso Buenos
Aires
In October 2011, Desigual opened a 500 square
metre store at the corner of Corso Buenos Aires
and via Ruggero Boscovich, in the former Mo-
disti space. As for Mango, in June 2011 it opened
a 400 square metre store on Milans Corso Bu-
enos Aires, bringing the companys feet of Italian
stores to 64.
Westfeld comes to the Continent
The worlds largest shopping mall developer, Aus-
tralia-based Westfeld, will be opening a premium
shopping mall in Milan in 2015 as a joint venture
with the Italian concern Stilo. The construction of
the around 170,000 square metre mall will cost
roughly 230 million euro.

Sportmax via della Spiga, Milan
Peuterey via della Spiga, Milan
210
45
Rome with new Louis Vuitton Maison
.
Colloseum Rome
211
Gap via del Corso, Rome
ROME, the capital of Italy, has around 2,7 million
inhabitants within the city limits and around 3,3
million including the suburbs, making it Italys most
populous city one that is also referred to as the
Eternal City, largely due to its having been the ca-
pital of the Roman Empire. Rome is Europes oldest
capital city: it is 700 years older than Paris, 710 ye-
ars older than London, around 1,300 years older than
Madrid, and 1,990 years older than Berlin. Rome was
also the frst metropolis in human history,
The Italian fashion retailer Napapijri opened a 100
square metre store on via delle Convertite in March
2011.
Via del Corso (or Corso for short), which is one of
the most renowned streets in Romes old town, runs
from Piazza del Popolo to Piazza Venezia a dis-
tance of around 1,6 kilometres.
Petersdom, Rome
212
Gap opens second store in Italy
The US retailer Gap opened a 1,965 square metre store in July 2011
on via del Corso, where store rents are in the neighbourhood of
3,900 euro per square metre and many international fashion re-
tailers have outlets: Zara, Stefanel, Diesel, Lacoste, Nike, Adidas,
Puma, Ethic, Sandro Ferrone, Energie, Miss Sixty and Foot Locker.
Fossil opened a 350 square metre fagship store at via del Corso
150 in November 2011.
Trussardi 1911 via Condotti, Rome
Dior & Yves Saint Lauren via Condotti, Rome
Herms via Campo Marzio, Rome
213
Newcomers on Piazza San Lorenzo
The new Maison Etoile Louis Vuitton opened in January 2011 on
Piazza San Lorenzo. The 1,200 square metre fagship store has th-
ree levels. 2011 also saw the opening on Piazza San Lorenzo of a
Pasquale Bruni jewellery store.
Herms opens second fagship store
In September 2011, the French luxury retailer Herms opened
its second store in Rome on via Campo Marzio in an around 100
square metre space. Herms other Roman fagship store is on the
ritzy shopping street via Condotti.
Via Condotti Romes ritziest shopping street
Via Condotti is Romes ritziest shopping street, where store rents
are in the neighbourhood of 6,700 euro per square metre a year,
and myriad luxury retailers have outposts: Dior, Gucci, Valentino,
Herms, Armani, La Perla, Prada, Salvatore Ferragamo, Furla, Bur-
berry, Dolce & Gabbana, Bulgari, Louis Vuitton and Montblanc.
The Milan luxury retailer Trussardi opened its new 400 square met-
re Trussardi 1911 fagship store on via Condotti in February 2011.
Furla opens largest store worldwide
The Bologna-based Italian leather goods retailer opened its largest
outlet to date in 2010 on Romes via Condotti in a 415 square metre
store that was designed by Italian architect Andrea Truglio.
Anteprima Babuino, Rome
Louis Vuitton via Condotti, Rome
214
Zadig & Voltaire debuts in Rome
In November 2011, Zadig & Voltaire opened a
200 square metre boutique on via Bocca di
Leone in the former Valentino store.
Stella McCartney opened her second Italian
store (after Milan) on via Borgognona in a 100
square metre space that was formerly leased
by Eddy Monetti.
Pura Lopez and Cadadei open new shoe
stores
In September 2011, the Spanish shoe retailer
Pura Lopez opened its frst Italian store at Pi-
azza di Spagna in the former Dolce & Gabba-
na space. A month later, the Italian shoe retai-
ler Casadei opened a 100 square metre store
next door.
Hoss Intropia opens fagship store
The Spanish womens fashion retailer Hoss
Intropia opened its frst Italian fagship store
in a 300 square metre space at via Dei Due
Macelli 63-65 near Piazza di Spagna. Hoss In-
tropia has 1,500 boutiques in 40 countries.
In November 2011, the US retailer 7 For All
Mankind opened its second Italian fagship
store in an around 70 square metre space on
Romes via delle Carrozze.
Lanvin, Anteprima & Herve Leger debut
on via del Buino
In February 2011, Lanvin and its local franchi-
see opened a 155 square metre store on via
del Babuino.
In November 2011, the designer clothes retai-
ler Anteprima opened its third Italian store in
a 60 square metre space that was designed by
Yuko Nagayama. Anteprima intends to expand
into Asia and Europe in the near future, as well
as to the US, as the company only has stores
in Hawaii at present.
The French retailer Herve Leger opened an
85 square metre boutique in November 2011
on via del Babuino. The company, which was
acquired in 1998 by BCBG Max Azria, has 11 stores worldwide.
Store rents on via Cola di Rienzo half those on via Con-
dotti
Another well-known Rome shopping street is via Cola di Rienzo,
which extends from the centre of Rome to the Tiber and where
store rents are in the neighbourhood of 3,000 euro per square met-
re. Various international retailers such as Coccinelle, Geox, Furla,
Intimissimi, Mandarina Duck, Swatch, Swarovski, Yamamay, Be-
netton and Diesel have stores here.
Hoss Intropia via dei Due Macelli, Rome
Herve Leger, via del Buino, Rome
Brazilian fair in Rome
Having previously opened a store in Londons Kingly Court, in June
2011 Havaianas opened its frst Italian store in a 40 square metre
space on via Belsiana, which runs parallel to via Condotti.
Enzo Mantovani opens third boutique
Fresh from successful store openings in Milan and Desenzano, the
Carpi-based cashmere retailer Enzo Mantovani opened its third
mono-brand store in Rome in a 120 square metre space on via Sis-
tina near Piazza di Spagna and via Condotti.
215
Euroma 2 Shopping Center
Roma Est Shopping Center
Romes most prominent shopping malls are
as follows:
Euroma 2: located at the corner of via Cristofo-
ro Colombo and Viale dellOceano Pacifco; 240
stores, leased by retailers such as the following:
C&K, Energie & Miss Sixty, Morgan, Tommy Hilfger,
Timberland, Guess, Oltre and Foot Locker.
Roma Est: located on via Collatina; 136,000 square
metres, 220 stores, leased by retailers such as Be-
netton, H&M, Foot Locker, Fila, Golden Point, Cal-
zedonia and Intimissimi. The Italian fashion retailer
Harmont & Blaine also opted to kick off its expansi-
on program in Rome by opening a 600 square metre
store on the second level of Roma Est in December
2011.
Porta di Roma: located on via Alberto Lionello, with
210 stores, leased by the likes of Bershka, Benet-
ton, Calvin Klein Jeans, Calzedonia, H&M, Energie,
Miss Sixty, Guess, Zara and Tommy Hilfger.
216
OSLO, which until 1924 was known as Christiana, is Norways ca-
pital and has 600,000 inhabitants within the city limits and around
1.9 million in the Oslo metropolitan area. According to a UBS pri-
ces and earnings survey, Oslo is the most expensive city surveyed,
followed by Zurich and Geneva, even if rents are excluded.
Along Oslos main shopping street, Karl Johans Gate, are govern-
ment building worth seeing such as Storting, Slottet, and the Royal
Palace.
46
Oslo with worlds biggest Ikea presumably
.
Worlds biggest Ikea may open in Oslo in 2014
From a relatively small location in suburban Asker back in the
1960s, to its frst major store at Slependen West of Oslo, Ikea has
since expanded into most Norwegian cities.
Now its 21,500 square metres arent enough to handle demand,
and Ikea offcials want to expand again, to 59,000 square metres.
That would make it bigger than Ikeas fagship store in Stockholm
at 56,000 square metres. If permits and land acquisition succeed,
the new store may open in two to three years.
MQ to hit Norwegian market
Swedish brand MQ started to hit the Norwegian market last year,
with a couple of stores in downtown Oslo. In 2011, they opened
their fagship store in Oslos highstreet Bogstadveien and presen-
ted a show with selected looks from their autumn collection.
H&M opened new fagship with frst H&M Home
H&M opened the new fagship store in Oslo in March 2011 at Bogst-
adveien with 3,000 square metres. The exiting new store is the frst
H&M store in Norway to feature the H&M Home concept. And with
fve foors of shopping, customers can also enjoy an extensive ran-
ge of fashion and accessories for women, men and kids.
Oslo Panorama
Oslo by Night
217
Monsoon Bogstadveien, Oslo
Monsoon fnally opened in Oslo
The British clothing chain Monsoon Accessorize
has opened its frst Nordic fagship store in Bogst-
adveien on 200 square metres in March 2011.
ODLO opened the frst store in Norway
With the opening of the fagship store, the Swiss
company ODLO, the leading manufacturer of func-
tional sportswear, is going back to its Norwegian
roots. The store is also located at Bogstadveien
and was opened in November 2011.
Starbucks to open its frst store in Norway
in 2012 at the Oslo Airport
Starbucks will start its expansion in Norway at
Oslo Airport, which hosts more than 20 million
passengers a year. There is further expansion in
progress at Oslo Airport (OSL) to construct Termi-
nal 2. The work started in 2011 and will be com-
pleted by 2017. OSL will then have a capacity of 28
million passengers annually.
218
STOCKHOLM is Swedens capital city, and at 855 000 (municipa-
lity of Stockholm), 1,37 million or 2,1 million inhabitants (greater
Stockholm area) the biggest city in Scandinavia. Since 1643, the
Kings residence has been at Stockholm.
Everybodys favourite shopping area in Stockholm is Gamla Stan
(Old Town). Site of the Royal Palace, it even attracts such shoppers
as the Queen. The main street for browsing is Vsterlnggatan; many
antiques stores are found here, but dont expect low prices. In the
Sergels Torg area, the main shopping street is Hamngatan, site of
the famous shopping centre Gallerian, at the corner of Hamnga-
tan and Sergels Torg, and crossing the northern rim of Kungst-
rdgrden at Sweden House. Big department stores, such as NK
and hlns, are located nearby.
Many of Stockholms most charming classic cinemas have been
closed in recent years, victims of the competition from modern
Urban Outftters Biblioteksgatan, Oslo
47
Stockholm with many newcomers on
Biblioteksgatan
.
Stockholm
219
Hamngatan, Oslo
Hugo Boss Biblioteksgatan, Stockholm
multiplex screens. The elegant Rda Kvarn on Biblioteksgatan
was recently transformed into an Urban Outftters store.
Hugo Boss relocation
Hugo Boss relocated its fagship store in Stockholm from Birger
Jarlsgatan to Biblioteksgatan in October 2011. The new fagship
store on two storeys will be the companys most high-profle
presence in the Nordic region.
COS new on Biblioteksgatan
Swedish fashion group Hennes & Mauritz launched its brand COS
in Stockholm in the summer of 2011. Its the frst COS store in Swe-
den, which is located in the old premise of Emporio Armanis on
Biblioteksgatan, at the very heart of Stockholms key destination
shopping area. After Stockholm, in the autumn of 2012, COS will
launch their second store in the old cinema Palladium in Gte-
borg.
220
7 For all Mankind Birger Jarlsgatan, Stockholm
Burberry Biblioteksgatan, Stockholm
221
Burberry debute on Biblioteksgatan
Burberry has announced the opening of its very frst store in Swe-
den on Biblioteksgatan at the end of January 2012. The 200 square
metre store is situated over three foors in a historic building from
1900. It was designed by Burberry Chief Creative Offcer Christo-
pher Bailey and features British materials and themes.
7 For All Mankind arrived in Sweden
The American denim brand 7 For All Mankind has opened its frst
Swedish store at Birger Jarlsgatan in Stockholm. The store of 150
square metres has clothes, jeans, and accessories for both women
and men.
Aldo & Topshop with their debuts
The American footwear chain ALDO opens its frst Swedish store
on Sergelgatan in Stockholm in May 2011. Topshop opened their
fagship store on Sergelgatan two months earlier.
Hollister and Monki move into Stockholms newly opened
Gallerian mall
Stockholms frst and largest shopping mall, Gallerian on Hamnga-
tan Street, was completely renovated, and together with its bou-
tiques and department stores constitutes a distinctive power-
shopping destination. Many of the malls new stores and fashion
boutiques, including Hollister and Monki in 500 square metre
spaces each, opened in the summer of 2011. Gallerian Hamngatan, Stockholm
Top Shop Sergelgatan, Stockholm
222
HELSINKI is the capital of Finland. With 589,000 inhabitants, it
is also the countrys most populous city and forms the centre of
the capital region, which is a conurbation with a population of
around 1 million. Helsinki is offcially a bilingual city by virtue of
the fact that 6,2 % of its inhabitants speak Swedish.
Helsinkis main shopping streets are Aleksanterinkatu and Espla-
nadi. The former, which is named after Czar Alexander I, extends
from Senate Square to Mannerheimintie. Aleksanterinkatu is home
to numerous stores, including Stockmann, which is the largest de-
partment store in the Nordic region. Esplanadi, which runs parallel
to Aleksanterinkatu, is composed of two streets, Pohjoisesplanadi
and Etelesplanadi (North and South Esplanade), with a park bet-
ween them.
Lumi opened at Aleksanterinkatu
The new Lumi Helsinki fagship multi-brand fashion boutique ope-
ned in May 2011 at Aleksanterinkatu, opposite the historic site of
the Senate Square and the Helsinki Cathedral, at the crossing of
the busy shopping street of Aleksanterinkatu and Unioninkatu.
This unique area is where Helsinkis vibrant city life and recreati-
onal centre used to be in the good old days from the 18th to the
20th centuries. The new boutique concept will show Lumis exten-
sive collection and its bestseller, the all-in-one Supermarket Bag,
in a unique setting that combines modern with traditional.
48
Helsinki with new openings at Aleksanterinkatu,
Kluuvi and Kmp Galleria
.
Esprit opened opposite Stockmann
Esprits new fagship store with over 1,100 square metres opened
on Aleksanterinkatu 21 opposite Stockmann in spring 2011. The
second store opened in the shopping centre Itkeskus. Itkeskus,
located approximately ten kilometres from the city centre, is the
largest shopping centre in the Nordics comprising a wide range of
domestic and international retailers.
Superdry, Jumpin, and Volcom arrived in Kluuvi shop-
ping centre
In October 2011 was the opening of the new store in the capital of
Finland, Helsinki. Superdry can be found in the brand-new Kluuvi
Mall in the city centre where fashion-loving guests attended the
Malls launch.
The funny fashion brand Jumpin opened a new store in December
2011 in the Kluuvi shopping centre.
The snowboarder brand Volcom celebrated the birth of the most
Northern Volcom Store. The Volcom Pop-Up store opened its doors
into the renewed shopping mall in October 2011 for some fortunate
crowds.
Helsinki Waterfront
223
Aleksanterinkatu Helsinki
Kluuvi Shopping Center, Helsinki
Kiehls Opening Kmp Galleria, Helsinki
Kmp Galleria with new tenants Kiehls and Filippa K
Cosmetics chain Kiehls opened their fagship store in Minkonkatu,
Helsinki, in August 2011 at the Kmp Galleria shopping centre. In
October 2011, Filippa K launched a new concept store, with a retail
space of 140 square metres.
First Starbucks & Stockmann opened new store in
Terminal 2
In August 2011, Stockmann, which is a renowned purveyor of fne
goods, opened its new delicatessen and gift store, just opposite
Cafe Tori between Gates 26 and 27 of Helsinki Airport. The bright
and spacious store offers a total of 214 square metres of retail
space. The frst Starbucks retail store opened in Finland early in
2012 at Helsinki Airport
224
49
Copenhagen new with Lanvin and Moncler on
Strgets stergade
.
COPENHAGEN is the capital of Denmark, the countrys cultural and
economic centre, and the seat of Parliament (Folketing), the fede-
ral government and the monarchy. Copenhagen is one of the most
important cities in Northern Europe, and also one of Europes most
frequently visited cities. The municipality has 540,000 inhabitants,
710,000 within the city limits, and 1,2 million in the Hovedstad-
somrdet metropolitan area.
Strget and Strdet form a highly popular pedestrian shopping
street that extends over more than 1 kilometre, the longest in Eu-
rope.
Lanvin took over Chanel store
Earlier in 2011, Chanel closed the store on stergade. Lanvin is
a worthy successor to Chanel, says Jens Birger Christensen, who
opened the new Lanvin store in September 2011 and looks forward
to the cooperation, adding: We are proud that we have been cho-
sen as a partner, and we expect lots of Lanvin in the coming ye-
ars.
Copenhagen Havn
Strget Copenhagen
225
Moncler took over Noa Noa
Italian outdoor clothing and accessory brand Moncler opened a
fagship store in Copenhagen at stergade. A dark Alp-like room
with fur all over and photos of polar bears creates the setting for
the perfect luxurious winter shopping experience.
First Disney store of Scandinavia
Scandinavias only Disney Store is to be found in Copenhagen at
Amagertorv. In June 2011, the American entertainment giant open-
ed its doors on Strget in the heart of the city. The store is designed
to be an interactive experience for the small consumers Disneys
classic narrative traditions combined with innovative technical so-
lutions that will help visitors to let their imagination fy.
The Disney Store opens with a special ceremony each and every
day where one lucky girl or boy is allowed to turn the big key in the
huge lock shielding the entrance to the store.
Monki opened at Frederiksberggade
In October 2011, Monki opened a new store in Copenhagen at Fre-
deriksberggade. The store has an area of almost 200 square me-
tres on two foors.
White Stuff on Kompagnistrde
English brand White Stuff opened its frst store outside the UK in
the centre of Copenhagen on Kompagnistrde in November 2011.
White Stuff has currently 78 stores in the United Kingdom and was
founded in 1985 by George Treves and Sean Thomas two ski buffs
who frst sold their Boys from the White Stuff T-shirts to pay for
their skiing habit. Twenty-fve years on, and they now sell beautiful
womens, mens, accessories, and home stuff.
MGPA acquires a prime retail property in Copenhagen
MGPA, the independent private equity real-estate investment ad-
visory company, on behalf of MGPA Europe Fund III (the Fund), is
pleased to announce the acquisition of a landmark high-street
retail property, home of the well-known department store Illum
in central Copenhagen. The acquisition is a joint venture with Part-
ners Group and a Canadian institutional investor, where the Fund
holds a majority stake and controlling interest. The purchase price
was in the region of 220 million euro and Senior Debt was provided
by SEB.
Strget on a Saturday, Copenhagen
Moncler Ostergade, Copenhagen
226
The property consists of two adjacent buildings for a total of
40,300 square metres of gross lettable area (GLA) and is located
in Copenhagens prime retail district, benefting from prominent
road frontage on four sides. The most visible corner of the site is at
the junction of the two most prominent pedestrian retail streets in
the city. The majority of the space is leased to historic department
store operator Illum on a 15-year basis, while MGPA also intends
to create high-street retail units, including fagship stores for in-
ternational retailers.
The seller is Magillum Properties A/S, a part of the Solstra Group.
Solstra owns the Illum retail operation as well as the landmark
property KgS Nytorv, housing the Magasin department store, and
other property and retail investments.

Monki Frederiksberggade, Copenhagen
White Stuff Kompagnistrde, Copenhagen
227
50
Warsaw with new opening of Wolf Bracka
Luxury Department Store
.
WARSAW is the capital of Poland, the countrys largest city, and the
tenth most populous city in the EU. Located on the Vistula River in
the Masovian Voivodeship, Warsaw has over 1,7 million inhabitants
and is the centre of a 3,5 million conurbation containing satellite
cities such as Pruszkw, Grodzisk Mazowiecki, yrardw, Woomin,
Otwock, and Legionowo.
Retail space is in demand in Poland in its 40 cities with more than
100,000 inhabitants. As a result of the shortage of quality retail
locations in these cities, landlords often have the upper hand in
lease negotiations. But in small cities, retailers have the advan-
tage, as demand for retail space is lower. Retailers that enter the
Polish market are increasingly particular when it comes to the re-
quirements a retail location must meet.
Moreover, owing to the massive amounts being invested in cons-
truction for the UEFA Euro 2012 soccer championship, the Polish
economy, as well as Polish consumption, is growing at a rate of 3 %
in the current year. Consumption is expected to stagnate in most
EU countries.
For those who like to splurge, Warsaw has a range of designer la-
bels to offer, starting with Plac Trzech Krzyy. Surrounding the
centre-placed church are stores such as Hugo Boss, Escada, Bur-
berry, Deni Cler, Max Mara, Furla, Lacoste, Ermenegildo Zegna, and
newly opened Giorgio Armani.
Warsaw by night
Warsaw City
Old town Warsaw
228
Gucci, Bottega Veneta & Co. opened on ul. Bracka
The Wolf Bracka luxury department store designed by Stefan
Kuryowicz has been opened in Warsaw. The building, which has
a leasable area of app. 11,830 square metres, is located on ul.
Bracka in the city centre. The most well known shops are Bottega
Veneta, Gucci, Giorgio Armani, Yves Saint Laurent and Lanvin.
Cocinelle pressing forward expansion plans
After the recent opening of single-brand Coccinelle stores in Flo-
rence, Minsk, Bratislava, and Yekaterinburg, the leading Italian
manufacturer of bags, shoes and accessories is pressing forward
with its global expansion plans by launching four new boutiques in
Odessa, Lodz and Warsaw at Plac Trzech Krzyy.
Mokotowska Street (situated between Pikna street and Plac Zba-
wiciela) is another perfect boutique location, which for many Var-
sovians is what Bond Street is for Londoners. Here, you can fnd
the Flash store, carrying the labels Krizia, Sak & But, season coll-
ections of Marc Jacobs, Chloe, Roberto Cavalli, and Jimmy Choo
shoes.
The Metropolitan building at Pisudskiego Square attracts with
shops by Dolce & Gabbana, Burlington, or Dior. Meanwhile on
urawia Street, you can stock up on Sergio Rossi heels and fats.
The rumors on the market are the openings of Louis Vuitton and
Chanel on Zota Street 44.
Max Mara opened new fagship store in Warsaw
In March 2011, Max Mara opened one of the frst boutiques in Euro-
pe projected according to the new concept based on Milans Corso
Vittorio Emanuele Max Mara boutique. The store is located on the
prime location of Warsaw, in Nowy Swiat.
Atrium acquires Molo shopping mall Szcecin
In December 2011 the Eastern European property developer At-
rium European Real Estate acquired the Molo shopping mall in
Szczecin, Polands seventh largest city, for 55 million euro. The
Ermenegildo Zegna and Burberry on Plac Trzech Krzyy, Warsaw
Gucci ul. Bracka, Wasaw
Metropolitan-Offce Building on Plac Pisudskiego, Warsaw
229
Arkadia shopping center, Warsaw
mall, which also has an offce complex and service station, was
purchased from PFCE Soparf, a real estate fund that is managed
by CBRE Global Investors. The transaction, which Atrium indicated
was fnanced through a combination of equity and loans, came on
the heels of the companys 191 million euro investment in Pragues
Palc Flra mall. A 10 million euro renovation of the Molo mall was
completed in November 2010, now offers a 26,000 square metres
retail area.
Prior to the Molo acquisition, Atrium owned 19 operational Polish
shopping malls with an aggregate market value of around 926
million euro as at 30 September 2011. In May of that year, Atrium
Nowy Swiat, Warsaw
expanded its activities to Warsaw by purchasing that citys Prome-
nada mall for 171 million euro.
Arkadia
Undeniably, Arkadia is the most popular and beloved Warsaw shop-
ping gallery. It is the largest shopping centre in Eastern Europe,
accommodating 180 stores of top national and foreign brands, 20
restaurants, cafes, and a 15-screen cinema. The shops are spread
over street-like galleries that are built in a circle. This fact makes
Arkadia unlike other malls impossible to get lost in.
Arkadia is conveniently located at the end of the Aleja Jana Pawa
II near Rondo Radosawa (former Babka). It is easily accessible by
230
Arkadia shopping center, Warsaw
Zote Tarasy shopping center, Warsaw
231
several bus and tramway lines as well as by the under-
ground (one tram stop from Dworzec Gdaski station).
Zote Tarasy
This modern multifunctional complex is famous for its
modern design and a giant glass roof, with over a hecta-
re in surface area. Zote Tarasy (the Golden Terraces) has
achieved the title of the best commercial project in the
world. The cascading terraces cover an internal plaza with
fountains and an external one with restaurants, cafes, and
music clubs. The commercial section consists of over 200
stores.
Zote Tarasy is located in the heart of Warsaw near the
central railway station and is easily accessible by any pu-
blic transport.
Galeria Mokotw
Galeria Mokotw is probably the most prestigious shop-
ping centre in Warsaw and the best destination for de-
signer clothing. 240 clothes stores include Clavin Klein,
Lacoste, Versace, Trussardi, Peek & Cloppenburg, as well
as several high-street chains like Mango, Diesel, and Ri-
ver Island. It also has a good selection of restaurants and
snack bars, as well as a multiplex cinema, a play area for
children, and a bowling alley. Galeria Mokotw is located
in Mokotw, the southern part of Warsaw.
Galeria Centrum
Galeria Centrum is located in the heart of the capital
just on the east side of the Palace of Culture and Science.
It is primarily a clothing store as it offers ladies, mens and
junior fashion, lingerie, accessories, footwear, jewellery.
Galeria Centrums success is built on clothing brands like
Autograf, Frodo, Hoffand that are designed exclusively for
Galeria Centrum and available only in its stores. It also has
a decent toy department and a wide selection of cosme-
tics and perfume.
The central location and free parking (if you spend at least
15 euro) make Galeria Centrum a very attractive place to
go shopping.

232
PRAGUE is the capital of Czech Republic and the countrys most
populous city, with 1,25 million inhabitants.
Wenzel Square, the citys most popular gathering place, is located
in Nove Mesto (New City), which was founded in the 14th century;
but all traces of its medieval origins have been erased by a cosmo-
politan boulevard dotted with stylish shopping arcades.
Tiffany will open opposite Gucci
Tiffany will open on Parizska in Prague with retail space of 240
square metres in the summer of 2012. Its former tenant was Ne-
spresso. In the future, Tiffany & Co will also set up boutiques in
Budapest and Warsaw.
La Perla opened on Parizska
La Perla opened its new boutique with luxury lingerie in Prague in
April 2011 at Parizska. 2011 was a strategic year for La Perla as it
51
Prague Tiffany opened opposite Gucci
.
Praque Skyline
La Perla Pariser Street, Praque
233
kept expanding in Asia, while strengthening its presence in Euro-
pe, with the opening of 19 new fagship stores.
Salvatore Ferragamo comes to Eastern Europe
In mid-December 2011 was the opening of the new, spacious Sal-
vatore Ferragamo boutique on Parizska Street. On a sales area
of 210 square metres, the complete assortment of womens and
mens fashion, including accessories, is offered.
Dolce & Gabbana opens frst Czech fagship store
Dolce & Gabbana has opened its frst Czech fagship store in a 144
square metre, centrally located storefront at Parizska. The store
carries womens and mens clothing, and accessories, as well as
casual wear and designer fashion.
Stefanel opens on Parizska
Stefanel is strengthening its presence in Eastern Europe, ha-
ving opened three new concept stores in the region one each
in Prague, Bucharest and Budapest. The 90 square metre store in
Prague is located at the end of Parizska street.
Wenzelsplace, Praque
Paris street, Prague
234
New neighbours on Wenceslas Square
Retailers show growing interest in the citys improved high street.
Funky Spanish fashion brand Desigual recently took up 750 square
metres at no. 1 Wenceslas Square, replacing the previous occu-
pier, BodyFarm, a pharmacy and cosmetics shop. The new store is
Desiguals very frst location in the Czech Republic.
Not far away, the Slovak clothing company Gate has taken up 1,500
square metres for its fagship store, and the Czech mens fashion
brand Blaek opened its 30th store in April 2011, the frst to be
located outside a shopping centre. A major reconstruction is also
under way at no. 4 in the Palc Astra building, which used to be
occupied by Kanzelsberger bookshop. Raiffeisenbank has leased
Salvatore Ferragamo Parizska, Prague
around 700 square metres and intends to build its largest client
centre in Prague there.
Below are some selected Prague shopping malls ordered by locati-
on (from the city centre to the outskirts(.
Myslbek Shopping Gallery
The Myslbek Shopping Gallery opened in 1996 as one of Pragues
frst shopping malls. It connects Pragues New Town and Old Town,
stretching between the busy Na Pkop Street and the historic
Ovocn trh (Fruit Market) behind the Estates Theatre. The site is
named after the sculptor who created the St. Wenceslas statue
on Wenceslas Square. Myslbek Shopping Gallery houses about 30
shops and boutiques, and a few restaurants. Examples of shops
are GANT, Next, Korres, Mothercare, Intersport.
Slovansk dm (Slavic House)
Slovansk dm is another shopping centre located on Na Pkop.
Some stores youll fnd there are Nautica, Mexx, Miss Sixty, Tom-
my Hilfger, Cerruti Jeans, Beltissimo. The restaurants that deser-
ve a mention are Ambiente Brasileiro and Kogo Caf & Ristorante.
Theres also a large outdoor garden and the Palace Cinemas mul-
tiplex theatre.
Palladium shopping center, Prague Palladium mall, Prague
235
Palc Flra shopping center, Prague
Nov Smchov shopping center, Prague
236
Palladium
Palladium is a large shopping gallery located in the centre of
Prague, opposite the Obecn dm (Municipal House). The fve-story
building holds 170 shops and 30 restaurants and cafes. It is an easy
location to get to using public transportation, but in case you are
driving, there are 900 underground parking spaces. Some stores
and restaurants youll fnd there are Au Gourmand, Benetton, C&A,
dm drogeriemarkt, ECCO, H&M, LOccitane, Marks & Spencer, Mo-
thercare, Sparkys, Starbucks, and Villeroy & Boch.
Palc Flra
Palc Flra is one of the larger malls. It opened in 2003. Its four
foors are flled with 120 shops, a food court, a Cinema City mul-
tiplex theatre, and Oskar IMAX. The environment is bright and airy
with an open central lobby. You can walk into the mall right from
inside the Flra metro station (line A).
Myslbek Shopping-Gallery, Prag
Nov Smchov
Nov Smchov is a stylish, modern shopping mall and entertain-
ment centre that spreads across three foors. It is located near the
Andl metro station (line B). Theres a large Tesco supermarket and
Datart electronics store on the ground foor, 150 different shops,
as well as a food court and Palace Cinema multiplex on the third
foor.
237
BUDAPEST is the capital of Hungary and the countrys largest city.
With 1,7 million inhabitants, Budapest counts as the EUs ninth
most populous city; it was founded in 1873 when the cities of Buda
and Pest were combined into a single entity.
Hungarian retail sales are sinking steadily and rapidly
Hungarian retail sales are declining ever more sharply and rapidly.
The rate of decline relative to the prior year was 7,8, 7,5, 7,3 and
6,6 % in November, October, September and July 2011 respectively.
Hence Hungarian retail sales have been declining steadily since
February 2007, i.e. for almost three years. Retail sales from January
to November 2009 were 5 % lower than in the same period in 2008.
Hungarian retail sales amounted to HUF 617,5 billion (2,27 billion
euro) in November 2011. Grocery sales declined 6,5 % in November
2011 and 4 % from January to November relative to the prior year.
Motor fuel sales declined by only 1,5 % in November and were on a
par with the prior year between January and November. However,
this was attributable solely to sharp price increases, and fuel con-
sumption dropped by around 10 %. Cars and car accessory sales,
which are not included in retail sales statistics, declined by 46 %
in November 2011.
Andrssy t: the most important shopping street in the
Paris of the East
Andrssy t links downtown Budapest with the citys heavily woo-
ded parks and with Hsk tere (Heroes Square) via its distinctive
architectural harmony and magnifcence. In 2002, the street, along
with the Fldalatti Metro (subway) line that runs below it, which is
Europes oldest stretch of subway, was named an UNESCO World
Cultural Heritage Site.
52
Budapest, Andrssy t the most important
shopping street in the Paris of the East
.
Budapest Skyline
Opera Andrssy t, Budapest
Max Mara opened on Andrssy t
Max Mara opened a new store in the heart of Eastern Paris with
more than 300 square metres of selling surface, divided into two
foors in Andrssy t. Situated in a prestigious historic building,
the new Max Mara shop fnds its counterpoints in the ancient walls
recently restored and the modern combination of metal and glass.
Roberto Cavalli Franchise Andrew Vajna closed boutique
Roberto Cavalli closed a store in Budapest at Andrssy t in Sep-
tember 2011. The store was opened less than two years ago and
was operated as a franchise by a local company controlled by Hun-
garian producer Andrew Vajna.
238
Tiffany confrmed to open in
Budapest
Tiffany is expected to open in Buda-
pest in 2012. The rumored location is
on Vci utca.
Debenhams opened on Vci utca
The Romanian Debro Holding opened
a Debenhams store in Budapest at the
WestEnd City Centre on Vci utca in Ap-
ril 2011. The sales area is 2 100 square
metres. The company has invested over
1 million euro in the Budapest opening.
A turnover of four million euro was esti-
mated for 2011 for the Hungarian mar-
ket. Debro Holding owns the franchise
rights for Debenhams for 13 countries
in the region.
Hard Rock Cafe debuts in Buda-
pest at the upscale Vci1 shop-
ping mall
The legendary restaurant chain Hard
Rock Cafe opened its frst Budapest
branch in late 2011 at one of Budapests
choicest locations, Vci1 mall, a cen-
trally located Art Nouveau building at
the corner of Vrsmrty tr and Vci
utca that was formerly occupied by the
countrys frst savings bank and then
the Budapest stock exchange, and will
be converted into an upscale shopping
mall by ORCO Property Group.
The Budapest branch of Hard Rock
Cafe covers 1,110 square metres, which
is around 10 % of the malls total foor
space. Apart from ritzy stores and a
magnifcent decor, a gourmet rooftop
restaurant with a panoramic view of
downtown Budapest and the Danube
will take up residence at the mall. Like
Starbucks, Hard Rock Cafe took its
time in coming to Budapest.
Ex Roberto Cavalli Store Andrassy ut, Budapest
Vci1 Luxury-Mall, Budapest
239
53
Bukarest new with Burberry, Gucci and H&M
.
BUCHAREST, the capital of Romania, has around 2 million inhabi-
tants and a conurbation with a population of around 2.6 million,
making it the EUs sixth most populous city.
Bukarests cosmopolitan culture and the strong French infuence
on its architecture have earned it the nickname the Paris of Eas-
tern Europe.
There are a number of major international supermarket chains
such as Carrefour, Cora and METRO operating in Bucharest. At the
moment, the city is undergoing a retail boom, with a large number
of new supermarkets and hypermarkets opened every year (see
supermarkets in Romania). Numerous malls and large shopping
centres have been built since the late 1990s, such as AFI Palace
Cotroceni, Sun Plaza, Bneasa Shopping City, Plaza Romania,
Liberty Center and Unirea Shopping Center. There are also a large
number of traditional retail arcades and markets such as the one
at Obor.
Gucci opened frst mono-brand store
The frst mono-brand Gucci store in Bucharest opened mid De-
cember 2010, despite initial rumours of a possible delay.
Bukarest
Palace Parliament The House of People, Bukarest
240
The Gucci store covers a surface of 280 square metres and is situa-
ted on the groundfoor of Athenee Palace Hilton, Bucharests lea-
ding fve star hotel which has recently completed a major renovati-
on. The location in Bucharest is on the leading shopping high street
of Calea Victoriei with large windows assuring excellent visibility.
The luxury market in Romania
The luxury market in Romania has been among the worst affected
in the Central and Eastern European region, with sales drops of up
to 20 % in 2009 and 30 % in 2010, compared to 2008. According to
CPP, a recovery is not expected before the Fall season of 2011.
Despite the diffcult market conditions, Gucci will likely have a
good performance in Romania due to the notoriety and desirabi-
lity of the brand which ranks among the top three preferred luxury
brands by Romanian wealthy consumers, but also due to the fact
that the brand has a large collection of leather goods.
Calea Victoriei neighbourhood
Unlike many parts of Calea Victoriei which do not have a pe-
destrian area or have a very small one, the Athenee Palace has
a generous pedestrian area. The Gucci store also benefts from
being located within the Athenee Palace Hilton hotel and opposite
to the Radisson Blu, which is the newest 5 star hotel in Bucharest,
both hotels attracting a good number of local wealthy customers
in their food and beverage outlets. The new Gucci store is within
walking distance from the mono-brand boutiques of Rolex (just
opened), Paul & Shark, Ermenegildo Zegna, Emporio Armani (just
opened) and Este Lauder.
Louis Vuitton operates very successfully in Bucharest
The location of Gucci is also exceptional in comparison to Louis
Vuitton, which is situated within the lackluster shopping gallery
of the JW Marriott Hotel, within a distance from the city centre.
The decision to open in Romania is a recognition of the potential
of the Romanian luxury market, rival Louis Vuitton operating a very
Athne Palace, Bukarest
Calea Victoriei, Bukarest
JW Marriott Hotel, Bukarest
241
H&M Opening AFI Palace, Bukarest
Liberty center mall, Bukarest
242
successful store in Bucharest since 2008. Other luxury brands with
mono-brand stores in Bucharest include: Louis Vuitton, Canali,
Hugo Boss, Moschino, Paul & Shark, Ermenegildo Zegna, Pal Zile-
ri. Most other luxury brands (fashion and accessories) are present
within multi-brand stores.
Ermanno Scervino and Valentino mono-brand stores now
open in Bucharest, Escada to follow suit
Italian fashion houses Ermanno Scervino and Valentino inaugura-
ted their mono-brand boutiques in Bucharest in December 2011.
Both stores are also situated within the shopping gallery of the JW
Marriott Hotel in Bucharest and are operated in franchising (diffe-
rent local partners).
Escada is due to open a mono-brand boutique in the same shop-
ping gallery by March 2012, with the same partner that used to be
present until 2008 when it closed down.
The Gucci and Emporio Armani mono-brand stores with high street
locations downtown and increased visibility are doing less than 1,4
million euro in turnover annually. Escada used to be present until
2008 with three mono-brand stores (3 lines), each franchised by
different partners.
Burberry opens in Bucharest
British luxury brand Burberry is set to open its frst store in Bucha-
rest. The 250 square metre store will be operated in franchising by
a local company, with limited experience in luxury retail. Compared
to other capital cities in Eastern Europe, such as Budapest, Kiev,
Warsaw or Belgrade where Burberry stores have prominent cen-
tral locations with maximum visibility, the brand settled for a small
side street, off the main high street Calea Victoriei. The chosen
location also has challenging access, the street being a one way,
small one, with limited parking.
H&M debut in Bucharest
H&M opened the frst new store in Romania in March 2011 at AFI
Palace Cotroceni, Bucharest, with selling space of 1,700 square
metres. This was the frst of a series of 5 store openings set to
happen until mid-April. H&M representatives have said Romania
is actually the frst country where it will open eight units within
one year.
3 more shopping centers opened in Bucharest
This was an exciting autumn for Bucharests retail scene in 2011,
with three commercial centres opening their doors. The frst was
the Vitantis Shopping Center, which opened in mid-September. It
Vitantis shopping center, Bukarest
243
was followed by the Liberty Center at the end of October, and the
Fashion House Outlet the frst of its kind in Romania at the end
of November.
Perhaps the most eagerly awaited of the new projects is the Fa-
shion House Outlet, which is part of a larger project, West Park,
being developed by Liebrecht & Wood. Among the brands that have
already rented space are international retailers Puma, Benetton,
Mango and Levi Strauss & Co., who will line up next to smaller
players like Steilmann, Leonardo, Bigotti, Cavaliere, Alb si Negru
and Jolidon. The 120 million euro project has around 20,000 square
metres of space in 130 shops.
Liberty Center, the frst mall developed in Romania by Irish group
Mivan Developments, was fully let, with the opening on 31st Oc-
tober. Liberty Center offers 25,000 square metres of shopping on
three levels, with 100 stores and 700 underground parking spaces.
The developer has allocated 750 million euro for investment in
commercial projects over the next three to four years, of which Li-
berty Center accounts for around 70 million euro.
Vitantis Shopping Center opened its third and fnal stage featu-
ring furniture retailer Mobila Bontas and a commercial gallery of
85 shops. The total leased area is 11,300 square metres; phases
one and two of Vitantis (a Carrefour hypermarket and the DIY store
Praktiker) opened in the summer. Vitantis is owned by Equest, part
of Equest Balkan Properties, which acquired the retail park in 2006
for 31,6 million euro.

Sun Plaza shopping center, Bukarest
244
MOSCOW is the capital of the Russian Federation with 11,5 million
inhabitants, it is the countrys most populous city, and with 14,6
million inhabitants in the Moscow conurbation, it is Europes most
populous city.
GUM Moscows largest and most renowned department store,
and one of the largest in the world is located in the heart of
Moscow on Red Square and across from the Lenin Mausoleum and
the Kremlin.
Among Moscows most popular shopping streets are Nowy Arbat,
a main thoroughfare west of the Kremlin, and Arbat Street, which
runs parallel to Nowy Arbat and is Moscows oldest pedestrian
54
Moscow, Salvatore Ferragamo with frst mens
monobrand store
.
zone. The citys most prominent shopping street, where a number
of ritzy boutiques have outlets, is Twerskaja Street, which runs
north from Red Square.
Numerous well-established international retail chains have set
up shops in Moscow (and increasingly in other major Russian ci-
ties), including Metro Cash & Carry, Real, Marktkauf, Spar, Auchan,
Obi and Ikea. In addition, along the major arteries leading into and
out of Moscow, as well as on the Moscow Ring Road (MKAD) new
shopping malls spring up every year that offer all the modern com-
forts and virtually any product a shopper could want. Particularly
popular are Moscows gargantuan MEGA malls, which apart from
a broad range of shopping options, also contain multiplex movie
theatres and ice skating rinks and offer extensive entertainment
programs.
The outlook for the Russian retail sector is good, despite
the fnancial and economic crisis
Russia offers myriad expansion opportunities for companies and
investors alike owing to its size, as well as the extensive infrastruc-
ture and modernisation catch-up measures that remain, plus the
countrys prospects for economic growth. This applies not only to
Moscow, the world class metropolis with its prestige properties
such as Europes tallest apartment building Triumph Palace; and
Crystal Island, the worlds largest building (on its completion). For
thanks to the Inter Ikea Group as well as luxury malls developed by
Russian oligarchs, Moscow is also fast becoming a self-assured
trendsetter for international architecture and fashion. However,
Russias second and third tier cities have also begun appearing on
the radar of international retail chains and investors.
Kreml Moscow
Kreml & Moskwa river, Moscow
245
Foreign investors are back
The aforesaid prospects are also attracting foreign investors to Rus-
sia, primarily from the BRIC states, i.e. Brazil, Russia, India and Chi-
na.
There has never been a better time to invest in the
Russian market
Numerous indicators attest to the fact that this is an excellent time
for retailers to invest in the Russian market. Both, retail rents and
construction costs are declining due to the fact that investors are in-
creasingly reluctant to invest in real estate. For example, investment
costs for commercial buildings such as hypermarkets have decre-
ased to 600 dollar a square metre since the outbreak of the economic
crisis in Russia. Suitable land runs anywhere from 50 to 100 dollar a
square metre, down from 300 to 500 dollar only a year ago.
As for rents, store tenants can demand 20 to 30 % discounts nowa-
days, and get them too, since landlords are interested in renting to
reliable long-term tenants.
Prada and Miu Miu debut in Russia
In 2010, Prada announced that they are going to cease its colla-
boration with leading Russian luxury retailer Mercury Group and
are going to open its own, directly operated store in Moscow, by
mid-2011. Prada has had a franchising and distribution agreement
with Mercury for more than ten years on exclusive terms. Mercury
is not only a retailer but also owns key retail such as the TSUM
department store in Moscow.
Gum Moscow
Gum shopping mall, Mosow
246
Ulysse Nardin fagship store opened in Nikolskaya Street
The opening ceremony of the Ulysse Nardin fagship store in
Moscow was similar to a scene from a fairy tale. Nikolskaya Street,
a stones throw from the Red Square, was closed to all traffc while
a renowned fully uniformed band marched down the street to fa-
mous Russian military tunes, stopping in front of the boutique.
A white covered carriage pulled by two white horses followed with
Mr. Rolf Schnyder accompanied by Anna Chapman. Local, national
and international press and television were waiting in front of the
boutique to capture the important ribbon cutting ceremony.
Tom Ford with womens boutique
Tom Ford inaugurated its second European mono-brand space de-
dicated to his womens line, in Moscow at Tretyakov Passage (Tre-
tyakovsky Proyezd), a historical complex of buildings which also
houses stores of Ralph Lauren, Tiffany, Yves Saint Laurent, Dolce &
Gabbana, Chopard, Baccarat etc.
Tom Ford attended the event in Moscow personally, which also
marked the launch of his latest perfume Violet Blonde, with a
dedicated corner within the TSUM Department Store. Tom Fords
womens boutique at Tretyakov Passage covers a surface of 150
square metres. The new Tom Ford boutique is operated in franchi-
sing by leading Russian luxury retailer Mercury Group, which has
been operating Tom Fords mens mono-brand in Moscow since
early 2009, at Barvikha Village shopping gallery. Mercury Group is
also the owner of Tretyakov Passage, Tsum Department store, Bar-
vikha Village Hotel and shopping gallery and several other luxury
real estate.
Novy Arbat Moscow
Old Arbat Street, Moscow
Stoleshnikov Pereulok, Moscow
247
Miu Miu Stoleshnikov Pereulok, Moscow
Lanvin opened three new boutiques
Lanvin already holds presence in Moscows Tsum
giant department store and opened three freestan-
ding boutiques in September 2011 in the Crocus
Mall, Barvikha Village centre, and the luxury Tretya-
kovsky Passage.
Salvatore Ferragamo with frst mens mono-
brand store
Salvatore Ferragamo opened its frst mens mono-
brand store in the GUM Shopping Complex on Red
Square, in the heart of Moscow. The shop is located
on the second foor of 1st line, which lines mens
luxury brands boutiques. In the new shop, which
has an area of 60 square metres, all categories of
mens fashion will be sold clothes, accessories,
footwear, glasses, and perfumes.
The new boutique will be managed by Salvatore
Ferragamo, in partnership with their Russian part-
ners, JamilCo Group. The opening of the boutique in
GUM is part of a broader strategy by Salvatore Fer-
ragamo to strengthen itself in the Russian market,
which has begun when they opened their frst retail
boutique in Moscow in 2002.
Nikolskaya-Street, Moscow
248
Cindy Crawford opened Omega fagship
Legendary supermodel and Omegas longest-running ambassador,
Cindy Crawford, was the marquee name at the gala opening of the
Swiss watch manufactures new-look boutique at the posh GUM
department store in Moscow.
At the dramatically lit Pashkov House in Moscow, Omega president
Stephen Urquhart and Cindy Crawford mingled with VIP guests and
friends of the brand, who were entertained by actors dressed whim-
sically as watchmakers and a stunning display of Omegas Constel-
lation timepieces, specially fown in from the Swiss headquarters.
Infnite luxury, glamour and beauty beyond words Phil-
ipp Plein invited to his premiere in Russia and Moscows
haute vole followed
Tretiakov Plaza, the new premium location in Moscow downtown,
became the spot devoted to the opening of the frst Philipp Plein
mono-brand boutique in Russia in March 2011. The event was hos-
ted by Olga Rodionova. The designer himself arrived at the entrance
accompanied by Miss Russia 2010.
Reiss opens third Russian store
The British fashion retailer Reiss opened a 257 square metre out-
let at the Metropolis mall in December 2011, making this the
companys third Russian store after its 290 square metre outlet
at St. Petersburgs SEC Galeria and a 450 square metre store at
Moscows Tsvetnoy Central Market.
Apple coming to Moscow
Apple will be opening a 1,500 square metre store in Moscow in
2012.
Gap Inc. expands presence in Russia with frst Banana
Republic store
Continuing with its global expansion strategy, Gap Inc. opened
the frst Banana Republic store with 600 square metres in Russia
through its franchise channel.
The store is located in Moscows AfMall City, the largest shop-
ping and entertainment complex in the city. Gap Inc. frst made its
products available to Russian consumers in 2008 with its frst Gap
store. Since then, the company has expanded its store base to ele-
ven franchise stores in the market, including nine in Moscow. The
new store will be managed under Gaps existing franchise agree-
ment with Fiba Holding, which also manages the brands franchise
locations in Turkey and the Ukraine.
Uniqlo is opening its third store in Russia
The third Uniqlo shop was opened in the new trade entertainment
centre AfMall City, located in the largest and most ambitious busi-
ness investment project in Europe Moscow City. Uniqlo chose
this particular place for its third store because of its advantageous
location and large traffc of customers, as well as taking into ac-
count space requirements over 1,500 square metres. At present,
the new store is the biggest Uniqlo in Moscow.
Tsum Department Store, Moscow
Rolf Schnyder and Anna Chapman
Cindy Crawford
249
Tom Ford commercial Russia
250
Philipp Plein Flagship, Moscow
Barvikha Village Center
Immofnanz acquires the remaining 25 % share in
Moscows GoodZone mall
Immofnanz has acquired the remaining 25 % share in the Moscows
GoodZone mall, which is currently under construction. The purcha-
se price was not disclosed. GoodZone counts as one of Moscows
largest retail projects ever and is the second largest investment
Immofnanz in Moscow. The frst construction phase will involve
realisation of around 50,000 square metres of retail space at a cost
of around 85 million euros, with development potential amounting
to an additional 17,000 square metres in a second phase.
Immofnanz acquired the initial 75 % of the project back in July
2007. The economic crisis of 2008 and 2009 resulted in a temporary
suspension of construction activities. As a result of intensive nego-
tiations, Immofnanzs acquisition of the remaining share will allow
for completion of the mall, which is scheduled to open in 2012.
251
Philipp Plein Flagship, Moscow
Planned Mall GoodZone, Moscow
252
Af Mall, Moscow
253
55
Zagreb with superb luxury shopping in the
centre
.
ZAGREB, which is the capital of Croatia and the countrys most
populous city, is also Croatias only city whose population (inclu-
ding suburbs) exceeds 1 million. The estimated population of this
area is put at around 1,1 million, or 1,2 million to 1,6 million, res-
pectively.
Visitors from nearby EU states are increasingly discovering that
Zagreb is a city that offers shopping bargains galore. In addition to
a growing number of malls on Zagrebs eastern and western outs-
kirts such as King Cross, Avenue Mall, City Centre One, and West
Gate, the centre of Zagreb is also a terrifc shopping destination,
particularly its main shopping street Ilica with its numerous tradi-
tional-handcraft stores that sell hand-crafted shoes, hats, leather
bags, as well as jewellery stores and various boutiques.
Peek & Cloppenburg sets up shop in Zagreb
Peek & Cloppenburg opened its second Zagreb store in 2009 at
Westgate Shopping City mall in the Jablanovec district in a split-
level 3,700 square metre space.
New City Centre Group mall planned with Peek & Clop-
penburg aboard
Fresh from the success of its mall projects to date, in 2012, City
Centre Group will be opening a new mall near Zagrebs Zitnjak dis-
trict, where Peek & Cloppenburg will also be opening a new outlet,
since, in the companys view, they have done quite well in Zagreb
thus far.
Superb luxury shopping in the centre of Zagreb
New luxury and multi-brand store Modiana has opened at the
end of 2011 in the City Center One Zagreb. The new Modiana store
extends to more than one thousand square metres deluxe retail
space. Fashion lovers will enjoy the rich variety of womens and
mens clothing and accessories from the collections of world fa-
mous brands such as Betty Barclay, Sinequanone, Mexx, Corazon,
Apanage, Erich Fend, Fairly, Bugatti, U.S. Polo, Milestone, Brac-
cialini, Navigare, Pierre Cardin, Strellson, Rife, and many others.
Tag Heuer new attraction at Cvjetni mall
Located in the very heart of Zagreb, on the famous Cvjetni Square,
Cvjetni Mall is the brand new shopping destination for Croatian
people and tourists. Cvjetni Square is the main destination for all
the citys residents, and many others from the suburban surroun-
dings and large regional centres such as Karlovac, Samobor and
Varadin. It is not unusual for residents of these cities to fulfll
their weekend shopping needs in the metropolitan area. Tag Heuer
chose this vivid environment to open up its 108th boutique, where
customers will be pampered on 42 square metre retail space.
Zagreb Panorama
Avenue Mall, Zagreb
254
H&M opened store in Zagreb last spring
H&M opened the frst new store in Croatia in April
2011 at Arena Centre in Zagreb with a total retail
space of 1,800 square metres. Besides the collec-
tions for women and men, it is also featuring collec-
tions for kids.
City Center One, Zagreb
Burberry Opening Centar Kaptol
255
KFC launches expansion into Croatia
Kentucky Fried Chicken, worlds most popular chicken restaurant
chain, has opened its frst restaurant in Croatia, located at Arena
Center in Zagreb. KFC will provide work opportunity for 30 people
immediately and planned further openings will multiply this num-
ber. Every day, more than 12 million customers are served at over
15,000 KFC restaurants, in 109 countries worldwide.
Caleidos looking to enter the Croatian market
At the commercial and economic heart of the Croatian capital, the
central avenue Ilica, Italian bag and accessories brand Caleidos
opened up a new store at the end of 2011. The arrival to Croatia
is due to a partnership with an important local businessman. The
brands expansion plans are said to be very ambitious and more
openings are planned for other major cities such as Rieka, Zadar,
Split and Dubrovnik.
Ikea invests 1 billion euro
Ikea opened the frst store in Croatia in 2011 at Rugvica, approx.
20 kilometres from the capital Zagreb with retail space of 26,000
square metres. Ikea intends to open another store in Split as well
as in Slovenia and Serbia with total investment around 1 billion
euro.

Centar Kaptol Shopping Center, Zagreb
H&M Opening Arena Centar, Zagreb
256
BELGRADE is the capital of Serbia. The surface area of the city
centre is 36 square kilometres, and that of the surrounding sub-
urbs 2,800 square kilometres although portions of some suburbs
are offcially located in the city centre. Together, these entities
form Okrug Belgrade, whose population is 1,7 million and with 1,2
million inhabitants, Belgrade is Serbias most populous city, as
well as the centre of the countrys political, cultural and economic
activities.
Belgrade is also Serbias most popular tourist city, thanks to its
location, its magnifcent buildings, its historic monuments, its ex-
tensive cultural offerings, its shopping streets, and its excellent
nightlife. The city has a large number of hotels and hostels.
56
Belgrade new with Armani, Burberry
and Fly London
.
Terazije is Belgrades designated center
Terazije is the central square and an urban neighbourhood of Bel-
grade, the capital of Serbia. It is located in the Belgrade municipa-
lity of Stari Grad.
Despite the fact that many Belgraders consider the Republic
Square or Kalemegdan to be the citys centerpiece areas, Terazije
is Belgrades designated center. Terazije itself is also a short street,
connected by the King Milan Street, the main street in Belgrade, to
the Slavija square, by the Nikola Pai Square to the King Alexan-
der Boulevard, the longest street in Belgrade, by Prizrenska street
to the neighbourhood of Zeleni Venac and further to Novi Beograd,
and by the Kolareva street to the Square of the Republic.
Belgrade
257
Apart from the citys existing shopping malls (Usce, Merctor, and
Delta City) there is also Delta Planet on Autokommanda, which is
currently under construction and on completion will be the citys
largest mall. These malls are known for their broad and overwhel-
mingly international selection of products, as is Knez Mihailova, a
shopping street in the Stari Beograd district.
Delta City Belgrade construction began in March 2006
The shopping mall is managed by Delta City, owned by Delta Hol-
ding, a Serbian conglomerate. Designed by Israeli architects MYS,
the project costs 74 million euro. Delta City opened its doors to pu-
blic on 1st November, 2007 and is located in New Belgrades Blok
67.
With foor area of 87,000 square metres, it is the frst shopping mall
with a size like this in Serbia. Its total gross leasable area is 30,000
square metres. Some of the stores in the mall include: Nike, Zara,
Mexx, Calvin Klein, Diesel, Energie, Marks & Spencer, Adidas, Miss
Sixty, Reebok, Loris Azzaro, Tommy Hilfger, Mango, Esprit, Oysho,
Bershka, Sephora, LOccitane, Pull and Bear, Tom Tailor, Massimo
Dutti, Stradivarius, Tally Weijl, Geox, Offce Shoes and others.
The mall also includes 15 restaurants as well as 3 restaurant
chains: Kentucky Fried Chicken, McDonalds and Costa Coffee.
Delta City can serve 200,000 people within a 10 minute walk, and
600,000 within a 10 minute drive.
Although it is the frst true shopping mall in Serbia, Delta City will
probably have lots of competition in the near future. Ue Centre
as part of Ue Tower is larger than Delta City; it opened at the end
of March 2008.
Burberry in Belgrade since spring 2010
Burberry has opened its frst store in Belgrade in spring 2010. The
store, located at Terazije has a foor area of 290 square metres. The
store was designed according to the new Burberry concept. The
design concept features the use of Brit themes and materials in
contemporary applications.
Armani opens a 270 square metre store
Giorgio Armani has offcially opened their frst Emporio Armani
store in Serbia in October 2010, covering over 270 square metres.
Its interior design is a work of Giorgio Armani and his world-renow-
ned team of architects.
Fly London opens an offce in Belgrade
Fly London opened a new store near the Terazije Camper in Bel-
grade in November 2011. The English brand, founded in London in
1994, strives now for an eastern European expansion with its sho-
es and accessoires.
Delta Planet, Belgrade
Delta City, Belgrade
Burberry Terazije, Belgrade
258
Mimimaso: the new star in the frmament of the Choomich
design district
Mimimaso opened on 21st December, 2011 at umievo sokae
a new store in Belgrade. The shop is located in Choomich Design
district that brings together all Belgrade designers.
Gap opens 200th franchise store
Gap opened in Serbia in September 2011 at Knez Mihailova Street.
Their franchise partner is the Greek Marinopoulos Group, which is
also responsible for the franchise stores in Greece, Bulgaria, Cro-
atia, Romania and Cyprus. This is the companys 200th franchise
Gap store. The store will show products from their Gap, GapKids
and babyGap collections.
AMC opens in Belgrade; Serbian fashion brands up and
coming
Afrodite Mode Collection (AMC), a well-known Serbian fashion
brand which creates very sophisticated collections, has opened in
March 2011 in Belgrade. Clients will be able to shop on approx. 36
square metre retail area with a stylish interior design.
Mr. Bricolage DIY chain expanding
The international expansion of well-known retail chain Mr. Brico-
lage, continues with the opening of their frst store in Belgrade,
which is the third store in Serbia.
The company, with 2,1 billion euro turnover and 1,6 million square
metres of retail space, is among the worlds four largest hypermar-
ket chains which operates through the network of 652 stores on
4 continents. The lease in Serbia is 3 000 square metres of retail
space at Shopping Center Pasino brdo.
Fur retailer unaffected by economic crisis
In December 2011, Avanti Furs announced plans to relocate to a
new and sumptuous store on Sava Centar, a move the retailer said
was necessary to increase the stores size so as to provide custo-
mers with a luxurious shopping experience.
Burberry has opened a store in Kaptol shopping centre
British luxury brand Burberry opened its frst mono-brand store in
Serbia in the capital of Belgrade at the end of November 2011. Al-
ready present in Belgrade for almost one year with a shop in shop
within a luxury multi-brand store, Burberry opened a mono-brand
franchised store in a highstreet location of over 300 square metres
downtown Belgrade in March 2010.
Emporio Armani, Belgrade
Fly London Terazije, Belgrade
Fly London Terazije, Belgrade
Mimimiaso umievo sokae, Belgrade
259
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260
261
262
Luxury European holiday resorts
.
St. Moritz (elevation 1,800 metres) is one of the most renowned
alpine spa and winter sports locations, and despite its year-round
population of only around 5,000 has the atmosphere of a cosmo-
politan alpine city. The classic jet-set haunts here include luxury
hotels such as Bards Palace Hotel, Kulm Hotel, Suvretta House,
Carlton Hotel and Kempinski.
Nijole new in St. Moritz
In December 2011, Nijole opened the new boutique in St. Moritz si-
tuated in Via Serlas among the most luxurious shops. An 80 square
metre space was built in the chalet-style with prevalence of warm
and cosy colours.
Via Serlas a must for jet-setters
Batrutts Palace Hotel is a magnet for all those who want to see and
be seen. At his behest, the erstwhile Bernies CEO was to operate
the former fower shop Les Fleurs Kernen under the name Brunello
Cucinelli Boutique. However, this plan was derailed by the bank-
ruptcy of the Italian owner Mariella Burani. This led to an intensive
search for a suitable replacement tenant for the 90 square metre
shoebox space, which is sandwiched between Jil Sander and the
lone Roberto Cavalli boutique; the space was ultimately leased to
St. Moritz
Badrutts Palace Hotel via Serlas, St. Moritz
263
the British high-end shoe retailer Jimmy Choo, whose store open-
ed in the fall of 2011.
Kitty-corner across the street - Trudie Gtz converted one of her
Trois Pommes boutiques into a Tom Ford store.
In the Murezzan complex, the down-jacket retailer Moncler opera-
ted the frst Industries Group store, whose lease it ceded in April
2011 to the Italian cashmere business unit of Brunello Cucinelli.
The eponymous founder who operates his Perugia based com-
pany in a supremely sustainable and environmentally friendly fa-
shion opened his second boutique in Geneva.
Bernies having thrown in the towel, Moncler, which was founded in
Monestier de Clermont (near Grenoble) in 1952, took over Bernies
space (likewise located on Via Maistra) in exchange for a tidy key-
money sum.
Located in Bern cantons Oberland region at 1,050 metres above
sea level, GSTAAD has a population of 7,000 and is part of the mu-
nicipality of Saanen. The town centre has been off limits to motor
vehicles since 1998. The Promenade, which was built as part of the
town-centre bypass road construction project, features numerous
exclusive shops, restaurants and hotels. All of Gstaads buildings
display chalet architecture, which lends the town a special fair,
and many luminaries spend their vacations in Gstaad.
Shops in the Complex Badrutts, St. Moritz
Jimmy Choo via Serlas, St. Moritz
264
Breguet opened in Gstaad
After Geneva and Zurich, Breguet is now setting up in Gstaad. This
new Swiss boutique that opened in August 2011 is spread over
two foors and covers a total surface area of 170 square metres on
Bahnhofstrasse. The former tenant was Lorenz Bach.
Hublot took over Jeweller Weber
After opening around fourty boutiques in just four years, Hublot is
continuing its fantastic expansion into the worlds most prestigi-
ous locations by opening a boutique in Gstaad on Promenade. It
will open its doors with its Genevan partner and long-time friend
Benoit de Gorski in mid-December, in a prime location in the midd-
le of the main pedestrian route through the village.
This new boutique will provide Hublot with a dedica-
ted, elegant setting to welcome its clients, combining
state-of-the-art technologies in a mountain location.
Spanning over 30 square metres, the boutique fea-
tures a magnifcent traditional Bernese ceiling built
by local artisans, combined with a black granite stone
foor, leather, wood and glass.
Faberg with pop-up in the Palace
Faberg will be selling its famous glittering eggs from
its pop-up boutique within the Palace Hotel. A new
collection will be up for grabs diamond-encrusted
designs from Fabergs Les Fabuleuses Collections.
Look opens a store at Grand Hotel Park Gstaad
The French fashion retailer Look opened a new bou-
tique in December 2011 at Grand Hotel Park Gstaad.
First new luxury hotel in Gstaad for 100 years
Slated to open in December 2012, the Alpina Gstaad is the
frst fve-star hotel to be realised in Gstaad in 100 years.
Only a fve minute walk from the centre of town, the ho-
tel is located on a rise in Gstaads exclusive Oberbort
district and has a panoramic view of Saanenland and
the breathtaking Bern Alps.
The Alpina Gstaad offers 57 rooms and suites, 11 apart-
ments, a chalet with three apartments, and two additio-
nal chalets. The chalets and most of the apartments are
already sold. Built at a cost of around CHF 300 million,
the Alpina Gstaad, its 20,000 square metre grounds, and
the hotels myriad amenities will greatly enhance the
appeal of Gstaad and the surrounding area. The hotel
will be open approximately 240 days a year.
The hotels owners Marcel Bach and Jean-Claude Mim-
ran have created a haven that updates the alpine style
and that also features the classic architecture of the
alpine region, as do the materials used in the hotel. All
of this adds up to an elegantly understated modern fa-
cility.
Hublot Promenade, Gstaad
Palace Hotel, Gstaad
265
Moncler Forte dei Marmi
FORTE DEI MARMI is a sea town and commune in the province of
Lucca, in northern Tuscany. The population of the town, amoun-
ting to some 7,700, nearly triples during the summer, because of
the hundreds of tourists who mainly come from Florence, Milan,
Germany, and Russia. Tourism is the principal activity of Forte dei
Marmis citizens. In Italian Forte dei Marmi means Fort of the
marbles.
Moncler moved to a bigger store
Moncler opened a new store in Forte dei Marmi in July 2011. The
Tuscan store has a surface area of 110 square metres and is loca-
ted in Piazza Garibaldi. Two large display windows introduce the
Moncler world, emphasised by the French woodwork engraved
with foral patterns in relief. Inside, the atmosphere draws inspira-
tion from the lofty heights of the Alps and is enriched with marble
fooring and the smoke-tinted metal detailing of the displays.
Philipp Plein arrives in Fore dei Marmi
The store faces the central via Novembre in a well-known location
and receives the customers in an ultra-contemporary and luxuri-
ous dimension of 50 square metres. Luminous, relaxed, in perfect
balance with the exclusive harmony that Forte dei Marmi enjoys.
The Forte dei Marmi store presents originality and detail richness.
Prada opened new menswear store
At the beginning of July 2011, Prada opened a new menswear store
in Forte dei Marmi. The contemporary space displays a masculine
style in a relaxed and elegant environment. Designed by architect
Roberto Baciocchi, the store covers an area of almost 1,000 square
metres and occupies the entire ground foor of a building facing
onto the Piazza Garibaldi and via Montautis angle, whose facade
has been completely restored.
Escada throws an elegant gala opening
A gala cocktail reception was held in April 2011 to celebrate the
opening of Escadas new fagship store in Forte Dei Marmi, which
is located right on elegant Piazzetta dei Marmi and is one of the
largest fagship stores where Escada has rolled out its new store
concept. Among those in attendance at the event were Escada
CEO Bruno Slzer and Escada Italia CEO Alberto Cristofoli. More
than 300 luminaries from the world of nobility and fashion were
also in attendance.
Sistes expands to Forte dei Marmi
In April 2011 Sistes opened its fourth mono-brand store in the he-
art of Forte dei Marmi. With its stylish location on Via Montauti,
Sistes opened in one of the most renowned shopping streets in
Forte dei Marmi. After Milano, Bologna and Bolzano, the Versilian
store will display, on its 80 square metres, the clothing, the ac-
cessories and the mood that inspire the entire production of the
brand.
The new store in Forte dei Marmi faithfully recounts the values of
Sistes, a brand dedicated to a dynamic and modern woman who
dresses her personality with a perfect mix of refnement and ver-
satility and with an all Made in Italy quality.
Escada Piazzetta dei Marmi
Prada Forte dei Marmi
266
CAPRI is an island in the Tyrrhenian Sea off the Sorrentine Pen-
insula, on the south side of the Gulf of Naples. The main town on
the island shares the name. It has been a resort since the time of
the Roman Republic. Features of the island are the Marina Piccola
(the little harbour) and the Belvedere of Tragara (a high panoramic
promenade lined with villas).
Eres debuts on via Camerelle
The inventive and outr swimwear and lingerie retailer Eres is con-
tinuing with its expansion programme, the latest milestone has
been the opening of the companys frst boutique on Capri on 2
May 2011 in a 30 square metre space on exclusive via Camerelle.
Unlike Eress other stores, this boutique will only carry swimwear.
Miu Miu continues expansion
April 2011 saw the opening of a new mono-brand boutique in Ca-
pri. The boutique, designed by architect Roberto Baciocchi, has
an entrance and three display windows on via Vittorio Emanue-
le on the corner overlooking the piazza of Hotel Quisisana, in the
islands primary shopping destination. The space spans a total
surface area of 50 square metres, and houses the collections of
ready-to-wear, footwear and accessories for women in a bright
and welcoming atmosphere.
Santoni debut in Capri
A few weeks after opening of new store in Beijing, Santoni came
back to Italy and opened their boutique in Capri in April 2011. The
store is located in via delle Botteghe with furnishings of the San-
toni stores, characterised by the solidity and refnement of mate-
rials and fnishes opposed to the modernity of the seating, each
featuring an iPad by means of which one may explore the Santoni
world.
Casedei new in via Cemerelle
Casedei just opened a new boutique in via Camerelle in April 2010.
Among other shops, the lovely boutique maintains the typical ele-
gance of the brand although blending in with the singularity of the
Neapolitan island. For the frst time apart from an urban centre,
the store perfectly matches with the sun-kissed atmosphere of
Capri.
CORTINA AMPEZZO is a town and commune in the southern (Dolo-
mitic) Alps located in Veneto, a region in Northern Italy. Located in
the heart of the Dolomites in an alpine valley, it is a popular winter
sport resort known for its ski-ranges, scenery, accommodations,
shops and aprs-ski scene. It is also known for its jet set and Eu-
ropean aristocracy crowd.
The town has been the location of endless flms, including For Your
Eyes Only, the James bond flm starring Roger Moore that was shot
thirty years ago. It is one of the chicest places in the whole of the
Italian peninsula. Some of Italys most famous families are visitors
people such as the Barillas and the Marzottos. Shopping is one
of the most popular sports: in winter, you can combine it with the
piste and other activities, in summer with a stroll in the Dolomites
or a day of total relaxation.
One of the most famous boutiques is undoubtedly Le Noir. This is a
Eres Capri
267
space dedicated to fashion collections and brings together some
of the best known brands with creations by young creative talents.
The windows are also elegant they refect the mix and match
ethos you fnd inside the shop. Dior handbags or a red Azzedine
Alaia dress that goes perfectly with a pair of Christian Louboutin
sandals.
Another boutique you must visit is Franz Kraler. There is a Fendi
Peekaboo bag in crocodile blue, perfect if you cant bear to be wi-
thout your bag even on holiday. The windows of the Brunello Cuci-
nelli boutique have breathtaking views of the mountain tops, and
whether its winter or not, they show off chic creations elegantly
reinterpreting mountain-wear classics.
COURMEYEUR is located 10 kilometres southeast of Mont Blanc
and gave Mont Blanc de Courmayeur its name. Aosta Valley arises
just beyond Mont Blanc de Courmayeur, below the massive face of
Mont Blanc, at whose foot the frst two side valleys of Aosta Valley
arise.
Marina Grande, Capri
Pedestrian Area, Cortina dAmpezzo
268
Owing to its location, Courmeyeur is referred to as the secret ca-
pital city of Alpinists, and counts as one of the oldest and most
renowned Alpine tourist destinations. The entrance to the Mont
Blanc tunnel lies just beyond Courmayeur.
Strolling along Via Roma in the town centre, it strikes you immedi-
ately how this place is a fascinating mix of tradition and modernity.
You go from the sophistication and exclusivity of Guichardaz, the
historic store where Claudio Magenta provides his clientele with
ever more distinctive and uniquely elegant clothes, to the recently
restyled Courmayeur 105, where you can fnd a selection of the
most important Italian and international luxury brands, including
Balenciaga, Fendi, Lanvin, Balmain, Prada, Yves Saint Laurent,
Marc Jacobs, Bottega Veneta, and many more besides.
Italia Independet by Lapo Elkann
In December 2011, Italia Independent, the Italian fashion label
owned by Lapo Elkann, opened in Courmayeur, the labels third
mono-brand store in Italy. Inside the boutique, the mountain tradi-
tion fuses with an innovative look created partly by design pieces
inspired by the world of the Fiat 500. Its all strictly made in Italy.
CHAMONIX-MONT-BLANC or, more commonly, Chamonix is a com-
mune in the Haute-Savoie dpartement in the Rhne-Alpes region
in south-eastern France. The communes population of around 9
800 ranks 865th within the country of France. Situated near the
massive peaks of the Aiguilles Rouges, Chamonix shares the sum-
Courmayeur by Night
mit of Mont Blanc with its neighbouring commune of Courmay-
eur in Italy, and owns the title of highest commune in France. The
commune is well-known and loved by skiers and by mountain en-
thusiasts of all types. Chamonix is the fourth largest commune in
mainland France.
A lot of international brands can be found in the French alp resort:
Quicksilver, ONeil, Esprit, North Face, Columbia, Lacoste, Chanel,
Peak Performance and Patagonia.
Quiksilver at the foot of Mont Blanc
The streetwear retailer Quicksilver has opened a new board-riders
club. The fagship store, which is designed in log-cabin style, has
around 400 square metres of retail space and carries labels such
as Roxy, DC and Moskova & Co.
Superdry pop-up store in Chamonix
Superdry, the British streetwear label that belongs to SuperGroup,
opened a pop-up store in the French mountain resort of Chamonix
in December 2011.
Colmar opened second store in the Alps
After the recent grand opening of the Madonna di Campiglio shop
in July 2011, Colmar opened another boutique in the heart of the
Alps at Rue Vallot in Chamonix. The store in Colmar measures 60
square metres and has a display window of eight square metres.
269
Salomon opened fourth boutique in the world
The fourth Salomon boutique in the world has opened its doors in
Chamonix .Salomon have previously opened boutiques in Moscow,
Vancouver, and Toulouse and now the Chamonix store is here. Ful-
ly equipped with an impressive range of outdoor equipment from
ski to trail-running and from cross-country to snowboard this shop
has it all. Furthermore, if you cant fnd what you are looking for in
the shop the special web in store allows you to order in anything
from their online catalogue.
Hublot aims at reinforcing its legitimacy on the sport-
casual segment
A couple of days after its boutique opening in Gstaad, Hublot ope-
ned a new point of sales in Courchevel. With this new opening,
Hublot aims at reinforcing its legitimacy on the sport-casual seg-
ment and at increasing its visibility in a place known for the quality
of its clientele. The Boutique is located in Rue du Rocher.
Jean Claude Jitrois on the slopes of Courchevel
After opening its two fagships in Moscow and New York, Jean Clau-
de Jitrois continues to attract international customers by opening
a new store on the slopes of Courchevel. The French designer has
chosen the shopping arcade Space Needle in the winter sports
resort for its alpine house of mens and womens fashion. The new
store was designed by the architect Christophe Pillet, who has of-
fciated in many of the brand shops.
OC Concept Store opens for the winter season
In the centre of Courchevel the OC Concept Store opens its doors
for the winter season with the aim of accommodating exacting
customers in search of an exquisite shopping experience. The
store, which was founded by entrepreneur and jewellery designer
Arianne Collins, carries a superb selection of haute horologer wat-
ches, exclusive jewellery, luxury accessories, and collectors items
in limited editions. This season, OC Concept Store at Courchevel
1850 will be presenting a host of prestigious and innovative brands
such as Ladoire, Yniq, and Caran dAche, as well as opulent Arianne
Collins jewellery. The three OC Concept Store branches in St Tro-
pez, at Courchevel 1850, and on Madison Avenue at 60th Street in
New York carry the most renowned and inventive luxury brands
so as to make the store a place where customers go in search of
the exact item theyve always dreamed of.
Chanel settled in the heart of the village of Courchevel
Last winter, Chanel settled in the heart of the village of Courchevel.
The boutique mixes neutral hues and fashes of colour. The sheen
of navy-blue panels on the walls calls to mind the aesthetic of Karl
Lagerfelds 2011/12 Cruise collection, showcased here alongside
the 2012 Spring-Summer collection. Courchevel, a skiing paradise
in the French Alps, will be getting a glistening addition to its white
slopes in the winter. Chanel has decided to open a temporary bou-
tique amidst the chic resort. Seeking to project the ever-present
luxury that has made Chanel an everlasting fashion powerhouse,
Gucci Fiat 500 by Lapo Elkann
Chamonix-Mont-Blanc
Hublot Courchevel
270
minimalist dcor and warm sycamore fooring create an inviting
refuge for shoppers braving the cold.
MEGEVE (population 3,900), which is located in Frances Haute-
Savoie dpartement, is a well-known winter sports resort in the
Savoy Alps. Tourists have been coming there since 1913, but things
really got going in 1921 when Baron Maurice de Rothschild opened
the towns frst luxury hotel when St. Moritz denied him a building
permit for a hotel there. Megve was one of Europes most popu-
lar ski resorts in the 1950s and attracted many luminaries to its
slopes.
The frst Colmar Shop was opened in Megve in 1999 a 30 square
metre boutique overlooking Rue Ambroise Martin. After becoming
an increasingly popular shopping destination, the store underwent
refurbishment several times over the years, and in September
2010, a second shop measuring 60 square metres was opened on
Rue Arcades du Mont Blanc.
Jitrois Courchevel
Chanel Courchevel
Allard & Herms Megve
271
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273
274
Middle East
.
The geographical entity known as the Middle East now refers to
the Arab states in the region, as well as Israel, Iran, and part of
Turkey. The Middle East, with its roughly 490 million inhabitants,
encompasses, in particular, the Fertile Crescent and the Arab pen-
insula.
Burj Al Arab, Dubai
Middle East
275
57
Istanbul - Nistansi district: Particularly
popular with Turkish jet-setters
.
ISTANBUL is Turkeys most populous city and the countrys cul-
tural, trade, fnancial and media centre. The city extends to the
northern shore of the Marmara Sea on both sides of the Bosporus
strait between the Mediterranean Sea and the Black Sea. Istanbul
is the only city in the world that straddles two continents, by virtue
of the Thrakian region in Europe and the Anatolia region in Asia.
With around 13,1 million inhabitants, Istanbul is the worlds fourth
most populous city. Its status as a transit location between two
continents and two oceans makes it one of the most important lo-
cations for international logistics. Istanbul, which can look back on
a 2,600-year history since the original part of the city was built has
been the capital city of three major world empires.
Istanbuls Nistansi district: Particularly popular with
Turkish jet-setters
Istanbuls Nistansi district is known for its Art Nouveau buildings
and is particularly popular with Turkish jet-setters and with people
involved in the citys cultural and art scene. Affuent shoppers stop
for a cup of coffee at Armani Cafe, followed by a shopping trip to
the nearby luxury boutiques. The side streets offer a wealth of re-
staurants. Bagdat Avenue is the main shopping street in the Ana-
tolian part of Istanbul.
Abdi peki Street or Abdi peki Avenue is the premier shopping
street of stanbul, located in the ili district. It runs along the
Maka and Tevikiye neighbourhoods, extending from Bayldm
Caddesi/Maka Caddesi to Vali Kona Caddesi in the Nianta
neighbourhood on its length of about 700 meters.
The street where the Burberry and Louis Vuitton fagship stores are
located runs parallel to the Maramar Sea coastline, and in terms of
luxury is the counterpart to Istiklal Avenue on the European side
of Istanbul.
Skyline Istanbul
Istanbul Bosphorus
Citys Mall Nianta, Istanbul
276
Istanbul with frst Victorias Secret store
US-based lingerie giant Victorias Secret has opened its frst Eu-
ropean branch in Istanbul. The store, housed in Citys, a shopping
mall in Istanbuls high-end Nianta neighbourhood, opened its
doors to smiling female patrons at the end of November 2011. A
second store followed at the stinye Park shopping centre later in
December.
Victorias Secret owner The Limited Group has partnered with
Turkeys Park Bravo Group and the Shaya Group to bring the fran-
chise to Turkey. Initially, the stores will only sell perfume and ac-
cessories.
Herms and Prada each open a second store in Istanbul
Prada opened its second Istanbul store in December 2010 at Isti-
nye Park Mall in a 500 square metre space where ready-to-wear
womens and mens fashions, as well as handbags, accessories,
and shoes are available. The opening of the second Herms store
in Istanbul was in early December.
Louis Vuitton fagship Badat Avenue Nianta, Istanbul
Burberry fagship Badat Avenue Nianta, Istanbul
277
Salvatore Ferragamo debuts in Turkey
Salvatore Ferragamo inaugurated on December 2010 its frst mo-
no-brand store in Istanbul. The new store which covers a surface of
200 square metres and is situated in the upscale neighbourhood of
Nisantasi, includes the full range of mens and womens products.
Ferragamo also inaugurated a 70 square metre shop in the capi-
tal of Ankara within the Harvey Nichols department store, marking
thus its debut in the Turkish capital.
Bally expands into Turkey
The Swiss shoe and leather goods retailer Bally is continuing to
pursue its expansion plans and has now entered the Turkish mar-
ket by opening a store in the Nistansi district that carries all Bally
collections, including bags, shoes, leather goods and clothing.
Istinye Park Mall, Istanbul
Istinye Park Mall, Istanbul
278
Rolex opens in Abdi Ipeki Caddesi Altin Sokak
Located in Abdi Ipeki Caddesi Altin Sokak, in the prestigious and
vibrant Nisantasi neighbourhood on the west bank, this showroom
entirely devoted to Rolex watches offers a sumptuous setting to
discover the immense variety of the Oyster and Cellini collections.
Opened in September 2010, this new Rolex Showroom is part of the
network of Offcial Rolex Jewellers, who, as sole authorised points
of sale and service of Rolex watches, are the guardians of their au-
thenticity. A welcome area, display and sales areas are carefully
laid out on two foors with a total area of 125 square metres.
Galeries Lafayette to opening in Istanbul
French premium department store chain Galeries Lafayette has
been stepping up its international expansion after Berlin and Du-
bai, with a new store in Istanbul, operated in franchising by local
retailer Demsa Group, which already operates the two Harvey Ni-
chols department stores in Istanbul and Ankara. Further openings
are planned in Casablanca, Beijing (2013), Jakarta (2013) and Doha
(2014).
Victorias Secret Nianta fagship store, Istanbul
Abdi peki Avenue, Istanbul
279
H&M opening Forum, Istanbul Rolex Istanbul
Forum Shoppingcenter, Istanbul
280
H&M opened in Forum Istanbul
At the beginning of November 2011, H&M opened in the most cen-
tral point of Forum Istanbul, one of the biggest malls in Istanbul.
The store has a retail space of 2,300 square metres and carries
everything from highest fashion to basics for women, men, teens
and kids.
Following the frst store opening in Forum Istanbul, H&M will con-
tinue its expansion in Turkey. H&M will open stores both in Sapphi-
re Shopping Center and Forum Marmara Shopping Center.
Trump Towers Istanbul
Trump Towers Istanbul will bring a new shopping experience to
the 5th largest city in the world. Trump Towers shopping mall in
Istanbul, the frst venture to bear the Trump name in Europe, ope-
ned in February 2012. 175 stores offering a unique blend of fa-
shion, entertainment, as well as restaurants cover a total area of
43,600 square metres at the shopping center, which is located in
Istanbuls ili district.
Trump Towers Istanbul
281
Ramat Avvi Mall, Tel Aviv
58
Tel Aviv, American Eagle Outftters and
Forever 21 new arrivals at Azrieli Mall
.
TEL-AVIV, has 392,500 inhabitants, making it Israels second largest
city. The Tel Aviv conurbation encompasses a number of immedia-
tely adjacent cities, which are up to 14 kilometres from the Me-
diterranean coast in the populated zone; and thus the greater Tel
Aviv area has a population of around 3,2 million, making it Israels
largest conurbation.
Virtually all international retailers are to be found in Tel Avivs shop-
ping malls. Store rents upwards of 2,400 euro per square metre at
Ramat Aviv Mall on Einstein Street are the priciest in Tel Aviv. The
mall has 17,800 square metres of leasable space and 140 stores,
including Bershka, Diesel, Gant, Zara, Topshop, FCUK, Replay,
Montblanc, and a new Louis Vuitton.
Tel Aviv aerial view
282
Rents on the roughly 420 Dizengoff Centre stores at the corner of
Dizengoff Street and King George Street are around 1,500 euro per
square metre, and run around 1,243 euro per square metre at the
150,000 square metre Azrieli Shopping Centre.
Louis Vuitton opens at Ramat Aviv Mall
The luxury retailer and LVMH Group member Louis Vuitton made
its worldwide presence felt even further by opening a 400 square
metre store at Ramat Aviv Mall, which is located at 40 Einstein
Street in Tel Aviv.
Burberry debuts in Israel
The British luxury retailer Burberry opened its frst store in Israel,
a fagship store, in Tel Aviv, in an around 370 square metre three-
level space on State Square. The store carries the Burberry London
and Burberry Brit collections, as well as Burberry childrenswear
and accessories.
Ramat Avvi Mall, Tel Aviv
H&M Opening Azrieli Mall, Tel Aviv
283
G Zamerer Mall, Tel Aviv
American Eagle Outftters and Forever 21 new arrivals at
Azrieli mall
The US clothing chain American Eagle Outftters will be opening
four new stores in 2012 at Azrieli malls, with Fox Group as the fran-
chisee. The stores will range in size from 600 to 700 square metres,
and with rents between 55 dollar and 85 dollar per square met-
re. The Fox Group will be investing up to 1.4 million dollar in each
store.
In December 2011, the US young-fashion chain Forever 21 opened
a fagship store at Tel Avivs Azrieli mall in a split-level around 1
500 square metre space next door to H&M that was formerly home
to ToysRUs and Yotvata Restaurant. Roughly 5 million dollar was
invested in this, the labels frst Israeli fagship store.
Alessi and Coccinelle debut at G Zameret Boutique Mall
The Italian design factory Alessi opened a new 250 square metre
store at G Zameret Boutique Mall on Nissim Aloni Street.
The Italian bag retailer Coccinelle also opened a store (40 square
metres) at the new G Zameret Boutique Mall. This is the companys
frst Israeli mono-brand outlet.
Gerry Weber debuts at Gan Hayir mall
The German retailer Gerry Weber made its Israeli debut at the Gan
Hayir mall, where the store franchisee will be the Efrati family, who
are also the proprietors of a womens fashion boutique called Iren.
The Tel Aviv fagship store, in which around 142 000 dollar were in-
vested, covers around 110 square metres. Other store openings are
planned.
Kosher McDonalds, Ramat Aviv mall, Tel Aviv
Dizengoff Centers, Tel Aviv
Azrieli Mall, Tel Aviv
284
BEIRUT, the capital of Lebanon, is located on the Levant coast in
the Eastern Mediterranean, in the centre of Lebanon from a north-
south standpoint. Beirut is Lebanons economic and cultural cen-
tre, and prior to the 19751991 Lebanese civil war was referred
to as the Paris of the Middle East. The citys exact population is
unknown, as the last census dates back to 1932. The estimated
population in 1991 was 1,5 million, and the estimate for 2010 for
Beirut and environs is 2 million.
Bottega Veneta debuts in Lebanon
In 2010, the Italian luxury retailer Bottega Veneta opened its frst
Lebanese store in a 135 square metre space on ritzy Allenby Street
in the Beirut Souk, in a split-level 270 square metre space. With
neighbours such as Herms and Louis Vuitton, Bottega is in excel-
lent company.
Bottega Veneta President and CEO Yves Carcelle describes Beirut
as a fascinating city that attracts visitors not only from the sur-
rounding countries, but also from all over the world.
Agent Provocateur and Emilio Pucci on Allenby Street
The British luxury lingerie retailer Agent Provocateur opened an
around 36 square metre boutique on ritzy Allenby Street, where
the Florentine fashion house Emilio Pucci also opened an around
80 square metre store, the companys frst in Beirut, in partnership
with the Aishti Group.
Longines debuts at ABC Mall in Achrafeh
In the summer of 2011, the Swiss watch company Longines cele-
brated the opening of its frst boutique at ABC Mall in the ritzy
Allenby Street shopping district. The new store, which Longines
opened in partnership with H. Atamian Est.,
is a further step in the companys successful
expansion into the Middle East.
The ABC Mall in Beiruts Achrafeh district is
Lebanons frst mall to be built in European
style. The 140,920 square metre mall open-
ed in 2003, and store rents are in the neigh-
bourhood of 1,380 euro per square metre.
The ABC Group invested around 120 dollar in
the mall, which hosts brands such as Cha-
nel, Starbucks, and Montblanc.
Beirut Skyline
Allenby Street, Beirut
Herms Bab Idriss, Beirut
59
Beirut, Rue Verdun one of Beiruts most
renowned shopping streets
.
285
Versace and Lanvin debut on Beiruts Park Avenue
The Milan luxury retailer Versace opened its frst boutique in Leba-
non, a roughly 200 square metre split-level fagship store in Park
Avenues Berytus Building that carries the entire Versace collec-
tion. In the spring of 2011, the French retailer Lanvin opened its
frst boutique in the Middle East at Palladium 2, which is likewise
located on Beiruts Park Avenue, Mina El Hosn.
Alessi moves into Centre Sofl in Achrafeh
The design factory Alessi opened its frst Beirut store at Centre So-
fl in an around 106 square metre space.
The Italian fashion retailer Marni opened a 105 square metre bou-
tique on El Moutran Street in partnership with the Aishti Group.
Rue Verdun one of Beiruts most renowned shopping
streets
Along with Allenby Street and Park Avenue, Rue Verdun is one of
Beiruts most renowned shopping streets, where store rents aver-
age around 1,000 euro per square metre and where luxury retailers
such as Armani, Christian Dior, Massimo Dutti, Springfeld, Mango,
Zara and Oysho have outlets.
Minotti likewise debuts in Lebanon
The family-owned Italian company and Mq Group member Minotti
opened a new around 700 square metre split-level fagship store in
the Achrafeh districts Ivory Building.
Agent Provocateur Allenby Street, Beirut
ABC-Mall Achrafeh, Beirut
Lanvin shop window Lanvin, Beirut
286
DUBAI is the capital city of the Dubai Emirate of the United Arab
Emirates (UAE), which is located in the Persian Gulf. As Dubai has
1,8 million inhabitants, i.e. 85 % of the UAEs population, virtually
the entirety of the countrys economic, social, cultural and political
life unfolds here.
Mall of the Emirates
Dubais Mall of the Emirates opened in 2005 in a prime location
in the heart of New Dubai, where the mall features more than 520
international retailers, including Bottega Veneta, Burberry, Bulgari,
Cartier, Christian Louboutin, D&G, Ermenegildo Zegna, and Salva-
tore Ferragamo.
The Mall of the Emirates, a worthy sight in its own right, features
two 5-star hotels, the renowned Ski Dubai indoor skiing facility,
and a massive entertainment centre. The mall had an amazing (and
record) 31,3 million visitors in 2010.
60
Dubai - Rolls Royces Spirit of Ecstasy
celebrates its centenary
.
Louis Vuitton doubles its space at Mall of the Emirates
In the interest of strengthening its Middle East presence, in 2011
Louis Vuitton doubled the size of its Mall of the Emirates store. In
1983, Louis Vuitton established itself in the Middle East with the
opening of its frst store in Kuwait City. The UAE itself has been
sharing many common bonds with Louis Vuitton, with its history
steeped in Arabic culture and tradition, and a synergy combining
heritage and our own expertise in the craftsmanship of leather
goods. This year, Louis Vuitton extends its international store in
the Middle East at the Mall of the Emirates, a reopening which ce-
lebrates LV and Dubais links to the Arabic contemporary art and
culture.
Dubai City
287
Jimmy Choo opens new outlet at Mall of
the Emirates
In May 2011, the Jimmy Choo store at via Rodeo
Mall of the Emirates opened its doors offcially
on the frst foor. Extending over 170 square me-
tres, this is the brands fourth location in Dubai,
joining a freestanding store at Dubai Mall as well
as shop-in-shops at Bloomingdales Dubai Mall
and Harvey Nichols Mall of the Emirates. Origi-
nally, the brand entered the region in 2006 with its
frst UAE store. The Dubai stores, as well as those
in Saudi Arabia and Bahrain, are operated by Al
Tayer Insignia through an exclusive distribution
agreement.
Mall of the Emirates, Dubai
Mall of the Emirates, Dubai
288
The Spirit of Ecstasy lady celebrating its 100th anni-
versary
The Spirit of Ecstasy lady, found on the bonnet of every Rolls-Ro-
yce, is celebrating its 100th anniversary. To mark her centenary
anniversary, Rolls-Royce Motors Cars has created a special set of
just 100 vehicles the Spirit of Ecstasy Centenary Collection. In
addition, every vehicle produced during 2011 will feature a unique
Spirit of Ecstasy with an engraved commemorative inscription.
This coincided with the opening of the redone Rolls-Royce show-
room in Dubai.
To celebrate the opening of the newly-redone Rolls-Royce show-
room in Dubai and mark the centenary anniversary of Spirit of Ecs-
tasy, AGMC and Rolls-Royce Motors Cars had an exclusive evening
of art and luxury.
Dubai Mall, largest shopping
centre in the world hosts many
new retailers
Fresh from its frst store opening at
Mall of the Emirates in September
2010, in July 2011 Christian Loubou-
tin opened a second boutique, twi-
ce the size of the frst, at Fashion
Avenues Dubai Mall, which is next
door to the Steve McQueen store.
Christian Louboutin opened
second boutique in Dubai
Famous French designer Christian
Louboutin opened a new boutique
in Fashion Avenue at the Dubai Mall
at the end of July 2011. This is the
second Christian Louboutin store
in Dubai the frst being the Mall
of Emirates store at the Fashion
Dome, which opened in September
2010.
The new store at the Dubai Mall is
located next to the Steve McQueen
boutique and appears to be almost
twice the size of the Mall of Emira-
tes location.
Louis Vuitton Mall of the Emirates, Dubai
Rolls Royce Phantom in front of the Burj Al Arab
Gucci Dubai Mall
289
Baume & Mercier launches new boutique in Dubai Mall
Baume & Mercier offcially launched its new boutique in Dubai
Mall in October 2011. The brands sole boutique across the globe
underwent extensive redesign to align with the unique new Seasi-
de Living in the Hamptons universe, and showcases the new 2011
collections.
Quintessential British mens outftters Hackett London
Quintessential British mens outftters Hackett London opened a
brand new store in Dubai. The store is in the Dubai Mall, on the
frst foor in Fashion Avenue at the bottom of the Burj Khalifa, the
tallest building in the world and the centrepiece of the Downtown
Dubai district. The total retail selling space will be 160 square me-
tres spread across one foor over four separate selling rooms.
The unit is the frst Hackett London store in Dubai. The opening
of this shop is in line with Hacketts approach of opening fagship
stores in key cities throughout the world.
Dubai Mall
Fashion Avenue Dubai Mall
290
Fashion Avenue Dubai Mall
291
Marks & Spencers takes over from Ikea
In mid-2011, the British retailer Marks & Spencer (a franchise and
member of the Al Futtaim Group) took over the 2,790 square metre
former Ikea store, which is in a choice location on the malls ground
foor.
Christian Louboutin Fashion Avenue Dubai Mall
Baume et Mercier Dubai Mall
Hackett London Dubai Mall
292
61
Abu Dhabi
Mushrif Mall opened with 200 stores
.
ABU DHABI is the capital city of the eponymous emirate in the
UAE. The centre of Abu Dhabi, which has around 860,000 inhabi-
tants, is located on a 70 square kilometre island in the mangrove
belt. On the northwest side of the island facing the open sea is
the Corniche, where additional land was created in 2003. In May
2008, Abu Dhabis Urban Planning Council issued the urban deve-
lopment plan for the run-up to 2030, after which time an incre-
ase in the population of the envisaged Greater Abu Dhabi City to
3 million is planned. Like the neighbouring Emirate of Dubai, the
capital city of the UAE is a shoppers paradise in a class of its own
and offers numerous upscale shopping malls that sell just about
anything a shoppers heart could desire. Malls here spring up like
mushrooms, and each one contains hundreds of stores, including
numerous prestigious retailers that offer bargain prices.
One of the largest of these new venues is Marina Mall, which has
400 stores spread across 100,000 square metres of space and
more than a million visitors a year. The mall also features a specta-
cular view of the Corniche.
Burberry debuts at Marina Mall
Burberry opened its frst Abu Dhabi Childrenswear boutique at
Marina Mall, thus bringing to six the retailers feet of UAE stores,
which are located at the following malls: Marina Mall in Abu Dha-
bi (previously only Burberry womens wear); Mall of the Emirates,
Waf Mall, Deira City Centre, and Burjuman in Dubai; and a fagship
store in Dubai Mall. All of these stores are represented by Burber-
ry Middle East, which is a joint venture with Burberrys franchise
partner of long standing, the Jashanmal Group.
Abu Dhabi by night
Abu Dhabi Skyline
Marina Mall, Dubai
293
Marks & Spencer expanding
Marks & Spencer Al-Futtaim, which is part of the Al-Futtaim Group
franchise, opened a store at Marina Mall in an around 30,000
square metre ground foor space. Al Futtaim has an additional 16
outlets in the following malls: Dubai Festival City, Mall of the Emi-
rates Dubai, Deira City Centre Dubai, Dubai Mall, Waf City Mall in
Dubai, Sahara Centre in Sharjah, Fotouh Al Khair Mall in Abu Dhabi,
Bawadi Mall in Al Ain, Seef Mall in Bahrain, Landmark Mall in Doha,
Villaggio Mall in Doha, Marina Plaza in Kuwait, 360 Degrees Mall in
Kuwait, and Dandy Mall in Egypt.
Mushrif Mall opened with 200 stores
Mushrif Mall, having delayed the shopping centres launch a num-
ber of times, fnally opened in summer 2011. The 56,000 square
metre mall includes a small indoor water park called Oceanic, and
Abu Dhabis largest food court with 20 food outlets and nine spe-
cialist restaurants, including a fresh fsh market eatery. The shop-
ping mall has more than 200 stores, is targeting the mid-range to
premium-shopper segment and aims to have 10 million visitors at
the mall in the frst year. The shopping centre is being built at a
cost of at least 1,2 billion Dirham (326,7 million dollar).
Flamenco, Giordano and RBK debut at Mushrif Mall
The Spanish womens apparel retailer Flamenco opened its second
fagship store on the second level of Mushrif Mall on 2nd Street in
Hadbat Al Zafranah, and is looking to open additional outlets since
Abu Dhabi has the highest per capita purchasing power on the Ara-
bian peninsula. Flamenco already has eight European stores, plus
an online store and eight shop-in-shops at El Corte Ingls depart-
ment store.
Hong Kong-based Giordano, which is one of Asias largest vertical
clothing conglomerates, likewise opted for Mushrif Mall, where
the company opened its 200th store worldwide. Giordano has been
operating stores in the Middle East for 18 years now, and plans to
open 50 new outlets by 2015.
Burberry Children Marina Mall Dubai
Mushrif Mall Abu Dhabi
Dalma Mall Abu Dhabi
294
R.B.K Middle East, the only Reebook representative in
the Middle East, opened a 165 square metre store on the
second level of Mushrif Mall. This is Reeboks second
fagship store in the region, the frst being at Abu Dhabi
Mall, where Sharaf DG opened a 30,000 square metre
store, the UAEs largest consumer electronics store. This
is an important milestone in Sharaf DGs expansion in
the Middle East, where the company operates 16 stores
spread across Dubai, Sharjah and Bahrein.
Originally conceived as a shopping centre for everyone,
Dalma Mall fourished and now contains over 500 out-
lets, restaurants, a food court, family entertainment,
cinemas and the biggest carrefour in Abu Dhabi on
150,000 square metres.
Crocs opens seven new outlets
The US shoe retailer Crocs opened two new stores in Abu
Dhabi in 2011 and now has a total of seven outlets in the
UAE. The frst of the new stores (97 square metres) is
located at Dalma Mall in the Musaffah district, while the
second (76 square metres) is located on Airport Road.
Damas and Landmark debut at Dalma Mall
In Dalma Mall, the fashion jewellery retailer Damas
found the ideal location for its 126th store. In addition,
the Mideasts leading retailer, the Kuwait-based Land-
mark Group, added the following lifestyle brands to the
companys Home Centre, Centrepoint and Fun City feet:
the fashion, accessories and housewares store Max
(2,800 square metres); the Emax consumer electronics
store (2,400 square metres); and the Fitness First ft-
ness centre (2,000 square metres).
Abu Dhabi Mall and Al Muhairy Centre
Another sizeable mall is the 220,000 square metre Abu
Dhabi Mall, which opened in 2001 and hosts 220 stores
that rent for around 500 euro per square metre. Pro-
minent retailers with stores at Abu Dhabi Mall include
Rolex, Mont Blanc, Mango, Nine West, and Zara. Another
exclusive mall is the 35,000 square metre Al Muhairy
Centre.
Also of interest
In March 2011, Rolls Royce opened its largest dealership
worldwide, whose 900 square metre showroom allows
for the display of fve vehicles in an ultra-classy ambi-
ence. In addition, the dealership, which is located in the
Um Al Nar district, also features a bar and a luxuriously
appointed lounge.
In April 2011, the Italian fashion retailer Prada conclu-
ded a joint venture agreement with Al Tayer for the mar-
keting of its luxury products in the Mideast. Al Tayer, one
of the regions most prominent luxury retailers, partners
with the likes of Gucci, Dolce & Gabbana, Armani, Bou-
cheron, Coach, and Emilio Pucci.
Abu Dhabi Mall
The biggest Rolls Royce showroom of the world in Abu Dhabi
295
Abu Dhabi Mall
296
Kingdom Centre, also called Al-Mamlaka Tower, is a skyscraper lo-
cated in the city of Riyadh, Saudi Arabia. It is currently the second
tallest skyscraper in Saudi Arabia with a height of 302,3 metres. Al-
Mamlaka Tower contains a total of 41 foors and 2 basement levels.
Al-Mamlaka Tower is owned by Prince Al-Waleed bin Talal, a prince
of the Saudi royal family. The total cost of the project was 400 mil-
lion dollar and the contract was taken by Saudi Arabian Al-Seif and
The Italian Impregilo. Besides the shopping mall, Al-Mamlaka To-
wer contains the Four Seasons Hotel Riyadh and state-of-the-art
apartments.
The 94,230 square metre Kingdom Centre is also home to Al-
Mamlaka mall, which is one of Riyadhs most prestigious shopping
venues, whose 161 stores spread across 38,543 square metres on
three levels include numerous luxury retailers such as Bottega Ve-
neta, Coach, Gucci, Louis Vuitton, Loewe, Debenhams, and Saks
Fifth Avenue. In November 2011, Nespresso opened its frst Saudi
store here.
62
Riyadh - Christian Louboutin opens
frst Saudi store in Riyadh
.
RIYADH is the capital city of Saudi Arabia and the eponymous
province. The city has 4,6 million inhabitants and the province
6 million.
Riyadh skyline with Kingdom Tower
Kingdom Center, Riyadh
297
Christian Louboutin opens frst Saudi store
In June 2011, Christian Louboutin opened a new, around 110 square
metre boutique on the second level of Riyadhs Kingdom Centre.
Victorias Secret opened two new stores in the Gulf
US lingerie brand Victorias Secret opened two new stores in the
Gulf by August 2011 as it looks to capitalise on the regions gro-
wing retail market. The glamorous line launched a new boutique in
the Kingdom Centre in Saudi Arabias capital Riyadh, followed by a
store in Bahrain City Centre.
Victorias Secret, part of US fashion chain Limited Brands, has se-
ven stores in retail hubs across the Gulf already, including three in
Dubai, two in Kuwait and one in Qatar. A spokesperson from fran-
chise partner, Kuwait-based Alshaya, which operates more than 55
international retail concepts and 750 stores in the region, said the
frm had further openings in the pipeline, but declined to specify
the locations.
Chanel debuts on Al Talhiya Street
In May 2011, in partnership with Ali Bin Ali Watches & Jewellery,
the French luxury retailer Chanel opened its frst Riyadh boutique
on Al Talhiya Street in front of Centria Mall.
Kingdom Center, Riyadh
Victorias Secret Boutique, Riyadh
298
Ermenegildo Zegna opened in Abdulkarim
Tower
Ermenegildo Zegna offcially inaugurated a new fag-
ship store in Riyadh. Located in the prestigious Abdul-
karim Tower, Olaya Street, it covers 163 square metres
of luxury retail. This is the most exclusive shopping
area in Riyadh.
Paris Hilton store opened in Riyadh
The opening of the newest Paris Hilton Handbags and
Accessories store was a cheerful and defnitely a pret-
ty in pink occasion at the end of November 2011.
Kingdom Center Mall, Riyadh
Gallery Mall Riyadh
Gallery Mall Riyadh
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302
Cape Town Skyline
Africa
.
Africa is the worlds second largest and second most populous
continent after Asia. At about 30,2 million square kilometres in-
cluding adjacent islands, it covers 6 % of the Earths total surface
area and 20,4 % of the total land area. With 1 billion people in 65
territories (including 54 recognized states), it accounts for about
14,72 % of the worlds human population.
303
Casablanca
63
Casablanca, Morocco Mall opened with
great success
.
CASABLANCA, Moroccos largest city, is located south of the capi-
tal city of Rabat on the Atlantic coast. The city has 3,3 million inha-
bitants. Four kilometres southwest of the harbour along Boulevard
de la Corniche is the suburb of Ain Diab, a luxurious beachfront
resort.
Almost the entire Casablanca waterfront is under development,
mainly the construction of huge entertainment centres between
the port and Hassan II Mosque, the Anfa Resort project near the
business, entertainment and living centre of Megarama, the shop-
ping and entertainment complex of Morocco Mall, as well as a
complete renovation of the coastal walkway. The Sindbad park is
planned to be totally renewed with rides, games and entertain-
ment services.
Morocco Mall opens with great success
The Morocco Mall just opened a few months ago, in early Decem-
ber 2011. There was about a 200 million euro investment that has
been dedicated for this mega-project. Works at the largest shop-
ping centre in North Africa began in 2007.
Over 70 luxury brands including American Eagle, Cartier, Louis Vuit-
ton, Dolce & Gabbana, Fendi, Gap, Givenchy, Gucci, Versace, Yves
Saint Laurent, and other international retailers opened its doors.
Morocco Mall in Casablanca from top
With already two stores in Morocco offering a wide range of items,
Fendi opened a new 324 square metre store in the Morocco Mall.
Fendi and Gucci are both operated in franchising by the largest lo-
cal fashion retailer, the Aksal Group which is also the co-owner and
developer of the Morocco Mall.
American Eagle Outftters opening in three new internati-
onal markets
American Eagle Outftters opened in Morocco, Jordan and Egypt in
2011. Moroccos store opened in Casablanca at Morocco Mall on
1st December.
La Martina, Starbucks, Gap and Elisabetta Franchi
The Argentinean retailer La Martina, which was originally known
as a polo team jersey supplier, opened its 56th store worldwide at
Morocco Mall, where, needless to say, Starbucks is also on hand
(two stores). Gap has concluded a new franchise agreement with
the Aksal Group calling for the opening of two new Gap stores at
Morocco Mall on the day of the malls offcial opening.
In December 2011, Elisabetta Franchi opened a 70 square metre
store at Morocco Mall. The Italian designers womens fashions are
aimed at self-confdent women and are made of extremely high-
quality fabrics.
Galeries Lafayette at Morocco Mall
In 2008, Galeries Lafayette and Group Aksal signed an agreement
for the implementation of Galeries Lafayette in the Morocco Mall.
The agreement was concluded in the form of an exclusive fran-
chise on the Moroccan territory. Galeries Lafayette had chosen to
set up a store of 13,000 square metres on three levels, creating
304
about 400 direct jobs, with an investment of 130 million DH (12
million euro).
Galeries Lafayette in Casablanca will be a copy of the fagship
store Haussmann in Paris, says one side of the group. The com-
pany is expected to attract 3 million visitors a year to discover the
500 brands that will be on sale. Market research and feasibility
studies relating to this return took nearly a year. Not to mention
that Galeries Lafayette have more than 3,500 brands and a cliente-
le composed of 70 % women with 4 % from North Africa. Morocco
is thus part of the top 10 customers of the trademark abroad.
Morocco Mall Casablanca
Louis Vuitton Morocco Mall, Casablanca
Morocco Mall Casablanca
305
64
Marrakech with American Eagle debut
The south-western Moroccan city of MARRAKECH (population:
920,000) is known as the pearl of the south and is the capital of
the eponymous province.
Marrakech is a Berber word that is thought to mean Gods coun-
try, although another explanation from the Tinfnagh Berber lan-
guage is that it may mean (in French) terre de parcours or land
of pathways. The country name, Morocco, is derived from the city
name, Marrakech.
Almazar Mall (Zone de lAguedal)
The Marrakech Shopping Mall Almazar is built over 100,000 square
metres with 30,000 square metres of retail space on 3 levels. This
project will host 100 brand stores, 20 restaurants, a food court of
20 stores and 4 restaurants, a crossroads of 6,000 square metres,
a recreation area for children and parking with a capacity of 1,200
spaces spread over 2 different foors with a total area of 36,000
square metres.
Inside the Almazar Marrakech Megamall, there are several main
areas: a central distribution area, a household equipment area,
services and leisure areas and an area for restaurants.
The second of its kind in Morocco after Rabat Megamall, the Alma-
zar project is supported by the important people working in felds
of commercial real estate in Morocco and abroad. The main pro-
perty developer is Best Real Estate (BRE) and HH Henry Hermand,
an emblematic fgure of shopping centers in France. It is served
by the creative genius of architects and designers reference (L35
Arquitectos, Minale Design Strategy).
The total investment for this project is approximately 500 million
dirhams (45 million euro) according to a chief executive of BRE. In
his opinion, this project symbolises a new stage in regional econo-
mic development.
Marrakesch Skyline
306
Louis Vuitton Corner Avenue Haroun Rachid and rue Du Temple, Marrakesch Almazar Mall Marrakesch
Atlas store opened on 7,000 square metres
The new Atlas store represents an HYIP investment of 45 million
dirhams (4 million euro) with over 7,000 square metres of selling
space for furniture and decorative items. The French group has
chosen to partner with the distribution and logistics group Hol-
marcom. The new store was inaugurated in May 2011. The next step
will be Casablanca. Its store will be bigger than that in Marrakech.
Newcomer of the year
American Eagle Outftters announced the opening of stores in th-
ree new international markets Morocco, Jordan and Egypt.
Almazar Mall Marrakesch
307
65
Algier with new Lacoste and Starbucks stores
.
Algerias capital city ALGIER is the countrys largest city and also
gave Algeria its name.
Algiers has a population of 2,2 million, while the province of Algiers
with its 58 cities and towns has 3,5 million inhabitants. Metropoli-
tan Algiers, which extends far beyond the borders of the province,
has 6,3 million inhabitants. Rue Didouche Mourad is one of Algiers
most important shopping streets.
Centre Commercial Bab Ezzouar
The Centre Commercial Bab Ezzouar is a Shopping Mall in Alge-
ria. It is currently owned SCCA (Socit des Centres Commerciaux
dAlgrie SpA) and has 60,000 square metre sales and leisure ac-
tivities foor space on three foors, including a 7,000 square metre
hypermarket.
Lacoste opened in the Centre Commercial Bab Ezzouar
Omega distribution, exclusive distributor of Lacoste in Tunisia and
Libya, opened its frst shop of the crocodile brand in Algiers at
the mall of Bab Ezzouar, in September 2010. The store has a new
space of 125 square metres.
On the 4th August, 2010, well-known luggage brand Samsoni-
te opened its doors in Algeria. Its new store is located inside the
shopping centre Bab Ezzouar in the national capital Algiers.
At the beginning of October 2010, a new Make-up Studio boutique
was opened in Bab Ezzouar. The boutique is the only make-up
store in the shopping centre and was furnished in typical Make-up
Studio style.
Le Tanneur opens new location
The Paris retailer Le Tanneur opened a new store at the new Bab
Ezzouar shopping mall in late September 2011. The Le Tanneur
franchise system comprises 60 to 100 square metre stores that
carry luxury leather goods.
Le Tanneur, which currently has around 60 stores spread across
France, Germany, Belgium, Luxembourg and Algeria, is planning up
to ten new franchise store openings annually.
Starbucks plans to come to Algeria in 2012
The worlds Number 1 specialty coffee retailer, Starbucks, has
more than 17,000 coffee shops in about 40 countries. The company
also owns the Seattles Best Coffee and Torrefazione Italia coffee
brands.
Starbucks is planning to open its third African location, after Egypt
and South Africa, in Algeria. A partnership with Algerian food com-
pany Cevital will result in Starbucks frst Algerian store at the end
of 2012.
Mobilier de France opened its frst store in June in Alge-
ria
The world furniture leader, Mobilier de France, opened its frst
store in Algeria last year. The French brand has chosen to settle
in Dely Ibrahim, a suburb of the city of Algiers in northern Algeria.
There will be more openings in Algeria in several provinces, namely,
Oran, Annaba, Blida, Setif, Bejaia.
Swiss investors venture into Algerias retail sector
Swiss investors unveiled Algerias frst Western-style shopping
mall recently, a 70-million-euro project that marks the frst ma-
jor foray by foreigners into the energy exporters untapped retail
market.
Algeria has 35 million people and one of the highest levels of in-
come per capita in Africa, but international retailers have been put
off by curbs on foreign investment and a confict between govern-
ment forces and Islamist rebels.
A joint venture of Swiss banking group Valartis and Swiss depart-
ment store operator Jelmoli fnanced the shopping mall, recreati-
on and offce complex in the Algerian capital and stated that two
more projects worth 80 million euro are planned.

Algier by night
Centre Commercial Bab Ezzouar
308
66
Cairo, American Eagle, Gap and
Marks & Spencer debut
.
Egypts capital city of CAIRO is the Arab worlds largest city Further,
Cairo is the political, economic and cultural centre of Egypt and the
Arab world. Its old town contains a wealth of Islamic architecture
and was named a UNESCO World Cultural Heritage Site in 1979.
Cairo has a population of 7,9 million within the city limits, and
around 16,2 million in the greater Cairo area the second largest
in Africa after Lagos, Nigeria. However, as Egyptians are not requi-
red to register, these population fgures are based on census fgu-
res, and unoffcial estimates put the population of greater Cairo
at up to 25 million, which would represent nearly a third of Egypts
entire population.
Egypt crisis has dramatic effects on luxury market
The current ongoing turmoil in Egypt has brought a complete halt
to the countrys feeble luxury market. Stores such as Burberry,
Ferragamo (inaugurated Fall 2010) have remained closed since the
debut of the crisis. Despite remaining open, jewellery and watch
stores within Hyatt and Four Seasons hotels as well as the leading
multi-brand stores Ego and Beymen have seen a drop of 70 % in
sales and their forcast remains gloomy for the rest of the month.
City Stars, the largest shopping mall in Cairo has seen its traffc
decrease by 30 % as people prefer to remain at home.
Cairo City
309
Traffc in Cairo
Nasr City is Cairos mall district
Nasr City is regarded as Cairos mall district because most of the
famous malls locate in that area including Tiba Mall, City Center,
Genena Mall and many other shopping centres Nasr City malls
are quite more successful than the malls ashore the Nile because
these malls are presenting local brand and international brands
products in a price range that the middle and lower middle class
can afford too. On the other hand, the number of people who vi-
sit splendorous malls such as Arcadia is decreasing because it is
presenting products that only the upper class can afford.
Stars Centre is the retail and leisure component of the City Stars
complex and provides a unique shopping and entertainment expe-
rience in the Middle East. The shopping centre with its 643 stores
houses world-renowned brand names. Stars Centre is also accom-
panied by 2 indoor theme parks, a 21 state-of-the-art screen ci-
nema complex, as well as diverse dining choices. Khan El-Khalili
Treasures and a 20,000 square metre exhibition area was built to
international standards.
City Stars is one of the recently constructed multi-purpose malls
in Cairo that achieved a renowned fame throughout Egypt. It stands
as a three story building with numerous shops enclosing all and
every good local and international brands such as Dalydress, BTM,
Mango and Esprit and many others. Presenting plenty of interna-
tional brands at good prices attract more tourists shopping in city
centre than any other mall in Cairo.
Major UK retailer opening new stores in Egypt
Major UK retailer Marks & Spencer has plans to open 3 new stores
in Egypt as part of their expansion into the Middle East.
The frst store in Egypt was opened at the Dandy Mega Mall in Cai-
ro with a VIP ribbon-cutting ceremony and shopping event to mark
the occasion. The 2,600 square metre store will provide stylish,
high quality, great value clothing and home products to Egyptian
consumers.
The company will press ahead with the opening of its second Cai-
ro store, despite recent widespread political unrest in the Arab
country. Other stores are planned in various locations around Cai-
ro; most notably their fagship store scheduled to open in 2012 in
Cairo Festival City shopping center on two foors of 4,500 square
metres.
Gap comes to Egypt
As part of its global expansion strategy, Gap opened its frst Gap
store in Egypt in the newly built Mall of Arabia and its frst Gap and
Banana Republic stores in Morocco in October 2011. The stores
openings mark the companys frst entry into Africa.
American Eagle Outftters arrives in Cairos Citystars
American Eagle Outftters is located almost next to H&M in the
malls Phase 2. The basic concept of American Eagle is to provide
quality goods at reasonable prices. Their trademark style is that of
trendy yet comfortable clothing.
City Stars Mall, Cairo
Marks & Spencer, Cairo
310
7 new openings for Azadea Group in Cairos City Stars
One of the leading fashion and lifestyle retail companies in the
Middle East and North Africa is expanding its retail network in Cai-
ro and added seven new stores to its Egyptian portfolio in Cairos
renowned City Stars complex.
Following Zaras successful opening in June of last year at City
Stars, the dynamic group has engaged in the task of expanding in
Cairo by opening, a panoply of outlets for several of their brands. In
fact, Zara Home, Uterqe, Massimo Dutti, Stradivarius, Pull & Bear,
Bershka and Sunglass Hut opened their doors one after the other
to the Egyptian public.
The Arkadia Mall burned down during the revolution
Arcadia shopping mall at Corniche el-Nil, Bulaq, in Cairo was one
of the modern shopping centres where consumers could fnd a
wide range of international products in more than 500 stores. It
lies in El Tahrir square on the shore of the Nile River, few metres
away from Conrad International Hotel and the World Trade center
in Boulaq Abou El Ela.
The most famous shopping center: Talaat Harb mall
Talaat Harb mall is the most famous and most visited shopping
center in Cairo. One of the factors for attracting both Egyptians
and foreigners alike to this market is presenting fashionable sho-
es, clothes, cotton works, and leather products at good prices.
Metro Cash & Carry
With the opening of its frst store in Cairo under the brand name
Makro, the wholesaler Metro Cash & Carry continues its success-
ful international expansion strategy. The store near Cairo was
opened in June 2010. Egypt is listed as the 31st country within
the companys ever growing network represented by over 670 self-
service wholesale stores around the world.
The frst Egyptian Metro Cash & Carry wholesale store located in
El Salam City near the capital offers a 7 000 square metre selling
space and a wide assortment of about 20 000 articles.
City Stars Mall, Cairo
311
Arcadia Shopping Mall, Cairo
El Salam City
312
67
Accra, Accra Mall -
West Africas most modern shopping mall
.
ACCRA is the capital city of Ghana,
and with two million inhabitants is
also the countrys largest city, its
economic centre, and the seat of
government. Like many cities on the
coast of Ghana,
Accra is furthermore the anchor of a
larger metropolitan area, the Grea-
ter Accra Metropolitan Area (GAMA),
which is home to about 4 million
people, making it the largest metro-
politan conglomeration in Ghana by
population, and the eleventh-largest
metropolitan area in Africa.
Accra Skyline
Street Scene Accra
313
The central business district of Accra contains the citys main
banks and department stores, the Cocoa Marketing Board head-
quarters (dealing with cocoa, Ghanas chief export) and an area
known as the Ministries, where Ghanas government administra-
tion is concentrated.
Accra Mall one of the most modern Shopping Malls in
West Africa
The Accra Mall is one of the most modern shopping malls in West
Africa. It is on Spintex Road near the Tetteh Quarshie Interchange
in Accra, and is the frst large-scale shopping centre in Ghana,
comparable to other similar sized malls anywhere in the world.
Accra Mall was offcially opened in July 2008 by the Actis Africa
Real Estate Fund, and is Ghanas frst and only Grade-A shopping
mall. It consists of 19,000 square metres of lettable space and has
parking for 800 cars. Construction of the mall took two years and
at the peak of construction over 700 people worked on the deve-
lopment.
Accra Mall, Accra
McDonalds Premiere, Kotoka International Airport
Kempinski Hotel, Accra
314
The mall is 99 % let with 69 retailers like Mr. Price, Nike, Puma,
Sony, Swatch and Vodafone, including major banks, pharmacies,
a large department store and a cinema. Investment in shopping
centres can have signifcant positive social and economic impacts,
both direct and indirect. Businesses in Accra Mall generated an
estimated 4,5 million dollar in sales tax for the Ghanaian govern-
ment. It is projected that taxes, rates and fees of 60 million dollar
will be accrued from retail tenants over a ten year period.
The Kempinski Hotel Gold Coast City is expected to cater
primarily to the business segment
Kempinskis frst project in Accra will be located on the former
racecourse site in the heart of the city. The Kempinski Hotel Gold
Coast City is expected to cater primarily to the business segment
and will boast the largest rooms in the city. The hotel is set to be
the centrepiece of a public-private partnership project with inte-
grated mixed-use hospitality facility, Gold Coast City, which co-
vers an area of some 35 acres and would include residential apart-
ments, retail space, an exhibition centre, offces and government
buildings.
The Kempinski Hotel Gold Coast City will have 267 rooms, including
17 luxury suites and 2 presidential suites. The hotel will include
four restaurants offering a range of international cuisines, two
bars, indoor and outdoor swimming pools, spa and ftness centre,
tennis and squash courts, as well as shopping facilities. The hotel
will have over 1,500 square metres of conference and banqueting
space including modern meeting rooms boasting state-of-the-art
audio-visual technology, a fully-equipped business centre and
business lounge.
The hotel is adjacent to the Accra International Conference Center,
ministry buildings, the State House, the National Theatre, the Ac-
cra Sports Stadium and various commercial offce towers.
McDonalds arrives in Ghana
McDonalds, the worlds largest chain of hamburger, fast food re-
staurants, serving more than 58 million customers daily, in 119
countries, opened up branches in Ghana by early 2011. They are
looking for free retail spaces at popular places in Accra such as
the Kotoka International Airport (KIA), Osu, Spintex road and the
Accra Mall.
Brand New KFC in Accra Ghana
It has been circulating within the on-
line Ghanaian community for around
2 years, that Kentucky Fried Chicken
(KFC) is on its way to Ghana. In August
2011, they have offcially launched its
frst fagship restaurant at Osu in Ac-
cra.
The coffee shop/restaurant Dulce Caf
operating in South Africa, has also
opened new coffee shops in Ghana.
The frst Dulce retail store opened on
Rink Street in Port Elizabeth, in the
year 1984. Dulce Caf is expanding
and currently launching an ambitious
expansion of the franchise chain into
Saudi Arabia, Ghana, Nigeria, Tanzania,
Botswana and Angola.

KFC, Accra
315
68
Lagos, Gildo Zegnas eyes on Nigeria as
emerging market
.
LAGOS is Nigerias largest city and until 1991 was
the nations capital. With 9,7 million inhabitants,
Lagos, along with Cairo and Kinshasa, counts as
one of the most populous cities in Africa and in
the world. The greater Lagos area, which extends
beyond the federal state of Lagos and into parts of
Ogun, has 13,1 million inhabitants. Abuja has been
the new capital of Nigeria since 1991.
Nigerian market opens up for clothing
retailers
Nigerias decision to lift a ban on imported texti-
les is opening up many opportunities for foreign
clothing retailers. Nigeria originally imposed the
ban in 2003 to stimulate domestic production. This, however, only
led to the smuggling of cheap clothing from Asia. Local manufac-
turers have also struggled because the countrys poor power sup-
ply forces them to run their operations on expensive generators.
The Nigerian government last year announced that it will lift the
ban and introduce import tariffs. These tariffs were originally re-
ported to be between 10 % and 20 %, but according to some sour-
ces the effective rate is much higher.
The recent lifting of the textile importation ban in Nigeria has
sharply expanded the scope of international retailers that are able
to trade in Nigeria, says Michael Chudi Ejekam, director of Actis
West Africas real estate division. Actis developed Nigerias frst
modern shopping mall, The Palms in Lagos, and its second facility,
the Ikeja City Mall, is set for completion in 2012. Ejekam expects
the lifting of the ban to increase the demand for retail space in
Nigeria.
Lagos City Center
316
Gildo Zegnas eyes on Nigeria as emerging market
In a recent interview to the Financial Times, Gildo Zegna, CEO of
Ermenegildo Zegna, mentioned the African countries of Nigeria
and Angola as the next luxury emerging markets with many of
those nationals shopping as tourists in Europe. This comes as a
surprise, since all major international luxury fashion brands target
expansion in India and South America.
Nigeria has a number of new modern shopping malls in various
stages of development. These include the Ikeja City Mall in Lagos,
the Polo Park Mall in Enugu State and a planned shopping centre
in Ilorin, Kwara State. Current facilities include The Palms in Lagos,
the Tinapa Shopping Centre in Cross River State and the Ceddi Pla-
za in Abuja, to name a few.
Woolworths and Etam consider to enter Nigeria
According to a Bloomberg report, another South African food and
clothing retailer, Woolworths Holdings, is also considering oppor-
tunities in Nigeria. In addition, European women fashion group
Etams outlet in Lagos is set to open soon.
The Palms shopping mall attracts international retailers
The Palms Shopping Mall is located on a 45 000 square metre plot
of land in Lekki Peninsula, in Lagos, Nigeria. It has 21 000 square
metres of lettable retail space. The mall was built on swampland
that was reclaimed by the government recently and construction
was commissioned by the Oba of Lagos and President Obasanjo.
The mall, which opened in early 2006, has 69 stores and a modern
six screen cinema. There is parking space for about a 1 000 cars.
The space accommodates over 60 shops including the internati-
onal brands as Apple, Converse, KFC, Levis, Mango, Nike, Swatch
and a Sony Center.
The Palms Shopping Mall is the largest and frst of its kind in Nige-
ria. The mall is owned by Persianas Properties Limited, part of the
Persianas Group, promoted by Nigerian businessman Tayo Amu-
san, a Nigerian property developer. The Persianas Group is also de-
veloping similar shopping malls in Enugu, like the Polo Park Mall,
and in Kwara the Kwara Mall which started at the end of 2011.
Several other projects are also underway in other parts of Nigeria.
Mango & Etam opened frst store at The Palms
The Nigerian retail sector is expanding and with the buying power
of the Nigerian populace on the rise, the foreign fashion conglo-
merates are taking note and seeking to enter potentially lucrative
market.
Mango has successfully operated in Nigeria for over a year and now
European lingerie brand Etam is opening its frst Nigerian store in
Lagos, situated at The Palms Mall in Lekki, Lagos. Etam recently
made a big splash during Paris Haute Couture Fashion Week in Ja-
nuary 2011.
The brand hosted a huge lingerie catwalk show which featured su-
permodels including Karolina Kurkova in saucy lingerie. Lets see,
if the brand is able to cause a similar sensation in Lagos.
Traffc in Lagos
Mango Shopperin Palms
317
Ikeja Shopping Mall with
new international retailers
The opening of the 100 million
dollar Ikeja City Mall brings
international retail and leisure
facilities to Lagos. The mall is
a world class retail and leisure
development initiated by Actis
three years ago and comprising
27,000 square metres of gross
built area and 23,000 square
metres of lettable area.
The space accommodates near-
ly 100 shops including Shoprites
latest generation store of over 4
400 square metres, KFC, Mr. Pri-
ce, Twice as Nice, Nike and Aldo.
The design of the mall incorpo-
rates informal meeting places,
a food hall and a fve screen Sil-
verbird cinema.
Mr. Price will open stores
in Nigeria
South African clothing retailer
Mr Price has indicated that it is
interested in opening up stores
in Nigeria. The company alrea-
dy has operations in other Af-
rican countries but sees Nige-
ria as the frst prize. Business
Day quoted Mr Price chairman
Alistair McArthur saying that
the big one we need to open
up is Nigeria. He added that
Nigerias population of more
than 154 million could support
50 to 100 stores.
Retrospective with Nigeria
debut
Retrospective brings its frst
boutique to Lagos. Taking pride
of place as the frst vintage in
store shopping experience in
Nigeria, the boutique located in
the centre of Lagos Surulere
home to the National Stadium
and Nollywood houses one of a kind, retro and vintage accesso-
ries and clothing for men and women, giving all who step through
its doors a unique walk down memory lane.
Tinapa Shopping Centre
The close proximity of Tinapa to the manufacturing based Calabar
Free Trade Zone as well as the Calabar Sea and Air Ports, presents
opportunities for manufacturers, retailers and wholesalers to ex-
pand their activities due to increased trade.
Polo Park Mall Rendering
Ceddi Plaza, Abuja
Its location off the main highway into the city of Calabar, means
that visitors from other parts of Nigeria and the neighbouring
countries can access Tinapa easily without going through the inc-
reasing traffc at the city centre. Whats more, the Cross River Sta-
te Government, initial promoter of the Zone, has executed a loan
agreement for the construction of a monorail connecting Tinapa to
the airport to further improve accessibility.
318
The Tinapa Shopping Centre presents the inspired and discerning
shopper with a bouquet of product offers from her 54 quality re-
tail outlets and four huge emporia each of which is about 10,000
square metres.
Ceddi Plaza in Abuja
Ceddi Plaza is made up of 55 specialty shops, offces & service
providers consisting of movie theaters, a bookstore, champag-
ne lounge, the Atrium @ Ceddi Plaza, restaurants, cafes, fashion
boutiques, shoes, accessories, and home interior design stores,
furnishings, health & beauty salons, gift shops, telephones, ban-
king and ATMs, dry cleaning services, a dental offce, a pharmacy,
a photo studio, childrens entertainment, an event hall and much
more.
Ceddi Plaza is owned by Ceddi Corporation and is located in the
Central Business Area of Abuja. The Plaza consists of 10,000
square metres of retail and offce space.
Polo Park Mall
Polo Park Mall is situated on the Polo Park Grounds in the city of
Enugu, Enugu State. The mall is developed by Polo Park Develop-
ment Company, a private-public-partnership between the Enugu
State Government and Persianas Group, the developers and ow-
ners of The Palms Shopping Mall, Lagos Nigerias premier shop-
ping mall.
This initiative aims to propel Enugu State towards achieving a
mega city status and to provide employment for its citizens and
thereby giving residents a modern shopping experience.
Shoppers are able to browse, walk around at leisure and make
purchases in a serene, clean environment complete with state-of-
the-art facilities. The mall will be home to a variety of shops ran-
Ceddi Plaza, Abuja
ging from cosmetics, food items to electronics. There will also be
a food court packed with some of the biggest food chains. The big
opening was in September 2011.
Samsung Electronics opened frst shop in Nigeria
In order to avert its products from being pirated as well as distan-
cing itself from substandard products, Samsung Electronics West
Africa (SEWA) in conjunction with Crista Digital Limited recently
opened the frst one-stop technology shop in Nigeria, which is
branded as Samsung IT Plus .
According to Samsung, the shop, located at Sanusi Fafunwa Street,
Victoria Island, Lagos, is the fagship of SEWA IT products outlet in
Nigeria, established to simplify individuals and businesses infor-
mation technology procedures. Samsung Electronics West Africa
(SEWA) has partnered with Crista Digital Limited, and launched the
frst Samsung IT Plus shop in Nigeria in December 2011.
Woolworths will launch 3 more retail stores in Nigeria
Just weeks after announcing the opening of stores in Uganda and
Tanzania in 2011, Woolworths said it would add three more stores
to its growing African portfolio in Nigeria.
Woolworths latest joint venture with listed Nigerian company
Chellarams saw three store openings in December 2011 and seven
more are to follow over the next two years. Two stores opened in
Lagos, one at The Palms and the other at Ikeja. The third will open
in Polo Park in Enugu State in Nigeria.
Walmart will open more stores in Nigeria
Walmart, Americas foremost low-price merchandise retail store,
is planning to open two stores in Nigeria soon.The companys plan
to open stores in Nigeria is part of the strategy of its leadership
team.
319
69
Johannesburg, new expansion at Sandton City
Nelson Mandela Mall
.
JOHANNESBURG is the capital of South Africas Gauteng province,
and with 3,9 million inhabitants is also South Africas most po-
pulous city, as well as its most populous conurbation with nearly
8 million inhabitants. The capital city of South Africa is Pretoria,
which is around 50 kilometres to the north.
The largest shopping mall in Johannesburg is Nelson Mandela
Square at Sandton City (Sandton City for short). The citys other
well-known malls are Eastgate, Westgate, Northgate, Southgate,
Melrose Arch, Rosebank Mall, and Cresta. A 250,000 square metre
mall in Midrand is currently planned that will be called ZonkIzizwe
Shopping Resort (ZonkIzizwe is Zulu for all peoples).
New expansion at Sandton City
Sandton is a wealthy area situated within the metro of Johannes-
burg, Gauteng. The name comes from the combination of two of
its suburbs, Sandown and Bryanston. The Sandton area is one of
the most opulent in Johannesburg and South Africa, and therefore
in Africa, but not far away (only about 6 kilometres) from Alexan-
dra, one of the poorest former black townships. Sandton covers
Johannesburg Downtown
Skyline Johannesburg
320
an area of approximately 156 square kilometres while Alexandra is
just over 8 square kilometres. It is estimated that the population of
Alexandra is the same as that of Sandton itself.
The new expansion at Sandton City opened in November 2011. The
entrance 12 facing onto Rivonia Road is within walking distance
of the new Gautrain station and the area will include a Piazza for
those who enjoy the atmosphere of bustling street cafes.
Its owners, Liberty Properties (75 %) and Pareto Limited (25 %), say
specialised retailer groups opening stores in this phase will add
unprecedented sparkle to South Africas leading fashion destinati-
on. The iconic Sandton City opend its doors, with a new look while
unveiling new international retail brands to offer shoppers only the
best money can buy.
Zara opened one of the biggest shops in the World
Zara, the leading chain of Spanish textiles group Inditex, is forging
ahead in the global market. The Spanish brand is now making its
South African debut in the new Sandton City mall in the capital
Johannesburg. The location is said to be one of its biggest shops in
the world. With an area of 2,700 square metres, it has collections
for men, women and children especially designed for the climate of
this country in the southern hemisphere.
New Ferrari store in Johannesburg
In June 2010, Ferrari celebrated the opening of its latest offcial
store, located in Sandton City in the Nelson Mandela Mall. The
branch is the second to be established in South Africas second
largest city, with a shop already located at its International Air-
port. The latest Ferrari store, which offers local fans the chance to
purchase offcial team items, boasts over 100 square metres.
The Johannesburg Ferrari store joins others in numerous recognis-
ed cities such as London, Barcelona, San Francisco, Miami, Kiev,
Dubai, Rome, Milan and Venice.
Sandton City, Johannesburg
Sandton City Shopping Mall, Johannesburg
321
Guess and Paul & Shark with South Africa . debuts
Retailer Busby Group with 13 stores in Sandton City will extend its
presence with the introduction of a new concept Guess accesso-
ry store. International retailer, Surtee Group debuts into Sandton
City and Africa with the opening of the Italian luxury brand Paul
& Shark.
Liberty Properties say, the new 120 square metre shop is being
designed and manufactured in Naples and fown to South Africa.
Serial shoppers who have visited Paul & Sharks store in Milan on
Via Montenapoleone will be happy to know the Sandton City store
will be identical to the one in Italy.
New Sarah Pacini outlet to open in Johannesburg
Some two decades ago, Sara Pacini caught the attention of women
worldwide with her distinctive and innovative style. She is known
for the unique way she combines knitwear, fabrics, and colour to
create ultra-feminine collections.
For its expansion into Africa, the company decided to open a store,
in July 2011, at the well-known Hyde Park mall on Johannesburgs
Jan Smuts Avenue. Sarah Pacini has 55 exclusive boutiques world-
wide and plans to open additional outlets, likewise worldwide.
Other new retailers
Other retailers opening stores in the new phase include Hugo, Ste-
ve Madden, Ben Sherman, Hackett, Jack Friedman, Tag Heuer, Bel-
lagio, Pandora, Democratic Republic, Zui, Okaidi, Nespresso, Le-
coqsportif, Lulu Belle, G-Star, Crossover, Shesha, Tiger of Sweden,
Zara Flagship Store Sandton City Shopping Mall, Johannesburg
Ferrari store, Sandton City
322
Kingsley Heath, Superdri, Sacks, Maska, Fossil, Zarra, Aeronauti-
ca, Adidas, Superga, Canterbury, the frst free-standing Thomas
Sabo store in South Africa, Lorna Jane, Drifters, Ordning and Reda,
Simply Manas, le Creuset and Kitchen Passion.
Sandtons City Facts & Figures
The newly-built retail space measures 30,000 square metres. The
expansion will add a further 69 stores to Sandton City, bringing
the number of stores to 360. Sandton Citys entire retail space
will total 143,690 square metres on completion of this phase, ta-
king the complex, which includes the hotel and offce component,
to 215,000 square metres.
Samsung opened in Clearwater Mall
November 2011 marked the opening of the frst Samsung brand
store for Johannesburg in the Clearwater Mall with a retail space
of 300 square metres. This is the sixth brand store in South Africa,
after ILanga Mall in Nelspruit that opened in October 2011.
Walmart, Massmart plan 2012 opening of 40 new South
African stores
Walmart, the US-based discount department and warehouse
stores chain, plans to open nearly 40 new stores by 2012, and crea-
te 15,000 new jobs in South Africa within the next fve years in col-
laboration with Johannesburg-based retailer Massmart.
Walmart recently acquired Massmart for 2,4 billion dollar .It now
plans to invest an additional 8,7 billion dollar on the new store ope-
nings, as well as the purchase of food and fast-moving consumer
goods (most of which it plans to source from local suppliers).
The Pretoria-based Competition Tribunal has stated that both
companies must ensure that there are no job cuts for two years.
They must also ensure that existing labour agreements are honou-
red for three years after the purchase. The tribunal further stated
that the merger was valid only if a 14,46 million dollar supplier de-
velopment fund was established by both retailers.
Clearwater Mall, Johannesburg
323
70
Capetowns Canal Walk: The largest shopping
mall in the southern hemisphere
.
CAPETOWN, South Africas third largest city after Johannesburg
and Durban, extends over a 2,455 square metre area and has 3,4
million inhabitants. The city is named after the Cape of Good Hope,
which is around 45 kilometres to the south and used to be an ext-
remely hazardous area for ships voyaging to India.
Victoria & Alfred Waterfront mall
Capetown and its suburbs have numerous shopping malls such as
the Victoria & Alfred Waterfront mall which, as the name implies,
is located near the harbour. The mall, which was built on part of
the Port of Cape Town docks, is the citys most visited tourist at-
traction. Part of the charm of the V&A, as it is known locally, is that
the port is still in operation and visitors can watch ships arrive and
depart.
The Victoria & Alfred Waterfront development is a renewal project
that incorporates much of the historic harbour infrastructure. The
whole complex is managed by a private company owned by Trans-
net.
Cape Town Skyline
Victoria & Alfred Waterfront Shopping Center, Cape Town
324
An international consortium of Dubai World and London & Regional
Properties acquired the development in 2006 at a record value in
South African terms of 7,4 billion rand (711 million euro). They sold
the completed attraction to South African owners Growthpoint,
the countrys largest property company, and the Public Investment
Corporation in 2011.
Century City development of 960 million euro
Century City is a 250 ha suburb of Cape Town, that was constructed
as a mixed use development including entertainment, residential,
retail and offce components. Development began under Monex
Development in 1997 and continues under the new owners, Rabie
Property Group. Investment thus far exceeds 10 billion rand (960
million euro). It is located 10 kilometres to the north-east of cen-
tral Cape Town along the N1 motorway and is traversed by nume-
rous waterways, wetlands and canals.
Capetowns Canal Walk: The largest shopping mall in the
Southern Hemisphere
Canal Walk was the largest shopping mall in Africa and the
Southern Hemisphere in lettable area when it was opened in De-
cember 2000. Currently, the 141,000 square metre mall contains
over 400 stores, 20 movie theatres, many restaurants and bars and
an entertainment section. Architecturally, it was designed with the
Cape Venetian style in mind. Canal Walk is the 3rd largest shop-
ping centre in Africa (Gateway Centre in Durban is the largest).
Port Cape Town
Canal Walk Shopping Center, Cape Town
325
UU opened in Kloof Street
Unknown Union (UU) is more than a clothing shop. In March 2011,
the brand opened its frst South African store on Kloof Street.
With interiors designed by globally recognised, New York-based
architectural designer Rafael de Cardenas and curated by a dy-
namic team of international music, design and fashion players, it
represents a collective of global creativity that is set to make itself
a fresh and important part of Cape Towns urban, cultural scene.
Lamborghini opens two dealerships in South Africa
Lamborghini has opened two dealerships in South Africa, one in
Capetown and the other in Johannesburg. Both are run by Pearl
Lamborghinis Aventatdor, Cape Town
Lamborghini Aventatdor, Cape Town
Automotive, which is Lamborghinis new partner in South Africa.
Both dealers showcased the Lamborghini Aventador LP 700-4 at
the 2011 Geneva Auto Show, where the new model was unveiled.
LG Electronics opens frst South African store
LG Electronics, the Seoul-based South African subsidiary of the
LG Group, opened its frst store in Cape Town in December 2011.
The store is part of its plan to capture the growing organised retail
market through a chain of exclusive shops across the country. It
will be opening three more such shops in the next six months in
Botswana, Mauritius and Mozambique, with an overall goal to open
1,000 stores across Africa in the next two year.

326
327
328
Asia
.
With its around 44,6 million square kilometres of surface area, Asia
is the worlds largest continent and a part of Eurasia, it accounts
for around a third of the Earths land mass. Asia has around four
billion inhabitants, or roughly 60 % of the worlds population.
Hong Kong Skyline
329
71
New Delhi, Bottega Veneta, Damiani and Canali
debut at Oberoi Gurgaon Hotel
.
NEW DELHI is part of the Indian metropolis of Delhi and is the seat
of the Indian government. During the British colonial period begin-
ning in 1911, New Delhi was constructed south of the old city of
Delhi, and thus New Delhis 42,7 square kilometres comprise only
a minute fraction of the 1,483 square metre surface area of the
capital city. According to the 2011 census, New Delhi has 249,998
inhabitants.
Delhi and New Delhi, which comprise the capital of India, are gover-
ned as a union territory by the central government under the name
of National Capital Territory of India. With 11 million inhabitants in
the city proper and 16,3 million in the National Capital Region (as
the conurbation is called), Delhi is Indias second largest city after
Mumbai and counts as one of the worlds mega-cities.
Streetlife, New Delhi
New Delhi Skyline
330
Adolfo Dominguez debuts at Ambience
Mall
In early February 2011, the Spanish fashion
designer Adolfo Dominguez opened a new
boutique in a 325 square metre space in New
Delhis Ambience Mall. The Spanish fashion
designer wants to open 25 stores across India
over the next fve years. The brand has partne-
red with the Wadhawan Lifestyle Retail Group
to launch its second store coming up in Gur-
gaon, as well as its third in Mumbai.
Indias No. 1 Lifestyle Brand new in
Ambience Mall
Van Heusen, Indias premium corporate fashi-
on brand, launched its new fagship Store in
the Ambience Mall, in September 2011. The
new store is located on the frst foor of Am-
bience Mall, and showcases the fnest coll-
ection of suits and blazers in the country. Van
Heusen is the worlds No.1 dress shirt brand.
It is not different in India, except that it is also
the countrys No. 1 premium lifestyle brand
for men, women and youth. This is the brands
twenty-ninth store in the city.
The Claridges Hotel New Delhi
Oberoi Hotel New Delhi
331
First Versace Home Boutique opened
in The Gallery MG
In January 2011, the frst Versace Home Bou-
tique opened its doors, at The Gallery MG,
one of the most prestigious shopping cen-
tres in New Delhi. This Versace Home fag-
ship boutique covers over 300 square metres
and refects the Maisons DNA. The Boutique
showcases the complete interior collections
Living and Dining, in a diverse series of ele-
gant, very fashionable settings.
Bottega Veneta, Damiani and Canali
debut at Oberoi Hotel Gurgaon
In 2011, the Italian luxury retailer Bottega Ve-
neta opened a new boutique at New Delhis
ritzy Hotel Oberoi Gurgaon in a 60 square
metre space that is the companys second
store in New Delhi and the third one in India.
The Italian jewellery house Damiani also
opened its frst Indian store, in November
2011, at Hotel Oberoi Gurgaon. The company
is seeking a location in Mumbai where it ho-
pes to open a second store in 2012.
Connaught Place New Delhi
Oberoi Hotel New Delhi
332
Apart from Bottega Veneta and Damiani, Canali also opened a bou-
tique in 2011 at Hotel Oberoi Gurgaon in a 150 square metre space,
bringing to six the Canali mono-brand store feet in India.
Bally fnally comes to India
Indias frst Bally store was unveiled at New Delhis luxury hub, the
DLF Emporio Mall in Vasant Kunj, on 4th November, 2011. In kee-
ping its commitment with the Franchise Bird Group International
to promote the brand in India, more stores are planned at premium
locations across India.
Hamleys Toys available in DLF Place Mall
The British toy retailer Hamleys, which operates in India under a
franchise agreement with Reliance Retail, is all set to open a fag-
ship store in Delhi, its frst-ever in the national capital. The 1,858
square metre store will sprawl across three foors of the DLF Place
Mall in South Delhi.
Hamleys intends to open 20 stores across India in the next seven
years, for 2012, they are looking for new openings in New Delhi,
Mumbai, Pune, Hyderabad, and Bangalore.
100th Tommy Hilfger store opens in India
In November 2011, Tommy Hilfger launched the 100th store in
Connaught Place. Situated in the heart of the Indian capital, at
the centre of the citys historic business and retail district, the new
store provides the perfect backdrop to present the Tommy Hilfger
lifestyle to New Delhis fashion consumers. The 180 square metre
retail space includes tailored clothing, women, children and mens-
wear, footwear, accessories and Hilfger Denim collections. The
store is operated under a licence to an experienced retail partner
in the region.
Carlton Bags new in India
The global luggage brand Carlton has announced its entry into the
retail segment of India with the launch of its frst store in South
Extension II, New Delhi. At present, the brand has a presence in
over 50 countries across four continents.
First Lacoste fagship store has arrived in Delhi
Lacoste has launched its frst concept store Lacoste L!ve in India
at Select Citywalk, Delhi, in December 2011. In the coming month,
the casual brand will open two to three exclusive outlets in New
Delhi and Mumbai.
Massimo Dutti Expansion Plans
In cooperation with the Indian conglomerate Tata Group, Inditex
is planning for Massimo Duttis future presence in India, after the
four successful openings of Zara Stores in New Delhi and Mumbai.
Massimo Dutti has 542 stores in 50 countries and offers a variety
of collections from high-end fashion to easy-going casual wear.
Uniqlo about to open in India
Fast Retailing, Asias largest clothing retailer is planning to open
up Uniqlo stores in India. The company, which aims to open 4,000
Uniqlo outlets by 2020, with 1,000 each in China and Southeast
Asia, also said it will consider opening stores in India. The Japanese
fashion retailer has been in advanced negotiations with Mumbai-
based conglomerate Aditya Birla Group, to set up a joint-venture
Bally DLF Emporio Mall, Neu Delhi
DLF Emporio Mall, New Delhi
333
Select Citywalk Emaar MGF and DLF Malls at Saket, New Delhi.
DLF Place Mall, New Delhi
334
72
Mumbais 150,000 square metre Phoenix
Market City mall opens
.
MUMBAI (formerly Bombay), the capital city of the Indian state of
Maharashtra and Indias most important port city, is located on
Salsette Island just off the west coast of Maharashtra. The centre
of Mumbai is perched on a narrow strip of land that extends from
the marshy coast into the Arabian Sea. Mumbai is the commercial
centre of India.
With 12,5 million inhabitants in Mumbai proper (i.e. excluding the
suburbs that surround the city), Mumbai is Indias largest city and
one of the worlds most populous conurbations. With a population
of 18,4 million, the Mumbai Metropolitan Region, which also inclu-
des the northern section of the city of Thane, is the worlds largest
metropolitan region.
Ermenegildo Zegna takes over from Moschino
In the autumn of 2011, Ermenegildo Zegna relocated
from Taj Mahal Palace to the former Moschino bou-
tique at Shangri La Hotel.
Tom Ford takes over from Zegna
The US designer Tom Ford, working with local fran-
chise partners in Mumbai and New Delhi, took over
the 110 square metre Ermenegildo Zegna store at
the Taj Mahal Palace. This is Tom Fords second store
in India, the frst being at New Delhis Emporio Mall.
Herms opened frst stand-alone Boutique
In July 2011, Herms opened at Horniman Circle in a
150 year-old building that overlooks the Asiatic Soci-
ety Library to one side and the Horniman Circle gar-
dens just ahead on the other. The 278 square metre
store, covering 2 foors, is the frst stand-alone luxu-
ry brand boutique outside of a mall or fve star hotel
in India.
Canali opened at Palladium mall
Genesis Luxury, which has partnered brands such as Jimmy Choo
and Bottega Veneta, experimented by opening a store for Italian
menswear Canali at Mumbais Palladium mall. There were high
risks of adjacencies, says Deepika Gehani, creative head of Gene-
sis Luxury, referring to neighbours such as DKNY and Zara, which
are international brands but not classifed as luxury.
The Canali store at Palladium generated close to 100 % higher
sales within three months of launch than its outlet at JW Mariott
in the same city.
Mumbai Panorama
Mumbai Skyline
335
Cartier will expand with 6 to 7 more boutiques
Cartier launched its frst boutique in India in New Delhis DLF Em-
porio Mall in 2008. Now they are looking for a suitable location in
Mumbai, where their store will be 300 to 500 square metres with
the same look as Cartier stores worldwide. Cartier intends to open
six to seven boutiques in India over the next ten years.
Damiani is seeking for a new boutique
Italys leading jeweller, the Damiani Group, is known for the time-
less elegance of its jewellery. After their frst location in the Oberoi
Hotel in New Delhi, they are seeking for a second location, to set
up boutiques in Mumbai.
Europes most popular retailer
Nara Camicie takes up residence
at Phoenix Mall
Nara Camacie makes a broad range of
mens and womens fashion shirts for
every occasion.
In November 2011, the Italian retailer
opened a 70 square metre boutique
at Mumbais Phoenix Mall. This is the
companys frst franchise store in In-
dia, and additional shopping outlets
at Indian shopping malls are in the
pipeline.
Opening of Phoenix Market City Mall
In November 2011, the large Phoenix Market City Mall has opened
their Doors in Kurla Area. Kurla is a city-centric location, with easy
access to the airport. Because of the prime location and size, it will
surely become a destination and earn itself a spot on the tourist
sightseeing list. The interiors of the mall have been designed to be
simple and aesthetic. The main mall spreads across three levels,
with natural light in abundance, wide corridors and carefully con-
sidered lines-of-sight to all retail partners. The merchandise mix
includes strong representation in key categories such as conveni-
ence and service, fashion, entertainment & leisure, home, electro-
nics and food & beverage.
Mumbai Skyline
Taj Mahal Palace, Mumbai
336
The mall contains 150,038 of retail space, 55,471 of which host 362
small boutiques. The Center also has 125,419 square meters of
customer parking space.
Boggi Milano opens ninth Indian store
In July 2011, the Italian family-run apparel company Boggi Milano
opened its frst store in Mumbai, bringing to nine the retailers In-
dian boutique feet. The new 1,200 square metre store which is lo-
cated at Mumbais Infnity 2 mall, offers classic fashions that take
their cue from the Milan lifestyle. Boggi plans to open an additional
35. stores in India.
New Opening of Celio with a wine bar on the frst foor
The international mens clothing retailer Celio, based in Saint-
Ouen, France, has opened a new fagship store in December, 2011.
The 511 square metre store is located in the Linking Road and fea-
tures a wine bar on the frst foor. Most of Celios stores are located
in shopping centres, with a smaller percentage to be found in the
shopping districts of cities and large suburbs. Celio has decided on
15 more stand-alone stores by the end of 2012.
Palladium Mall, Mumbai
Herms Horniman Circle, Mumbai
337
U.S. Polo Association opens 50th store
The United States Polo Association is the national governing body
for the sport of polo in the United States since 1890. The USPA pro-
vides resources to approximately 3,600 individual members and
250 polo clubs, across the U.S. and Canada, including coordinating
and supervising professional polo matches, tournaments and ac-
tivities of its U.S. member teams. The US label has celebrated its
50th store opening in December 2011, on Indias Linking Road.
The new store was opened as a joint venture with the companys
franchise partner Arvind Lifestyle Brands, which also markets such
international brands as Arrow, Izod, Gant, and Energie in India.
U.S Polo Assn and their Franchise partner Arvind Lifestyle expect
to operate a total of 100 stores in India, by the end of 2012.
Phoenix City Mall Rendering, Mumbai
Manchester United Store, Mumbai
338
Vero Moda and Jack & Jones opening, Mumbai
Australian coffee comes to India
The Australian coffee chain Gloria Jean is expanding to India, and
plans to open 30 stores by the end of 2012 in collaboration with its
franchise partner Citymax India in Bengaluru, Chennai, Hyderabad,
Mumbai, and Delhi and in second tier cities such as Chandigarh,
Jaipur, and Pune. Presently, the company has over 1,000 stores
across 39 countries worldwide of which 480 are in Australia.
Bestseller opens multi-brand outlet in Mumbai
In December 2011, the Danish young-fashion retailer Bestseller
opened a multi-brand outlet at Mumbais Phoenix Mall. The 727
square metre store will carry Jack & Jones menswear, Vero Modas
Only womens fashions, and Pieces accessories. Bestseller is ai-
ming to open eight to ten additional outlets by mid-2012 in Bhopal,
Kanpur, Raipur, Kochi, and Bangalore.
Metro Cash & Carry comes to Mumbai
The Dusseldorf-based leading international wholesaler Metro
Cash & Carry opened its frst wholesale store in Mumbai in May
2011 in a 6 503 square metre space at Neptunes Magnet Mall. The
store is open to members of the trade only, e.g. hotels, restaurants,
and small stores such as Kirana. Metro Cash & Carrys products
and services are geared to these target groups. The company has
subsidiaries in 30 countries and operates a total of 665 self-ser-
vice wholesale stores.
Single-Brand Retail Trading
A press release issued at the beginning of January 2012, by Indias
Ministry of Commerce & Industry, Department of Industrial Policy
& Promotion, clarifes the review of the policy on Foreign Direct In-
vestment and the liberalisation of the policy in Single-Brand Retail
Trading.
Present Position
Foreign Direct Investment (FDI), in retail trade is prohibited except
in single brand product retail trading, in which FDI, up to 51 % is
permitted, subject to conditions specifed under paragraph (A)
below.
Revised Position
The Government of India has reviewed the existing policy on FDI
and decided that FDI, up to 100 %, under the government approval
route, would be permitted in Single-Brand Product Retail Trading,
subject to specifed conditions, as indicated in paragraph (B).
339
Gloria Jeans Coffees Maharashtra, Mumbai
A.
(1) Foreign Investment in Single-Brand Product Retail Trading
is aimed at attracting investments in production and marke-
ting, improving the availability of such goods for the consumer,
encouraging increased sourcing of goods from India, and en-
hancing competitiveness of Indian enterprises through access
to global designs, technologies and management practices.
(2) FDI in Single-Brand Product Retail Trading would be subject to
the following conditions:

(a) Products to be sold should be of a Single Brand only.
(b) Products should be sold under the same brand internatio-
nally. l.e. products should be sold under the same brand in one
or more countries other than India.
(c) Single-Brand Product Retail Trading would cover only
products which are branded during manufacturing.
(d) The foreign investor should be the owner of the brand.
(e) In respect of proposals involving FDI beyond 51 %, manda-
tory sourcing of at least 30 % of the value of products
sold would have to be done from Indian small industries/
village and cottage industries, artisans and craftsmen.
Small industries would be defned as industries which have
a total investment in plant & machinery not exceeding
USD1.00 million.
B.
Application seeking permission of the Government for FDI in retail
trade of Single Brand products would be made to the Secretariat
for Industrial Assistance (SIA) in the Department of Industrial Po-
licy & Promotion. The application would specifcally indicate the
product categories which are proposed to be sold under a Sing-
le Brand. Any addition to the product categories to be sold under
Single Brand would require a fresh approval of the Government.
340
73
Hanoi, Parkson department store opens
in skycraper
.
HANOI with a population of 6,5 million is the capital of Vietnam.
Since 2004, international luxury retailers have been awakening to
the expansion and sales growth potential of this market and have
begun opening fagship stores here. Over the past two years, mi-
lestones have been reached by virtue of various luxury retailers
having opened outlets in Vietnam.
The following major malls have been built in Hanoi recently in re-
sponse to the citys rapidly growing economy and extremely high
population density: Trang Tien Plaza, Hoan Kiem District, Vincom
City Towers, Ruby Plaza, Parkson Department Store, Big C Thng
Long Supercenter, Metro AG, The Garden Mall, Vincom Shopping
Galleries, Ciputra Mall, and Yen So Shopping Mall.
Traffc in Hanoi
Hanoi Panorama
341
Gucci opens in former Hanoi Esprit Store
Ly Thai To Street which connects to the Opera House in the city
is the home of luxury brands in Hanoi. In September 2010, Gucci
opened a 400 square metre store in the Hongkong Land Building,
through the franchisee Milanovn. Next to the Gucci store is Luala
boutique, a highend fashion retailer, which opened in April 2011.
Longchamp and Van Laack opened opposite the Opera
Longchamp has targeted Vietnam as a very potent market. The 100
square metre shop is located on Phan Chu Trinh 6 opposite the
Opera House; it opened in March 2011.

In 2009, the store of elegant shirt retailer Van Laack was opened
through the franchisee DX Fashion Group. A wide range of products
can be found at 61 Ly Thai To Street, Hanoi and the other store in
Ho Chi Minh City which was opened in June 2009 on Dong Khoi
Street in District 1.
Gucci Ly Thai To Street Opera Square, Hanoi
Opera Hanoi
342
Escada opened second store in Hanoi
Escada opened their seconded store in Hanoi in 2007, by the same
franchisee as Van Laack DX Fashion Group in Ly Thai To Street.
The frst store of the brand in Vietnam was opened in June, 2001 at
106 Nguyen Van Troi Street, Ho Chi Minh City.
Valentino with Hanoi debut
Neighbouring to Escada, Valentino has recently launched the frst
mono-brand store in Vietnam on Ly Thai To Street opposite the
backside of the Metropole Softel Hotel in August 2011. The 105
square metre store is a result of the partnership between Valenti-
no S.p.A and Four Seasons Global JSC.
Escada Ly Thai To Street, Hanoi
Softel Metropole, Hanoi
343
Opera Business Centre developed
with luxury brands
The Opera Business Centre on Ly Thai To
Street celebrated the opening of the frst
Burberry stores outside of the airport whi-
le Dunhill, Este Lauder, Shiseido and My
Way Caf have also moved into the pro-
perty which is opposite the Hanoi Opera
House.
Jaeger-LeCoultre, IWC, Panerei,
Herms and Sergio Rossi at the Met-
ropole Softel
Metropole Softel Hotel houses luxury
brands in Hanoi, such as Jaeger-LeCoultre,
IWC and Panerei which opened new stores
there in 2009. One year earlier, Herms
opened a 110 square metre store in the
hotel. The Herms store is located next to
the second Sergio Rossi store in Vietnam
which opened in 2007.
Cartier opened at the Metropole
Softel Hotel
Cartier continues its expansion in Vietnam
with the opening of its third store in Hanoi
in July 2012, at the Trang Tien Plaza. The
frst store opened at the Metropole Softel
Hotel in Hanoi, on the same side as Bur-
berry, Este Lauder and Shiseido in 2005.
Tthe second opened at the Rex in Ho Chi
Minh City Arcades in 2010.
Louis Vuitton opened in 1997 before
Chopard and Vertu
On the other side of the hotel is the fag-
ship store of Louis Vuitton in Hanoi which
opened in 1997. Next to Louis Vuitton are
Cartier, the Chopard store and a boutique
of Vertu which opened in 2010.
BCBG opened 3rd boutique in Hanoi
BCBG celebrated the grand opening of
their third boutique on Ly Thai To Street in
2010 with a lease contract of 6 years. The
rent of the 187 square metre store is about
22,000 dollar per month.
Salvatore Ferragamo, Cartier, Vertu & Louis Vuitton Softel Metropole, Hanoi
344
Traffc in front of the Louis Vuitton Boutiqe Softel Metropole, Hanoi
BCBG Max Azria Ly Thai To Street, Hanoi
345
Parkson Landmark, Hanoi
Opening in Hang Da Galleria
The opening of Hang Da Galleria in September 2011 was a good
opportunity for international retailers to access the Vietnamese
market. The shopping centre is located at the centre of Hanoi.
The building consists of 5 foors and 2 basements with more than
8,000 square metres of retail space. International retailers are:
FCUK, NafNaf, Axara, Ninewest, G2000, Easy Spirit, Morgan de toi,
AK, Valentino Creation, Kelly Bi.
Nine West inaugurated the opening of the ninth store in Vietnam in
September 2011. The store is located in Hang Da Galleria. It marked
also the grand opening of Hang Da Gallerie. Axara Paris opened a
new store there in September 2011 as well.
French Connection and NafNaf with 2 new stores
NafNaf, the Parisian brand, recently opened two stores in Hanoi,
one in Pico Mall in July 2011 and one in Hng Da Galleria in August.
So did French Connection, in autumn 2011 they opened two new
stores in these malls.
Parkson opens department store at Hanoi skyscraper
Parkson, a well-known shopping brand for high-end fashion, has
opened a new store at the 72-storey Keangnam Hanoi Landmark
Tower, the countrys tallest building.
The Parkson Landmark 72 is also the biggest and most luxurious
department store in Hanoi with a total gross retail area of 35,600
square metres. So its inauguration at the beginning of December
2011 marked a further development of Parkson in the Northern Vi-
etnam market and took the number of Parkson stores in the nation
to eight.
Costing up to 10 million dollar, the most sophisticated high-end
shopping and entertainment centre in Hanoi will be able to satisfy
demands for shopping, entertainment and relaxation for close to
100,000 people residing in western Hanoi, said Parkson Vietnam.
Coach store opening in Parkson Landmark, Keangnam
Tower
The frst store of Coach has just opened in the Parkson Landmark,
Keangnam Tower, on Pham Hung Street in the Cau Giay district in
Hanoi in December 2011. The second store will be in Ho Chi Minh
City, located in Parkson Le Thanh Tong.
Easy Spirit debut in the Parkson Landmark
May 2011 marked the frst opening of Easy Spirit in Hanoi, Viet-
nam. The new Easy Spirit store is located at Parkson Landmark,
Level 2. The brand, which is owned by the Jones Group, opened its
second store in Hang Da Galleria in September 2011.
346
Pico Mall Biggest shopping centre in Hanoi
The Pico Mall Trade and Entertainment Centre offcially opened
to the public in April 2011. The fve-storey Pico Mall is the biggest
shopping and entertainment centre in Hanoi with a 30,000 square
metre space. It might also open more trading and cooperation op-
portunities for investors and businesses.
The frst and second foors are used for shopping areas with fa-
mous international brand names, the third is for sport-wear and
a Citimart supermarket, the fourth is for two of Hanois biggest
supermarkets, Pico Digital and Pico Dcor, and the ffth one is for
restaurants and the Megastar cinema.
Bata, Big Star and Triumph with new shops in the Pico
Mall
Big Star opened its frst store in Pico Mall. The store is located on
the 2nd level of the shopping centre. The shoes brand Bata set up
a new shop Pico Mall, located at the 2nd level of the mall. Famous
lingerie brand Triumph opened a new shop at 3rd level of Pico
Mall.
Coach Parkson Landmark, Hanoi
347
Ly Thai To Street, Hanoi
348
74
Ho Chi Minh City, the new Rex Luxury hotel &
shopping-mall
.
HO CHI MINH CITY (HCMC), formerly named Saigon, is the largest
city in Vietnam. The metropolitan area, which consists of the Ho
Chi Minh City metropolitan area and the surrounding towns. It is
populated by more than 9 million people, making it the most popu-
lous metropolitan area in Vietnam and the countries of the former
French Indochina.
The Greater Ho Chi Minh City Metropolitan Area will have an area
of 30,000 square kilometers with a population of 20 million inha-
bitants by 2020.
Some of the larger shopping malls and plazas opened recently
include: Saigon Centre (1997), Tax Plaza (1998), Diamond Plaza
(1999), Big C (2002), Crescent Mall, Parksons (20052009) mul-
tiple locations, Saigon Paragon (2009), NowZone (2009), Kumho
Asiana Plaza (2010), Vincom Centre (2010), Bitexco Financial Tower
(2010).
In 2007, three million foreign tourists which is about 70 % of the
total number of tourists in Vietnam, visited the city. Total cargo
transport to H Ch Minh Citys ports reached 50,5 million metric
tonnes, nearly one-third of the Vietnams total.
Parkson Flemington Shopping Centre
Ho Chi Minh Citys Parkson Flemington mall, which is one of seven
Lion Group malls, hosts the debut stores of more than 300 well-
known brands, including the following: Christian Dior, Este Lau-
der, Lancme, Clinique, Shiseido, Gucci, Clarins, Escada, Lacoste,
Guess, CK Jeans, Lancel, Esprit, Levis, Lewr, Bonita, Ecco, Geox,
Adidas, and Nike plus Vietnamese retailers such as Vera, Nino
Maxx, N&M, and An Phuoc.
Coach expanding in Vietnam
The US accessory retail chain Coach opened its frst Vietnamese
store in October 2011 at Tan Son Nhat International Airport in
HCMC Panorama
Parkson Flemington, Ho Chi Minh City
Ho Chi Minh City, and in December 2011 opened a second Hanoi
store at Parkson Landmark in Keangnam Tower. A third store will
be opening in 2012 at Ho Chi Minh Citys Parkson Saigon Tourist
Plaza.
Rex one of the leading hotels of Vietnam and also a shop-
ping mall
The fve-star Rex Hotel Saigon in HCMCs District 1 has handed
over 2,000 square metres to Imex Pan Pacifc Company for the Rex
Shopping Arcade project expected to open in October.
Imex Pan Pacifc has invested US$ 18 million to turn the ideal area
of the Rex Hotel, at the corner of Nguyen Hue and Le Loi boule-
vards and considered one of the most beautiful locations in down-
town Saigon, into a shopping arcade with well-equipped facilities.
349
The arcade features fashion brand names such as Chanel, Burber-
ry, Salvatore Ferragamo, Cartier, Polo, Ralph Lauren, Rolex, Bally,
Tumi and Ermenegildo Zegna.
With the new shopping arcade and the current shopping area on Le
Thanh Ton Street, the Rex is not only one of the leading hotels in
the country but also a shopping mall where customers will catch
up the latest world fashion trends.
Salvatore Ferragamo and Vertu debute at Rex Arcade
Salvatore Ferragamo opened a 200 square metre store in Ho Chi
Minh Citys Rex Arcade, where in November 2011 Vertu also opened
its fourth store in Vietnam and second in Ho Chi Minh City, in a 127
square metre space.
Jimmy Choo, Karen Millen, Benetton, and Gap debut at
Vincom Centre
In October 2010, Jimmy Choo opened a 140 square metre bou-
tique at Ho Chi Minh Citys Vincom Centre, in cooperation with the
retailers franchise partner, Vietnam-based Maison Co.
The British womens fashion retailer Karen Millen opened its frst
store in Vietnam in November 2010, at Vincom Centre.
In October 2011, the Italian clothing retailer Benetton opened an
around 200 square metre store at Vincom Centre.
Gap opened its frst Ho Chi Minh City store at Vincom Centre in Oc-
tober 2011, and plans to open two additional stores at Crescent
Mall in November and Diamond Plaza in December, with outlets in
Hanoi to follow in 2012.
Adidas debuts in Bitexco Building
Adidas opened its largest Vietnamese store to date (256 square me-
tres) on the ground foor of the Bitexco Building in Ho Chi Minh City.
Rex Hotel, Ho Chi Minh City
Vincom Center, Saigon
350
Crescent Mall Rendering, HCMC
Tan Son Nhat International Airport, HCMC
351
75
Bangkok,
Shopping malls are shopaholics paradise
.
BANGKOK has been the capital city of Thailand since 1782. Bang-
kok is by far the most densely populated city in Thailand with
about 12 million people. The capital is a center of the Megalopolis
of 20 million people.
Ratchaprasong is at the forefront of Bangkoks shopping scene.
The newly renovated Central World Plaza intends to serve as a
square to Bangkokians. Just up the street is Siam Square, simi-
lar to Shinjuku in Tokyo and Oxford Street and Piccadilly Circus in
London. The Sukhumvit area also serves as a shopping district for
foreigners.
Bangkoks shopping malls are shopaholics paradise
Bangkoks modern, multi-storey shopping malls are a shopaholics
paradise. From the legendary MBK to the sophisticated Emporium,
trendy Siam Discovery and Central World Plaza, or unashamedly
upscale Siam Paragon, Bangkoks shopping malls accommodate
every taste, pocket and style. The latest addition to the citys mall-
scape are the innovative Terminal 21 and Central Plaza Rama 9.
Central World is the third largest shopping centre in
the World
Central World is a shopping plaza and complex in Patumwan,
Bangkok. It is the third largest shopping complex in the world and
got about 150,000 visitors per day. The complex, which includes a
hotel and offce tower, is owned by Central Pattana. In 2006, after
three years of design and renovation, the Central World expanded
to 550,000 square metres of retail space. The Central World is now
offcially the largest lifestyle shopping complex in Southeast Asia.
Uniqlo is unstoppable
Uniqlo, the Japanese version of H&M, opened its frst fagship
store in Thailand, in September 2011. The new store had a size of 2
700 square metres and is located on the third foor of the Central
World shopping centre.
Siam Paragon: Bangkoks second largest mall
Siam Paragon is located on the former Siam Intercontinental Ho-
tel site, which is owned by Crown Property Bureau and was at one
time the site of a royal park for the nearby Sra Pathum Palace.
Siam Paragon opened in 2005 after three years of construction at
a cost of 370 million euro, and a gala party was held to mark the
occasion. Siam Paragon is regarded as one of Bangkoks most ex-
clusive shopping malls, along with Emporium on Sukhumvit Road.
The mall is managed by a joint venture comprising The Mall Group
(which also manages Emporium Centre) and Bangkok Interconti-
nental Hotels Co. (Thailand).
Bangkok Skyline
MBK Shopping Center, Bangkok
Siam Paragon, Bangkok
352
Central World Bangkok
Uniqlo Opening Central World, Bangkok
353
Siam Paragon, Bangkok
Ferrari Presentation, Siam Paragon Bangkok
Terminal 21 Shopping Center, Bangkok
The 500,000 square metre Siam Paragon mall hosts myriad stores
and boutiques, plus the 50,000 square metre Siam Paragon De-
partment Store. Virtually every luxury retailer from the four corners
of the globe has an outlet here. Some of the shops in Siam Paragon
include Gucci, Chanel, Balenciaga, Valentino, Kenzo, Herms, Bot-
tega Veneta, Giorgio Armani, Jimmy Choo, Chlo, Dolce & Gabbana,
Burberry, Salvatore Ferragamo, Cartier, Bally, Fendi, Zara, MNG,
Versace, Louis Vuitton, Givenchy, Marc Jacobs, Emporio Armani,
Hugo Boss, Prada, Ermenegildo Zegna, Swarovski, Coach, Shanghai
Tang, Jim Thompson, Tods, Mulberry, Kenzo, Escada, Emilio Pucci,
Canali, Bulgari, Paul Smith and many other upmarket brands.
Luxury cars in Siam Paragon
The car showrooms in Siam Paragon include Lamborghini, Lotus,
Aston Martin, Bentley, Porsche, Jaguar, Spyker, Maserati, BMW,
Hummer and MTM.
Siam Paragon is on Rama I Road in the Pathum Wan district, and is
next door to Siam Center and Siam Discovery Center and opposite
Siam Square. MBK Center is also nearby. An elevated walkway be-
neath the BTS Skytrain tracks links Siam Paragon to the Ratchap-
rasong intersection, where Central World, Gaysorn and several
other shopping malls and hotels are located.
Central Plaza, Bangkok
354
Terminal 21 with longest escalator in Thailand
Terminal 21 is a new shopping mall in Bangkok, and directly con-
nected to the Asok BTS station and Sukhumvit MRT station. The
mall is located on Sukhumvit Road Watthana and opened in Oc-
tober 2011.
Terminal 21 gives visitors the opportunity to visit several desti-
nations in the world in just one day. Every foor in this megamall
has its own theme. You can visit cities and sites such as London,
Paris, Rome, San Francisco, Istanbul, Tokyo, the Caribbean and
Hollywood. There are many famous retailers with stores in the new
shopping mall such as Adidas, Camel Active, Promod, Puma, Guess
Accessoires, Levis, Nike, Esprit, The Body Shop, Starbucks, Roxy &
Quiksilver, Pronto and KipLing.
The total retail foor area is 55,000 square metres, with 9 foors, 665
stores and the longest escalators in Thailand, up to 36 metres.
Emporium Shopping Center, Bangkok
Lamborghini Store Emporium, Bangkok
355
Central Plaza Grand Rama 9 opened on 214,000 square
metres
The Central Plaza Grand Rama 9 located in the corner of Ratchad-
aphisek Road is a lifestyle entertainment shopping centre which
opened in December 2011. The retail space area is over 214,000
square metres, with 11 foors and more than 300 shops, restau-
rants, world-class cinemas and a large number of restaurants. The
Central Plaza targets to draw more than 120,000 visitors daily. In
January 2012, the latest opening was the one from American re-
tailer Gap.
Emporium Bangkok for all fashion lovers
The Emporium Bangkok is like a glossy magazine. The 7-foor
centre has opened in the year 1997. Exclusive world-class brands
like Fendi, Chanel, Louis Vuitton, Herms, Montblanc and Salvato-
re Ferragamo dominate the ground foor and jewellery brands like
Cartier the frst foor.
IKEA vs SB Design Square
IKEA opened its frst furniture market in Thailand on 3th Novem-
ber 2011, at the Bangna-Trad Road in Samutprakarn. The 40,000
square metre market will be a stand-alone part of the Mega Bang-
na shopping center and will have capacity to hold around 8,500
articles.
Thailands leading manufacturer and distributor SB Design Square
offers design furnitures and opened only a few weeks after IKEAs
store in November 2011. Both are located close to each other along
the Bangna Express Way.
Tesco expanding to Bangkok
The British supermarket chain Tesco is the UKs largest retail chain
and the worlds fourth largest after Wal-Mart (USA), Carrefour
(France), and Metro (Germany). In July 2011, Tesco opened its frst
store in Bangkok in a 3,000 square metre space on Rama IV Road,
at a cost of USD10 million.
Coccinelles frst mono-brand store in Bangkok
The Italian fashion retailer Coccinelle opened its frst mono-brand
store in Bangkok at Emporium Shopping Complex, thus bringing to
80 the number of Coccinelle boutiques worldwide.
First offcial BlackBerry Store in Asia
Asias frst BlackBerry Lifestyle store has opened on 140 square
metres in Thailands Siam Paragon shopping centre. The 140 square
metre store has opened on the 29th September, 2011, and will not
only display and sell all BlackBerry phones models but should also
provide product consultations and services like in Apple stores.
Gayson Mall, Bangkok
IKEA Bangkok
Camper opens at Emporium mall
In October 2011, the Spanish fashion running shoe company Cam-
per opened a new store at Bangkoks Emporium Mall. The store
carries mens, womens and childrens running shoes.
Roger Dubois debuts in Asia
The Swiss watch and jewellery company Roger Dubois opened
its frst Asian store at Bangkoks Gaysorn shopping mall. The 150
square metre store is decorated in red, gold and black.
Nine West opened at Central Plaza Laprao
Nine West, one of Americas most popular footwear and fashion
labels, celebrated its grand opening in August 2011. The new Nine
West shop presents a new luxurious look for all fashion lovers in
Thailand. The 116 square metre retail space is located on the frst
foor of the Central Plaza Laprao.
356
76
Kuala Lumpur Starhill Gallery listed as Asias
most beautiful shopping mall
.
KUALA LUMPUR is Malaysias capital city. The city proper, making
up an area of 243 square kilometres, has a population of 1,4 million
as of 2010. Greater Kuala Lumpur, also known as the Klang Valley,
is an urban agglomeration of 7,2 million. It is the fastest growing
metropolitan region in the country, in terms of population and eco-
nomy.
Kuala Lumpur alone has 66 shopping malls and it is the retail and
fashion hub for Malaysia. Shopping in Malaysia contributed RM 7,7
billion (US$ 2,26 billion) or 20,8 % of the total tourism receipts in
2006. Kuala Lumpur plays a big role in attracting consumers.
Suria KLCC is one of Malaysias premier shopping destinations
due to its location beneath the Petronas Twin Towers. Apart from
Suria KLCC, Bukit Bintang district has the highest concentration of
shopping malls in Kuala Lumpur. It houses various cafes, alfresco
dining outlets and retail malls. The Bangsar district also has a few
shopping complexes, including Bangsar Village, Bangsar Shopping
Centre, Mid Valley Megamall and The Gardens. The Damansara
subdivision north-west of Kuala Lumpur, though not in the city-
proper, is the home of the only IKEA outlet in the country, and a
cluster of locally operated malls like The Curve, Ikano Power
Centre and One Utama.
Kuala Lumpur Skyline
Starhill Gallery Mall, Kuala Lumpur
357
Starhill Gallery listed as one of Asias most beautiful shop-
ping malls
Kuala Lumpurs Starhill Gallery is listed as one of Asias most
beautiful shopping malls. It is an upscale, luxury retail mall loca-
ted in Kuala Lumpurs famed Bukit Bintang district.
Seven luxurious foors offer quality, privacy and exclusivity crafted
for those who seek experiences out of the ordinary. International
icons of luxury and the worlds premier retailers are here, inclu-
ding some of the worlds rarely seen stand-alone luxury watch
boutiques.
Sephora in Starhill Gallery now open
French beauty retailer, Sephora, offcially launched its debut fag-
ship store in Kuala Lumpur, at the prestigious newly refurbished
Starhill Gallery along Bukit Bintang Walk, in May 2011.
The store marks the frst in Asia and is the third fagship store, af-
ter New York and Paris, which attract millions of footfalls similarly.
The Sephora store is a key element in the rejuvenation of Starhill
Gallerys facade designed by Stephen Pimbley. Covering close to
900 square metres in size, the fagship store consists of two-levels
that carry the worlds leading beauty and make-up brands, such as
Clinique, Dior, Este Lauder, and Lancme.
Starhill Gallery, Kuala Lumpur
Sephora Starhill Gallery, Kuala Lumpur
358
Herms opened at Starhill Callery
The French luxury brand Herms has opened a bou-
tique in Kuala Lumpur dedicated to its watch collec-
tions. The 86 square metre boutique opened in Ja-
nuary 2012, and is also located at Starhill Gallery on
the same foor like, Versace, Tods, YSL, and Gucci.
Biggest Leica fagship store now opened in
Kuala Lumpur
In August 2011, Leica Camera AG opened its worlds
biggest fagship store in Kuala Lumpur, located
at Avenue K Mall. The new shop spreads on 1,500
square metres and is the 52nd Leica store worldwi-
de.
Pavilion Kuala Lumpur Shopping Mall is situated
along the Bukit Bintang district in Kuala Lumpur,
Malaysia. This place was built on the site where for-
mer Bukit Bintang Girls School, the oldest school in
Kuala Lumpur, has been moved to Cheras as Sekolah
Seri Bintang Utara in 2000. The mall has opened in
2007. It consists of four major components: a retail
mall, an offce tower, two residential elements and
a proposed hotel.
Herms Starhill Gallery, Kuala Lumpur
Leica Flagship Store Avenue K Mall, Kuala Lumpur
359
Braun Bffel has opened a Store at Kuala Lumpurs Inter-
national Airport
German leathergoods company Braun Bffel has opened a fag-
ship boutique in the departure/transit hall at Kuala Lumpur Inter-
national Airport (KLIA) Satellite Building. The store has a 76 square
metre retail space and is located in between Gates C31-C37.
With its signature minimalist dcor, the boutique seeks to appeal
to time-strapped travellers with its three-way entrance fanked by
polished marble columns. Its clean lines and use of mirror fnish
stainless steel, the beige and cream interior, and the light pinkish-
beige toned wood and warm lights were designed to create an af-
fable and inviting retail environment.
A plush Braun Bffel cowhide leather couch forms the centrepiece
of the space. The store has been designed to segment the space
and offer private corners by the use of varying height cabinets and
display cases. Items will be grouped in different areas of the store
by class.
Karen Millen and Michael Kors opened at the Pavilion
Kuala Lumpur Shopping Mall
In December 2010, the famous womens fashion designer Karen
Millen opened its fagship store in the Pavilion Kuala Lumpur
Shopping Mall.
The American fashion designer Michael Kors also opened his frst
stand-alone store at the Pavilion Kuala Lumpur Shopping Mall in
November 2011.
Uniqlo fast tracks Expansion in Malaysia
Japans No.1 fashion brand and worldwide leader in casual wear,
has opened its second store in Kuala Lumpur in May 2011 at the
most iconic landmark in the city centre, Suria KLCC. The new store,
with a foor space of 707 square metres, offers over 300 items of
stylish, high quality and affordable clothing.
New Balance new at Fahrenheit88
New Balance, one of the worlds leading running brands, and Rock-
port, the global leader in mens and womens footwear, have of-
fcially launched their concept fagship stores in the heart of KL
city at Fahrenheit88.
Pavillion Mall, Kuala Lumpur
Fahrenheit 88 Shopping Center, Kuala Lumpur Braun Bffel International Airport, Kuala Lumpur
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77
Singapore, Louis Vuitton opened the chains
largest store on the water
.
The island and city-state of SINGAPORE is Asias smallest nation.
Government statistics put Singapores population at 4,8 million.
Marina Bay Sands is a resort comprising a casino and hotel on
Singapores Marina Bay. The resort which was built by Las Vegas
Sands hotel, opened in 2010 and comprises a 55-storey tower is
regarded as the worlds most expensive stand-alone casino. The
land alone is said to have cost around 4.6 billion euro.
The Shoppes at Marina Bay Sands also boasts close to 93,000
square metres of retail space with over 300 stores, including nu-
merous luxury duplexes for boutiques such as Ralph Lauren, Cha-
nel, Cartier and Prada. Other luxury stores include Gucci, Herms,
Emporio Armani, Chopard, Burberry, Red Valentino, Dior, Dunhill,
Vertu, Miu Miu, Yves Saint Laurent, Salvatore Ferragamo, Mont-
blanc, Blancpain, a Herms Watch Boutique, and Herve Leger.
A canal runs through the length of the Shoppes, in the same style
as the Venetian in Las Vegas. Also housed within the Shoppes are
the six of the seven Celebrity Chef Restaurants Cut (by Wolfgang
Puck), Waku Ghin (by Tetsuya Wakuda), Pizzeria and Osteria Mozza
(by Mario Batali), Guy Savoy (by Guy Savoy), DB Bistro Moderne (by
Daniel Boulud), Santi (by Santi Santamaria) and Rasapura Masters
(by Koufu).
Singapur Skyline
Marina Bay Sands, Singapur
361
Louis Vuitton Maison opens the chains largest store on
the water in Singapore
In mid-September 2011, Louis Vuitton Maison opened its frst is-
land store at Singapores Marina Bay Sands. The store, which is on
the water side of Marina Bay Promenade, is a calling card in the
renowned landscape surrounding the bay. The glass building was
the highlight of 2011 for Louis Vuitton. The second Pavilion house
the worlds largest Louis Vuitton boutique, at around 20,000 square
feet (1,900 square metres).
Porsche Design debuts in Asia
In July 2011, Porsche Design moved into a 160 square metre space
in the Marina Bay Sands mall. This is the companys debut Asian
store.
Marina Bay Sands Mall, Singapur
Marina Bay Sands, Singapur
362
Orchard Road is Singapores retail and
entertainment hub
Orchard Road is a one-way street. It starts at
the junction with Orange Grove Road which
is the location of the Orchard Hotel. It then
stretches southeast across the Scotts Road/
Paterson Hill junction and ends at the junc-
tion with Handy Road.
Abercrombie & Fitch in Singapore now
open
The opening of Abercrombie & Fitch in Singa-
pore historically marks exactly the two years
anniversary of the opening of the frst A&F in
Asia. Tokyos towering A&F Ginza was heral-
ded by the Japanese news media upon open-
ing as a spectacle of consumerism.
This fagship may be the third in Asia, but its
more specifcally the frst in Southeast Asia.
Abercrombies fagship is located on Orchard
Road the citys major retail thoroughfare
within the opulent Knightsbridge retail com-
plex. The fagship store offers 1,900 square
metres of retail space. Mens styles take over
the groundfoor while womens fashions are
housed in the upper levels.
Louis Vuitton Maison Marina Bay Sands, Singapur
ION Orchard Shopping Center, Singapur
363
Other new retail arrivals in the heart of Singapore
In 2011, the US clothing chain Aeropostale opened its frst store in
Singapore, in a 2,000 square metre space on Orchard Road, where
H&M opened a 2,800 square metre three-level store the retailers
frst one in Singapore.
Ion Orchard: A luxury mall on Orchard Road
ION Orchard has become the centre of gravity in the retail scene,
with spectacular frontage and cutting edge designs and concepts.
It brings together the worlds most popular brands for their fag-
ship, concept and lifestyle stores within one development, with
over eight levels of intelligently designed shopping space four
levels above ground and four levels below totalling 66 000 square
metres of retail space, over 300 retail, F&B and entertainment
stores, at the prime site of Singapores commercial and shopping
artery.
The Italian watch manufacturer Panerai will be opening a store at
the upscale Ion Orchard shopping mall in 2012.
Michael Kors to open 200 new outlets
Michael Kors opened its frst Singapore store in Scotts Square in a
150 square metre space. The retailer plans to open up to 200 stores
worldwide in the coming years.
Abercrombie & Fitch Opening Singapur H&M Orchard Road, Singapur
Scotts Square Shopping Center, Singapur
364
78
Jakarta, 12 malls bigger than 100,000
square metres total space
.
JAKARTA is the capital and largest city of Indonesia. Offcially
known as the Special Capital Territory of Jakarta, it is located on
the northwest coast of Java, has an area of 661 square kilometres
and a population of 9,6 million. It is the most populous city in Indo-
nesia and in Southeast Asia. Jakarta is the thirteenth-largest city
in the world. The urban area, Jabodetabek, is the second largest in
the world.
Twelve malls with more than 100,000 square metres
of total space
Jakarta is sprawling with numerous malls, shopping centers and
traditional markets. At the end of mid 2011, there were 68 malls
and trade centres across Jakarta and the Governor planned to sus-
pend permits for new commercial centres with footprints bigger
than 5,000 square metres until 2012. Jakarta shopping malls with
a total size of more than 100,000 square metres of gross space in-
clude Grand Indonesia, Pacifc Place Jakarta, Plaza Indonesia and
Plaza eX, Senayan City, Plaza Senayan, Pasaraya, Pondok Indah
Mall, Mal Taman Anggrek, Mal Kelapa Gading, Mal Artha Gading,
and Mall of Indonesia.
New openings in Plaza Indonesia Shopping Center
Still leading as one of the fnest shopping centres in the country,
the Plaza Indonesia Shopping Center was previously occupied
by Indonesias frst Sogo fagship department store as well as nu-
merous international fashion labels and jewelries including Gucci,
Versace, Louis Vuitton, Balenciaga, Bally, Bulgari, Christian Dior,
Christian Louboutin, Emporio Armani, Fendi, Giorgio Armani, Er-
menegildo Zegna, Givenchy, Marc Jacobs, Jimmy Choo, Jean Paul
Gaultier, Alberta Ferretti, Lanvin, Cartier, Max Mara, Montblanc,
Red Valentino, Prada, Valentino, Aigner and Zaras Indonesia fag-
ship store.
Balenciaga and Givenchy fnally opened frst Indonesian
store in Plaza Indonesia
Jakarta fnally enjoys the opening of the long awaited Balenciaga,
the high-end luxury brand and one of the oldest and most famous
luxury brands in fashion. The boutique carries womens ready-to-
wear, jewelry, leather goods, and accessories, plus the brands po-
pular handbags. The French brand Balenciaga is situated between
Ermenegildo Zegna and Edidi New York on the frst level in the Pla-
za Indonesia Center.
Skyline Jakarta
365
Givenchy was pleased to announce that the French luxury brand
opened in Plaza Indonesia Shopping Centre in Spring/Summer
2011 Ready-to-Wear and Accessory collections .
Calvin Klein takes over Armani Exchange store
The US fashion retailer Calvin Klein relocated to the space former-
ly leased by the Armani Exchange store as this location was larger
than the stores original venue.
Etro will open its second store at Plaza Indonesia
Italian luxury fashion retailer Etro will open its second store in Ja-
karta in February 2012. The Label will take over the space of Calvin
Klein at Plaza Indonesia, which is located in the ground foor of the
mall, next to Marc by Marc Jacobs. The new Etro store will feature
womens and mens collections of ready-to-wear, bags, footwear
and accessories. This is the second Etro store in Jakarta, the frst
was opened at Pacifc Place Mall in 2008.
Mall of Indonesia, Jakarta
366
Fred Perry opened frst store in Indonesia
In December 2011, Fred Perry opened its very frst Indonesia fag-
ship store within the Plaza Indonesia. The store follows the suc-
cessful modern-classic design and carries the full collection in-
cluding the iconic tipped Polo shirts, shoes, bags and accessoires.
Juicy Couture with Indonesia debut
California-based fashion-phenomenon Juicy Couture opens its
frst stand-alone store at Plaza Indonesia, the heart of the luxury
shopping district in Jakarta. With a footprint of 2,510 square feet,
the store has been designed as a single informal space with most
of the merchandise located on the walls.
Bally opens in Plaza Indonesia
In April 2011, the Swiss shoe retailer Bally opened a new store at
Jakartas Plaza Indonesia mall in a 160 square metre space on the
second level. The store will carry only a part of the Bally collec-
tion.
Tods and Fendi with new stores in Senayan City
Tods opened its third and largest retail location in Jakarta in the
shopping centre Senayan City on the groundfoor between Yves
Saint Laurent and Francesco Biasia.
Fendi will take over the shops of Prada and Tods in Plaza Senayan
to open their new store in June 2012.
BCBG Max Azria opened in Senayan City
Following the success of the frst boutique in Senayan City, BCBG
Max Azria opened one more boutique in Jakarta, at the popular
Plaza Indonesia. The new fagship store opened in October 2011
right beside the Herms Saint-Louis, and it will carry the complete
collection of womens apparel and accessories.
Burger King wants to expand in Indonesia
The American fast-food restaurant Burger King aims to open
more stores to expand its presence in Indonesia. Currently, Burger
King operates about 30 stores in Indonesia after about four years
of operation. The company is planning to introduce 10 to 15 new
stores in 2012.
Plaza Indonesia, Jakarta
Plaza Indonesia, Jakarta
Plaza Indonesia mall, Jakarta
367
Senayan City shopping center, Jakarta
368
Macau also spelled Macao, along with Hong Kong, is one of the two
special administrative regions of the Peoples Republic of China. It
lies on the western side of the Pearl River Delta, bordering Guang-
dong province to the north and facing the South China Sea to the
east and south. The territorys economy is heavily dependent on
gambling and tourism, but also includes manufacturing.

Macau was a Portuguese colony in 1887, and is both the frst and
last European colony in China. Portuguese traders frst settled in
Macau in the 16th century and subsequently administered the re-
gion until the handover on 20 December 1999. The Sino-Portuguese
Joint Declaration and the Basic Law of Macau stipulate that Ma-
cau operates with a high degree of autonomy until at least 2049,
ffty years after the transfer.
According to a recent survey conducted by the U.S. Central Intel-
ligence Agency (CIA), Macau is the top country/region for life ex-
pectancy at birth with an average of 84,36 years, while its infant
mortality rate ranks among the lowest in the world.
79
Macau, Wynn Macau with best expamples for
haute couture
.
Macau Skyline
Mgm Grand Macau
369
One Central both the hustle and bustle
of the tourism epicenter in the Macau
Peninsula
Commanding the best location in Macau, One
Central embraces both the hustle and bustle of
the tourism epicenter in the Macau Peninsula, as
well as the tranquility and unparalleled views of
the outer harbor and lakes.

The prestigious 200,000 square foot complex
features a sterling lineup of the worlds leading
luxury brands, engaging shoppers with one of
their largest fagship stores in Asia, their frst
outlet in Macau, or their primary establishment
in the enclave. With its direct linkage with Mgm
Macau, One Central is poised to become the new
center of gravity with its superb retail offerings,
facility and happenings.

Macau Square
One Central Macau
370
Venetian, Macau
Four Seasons, Macau
Wynn Macau with the fnest examples of haute
couture
Wynn Macau boasts a lavish shopping esplanade with the
fnest examples of haute couture. The list of shops inclu-
des Chanel, Bulgari, Christian Dior, Fendi, Giorgio Armani,
Louis Vuitton, Piaget, Prada and Tiffany, each bringing with
its newest products to an eager crowd. Located in Rua
Cidade de Sintra, the shops in the Wynn are some of the
most popular in the world.

Macau Square is one of the citys large shopping
malls
Like Sun Star City and New Yaohan, Macau Square is one
of the citys large shopping malls, located in Rua do Doc-
tor Pedro. The three-story shopping mall houses outlets of
various international fashion brands and products. Also
unique to Macau Square are various business start-up
programs that are offered.

Four Seasons is redefning shopping in Macao
The Shoppes at Four Seasons, a remarkable luxury mall
that is beyond compare, is redefning shopping in Macao.
371
The Shoppes at Four Seasons is Macaos frst luxury mall. Armani,
Dior, Brioni, Louis Vuitton, Hermes are only some of the Designer
you can fnd. Home to more than 160 luxury and designer brands,
the mall located at Cotai Strip is a feast for the eyes.

Venetian is modeled on its sister casino resort,
The Venetian in Las Vegas
The Venetian Macao is a hotel and casino resort in Macau owned
by the Las Vegas Sands Corporation. It is a 40-story, $2,4 billion
anchor for the 7 hotels on the Cotai Strip in Macau. The 980,000
square meters Venetian Macao is modeled on its sister casino re-
sort, The Venetian in Las Vegas, and is the largest single structure
hotel building in Asia, The sixth-largest building in the world by
area and the largest casino in the world, It is also home to the se-
cond largest Venice in the world, the frst being the city of Venice,
Italy and the third being The Venetian in Las Vegas, Nevada. The
Shopping area shows Chevignon, Chopard, Frank Muller, Guess,
Hogan, Boss and many other international Labels.
Macao
372
80
Hong Kong, Abercrombie & Fitch wins central
district space for the brands Hong Kong debut
.
HONG KONG is a metropolis and a special administrative zone that
is located on the southern coast of China. The citys Central dis-
trict in the northern part of the island of Hong Kong is its fnancial
and business district. The most densely populated district and the
citys cultural centre is Kowloon peninsula to the south of the New
Territories region. Hong Kong, which is spread across a peninsu-
la and 262 islands at the mouth of the Pearl River, was a British
crown colony until 30 June 1997 and was by treaty returned to Chi-
na on 1 July 1997.
Hong Kong is Chinas third most populous metropolitan region, and
greater Hong Kong, with 16 000 inhabitants per square kilometre,
is the worlds most densely populated area after Monaco alt-
hough the population density of Hong Kong as a whole is only 6,700
inhabitants per square kilometre. Hong Kongs population has inc-
reased by a factor of 12 over the past six decades, from 600,000 in
1945 to 7 million in 2005.
Burberry opens 17th boutique in Silvercord mall in Hong
Kongs Tsim Sha Tsui district
In November 2011, Burberry opened its 17th Hong Kong store in
a 500 square metre space at the ritzy Silvercord mall on Canton
Road the Tsim Sha Tsui district. This is also Hong Kongs frst
street-level store with LED screen walls on its exterior facade.
The French designer-shoe retailer Roger Vivier opened a new shoe
outlet in Kowloons Harbour City in November 2011, which is Hong
Kongs largest shopping mall. The 85 square metre store is the
companys second in Hong Kong.
The jewellery retailer Harry Winston, which is owned by the Wat-
ches Group and DKHS, opened a new store on 9 November 2011 at
Hong Kongs Austin Road West 1.
Hong Kong Panorama
373
Harbor City Mall, Hong Kong
Hollister debuts in Asia
Hollister opened its frst Asian store in August 2011 in a 930 square
metre space at Kowloons Festival Walk mall on Tat Chee Avenue.
Abercrombie & Fitch wins central district space for the
brands Hong Kong debut
The retail market in Hong Kong continues to boom, and since space
is a precious commodity in the notoriously jam-packed city, a real
estate battle recently broke out between Hong Kongs very own
Shanghai Tang and the American casualwear brand Abercrombie &
Fitch. After the dust settled, Abercrombie & Fitch emerged victori-
ous, though rent for the location smack dab in the middle of the
citys Central district rose by 250 %, to 7 million HK-Dollar (USD
900,000) per month.
The current tenant Shanghai Tangs lease expired and the ow-
ners, the Fok family, opened the property to bidding in Spring
2011 immediately gaining several brand inquiries. In March 2011
two brands entered a fnal bidding stage, with the American brand
Abercrombie & Fitch and a French label owned by the Swiss luxury
Richemont Group, which also owns Shanghai Tang, entering into
a bidding war. Previously, the Richemont Group was thought to be
the favorite, due to the many years Shanghai Tang leased the pre-
mises, but A&F offered more than its competitor, who, in the end,
had to give way.
374
Gucci & Louis Vuitton Canton Road, Hong Kong
Pedder Building, Central Hong Kong
375
Unlike any other space in the Central district A&Fs determina-
tion to win its bidding war pushed the monthly rent to 7 million
HK-Dollar, about 2,5 times higher than the current monthly rent
of about 2 million HK-Dollar. The site includes a 585 square metre
ground foor and a 595 square metre basement, for a total of 1 180
square metres.
Gap expansion into China continues apace
In late November 2011, the US retailer Gap opened a four-level 1
389 square metre store in the LHT Tower on Queens Road. Gap
also opened a 7,000 square metre store at Hysan Place. In the in-
terest of achieving its goal of expanding its store feet in China in
record time, Gap plans to shutter up to 190 of its US stores so that
it can focus on its Chinese expansion programme. Gap is aiming to
open 30 stores in China by the end of 2012.
Burberry comes to Queensway
Burberry will be opening a new fagship store on Hong Kongs
Queensway during the latter half of 2012. The new store, which
rents for around US$ 230,000 a month, will have 1 950 square me-
tres of foor space spread across two levels. Next door to the future
Burberry store, on 18 October 2011, Harvey Nichols (and its local
franchisee Dickson Concepts) moved in to a 7,700 square metre
space in which an estimated US$ 19 million was invested.
A new Burberry fagship store coming to Causeway Bay
Burberry will be taking over Nokias 483 square metre split-level
Festival Walk Mall, Hong Kong
space on Causeway Bays Russell Street, where the rent will be
US$ 836,000 a month.
Forever 21 comes to Causeway Bay
In 2012, the US fashion chain Forever 21 will be opening a six-level
4,738 square metre store in Causeway Bay, the companys frst in
this area. The rent will be US$ 300 per square metre.
Elie Saab expanding worldwide
In January 2012, the Lebanese retailer Elie Saab will be opening
its frst Asian store in a 65 square metre space at Landmark Mall,
where retailers such as Dior, Dolce & Gabbana, Gucci, Miu Miu,
Ralph Lauren, and Tiffany also have outlets. The company plans to
open ten additional stores by the end of 2012 in markets such as
Saudi Arabia, Russia, Turkey, the US, London, Dubai, and Beirut.
Solange Azagury-Partridge debuts in Hong Kong
In December 2011, Solange Azagury-Partridge (part of the Labelux
Group) opened its frst Hong Kong boutique on the third level of IFC
Mall in the citys Central district.
Solange Azagury-Partridge is famous for her HotLips ring and that
geometric Art Deco-ish necklace Sarah Jessica Parker as Carrie
Bradshaw was wearing in the opening scene of the second install-
ment of the Sex And The City movie.
376
Gap Queens Road, Hong Kong
Louis Vuitton Landmark, Hong Kong
377
Causeway Bay Hong Kong
Elie Saab Landmark Hall, Hong Kong Solange Azagury-Partridge IFC Mall, Hong Kong
378
81
Taipei, Luxury brands to expand in Taiwan
.
TAIPEI CITY is the capital of the Republic of China (ROC, commonly
known as Taiwan) and the central city of the largest metropolitan
area of Taiwan island. The city proper (Taipei City) is home to an
estimated 2,6 million people. Taipei, New Taipei, and Keelung to-
gether form the Taipei metropolitan area with a population of 6,9
million. Taipei sometimes refers to the whole metropolitan area,
while Taipei City refers to the city proper. Taipei City proper is sur-
rounded on all sides by New Taipei.
Taipei is known for its many night markets, the most famous of
which is the Shilin Night Market in the Shilin District. The surroun-
ding streets of Shilin Night Market are extremely crowded during
the evening, usually opening late afternoon and operating well
past midnight. Most night markets feature individual stalls selling
a mixture of food, clothing, and consumer goods.
Ximending has been a famous area for shopping and entertain-
ment since the 1930s. Historic structures include a concert hall, a
historic cinema, and the Red House Theater. The pedestrian area is
especially popular with teens and has been called the Harajuku
of Taipei.
The newly developed Xinyi District is popular with tourists and lo-
cals alike for its many entertainment and shopping venues, as well
as being the home of Taipei 101, a prime tourist attraction famous
for being one of the worlds tallest buildings. Malls in the area
include the sprawling Shin Kong Mitsukoshi complex, Taipei 101
mall, Eslite Bookstores fagship store (which includes a boutique
mall), The Living Mall and the New York shopping mall. The Xinyi
district also serves as the center of Taipeis active nightlife, with
several popular nightclubs concentrated in a relatively small area
around the Neo19 and Taipei 101 buildings.
The thriving shopping area around Taipei Main Station includes the
Taipei Underground Market and the original Shin Kong Mitsukoshi
department store at Shin Kong Life Tower.
Luxury brands to expand in Taiwan
Upscale jewellery houses and luxury watch brands are gearing up
for expansion in Taiwan in 2012 CENS.com reported.
According to the report, Swiss luxury goods group Richemont has
hired additional staff in the second half of the year in keeping with
its expansion plans in Taiwan. Richemonts portfolio of brands in-
cludes Cartier, Vacheron Constantin, Jaeger-Le Coultre, Piaget and
Montblanc.
Strong demand in Asia-Pacifc and the Americas lifted Richemonts
proft for the six months ending on 30th September 2011, with
sales surging 10 % to US$ 944,8 million. According to the compa-
ny, growth in the Asia-Pacifc region was primarily driven by China,
Taipei Skyline
Ximending Teipei Shin Kong Mitsukoshi Taipei
379
which is now Richemonts third-largest market after Hong Kong
and the US. Louis Vuitton, Dior, Bulgari and Prada will also be ope-
ning boutiques in Taiwans posh Taipei 101 shopping mall, CENS.
com added.
Lamborghini Opens Taiwans First Fashion Store in
Taipei
Lamborghini opened its frst fashion store in Taipei in October 2011
in the exclusive boutique at Bellavista shopping center. This bou-
tique is dedicated exclusively to the Collezione Automobili Lam-
borghini fashion collection.
The Taiwan premiere for Automobili Lamborghinis boutique adds
to its core markets, for the companys fashion brand alongside the
USA, Europe and Asia.
Leica store premiere opening in Tapei
The Leica store grand opening event was held in January 2011. The
frst Leica store in Taiwan is located in the premium and luxury
shopping mall Bellavita.
Zara comes to Taipei
Zara which was founded by Inditex opened its frst Taipei store
in November 2011 in a new 2,314 square metre space at Tapeis
Landmark Building 101.
Uniqlo opens sixth fagship store worldwide
Uniqlos new fagship store is in Taipeis Ming Yao Department Store
on Zhongxiao E Road, in a three-level 3,630 square metre space.
The retailer plans to open 30 stores a year in Taiwan in pursuit of
their ultimate goal of having a 100-outlet feet in Taiwan.
Bellavista Shopping Center, Taipei
Leica Bellavista, Taipei
380
82
Manila, Uniqlo Japans leader of casual
clothes is coming to Manila
.
MANILA is the capital of the Philippines. It is one of the sixteen ci-
ties forming Metro Manila, which is located on the eastern shores
of Manila Bay and is fanked by Navotas and Caloocan to the north,
Quezon City to the northeast, San Juan and Mandaluyong to the
east, Makati on the southeast, and Pasay to the south.
Manila has a total population of more than 1,7 million and is the
second most populous city in the Philippines, behind its neighbour,
Quezon City. The populace inhabit an area of only 38,55 square ki-
lometres, making Manila the most densely populated city in the
world. Metro Manila is the most populous metropolitan area in the
Philippines and the 11th in the world with an estimated popula-
tion of 16,3 million. The greater urban area is the ffth-largest in
the world and has an estimated metropolitan population of 20,7
million people.
Manila Skyline
Louis Vuitton Greenbelt, Manila
381
Re-opening of Louis Vuitton Store
Louis Vuitton proudly announced the re-opening of its store at
Greenbelt Shopping Mall in October 2011. The newly expanded
store, which underwent a 15-month renovation, doubled the sel-
ling space from 175 square metres to 402 square metres and now
includes a private salon for top clients, a feature included only in
select boutiques. The Philippines is among the Top 30 markets of
Louis Vuitton.
The store frst opened in 2003 on Makati Avenue. Louis Vuitton has
always been one of the most popular anchor brands of the premier
shopping arcade in Makati. The new store was transformed into
a two-level luxury retail space. A few short steps lead up to the
mezzanine foor where a dedicated Mens Area is located. The main
staircase leads down to the Womens Universe featuring a vast va-
riety of leather goods, shoes, and accessoires.
Salvatore Ferragamo opens at Greenbelt 4 mall
Renovation having been completed, the Italian fashion retailer
Salvatore Ferragamo opened its boutique at Greenbelt 4 mall in
late December 2011.
Pandora opened concept store
The jewellery brand Pandora has opened their frst Pandora con-
cept store in Makatis Greenbelt, in February 2011. The store
Greenbelt Mall, Manila
Beneft Cosmetics Greenbelt, Manila
presents an exquisite selection of earrings, rings, and necklaces,
as well as the charm bracelets that have put Pandora on the map.
Beneft Cosmetics New Make-up Paradise in Manila
Beneft Cosmetics founded and headquartered in San Francisco,
California, has also opened its frst store at the ground foor of
Greenbelt in December 2011. The company, founded in the 70s by
382
twins Jean and Jane Ford, is known for its quick-fx solutions to
beauty problems and playful packaging that stands out from other
high-end brands.
Thomas Sabo opened new boutique in Rockwell Center
In May 2011 Thomas Sabo opened a new boutique on the second
foor at Powerplant Mall in the Rockwell Center. The centre is a
four-level complex with a mix of special brands, both international
and local, a supermarket, lifestyle retailers, boutiques and restau-
rants. Thomas Sabo, which started out in Germany and has outlets
throughout Europe, America and Asia, is expanding now in Manila.
New openings at SM Megamall
The SM Megamall, which SM Prime Holdings holds a majority
share of, is currently the third largest mall in the Philippines and
one of the largest in all of Asia. The mall was completed in 1991
on a 10.5 hectare campus and the Megamall Atrium was added
in 2008. The SM Megamall is currently a two-wing, fve-storey
building complex with 348,000 square metres of foor space, 550
stores and restaurants, a 12-theatre multiplex cinema, and a par-
king lot for 2,702 cars.
The SM Megamall was the Phillippines largest shopping mall until
the SM Mall of Asia opened in May 2006.
Seagate opens fagship store
The US hard drive and tape drive maker Seagate Technology LLC
which is headquartered in Scotts Valley, California opened its frst
Manila store in 2011.
The concept store is the frst retail outlet in the Asia Pacifc regi-
on, to showcase and sell Seagates complete product range from
enterprise storage, desktop and notebookes, drives to external
storage solutions and accessories.
Paris Hilton to open 4th boutique in the Philippines
American socialite and hotel heiress Paris Hilton opened her
fourth boutique at the SM Megamall in Mandaluyong City. Paris
Hilton Handbags and Accessories also has branches in Resorts
World Manila in Pasay City, Robinsons Place-Ermita in Manila, and
Abreeza Mall-Davao in Davao City.
Uniqlo, Japans leader of casual clothes is coming to
Manila
The Philippines largest retail chain, SM Retail, has entered into a
joint-venture with Japans Fast Retailing Corp. Based on their ag-
reement, the new company will be established in the Philippines
at years end, and the frst Uniqlo
store will open in the SM Mall of
Asia complex in 2012.
Tretorn opened its third fag-
ship store worldwide
The classic shoe brand Tretorn
opened its third fagship store
in the world, at Manilas popular
Mall, Robinson Galleria. Now in its
120th year, Tretorn is expanding to
Asia and opened the new store in
June 2011. Tretorn, originally from
Sweden, is the classic shoe brand
known for its simple design and
comfortable ft.
Papa Johns Pizza new in
Robinson Galleria
Papa Johns Pizza is the third lar-
gest take-out and delivery pizza
restaurant chain in the United Sta-
tes, behind Pizza Hut and Dominos
Pizza. It is based in Louisville, Ken-
tucky.
SM Megamall Manila
World Record of Mentos Soda Geyser Fountain, SM Mall of Asia
383
In January 2011, Papa Johns opened its frst restaurant at Robin-
son Galleria, and is now preparing to open a second branch (in
2012), which will be located at University Mall on Taft Avenue. The-
re are more than 3,300 Papa Johns restaurants worldwide.
TopShop re-opened
The TopShop/Topman fagship store re-opened in May 2011, at
Robinsons Galleria, in Manila. The new store is the largest of all
TopShop/Topman stores and it carries items not available in other
stores, worldwide.
Highlands Coffee Expansion Plans for Philippinas
Vietnamese coffee house Highland Coffee will soon open its frst
outlet in the Philippines in 2012. Highlands Coffee was founded by
David Thai in 1998 in Hanoi and is Vietnams fastest-growing cof-
feehouse company.
Highlands Coffee is a registered brand of Viet Thai International
Joint Stock Company, and also owns franchising rights for several
brands in Vietnam such as Aldo Shoes, La Vie en Rose lingerie, Nike
and Hard Rock Cafe. The coffee chain is on track to expand to a to-
tal of 100 outlets by end of 2012, throughout the Phillippines.
Jamba Juice debuts in Metro Manila
Jamba Juice, the California-based chain of smoothie cafes, has
opened its frst store in the Philippines. The frst cafe at Bonifacio
Global Citys High St. South, an urban community in Metro Manila,
opened in November 2011.
Jamba Juice and Maxs Group has agreed to set up 40 stores in the
next 10 years. Jamba Juice has also nine franchises in South Korea
and one in Canada. In the US, it has 752 stores, 310 of which are
company-owned, and 442 of which are franchised stores.
Trendy clothing retailer Forever 21 opened its second Manila store,
in April 2011, after the frst opening in July 2010 at SM Mega Mall.
The new store is located at the SM Makati Shopping Centre on the
ground foor, with a 2,000 square metre retail shop.
Hello Kitty by Victoria Casal Couture comes to Manila
With its Hello Kitty by Victoria Casal Couture line, the French prt-
-porter label will defnitely stir the Parisian fashion frenzy in Ma-
nila. They opened its frst fagship boutique in Forbestown Centre
in January 2011.
SM Mall of Asia
Paris Hilton at here store opening, SM Megamall Manila
Uniqlo Opening Queue, SM Megamall Manila
Shanghai
385
83
Shanghai, Louis Vuitton marks the 20th anni-
versary of its presence in the Chinese market
.
SHANGHAI Chinas most important industrial city, has 23 million
inhabitants, 15,9 million of whom are offcially permanent resi-
dents, while the remainder are temporary residents with limited
residency permits. The centre of Shanghai, which displays a high
density of buildings and is self-enclosed, has 15,1 million inha-
bitants, while the population of the greater Shanghai area is 24,8
million.
With more than 28,4 million TEU (twenty-foot equivalent units) an-
nually, Shanghai is the worlds second largest container port after
Singapore (29 million TEU). In terms of total cargo handled (537
million tons), Shanghai is the worlds largest port.
Malls, The Bund and Nanjing Road
Shanghais 13-level Super Brand Mall hosts the outlets of myriad
international retailers, including (to name but a few) Calvin Klein,
H&M, Hilfger, Zara, Lacoste, C&A, West, Esprit, Guess, Mango,
Starbucks, Geox, Ecco, Swatch, Tissot, and Timberland. The mall,
which also offers a broad range of restaurants, is extremely well
frequented, and on weekends the number of visitors increases
substantially.
IFC Mall: Luxury par excellence (by Christian Mikunda)
Selling as an art form is how Mikuda refers to phase 4 of his jour-
ney through time in the world of Shanghai shopping, which offers
the Uniqlo doll elevator, as well as architecture, art and spectacu-
lar entertainment.
But the absolute highlight of the journey was the brand-new IFC
Mall, which is harmoniously and almost invisibly embedded in
Pudongs high-rise skyline. After passing through the malls temple
facades, you almost feel as though you are in an opera house. You
Shanghai Skyline
386
do not realise at frst that the mall has six levels, for what you see
instead is luxury in its purest form.
The IFC Mall may well have a higher concentration of luxury retai-
lers than any other shopping venue on earth, what with the likes
of Louis Vuitton, Cartier, Bottega Veneta, Gucci, Bulgari, Chanel,
Ermenegildo Zegna, Piaget, Chopard, IWC, Alfred Dunhill, Celine,
Super-Brand Mall, Shanghai
IFC Shopping Center Shanghai
Herms, Salvatore Ferragamo, Dolce & Gab-
bana, Prada, Miu Miu, Burberry, Tiffany, and
Christian Dior in residence. The malls loop ar-
chitecture avoids cul de sacs. The upper levels
host another 150 stores or so, most likewise of
international provenance, including Shanghais
frst Dsquared which opened in January 2011 in
a 170 square metre space.
The Apple store at the Pearl Court exit counts
as a kind of psychological bonus, for unlike the
New York Apple store with its glass cube rising
out of the ground, the IPC variant comprises a
striking glass cylinder through which you enter
the store via a staircase.
The Pudong skyline
Both the ritzy IFC Mall and the more consumer
goods oriented Super Brand Mall are located in
the Pudong district, east of the Huangpu River.
It is said of this district, which was built from
the ground up over a two-decade period that its
charm is to be found on the opposite side of the river. But this is
untrue, for Pudongs skyline is Shanghais most distinctive feature
and its veritable calling card.
Harry Winston debuts at The Bunds Peninsula Hotel
Harry Winston will be opening a 460 square metre boutique at the
ritzy 5-star Hotel Peninsula in January 2012. The hotels shopping
387
area also features Chopard, Prada, and Ralph
Lauren, among others. Located in Shanghais
historic Bund, the Peninsula Shanghai has a
view of the Huangpu River.
In September 2011, the Swiss watch company
Rolex moved into Shanghais House of Roosevelt
in The Bund, where this world market leader has
an 800 square metre space and is in the best of
company.
Nanjing Road is the main shopping street of
Shanghai and is one of the worlds busiest shop-
ping streets. Todays Nanjing Road comprises
two sections, Nanjing Road East and Nanjing
Road West.
Nanjing Road East
East Nanjing Road is a dedicated commercial
zone. At its eastern end is the central section of
the Bund, featuring the Peace Hotel. Immedia-
tely west of the Bund precinct was traditionally
the hub of European-style restaurants and ca-
fes, although in recent years, these have become
less of a feature as the demographics of visitors
to Nanjing Road have shifted from affuent local
residents to visitors from around the country.
Further west is the Nanjing Road pedestrian mall. Located here are most of Shanghais
oldest and largest department stores, as well as a variety of domestic retail outlets,
and some traditional eateries with a long history.
Apple Store IFC, Shanghai
Skyline Pudong, Shanghai
388
Nanjing Road West
The pedestrian mall and East Nanjing Road ends at Peoples Park,
formerly the Shanghai Race Course. Opposite the park are some of
Shanghais prestigious historic hotels, including Park Hotel. West
Nanjing Road begins here, and features a number of upmarket
malls, offce buildings, the Shanghai Exhibition Centre, and shops.
This area is now host to several fve star hotels, upscale shopping
centers, restaurants and prime offce buildings.
Apple opens second Shanghai store
In September 2011, Apple opened a new fagship store on
Shanghais East Nanjing Road, where the US consumer electronics
retailer has a three-level 1,500 square metre space containing
everything an Apple fans heart could desire. 300 Apple employees
(to serve 40,000 Chinese customers each day) and over 500 people
were there to celebrate the grand opening. The crowd began lining
up at the store on the corner of Henan Middle Road and East Nan-
jing Road.
WE comes to Shanghai
In late January 2011, WE opened a 2,000 square metre store on East
Nanjing Road near the new Apple store, and the following day ope-
ned its second store in a 1,500 square metre space in Chongqing.
WE plans to open 200 additional outlets in China over the next fve
years.
Milus debuts on Nanjing Road West
In May 2011, the Swiss watch retailer Milus opened a new store at
Nanjing Road West 11 in Shanghai.
Piazza Sempione new at Citic Square
Piazza Sempiones store opening in Shanghai is located in the Citic
Square shopping centre on Nanjing Road in Shanghai with a re-
tail space of 100 square metres. The Italian label plans to open 10
more units in the country over the next three years.
The House of Roosevelt, Shanghai
The Bund Shanghai
Nanjing Road East is visited by 1 Million pededstrians per day
389
IWC Shanghai store opening, impeccable watch experi-
ence
Recently, the internationally known luxury watch brand IWC Schaff-
hausen opened the third and fourth store respectively grand ope-
ned in Pudong Babaiban respective on Nanjing West Road across
the Huangpu River.
Guccis new Flagship Store in Golden Eagle Center
Set in the heart of Shanghai in the suitably titled Golden Eagle
Center, Guccis latest fagship has opened in June 2011 on 1,600
square metres, split on two foors. Inside it is very spacious and
cozy and refects the luxury merchandise market in Chinas dedi-
cation and commitment regarding Gucci.
Plaza 66 is the tallest building in Pu Xi of Shanghai
The building has 66 foors, which is why it was named Plaza 66.
There is a luxury shopping centre from the frst foor to the ffth
foor and it is usually regarded as the leader of the fashion in
Shanghai.
Many fashion brands have chosen this department store as the
location for their fagship stores in Shanghai. They include Louis
Vuitton, Herms, Cartier, Chanel, Dior, Celine, Escada, Bulgari, Fen-
di, Loewe, Prada, Versace, Lanvin, etc.
Uniqlo Flagship Store Nanjing Road West, Shanghai
Milus Nanjing Road West, Shanghai
390
Louis Vuitton 20 years in China
Louis Vuitton will celebrate its 20th anniversary in China with the
re-opening of their Shanghai Plaza 66 fagship store. Under reno-
vation for a year, when re-opened it will be Vuittons biggest store in
China and knowing Vuitton, the store faade will be nothing short
of a spectacular blend of architecture and lighting.
The LAvenue LVMH project opens 2012
2012 will also see LVMH open their own luxury mall project in
Shanghai. A joint venture with Macao Casino magnate Stanley Ho,
The LAvenue project in West Shanghai will house the entire line-up
of LVMH brands, as well as an A-grade offce building.
Escada debuts at Times Square Centre
In September, the luxury retailer Escada opened a store at
Shanghais Times Square Shopping Centre in a 220 square metre
space that carries the entire range of the Escada collection.
Vivienne Westwood opens frst boutique
In October 2011, Vivienne Westwood opened its frst Shanghai fag-
ship store, at Grand Gateway Mall, and plans to open an additional
40 stores in Shanghai over the next three years.
Citic Square Mall, Shanghai
Gucci Golden Eagle, Nanjing Road Shanghai
391
Plaza 66 Nanjing Road, Shangai
Louis Vuitton construction site at Plaza 66, Shanghai
392
LVMH LAvenue Construction Site 2011, Shanghai
Escada Times Square Opening, Shanghai
Shanghai to get Disney store in 2013
Walt Disney Company said that they planned to open
their frst store in mainland China in 2012 as it moves
to further expand its presence in the fast-growing
market.
The US entertainment giant said its strategy would
be to secure locations in upscale shopping centres
and department stores, where it will open Disney
Stores similar to those in Europe and North America.
The Shanghai Disneyland will be the US entertain-
ment giants third theme park in Asia, after those in
Tokyo and Hong Kong.
Marks & Spencer will open more stores
The British-based apparel and luxury food retailer
Marks & Spencer Group Plc (M&S) intends to open
more stores in Shanghai to increase its market
presence. Its latest outlet will cover an area of 3,700
square metres in the City Centre shopping mall in the
citys changing district.
According to a company statement, M&S plans to
build a strong presence in the Shanghai region as one
of its priority international markets. M&S opened its
frst store in Shanghai in 2008, and it currently opera-
tes four outlets in China three in Shanghai and one
in Ningbo, Zhejiang province.
393
Pacifc Department Store in Xu Jia Hui, Shanghai
394
Ikea store the size of six soccer felds
In June 2011, the Swedish homeware and furnishings retailer Ikea
opened its second largest store in Beicai Town, a 50,000 square
metre space the equivalent of nearly six soccer felds. Ikea plans
to open six additional stores by 2015.
Media Markt expanding
In December 2011, Media Markt, Europes largest consumer elec-
tronics chain, opened its fourth Shanghai store in a three-level 8
500 square metre space at Shunheng International Commercial
Plaza. Ten additional Media Markt stores are slated for opening in
Shanghai by the end of 2012.
Ermenegildo Zegna & Louis Vuitton Huaihai Road, LippoPlaza Shanghai
Disney Shanghai Rendering Media Markt Shanghai
395
84
Seoul, Uniqlo registers sales of 1,3 million euro
on opening day
.
SEOUL, offcially the Seoul Special City, is the capital and largest
metropolis of South Korea. A megacity with a population of over 10
million, it is the largest city proper in the OECD developed world.
The Seoul National Capital Area is the worlds second largest me-
tropolitan area with over 25 million inhabitants, which includes
the surrounding Incheon metropolis and Gyeonggi province. Over
half of South Koreas population lives in the Seoul National Capital
Area, and nearly a quarter in Seoul itself, making it the countrys
foremost economic, political, and cultural centre.
The largest market in South Korea, the Dongdaemun Market, is lo-
cated in Seoul. Myeongdong is a shopping and entertainment area
in downtown Seoul with mid- to high-end stores, fashion boutiques
and international brand outlets. The nearby Namdaemun Market,
named after the Namdaemun Gate, is the oldest continually run-
ning market in Seoul. Sinchon is a shopping area that caters main-
ly to a younger and university student crowd.
Seoul Skyline
Dongdaemun Market Seoul
396
Louis Vuitton Aiport Seoul
Lotte Seoul
Shopping in Seoul
Insadong is the cultural art market of Seoul, where traditional and
modern Korean artworks, such as paintings, sculptures and cal-
ligraphy, are sold. Itaewon caters mainly to foreign tourists and
American soldiers based in the city.
The Gangnam district is one of the most affuent areas in Seoul
and it is noted for its fashionable and upscale Apgujeong-dong
and Cheongdam-dong areas and the Coex mall. The Yongsan
Electronics Market is the largest electronics market in Asia.
Louis Vuitton opened frst ever Airport Store in Seoul
In September 2011, the frst ever Airport store of Louis Vuitton ope-
ned in Incheon International Airport.
The new store is 550 square metres and is dedicated to Lou-
is Vuittons passion for travel. The store features leather goods,
womens and mens shoes, watches, belts, ties, textiles, fashion
jewelery, sunglasses, watches and other luxurious accessories.
397
First Bogner fagship store at Lotte Department Store
In November 2011, Bogner opened its frst fagship store at Lot-
te Department Store on Cheongdamdong/Kangnam. The retailer
plans to open two additional stores in Hong King and China in the
coming months.
Miu Miu store opened at World Duty Free Shopping Centre
In December 2011, the internationally renowned luxury retailer
Miu Miu opened an 80 square metre store at Lotte World Duty Free
Shopping Centre. Miu Miu is a member of the Prada Group, as are
Churchs, Prada, and The Original Car Shoe.
Christian Louboutin
The frst Christian Louboutin store in Korea opened in the fashio-
nable district of Chongdam-dong, southern Seoul, in Spring 2011.
Steve J & Yoni P
The brand Steve J & Yoni P fagship store opened in April 2011 at
1F-2F, Hannam-Ding, Yongsang-Gu. Always full of humour and wit,
they are offering high-end casual wear based on the fne arts, its
sophisticated cuts and sense of rich colour rise above the crowd.
Steve and Yoni were at the 2008 London Fashion Week with British
punk sensibility, and since 2010, they have been working in Seoul.

Steve Js moustache and Yoni Ps eyelashes make up the logo,
which openly reveals what they aspire to. The practical clothing
mixed with high fashion and casual looks that are great for every-
day life continue to gain popularity.
Miu Miu Lotte Duty Free, Seoul
Christian Louboutin Boutique
398
A.P.C has opened their 4th boutique in
South Korea
The French ready-to-wear brand A.P.C. has ope-
ned their 4th fagship store in South Korea.
Adidas launched womens store concept
In March 2011, Adidas launched their frst
womens concept store in Seoul, in Cheong-
dam-dong fashionable district. The 164 square
metre store was designed by Hong Kongs frm
StartJG.
Donna Karan opened in the Cheongdam-
dong District
In August 2011, DKNY has opened the frst 400
square metre store in the Cheongdam-dong fa-
shionable district, in Seoul. The street is also
known as Fashion and Art Street, which has
50 shops for imported foreign brands, local fa-
shion designers shops, and 30 galleries.
Uniqlo registers sales of 1,3 million euro
on opening day
Uniqlo (a member of the Fast Retailing Group)
opened a 3,966 square metre store at Myeong-
dong Central, the companys second largest
store after its outlet on New Yorks Fifth Avenue.
The new store registered sales of 1,3 million
euro on its opening day, a record in the annals
of Korean retailing.
Spanish Inditex Group Expansion in Seoul
Bershka, a retailer and part of the Spanish In-
ditex Group, has opened its frst store on the
Asian market on the 26th August, in the D-Cube
City shopping centre, in Seoul.
Spanish Inditex also owns the brands Zara,
Massimo Dutti, Pull and Bear, Oysho, Uterqe,
Stradivarius and Zara Home.
South Korea is looking forward to welco-
ming their frst IKEA Store
The Scandinavian home products company will
take place in Gwangmyeong, with their frst
store in South Korea. The 79,198 square metre
store will be opening in 2013.
Philip Lim Store Seoul
Uniqlo Opening Seoul
399
85
Beijing: Seasons Place Mall features over 600
stores, most of them luxury brands
.
BEIJING, the capital city of China, was founded more than 3 000
years ago. Its name means northern capital. Beijing is governed
by the central government, and is thus on a par with the countrys
other administrative entities in this regard.
Beijing, which has 17,6 million inhabitants, comprises a single co-
nurbation, but with its predominantly rural settlement structure it
is more province-like.
Seasons Place Mall features over 600 (most) luxury
brands
Financial Street on the west side of Beijing witnessed the grand
opening of Seasons Place in October 2007, a luxury shopping mall
thats giving Shin Kong Place on the east side of Beijing a run for
its money.
Seasons Place Mall features over 600 brands, including high-end
labels from both Europe and America like Louis Vuitton, Dior, Guc-
ci, Versace, Salvatore Ferragamo, Prada, Stella McCartney, Emilio
Pucci, Maison Martin Margiela, Alexander McQueen, Marni, Miu
Miu and Givenchy. The shopping centre also houses the only Lane
Crawford in the city, a popular Hong Kong-based chain that sells
high-end designer labels in a chic atmosphere.
Lane Crawford at Seasons Place, Shop L130, Seasons
Place Shopping Centre, 2 Jinchengfang Street, Xicheng
District, Beijing, China
Lane Crawford, Hong Kongs leading specialty store, opened its
frst store in Beijing in October 2007. As the frst luxury, multi-
brand specialty store of its kind, the Beijing store offers customers
unparalleled shopping experiences, world-class services, and,
Beijing Skyline
Beijing Central Business District
400
uniquely, own-bought merchandise. Located in Beijings Seasons
Place Shopping Centre, the 7,400 square metres store features
more than 600 brands. More than 50 % of the stores brand port-
folio was new to the Beijing market when the store opened, many
of the brands remained to be exclusively available in Beijing. Time
Magazine also recognised the store as one of the top 100 designs
in its The Design 100 edition in the same year.
Bell & Ross opens its frst store in Shop L120, Seasons
Place Shopping Mall
The Franco-Swiss brand that creates watches for professionals
inspired by airplane instrument panels continues to pursue its
international development. The brand opened its frst boutique in
Beijing, China, in September 2011, a strategic step for the brand
that attests to its dynamic international growth.
Wangfujing Road sister street of Champs-lyses
As the most famous commercial area of Beijing, Wangfujing is lo-
cated at the northern side of Changan Avenue at the center of the
city.
Seasons Place Mall, Beijing
Lane Crawford Seasons Place Mall, Beijing
401
With a long history of more than 700 years, it came into being in
the Yuan Dynasty. In the middle of the Ming Dynasty, there was the
earliest business activity. Wangfujing became a commercial center
when the Dong An Market was founded here in 1903.
The street is less than one kilometre long, but it is crowded with
specialty and long-history shops, which are full of modern atmos-
phere and high taste. Nowadays, it is considered the sister street
of Champs-lyses in France. Besides of its modern feature, the
street also preserves the Chinese traditional style, such as the
Oriental Plaza, Gongmei Building, Wangfujing Department Store,
Muslim Building, Sun Dong An Plaza and so on. The street sees
500,000 people everyday absorb its attractive charm.
New Swatch fagship store opens on Wangfujing Road
Swatchs new fagship store had a grand opening in the most pres-
tige avenue Wangfujing Street at the beginning of December 2011.
The new image fagship store is the biggest store of Swatch in Bei-
jing.
Lotte Departent Store Wangfujing Street, Beijing
China World Trade Center, Beijing
China World Trade Centre is a 3,6 hectare urban development
area located in the centre of Beijings business district.
This area, which is around fve kilometres east of the Forbidden
City, is home to Skidmore, Owings and Merrills China World Trade
402
Jinhua Watch CEO Liu Zhongyang, Hublot CEO Mr. Biver,
Mr. Jet Li (Movie Star) at the Hublot Wangfujing Opeing
ly relaunched as China World Mall. In 2010, with the addition of
Phase 3, China World Mall commands a total size of 100,000 square
metres GFA, 50,000 square metres of leasable area, featuring over
300 specialty shops.
As the hub of China World, the China World Mall seamlessly inte-
grates every component of the development. With ground-level
entry points from all four directions it is easily accessible from the
East Third Ring Road, Guanghua Road, the Kerry Centre and the
China World Exhibition Hall.
Fendi, Henry Cottons, Max & Co, Moncler and Giuseppe Zanot-
ti opened in China World Shopping Mall Phase I, squeezing out a
number of poorly performing retailers; Joyce, a luxury retailer from
Hong Kong, opened in China World Shopping Mall Phase III with a
GFA of 2,000 square metres.
Milan-based Etro and Hogan open fagship stores at World
Shopping Mall
In November 2011, Etro, which also partners with the Hong Kong
retailer Jocey, opened its largest fagship store in a 350 square
metre space at Beijings World Shopping Mall. Retailers such as
Adidas, Alexander McQueen, American Apparel, Apple, Burberry,
and Bulgari also have outlets at the mall.
In this same month, the Italian fashion retailer Hogan (a member of
the TOD Group) opened its frst Beijing store in a 170 square metre
space. Hogan also has one store each in the Chinese cities of Har-
bin and Wuhan.
CCTV & TVCC Centres, Beijing
Centre Tower II. This 330 metre high structure, which is Beijings
tallest building, has 74 foors, 540,000 square metres of usable
space, and 30 elevators. More than 10,000 persons work in the to-
wer.
China World Shopping Arcades
Being an integral part of China World Trade Center, China World
Shopping Arcade was openend in August 1990 and was among the
frst in the city of Beijing to introduce the Shopping Mall concept.
Throughout the expansion in 1997 and by May 2000, it was proud-
403
Sanlitun Village is a shopping centre in Beijing, China. It comprises
19 buildings on two sites, a few minutes walk from each other.
The Piazza (Village South)
The centre opened in July 2008 and features 140 stores, dining
outlets and services including Adidas, Apple, C.P.U., Crocs, Esprit,
Fossil, Havaianas, Lacoste, Levis, Mango, Puma, Reiss, Steve Mad-
den, Uniqlo and many others.
The Deck (Village North)
The development also includes a high-end retail area called Villa-
ge North located a few minutes walk from Village South. The area
includes designer brands like Alexander McQueen, Balenciaga,
Balmain, Lanvin, Maison Martin Margiela, Marni, Miu Miu, Mont-
blanc, Versace, Rolex, and I.T Beijing Market Comme des Garcons.
In addition to fashion, the retail offering includes a selection of art
galleries focusing on avant-garde and contemporary Chinese and
international artists.
Sanlitun Village plays host to major Italian brands
In early November 2011, Marni opened its largest Chinese store at
Sanlitun Village, in a split-level 550 square metre space. Versace
opened a store here too, in a 500 square metre space next door to
Marni, while the Milan sportswear and down retailer Moncler ra-
pidly moved forward with its expansion efforts by likewise opening
a new outlet at Sanlitun Village in a 516 square metre space.
China World Trade Center Mall, Beijing
Sanlitun Village South, Beijing
404
Alexander McQueen and Alexander Wang
The designer apparel company Alexander McQueen, which was
founded in 1993, opened its frst Chinese store in November 2011
in a split-level 400 square metre space. In the spring of 2012, the
US fashion retailer Alexander Wang opened its frst Chinese store
as well, next door to Alexander McQueen, in a split-level space.
D
2
, Juicy Couture and Lanvin
The fashion retailer Dsquared, which is owned by the Canadian
twin brothers Dean and Dan, opened a new fagship store at Sanli-
tun Village as a joint venture with their Hong Kong franchise part-
ner the Joyce Group. The new 500 square metre store is directly
adjacent to Alexander Wang and Alexander McQueen. Maison Mar-
tin Margiela, a member of the Diesel Group, opened a 540 square
metre fagship store at Sanlitun Village.
In January 2011, the French retailer Lanvin likewise made its debut
at this mall, in a 560 square metre space, and now has Alexander
McQueen, Alexander Wang, Versace, and Dsquared for neighbours.
California-based fashion brand Juicy Couture unveiled its frst
fagship store in Beijing on December 2011. The 400 square metre
The Deck Village North, Beijing
Dsquared The Deck Village, Beijing
405
fagship is located in the Sanlitun shopping centre, which is also
home to a large two-story Apple store.
Juicy Couture has been gradually expanding in China since 2006.
By the end of this year, the brand will have 38 stores throughout
China and 22 in other Asian countries.
MCM, Tory Burch, Montblanc, and Christian Dior debut
at Shin Kong Place Mall
The Munich retailer MCM moved into the 180,000 square metre
Shin Kong Place Mall in April 2011, followed a month later by New
York retailer Tory Burch, which opened its 50th store worldwide in
a 100 square space next door to MCM.
Montblanc held a gala opening on 1 December 2011 for its new
store at Beijings Shin Kong Place. Montblanc is renowned for their
writing utensils, jewellery, leather goods, and high tech watches.
This is the second Montblanc store in Beijing after the Oriental
Plaza store. Christian Dior opened a second fagship store in mid-
December, in an 800 square metre space at Shin Kong Place.
De Beers Shin Kong Place Mall, Beijing
Juicy Couture Sanlitun Village, Beijing
406
De Beers, Audemars Piguet and Montblanc opened also at
Shin Kong Place
De Beers was delighted to announce the opening of the frst store
in China at Shin Kong Place, marking its highly anticipated entran-
ce into one of the worlds fastest-growing jewellery markets.
The store was opened on 31st May, 2011, in a launch hosted by
Franois Delage, CEO of De Beers Diamond Jewellers, who de-
clared, We are excited to open our frst store in Mainland China,
enabling us to fully share our exceptional passion and expertise in
diamond selection, craftsmanship and diamond jewellery design
with one of the largest and most discerning markets in the world.
The top world-renowned Swiss watch brand Audemars Piguet held
a grand opening on the frst foor of Beijing Shin Kong Place at the
beginning of May 2011.
Starbucks opens 500th store in China
In October 2011, Starbucks opened its 500th Chinese store, at Bei-
jing Capital International Airport. Starbucks plans to open an addi-
tional 1,000 stores in China by 2015.
Prada opens 80 new outlets
Pradas Asian sales for the frst half of 2011 amounted to 223 mil-
lion euro, a 38 % increase over 2010. Prada aims to double or triple
this fgure over the coming three years and to this end will be ope-
ning 80 new stores by 2013.
Roberto Cavalli to open 85 new stores
The Italian retailer Roberto Cavalli plans to expand into the Chi-
nese market by opening 85 new stores in China over the next fve
years.
Gucci, Versace & Prada, Shin Kong Place Beijing
Shin Kong Place, Beijing
407
86
Tokyo at ten million yen per square metre, Ginza
real estate is the priciest in Japan
.
With 8,9 million inhabitants, Tokyo is not only Japans most popu-
lous city, but also the seat of the Japanese government, thus ma-
king it Japans de facto capital city. Together with the neighbouring
prefectures, the Tokyo conurbation is the worlds most populous
urban area, with 34,5 million inhabitants.
At ten million yen per square metre, real estate in Tokyos
Ginza is the priciest in Japan
Ginza is a main shopping and entertainment area in Tokyos Ch
district, where Ginzas main shopping street Chuo-dri and its
countless (and in some cases, nameless) side streets are home to
myriad top-drawer fashion and luxury retailers. At the intersection
of Chuo-dri and Harumi-dri are the prominent upscale depart-
ment stores Wako and Mitsukoshi, as well as the Sanai building,
with its numerous illuminated advertisements. On weekends,
Chuo-dri is closed to traffc and becomes a pedestrian zone. In
Japan, ginza has come to mean shopping street, and so there
are ginzas all across Japan. At ten million yen (102,000 euro) per
square metre, real estate in Tokyos Ginza is the priciest in Japan.
Recent and new developments
Tokyo still sees new urban developments on large lots of less pro-
ftable land. Recent projects include Ebisu Garden Place, Tennozu
Isle, Shiodome, Roppongi Hills, Shinagawa and the Marunouchi
side of Tokyo Station. Buildings of signifcance are demolished for
more up-to-date shopping facilities such as Omotesando Hills.
Land reclamation projects in Tokyo have also been going on for
centuries. The most prominent is the Odaiba area, now a major
shopping and entertainment center.
Omotesando Hills was built in 2005, in a series of Tokyo urban de-
velopments by Mori Building. It occupies a two hundred and ffty
metre stretch of Omotesand, a famous shopping road in Aoyama
sometimes termed Tokyos Champs-lyses. It was designed by
Tadao Ando, and contains over 130 shops and 38 apartments.
The construction of Omotesando Hills, built at a cost of USD330
million, has been marked by controversy. The building replaced the
Skyline Tokyo
408
Bauhaus-inspired Djunkai Aoyama Apartments, which had been
built in 1927 after the 1923 Kant earthquake.
Roppongi Hills is a new urban centre and one of Japans largest
integrated property developments, located in the Roppongi district
of Minato, Tokyo.
Constructed by building tycoon Minoru Mori, the mega-complex
incorporates offce space, apartments, shops, restaurants, cafes,
movie theatres, a museum, a hotel, a major TV studio, an outdoor
amphitheater, and a few parks. The centrepiece is the 54-story
Mori Tower. Moris stated vision was to build an integrated deve-
lopment where high-rise inner-urban communities allow people to
live, work, play, and shop in proximity to eliminate commuting time.
Seventeen years after the designs initial conception, the complex
opened to the public on 23rd April, 2003.
Swiss retailers open fve fagship stores in Ginza
Japans foremost shopping district Ginza is witnessing a sudden
offensive of noble Swiss retail brands: In June, Hublot opened its
frst boutique in Japan. In August, the Swiss luxury fashion and
accessories label Akris and the Swiss luxury leather goods house
Bally both opened their frst fagship in Japan in Ginza. In October,
the bag producer Freitag continued its growth abroad also with a
fagship opening in Ginza. Finally, Carl F. Bucherer opened also its
frst fagship in Ginza, also in October. All fve retailers see business
chances in Japan despite the strength of yen and Swiss franc.
Crossing Chuo-dri und Harumi-dri, Ginza Tokyo
Street Szene Ginza, Tokyo
409
Matsuya Department Store Ginza, Tokyo
Omotesando Hills Entrance, Shibuya, Tokyo
410
Hublot opened 37th Boutique
First-ever Hublot boutique in Japan opened on prestigious Namiki
street, 6-7-16 Ginza, Tokyo. Hublot continues its expansion into the
most signifcant luxury destinations in the world.

Akris expanding worldwide
Akriss Tokyo fagship store is part of a worldwide retail expansi-
on plan. The 130 square metre store is located on Ginza 4-chome
Street. We have eagerly anticipated this exciting moment, Akris
designer and creative director Albert Kriemler told Vogue magazi-
ne. This is Akriss frst stand-alone store in Japan.
Bally Grows in Japan
Bally, which has continued to grow in Japan despite the March
earthquake, hosted a cocktail party in Tokyo to celebrate the open-
ing of its new Ginza fagship. Chief executive offcer Berndt Haupt-
korn said the brand has posted good single-digit growth in the
February-to-August period with particular strength in mens and
high-end full-price merchandise.
Freitags Premium Label
The bag maker Freitag opened a fagship store in Ginza in Octo-
ber 2011. Its traditional products are usually not considered luxury
articles but the company has recently launched a premium brand
called Freitag Reference. The bags are still made from truck tar-
paulins but are more elaborately processed and have a more pu-
ristic design. The Japanese are our most extreme fans, Markus
Freitag (41) told the Swiss newspaper Tagesanzeiger.
Omotesando Hills Mall Shibuya, Tokyo
Escada Roppongi Hills Aoyama, Tokyo
Moncler Aoyama, Tokyo
Moncler Shop Window Aoyama, Tokyo
411
Carl F. Bucherer unveils new Tokyo boutique
In October 2011, Carl F. Bucherer opened its frst Japanese bou-
tique in a 95 square metre space in Ginza. Above the retail area
is an exclusive 192 square metre VIP lounge whose design is the
same as on the lower level.
Uniqlo 9th global fagship store with 5,000 square metres
This new location will open in March, 2012 with a sales area span-
ning approximately 5,000 square metres across 12 foors.
The brand has opened eight global fagship stores in seven major
world cities over the past fve years, including a second fagship lo-
cation in New Yorks 5th avenue, while consistently raising product,
store and customer service standards.
As the ninth global fagship location, the UNIQLO Ginza Store will
feature the brands largest retail sales space in the world.
Gap opened 1,400 square metre fagship store
American apparel chain Gap opened a four-level fagship store in
Ginza in March 2011. The new store is Japans largest Gap store. The
Ginza store has a foor for everyone: womens, mens and childrens
collections fll the 2nd, 3rd and 4th foors respectively, whereas the
frst foor strategically displays Gaps newest and limited-season
products.
Miu Miu opens 18th Japanese store
Cartier & Prada Aoyama, Tokyo
Harumi-dri Ginza, Tokyo
412
Hublot Boutique Ginza, Tokyo
Uniqlo Ginza Flagship Store, Tokyo
Miu Mius 18th Japanese store opened in a 530 square metre space
in Ginza, in Tokyos Chuo-ku Echogoya district. The three-level store
features a magnifcent 13 metre high facade.
Big Opening of New UGG Store
In June 2011, UGG had a big store opening titled A Celebration of
Summer in Ginza, Tokyo. At the luxurious venue, various models
wore summer-like outfts, all paired with UGGs signature sheeps-
kin boots. The new fagship store handles 930 square metres and
is close to the Prada and Salvatore Ferragamo store.
Royal Asscher opens fagship store in Ginza
The Royal Asscher company opened its frst store in Japan in July
2011. The store is located in Ginza, alongside other luxury stores
such as LVMH, Bulgari and Chanel. To mark the stores opening, a
Royal Asscher diamond tiara has been created containing a total
of 10 carats of diamonds set in platinum and worth 385,000 dollar.
The tiara will be loaned to brides who purchase a Royal Asscher
engagement ring in the Ginza store.
The venture, in cooperation with Asschers Japanese partner, Na-
gahori Corporation, will be followed by the opening of fagship
stores in the Peoples Republic of China.
413
Michael Kors opens second Tokyo boutique, at Roppongi
Hills
In November 2011, Michael Kors opened a 200 square metre bou-
tique in Tokyo, at the choicest location Roppongi Hills shopping
complex has to offer and where the store is in good company
amongst other leading luxury retailers.
Escada debuts in Japan
In September 2011, Escada unveiled a newly designed fagship
store at Roppongi Hills, which is one of Tokyos most prestigi-
ous shopping venues. The split-level 500 square metre space is
Escadas debut store in Japan.
Roberto Cavalli debuts in Tokyo
The Florentine fashion retailer Roberto Cavalli has opened its de-
but Japanese store in a 300 square metre space in Tokyos fashio-
nable Aoyanna district. The store carries shoes, bags, accessories,
sunglasses, and jewellery. Prior to this, Roberto Cavalli had fve
shop-in-shops at various Japanese department stores.
Moncler debuts in Tokyo
The Moncler fagship store in Minamiaoyama Minato-ku opened in
the Aoyama luxury boutique-district. The 230 square metre store
was formerly the Dolce & Gabbana fagship store. This new Mon-
cler fagship stocks the brands complete mens, womens and ac-
cessories collections.
Anya Hindmarch debut in Aoyama
Marking her 22nd location in Japan, in addition to 34 shops across
the globe, Anya Hindmarch launched a new two-story fagship in
Aoyama, one of Tokyos premier shopping districts.
Bally Boutique Ginza, Tokyo
Gap Ginza Flagship Store, Tokyo UGG Store Ginza, Tokyo
Ruco Line opens two new stores in Tokyo
Rucoline, the company that produces shoes and accessories com-
pany from Perugia, has inaugurated two new Tokyo stores in the
month of June 2012 (the frst store in the Japanese capital was
opened in 2008 in Ginza). The two new retail spaces are located
respectively in the shopping area of Daikanyama and in the inter-
national fnancial district of Minamiaoyama.
414
415
416
Sydney Opera
Australia
.
417
Sydney, the capital city of New South Wales, was founded on 26
January 1788, and with 3,6 million inhabitants is Australias largest
city. The greater Sydney area has 4,1 million inhabitants. Although
people sometimes assume that Sydney is the capital of Australia,
this distinction in fact belongs to Canberra.
Sydneys main shopping district, which is bounded by Elizabeth,
King, George and Park Streets, comprises the Pitt Street Mall pe-
destrian zone, as well as restored buildings such as Queen Victoria
Building, a magnifcently renovated former market hall that reo-
pened in 1986 as a shopping complex containing myriad fashion
and antique shops. Located in downtown Sydney, Myers on George
Street is a steel and glass department store containing a mall.
87
Sydney, Zara debuts, while Apple opens its 11th
Australian store
.
Sydney Skyline at dusk
Sydney City Center
Another important shopping venue on George Street is the magni-
fcent 19th-century Strand Arcade, which features abundant glass
and embellishments. Argyle Stores mall on Argyle Street is home
to numerous boutiques in a 19th-century building. David Jones,
which has a branch on both Elizabeth Street and Market Street
(corner of Castlereagh Street), is Sydneys classic department
store. It has a large selection of apparel, as well as a foor devoted
to Australian and international designer fashions.
Louis Vuitton opens on George Street
On 1 December 2011, Louis Vuitton opened a 1,200 square metre
fagship store on George Street, where the retailer is in excellent
company with prominent name boutiques such as Burberry, Bulgari,
Diesel, Gucci, and Montblanc right close by.
418
Gucci George Street, Sydney
419
420
Burberry takes over Virgin megastore
The British luxury retailer Burberry opened a new store in April
2011 in an 820 square metre space on George Street that was for-
merly a Virgin megastore.
Bottega Veneta, Prada and Miu Miu debut in Australia
In March 2011, the Italian luxury retailer Bottega Veneta opened its
debut store in Australia, in Pitt Streets Westfeld Sydney Shop-
ping Centre, in a 200 square metre space designed by Thomas Mai-
er. Miu Miu (a member of the Prada Group) opened a 420 square
metre store at the same venue in July 2011, while Prada opened a
400 square metre outlet next door.
Gucci and Prada debut at Westfeld Centre
Gucci is pleased to announce the opening of a new fagship store in
Sydney, Australia. Located in the Westfeld Shopping Centre along
Castlereagh Street, the store spans more than 740 square metres
over two foors and boasts a new design concept by creative direc-
tor Frida Giannini.
Burberry George Street, Syndey
Ermenegildo Zegna Castlereagh Street, Sydney
421
Zara debuts, while Apple opens its 11th Australian store
In July 2011, Apple opened its 11th Australian store, at Westfeld
Penrith Shopping Centre, and in April 2011, Zara opened its debut
Australian store in a three-level 1 400 square metre space at West-
feld Sydney Shopping Centre.
Cara&Co opens second store worldwide
In August 2011, the designer retailer Cara&Co opened its second
store worldwide, in a 580 square metre space. Some traits of this
Sydney store for our Moscow clients will seem familiar the No
Logos Fashion Only concept. Still there are a lot of things which are
brand new with regards to the Cara & Co project. The Sydney store
offers the collections of high-jewellery brands and gadgets. And
the main focus is a fne dining restaurant situated inside the con-
cept store offering high cuisine of the menu specially created by
Belgian Chef Dave De Belder, one of the Flemish Primitives group.
Zegna comes to Castlereagh Street
In August 2011, Ermenegildo Zegna opened a new store on Cast-
lereagh Street, in a split-level 330 square metre space that was
designed by architect Peter Marino.
Victorias Secret opens store at Sydney Airport
In December 2011, the US lingerie retailer Victorias Secret opened
its second store in Australia.
Prada & Miu Miu Westfeld Sydney, Sydney
Zara Westfeld Sydney, Sydney
422
Louis Vuitton George Street, Sydney
423
Melbourne, the capital city of the Australian state of Victoria, has
3,4 million inhabitants, making it Australias second largest city.
Metropolitan Melbourne has 4,1 million inhabitants. In 2002, 2004,
2005 and 2011.
The city centre is well-known for its historic and attractive lanes
and arcades (the most notable of which are Block Place and Royal
Arcade) which contain a variety of shops and cafes and are a by-
product of the citys layout.
The Melbourne General Post Offce
The Melbourne General Post Offce (GPO) is a former post offce in
Melbourne, Victoria, Australia. Located on the corner of Elizabeth
Street and Bourke Street in the heart of the Melbourne CBD, it is a
landmark of the city and is listed on the Victorian Heritage Regis-
ter. The former purpose-built post offce building currently func-
tions as a shopping mall, having been re-developed for adaptive
reuse in 2004.
Bourke Street is one of Melbournes best known streets
Historically, Bourke Street has been regarded as Melbournes se-
cond street, with the main street being Collins Street. Busier
than Bourke Street is a popular catchphrase, not least because
Bourke Street has traditionally been Melbournes entertainment
hub. In its heyday, it was the location of many of Melbournes the-
atres, cinemas, as well as a major retail shopping precinct. Today
the street remains an entertainment hub best known as the loca-
tion of the Bourke Street Mall, Melbournes main pedestrian mall
and one of the citys main tourist destinations. Bourke St Mall is
home to two major luxury department stores.
88
Melbourne, British cult retailer TopShop makes
Australian debut
.
Myers nine-foor fagship store, housing 200+ brands Calvin
Klein, Givenchy, Chanel, Dior, Mulberry, DKNY, Nina Ricci, Empo-
rio Armani, Marc Jacobs, Polo Ralph Lauren, Hugo Boss, Guess,
Pandora, Sass and Bide, Temperley London, Moschino, Emilio Puc-
ci and more.
David Jones second fagship store, which houses world-luxury
brands Armani Collezioni, Bally, Bottega Veneta, Burberry, Chris-
tian Louboutin, Dolce & Gabbana, Ermenegildo Zegna, Fendi, Hugo
Boss, Jimmy Choo, Manolo Blahnik, Miu Miu, Paul Smith, Polo Ral-
ph Lauren, Ted Baker, Yves Saint Laurent and more.
Skyline Melbourne
Bourke Street, Melbourne
424
Probably the frst Apple store in Melbourne
One of the frst signs of a new Apple store on the verge of being
opnened in Australia is the opening of applications for various po-
sitions on Apples jobs site. Interestingly, the location is described
as Melbourne without a suburb specifcation, but the postcode is
shown as 3205, which is South Melbourne.
Chadstone Shopping Centre gets two new tenants
In October 2011, Armani Exchange opened a 240 square metre
store on the second level of Melbournes Chadstone Shopping Cen-
tre, where the Spanish fashion retailer Adolfo Dominguez opened
its debut Australian store.
Gap opens at La Trobe Streets Central Shopping Centre
In December 2011, the US retailer Gap opened its third Melbourne
store in a 999 square metre space in a prime location at Central
Shopping Centre, in close proximity to the likes of G-Star, Tommy
Hilfger, Calvin Klein, Body Shop, Diesel, Foot Locker, and Armani
Exchange.
In December 2011, the US shoe retailer and Nike Group member
Converse likewise opened its frst Melbourne store, in a 170 square
metre space.
British cult retailer TopShop makes Australian debut
In December 2011, the young-fashion retailer TopShop opened
a 1,300 square metre store at Jam Factory Shopping Centre. The
companys products are marketed in Australia by Next Athleisure.
Apple-Store Melbourne
Gap Melbourne
Topshop Melbourne
425
Zara opens second Australian store, on Bourke Street
Having opened its frst store in April 2011, two months later, Zara
opened a second store in a 1,700 square metre three-level space.
Thomas Pink and Paul Smith come to Australia
In 1999, Frances Moet Hennessy Louis Vuitton group acquired, a
majority share in the British mens outftter Thomas Pink, which
has now opened its frst store in Melbourne, where Paul Smith will
be opening a new 250 square metre store in mid-2012.
Successful reopening of Tiffanys on Collins Street
Having completed its renovation project, Tiffanys reopened on Col-
lins Street in August 2011 in a 1,250 square metre space.
Zara, Melbourne
Tiffany & Co, Melbourne
426
427
428
America
.
North America is a continent wholly within the Northern Hemis-
phere. It is also considered a northern subcontinent of the Ame-
ricas. North America covers an area of about 24,7 million square
kilometers. Its population was estimated at nearly 529 million peo-
ple thus, is the third-largest continent in area, following Asia and
Africa, and the fourth in population after Asia, Africa, and Europe.
South America is a continent mostly situated in the Southern He-
misphere. The continent is considered the second subcontinent
of the Americas. South America has an area of 17,8 million square
kilometers and its population has been estimated at more than
371 million. South America ranks fourth in area and ffth in po-
pulation.
In the following the most important and most famous fashion and
luxury metropolises of North- and South America are introduced
and the most important novelties of the last months indicated.
Times Square, New York
429
89
Toronto, Max Mara and Michael Kors opening
in Bloor Street
.
With 2,5 million inhabitants, TORONTO is Canadas largest city and
is also the capital of the province of Ontario. Toronto is located in
the Golden Horseshoe, which extends around the western end of
Lake Ontario and ends at Niagara Falls.
Around a third of Canadas population increase in recent years has
occurred in Toronto, whose metropolitan area population increased
from 4,1 million in 1992 to 5,1 million in 2006. The Greater Toronto
Area had more than 6.2 million inhabitants in 2010. Downtown To-
ronto, where the citys shopping and bank districts are located, is
near Lake Ontario.
The Yorkville neighbourhood
The Yorkville neighbourhood is one of Torontos most elegant shop-
ping and dining areas. On many occasions, celebrities from all over
North America can be spotted in the area, especially during the
Toronto International Film Festival. The Distillery District, Queen
West, Harbourfront, the Entertainment District, the Financial Dis-
trict, and the St. Lawrence Market neighbourhood are also popular
areas for tourists. Yonge Street is the major high street.
The Eaton Centre is one of North Americas top shopping destina-
tions in downtown Toronto, and Torontos most popular tourist at-
traction with over 52 million visitors annually. Additionally it is also
the largest shopping mall in Toronto and third largest in Canada as
a whole. It was named after the now-defunct Eatons department
store chain that once anchored it.
The Eaton Centre is bounded by Yonge Street on
the east, Queen Street West on the south, Dun-
das Street West on the north, and to the west by
James Street and Trinity Square.
Max Mara and Michael Kors opening in
Bloor Street
Another opening in Toronto was announced by
Max Mara. The luxury label opened a store at 151
Bloor St. West in August.
The iconic American designer and fashion house,
Michael Kors, is set to open its frst ever Canadian
fagship store in Torontos trendy haute neighbour-
hood, Yorkville. Located at Bloor Street West, the
new 287 square metre, two-storey fagship store
will house an emporium of clothing, accessories,
hand bags and all that glam.
Intermix plans worldwide expansion
International retailers regard Canada as a key expansion market
a view that was expressed, for example, by Intermix CEO Kha-
jak Keledjian, on the occasion of the opening of the frst Intermix
store in Canada, which Mr. Keledjian says is the centrepiece of the
companys expansion plans. He also feels that it would be easier
for Intermix to expand into Western Europe if the company had
outlets in each of Canadas cosmopolitan cities. Intermix kicked off
this expansion programme by opening a 204 square metre store on
Torontos Bloor Street West in August 2011.
Joe Fresh opens stores in Canada
By opening four stores in 2011, including a 762 square metre outlet
on Queen Street, the Canadian apparel and accessories retailer
Joe Fresh considerably strengthened its presence in Ontario and
Quebec.The line is available at over 300 Canadian supermarkets
and superstores, in addition to a number of stand-alone locations.
Toronto skyline
Park Hyatt Yorkville, Toronto
430
UGG opens frst Toronto store
The US shoe retailer UGG opened its frst store in Toronto in October
2011. The company has gained worldwide renown on the strength
of its sheepskin aprs-surfng boots, which are now available in
a 275 square metre store on St. Thomas Street in the enchanting
Yorkville Shopping District.
Yorkdale ffth largest mall in Canada
Yorkdale Shopping Centre is a large shopping mall in Toronto, Onta-
rio, Canada. It contains over 250 stores and is located in the com-
munity of Downsview, in North York. It is the ffth largest shopping
mall in Canada and also enjoys the highest sales per square foot of
any mall in Canada, with current merchandise sales levels at over
US$ 1,000 CAD per square feet. The centre draws in approximately
400,000 customers a week.
In January 2011, a press release stated an intention to expand the
mall, adding another 145,000 square feet (13,500 square metres),
suffcient for 40 store fronts, and 800 underground parking spaces.
The expansion will also double the number of seats at the food
court, improve public access, and landscape portions of the pro-
perty. It will be completed in late 2012.
Topshop opened at Bay Yorkdale Mall
Topshop and Topman have opened their frst fagship store in Oc-
tober 2011, at the Bay Yorkdale Mall. Topshop offcially opened the
doors to its fagship store in partnership with The Hudsons Bay
Company. The new store has 1,350 square metres of retail space,
and covers two foors. Tiffanys Bloor Street, Toronto
Joe Fresh Opening Queen Street, Toronto
431
Intermix Store Bloor Street West, Yorkville Toronto
Victorias Secret has opened frst store in Toronto
Victorias Secret, the US-based mega lingerie chain known for its
sexy catalogues and nearly naked fashion shows, has fnally come
to Canada. It opened its frst Toronto store in August 2011, at York-
dale Shopping Centre. Brazilian beauty Adriana Lima, at 29 one
of the oldest and longest-serving of the Angels, wielded the over-
sized scissors to cut the hot pink ribbon. They present their new
concept brand on a 929 square metre sales area.
7 For All Mankind expands worldwide
7 For All Mankind, the Los Angeles-based premium denim-lifestyle
brand, continues its retail expansion in Canada with the opening
of its frst store in the Toronto area at Yorkdale Shopping Centre
in August 2011. This is the second 7 For All Mankind retail store
in Canada, following the March 2011 opening of its Chinook Cen-
tre store in Calgary. The brand currently operates over 150 stores
worldwide.
J. Crew Big opening in Yorkdale Shopping Centre
Throngs of shoppers focked to Yorkdale Shopping Centre to peru-
se the fashion lineup at Canadas frst J. Crew store. As a long line
formed outside the store of those waiting to get in after it opened,
store staff handed out bottled water to people waiting in line at
the cash registers. Though J Crew has not announced its pricing
strategy for Canada, in-store prices are the same as the US dollar
prices listed on the companys website, which began offering a fat
rate US$ 9,95 on shipping to Canadians, and in its catalogue.
Yorkdale Shopping Center, Toronto
Topshop Yorkdale Shopping Center, Toronto
432
The 484 square metre store carries womens
merchandise only, though larger stores selling
also the companys mens line are expected
to open as the retailer rolls out an estimated
25 stores. J. Crew plans to open as many as
20 stores across Canada, including fve in the
next few years. Future locations could include
Torontos Eaton Centre and Vancouvers Robson
Street.
Victorias Secret Yorkdale Shopping Center, Toronto
J.Crew Yorkdale Shopping Center, Toronto
433
90
New York, Jeff Sutton paid Escada 25 million to
vacate the store
NEW YORK is the most populous city in the United States and
the centre of one of the most populous metropolitan areas in the
world. New York exerts a signifcant impact upon global commerce,
fnance, media, art, fashion, research, technology, education, and
entertainment. The home of the United Nations Headquarters, New
York is an important centre for international affairs and is widely
deemed the cultural capital of the world. The city is also referred
to as New York City or the City of New York to distinguish it from the
state of New York, of which it is a part.
With a population of 8,1 million distributed over a land area of just
305 square miles (790 square kilometres), New York is the most
densely populated major city in the United States. The New York
City Metropolitan Areas population is the United States largest,
estimated at 18,9 million people distributed over 6,720 square
miles (17,400 square kilometres), and is also part of the most po-
pulous combined statistical area in the United States, containing
22,2 million people. New York has the largest internet presence of
any location in the world; registering 7,1 billion search results as of
December 2011.
Fifty million tourists each year
Many districts and landmarks in New York City have become
well known to its approximately 50 million annual visitors. Times
Square, iconifed as The Crossroads of the World, is the brightly
illuminated hub of the Broadway theatre district, one of the worlds
busiest pedestrian intersections, and a major centre of the worlds
entertainment industry.
Other major destinations include the Empire State Building, Sta-
tue of Liberty, Rockefeller Center, luxury shopping along Fifth and
Madison Avenues and events, e.g. at Central Park.
Manhattans real-estate market is among the most expensive in
the world. Manhattans Chinatown incorporates the highest con-
centration of Chinese people in the Western Hemisphere. Unlike
most global rapid transit systems, the New York City Subway pro-
vides 24/7 service.
Skyline, New York
434
Fifth Avenue most expensive street in the world
The section of Fifth Avenue that crosses Midtown Manhattan, es-
pecially that between 49th Street and 60th Street, is lined with
prestigious shops and is consistently ranked among the most ex-
pensive shopping streets in the world.
Fifth Avenue store brings Apple 440 million dollar
per year
Apples two largest New York City retail stores are now known to be
some of the towns largest retail cash cows, with the 5th Avenue
fagship alone having drawn in US$440 million in one year.
Fifth Avenue, New York
Apple Fifth Avenue, New York
Rockefeller Center Fifth Avenue, New York
435
One of the reasons why the Apple Store on
Fifth Avenue may be doing better is that
less people shop in the SoHo area. The App-
le retail store on Fifth Avenue is also open
24 hours per day. Considering Apples reve-
nue for last year and the dollar fgure ear-
ned for this store, it comes out to roughly 1,
4 % of the total. Not bad for one store.
Tom Ford opens Bergdorf Goodman
outlet
The Texas-based luxury retailer Tom Ford
opened its frst US shop-in-shop for its
womens collection, at Fifth Avenues Berg-
dorf Goodman (a member of the Neiman
Marcus Group). Located on the third foor
right next to the well frequented shoe de-
partment, the 70 square metre shop, which
carries dresses, jackets, coats, handbags,
and shoes, was designed jointly by Tom
Ford and New York-based Studio Sofeld.
Stefano Gabbana and Domenico Dolce
Der neue Laden von Dolce & Gabbana wird Luxus pur sein, ein star-
ker Kontrast zur Massenware im Niedrigpreissegment. Die Desi-
gner Domenico Dolce und Stefano Gabbana zhlen einige Promis
zu ihren Kunden, darunter Madonna, Kylie Minogue und Angelina
Jolie.
Jeff Sutton zahlte Escada 25 Millionen US-Dollar fr die
Aufgabe des Ladenlokals
Kurz bevor Escada 2008 in Insolvenz ging, zahlte der Vermieter Jeff
Sutton Escada bereits die betrchtliche Summe von 10 Millionen
US-Dollar. Ausserdem wurde vereinbart, dass Escada am Tag des
Auszugs zustzliche 15 Millionen US-Dollar von Jeff Sutton er-
halten sollte. Genauso war Jeff Sutton zwei Jahre vorher mit dem
Escada-Chef Bruno Slzer verfahren, der vorher CEO von Hugo
Boss gewesen war. Damals ging es um den Laden, der inzwischen
von Armani angemietet ist.
Vermieter Coca-Cola verlangt 20 Millionen US-Dollar
Miete
Die Verkaufsfche neben Bregue und Omega an der Ecke der 55th
Street gegenber der Boutique von De Beers im Gebude des St.
Regis Hotels steht leer, seit Disney 2010 ausgezogen ist. Coca-Co-
la, der Eigentmer des Gebudes, zgert mit der Vermietung. Viel-
leicht soll dort ein Shop mit Coke-Merchandising-Produkten ent-
stehen, und da die Immobilie dem Unternehmen seit 1983 gehrt,
steht Coca Cola auch nicht unter Druck die Ladenfche sofort zu
vermieten. Als Miete wrden 20 Millionen US-Dollar im Jahr fr die
760 Quadratmeter des Ecklokals im Erdgeschoss verlangt. Dazu
kmen dann noch 2 700 Quadratmeter auf drei Etagen.
Laut Joe Sitt wird Takashimaya die Swatch-Miete im
Bergdorf Goodman Fifth Avenue, New York
436
Coca Cola Building Fifth Avenue, New York
Michal Kors takes over Kenneth Cole store at Rockefeller
Center
Michael Kors has fnally snagged a prime Fifth Avenue location at
Rockefeller Center. The fashion retailer has signed a 10-year lease
for the just-shuttered Kenneth Cole store in Rockefeller Centers
610 Fifth Ave., which also adjoins the Channel Gardens by 49th
Street. The shop has 420 square metres on the ground and a bit
less than 280 square metres underground for offces and storage.
Dolce & Gabbana lands Fifth Avenue store
Opposite of Henri Bendel, glam fashion powerhouse Dolce & Gab-
bana is making its frst foray into the heart of tony Fifth Avenue. The
Italian fashion house leased a massive 1,700 square metre store at
717 Fifth Ave., taking over the space from Escada, which will move
within the same building into smaller digs along 55th Street.
The stores are a portion of a retail condominium owned by deal
maestro Jeff Sutton and real-estate investment trust SL Green Re-
alty Corp. Sutton, who orchestrated both deals, previously moved
out Hugo Boss and installed Armani/AX in the north portion of the
space.
The 15-year Dolce & Gabbana lease could be valued at just under
US$ 300 million, sources said. While Dolce & Gabbana has a store
on Madison and its lower priced D&G line on Lafayette St., the de-
signing duo has never cracked the key luxury shopping stretch of
Fifth Avenue that runs from 57th St. to Rockefeller Center.
Rather than joining the mass retailer pricing, the new Dolce &
Gabbana store will be pure luxury. Designers Domenico Dolce and
Stefano Gabbana have attracted a following among celebrities, in-
cluding Madonna, Kylie Minogue, and Angelina Jolie.
Jeff Sutton paid Escada 25 million to vacate the store
Shortly before the insolvency of Escada in 2008, the landlord Jeff
Sutton already paid key money of US$10 million to Escada. Fur-
thermore, it was agreed that the landlord has to pay US$ 15 million
at the day when Escada moves out. It was exactly the same deal
Jeff Sutton did two years earlier with Bruno Slzer, CEO of Escada,
who was formerly CEO of Hugo Boss, with the store now occupied
by Armani.
Landlord Coca-Cola asks for 20 million dollar in rent
The space next to Breguet and Omega at the corner of 55th Street
opposite the De Beers boutique in the St. Regis Hotel building has
been empty since Disney moved out in 2010. Coca-Cola, the buil-
ding owner, has been reluctant to lease the space, which it has
been holding for a possible Coke store selling company merchan-
dise. As the company has owned the property since 1983, it has no
fnancial pressure to lease the space up. The asking rent is US$20
million per year for 760 square metres on the ground-foor corner,
plus 2 700 square metres on three levels.
Joe Sitt predicts Takashimaya will top Swatch rent at
Kushners 666 Fifth Avenue
A new tenant for the high-profle Takashimaya building at Fifth
Avenue will likely pay a ground-foor rent higher than the US$ 2,000
per square foot that Swatch recently signed for in a space nearby,
Pedestrian frequency of Manhatten, New York (per day in 1,000)
20 30 40 50 60 70 80+
Frequenz pro Tag
437
property owner Joseph Sitt, chairman and CEO of Thor Equities,
said in an interview with Insights from The Real Deal.
Swiss-based Swatch inked a 15-year deal that starts at about US$
2,000 per square foot in the retail condo at 666 Fifth Avenue owned
by Carlyle Group, Kushner Companies and Crown Acquisitions. Sitt
said there was no question he would get rents in the range of US
$2 500 per square foot. He added there were six tenants looking
seriously at the space in the 20-storey building.
Uniqlos Fifth Avenue store has priciest lease ever
New Yorks Fifth Avenue is claiming a city retail record: Japanese
clothier Uniqlo agreed to pay US$ 300 million over 15 years to bring
its affordable fashions to the worlds most expensive shopping
area. The space lies at 666 Fifth Ave. near 53rd Street.
Uniqlo Fifth Avenue, New York
Uniqlo Fifth Avenue, New York
438
The company will spend about US$ 20 million a year to lease the
8 300 square metre (about 89,000 square foot) space at 666 Fifth,
according to Cushmans Mendelson and Haim Chera, principal of
Crown Acquisitions. Mendelson represented the landlords in the
Uniqlo transaction.
The deal will be the highest aggregate amount paid to lease retail
space in New York City, beating Gucci Group NVs US$ 16,5 million
in annual rent for about 45,000 square feet at Trump Tower three
blocks north.
The landlords at 666 Fifth Ave. paid Brooks Brothers Inc. US$ 47
million in 2008 to vacate the space eight years before its lease ran
out.
Zaras parent invests US$ 400 million in Fifth Avenue
store
Spanish retailer Inditex SA said it bought the former NBA Store at
666 Fifth Ave. in Manhattan for US$ 324 million in a record deal for
a US retail property.
The company will make the 3,600 square metre storefront bet-
ween West 52nd and 53rd Streets into a fagship store for its Zara
clothing chain, Arteixo, Spain-based Inditex said today in a state-
ment posted on its website. The site was the home of a National
Basketball Association shop that sold team jerseys and other me-
morabilia.
The transaction values the space at about US$ 8,300 a square foot
(US$ 89 300 a square metre). That exceeds the US$ 8,000 a square
foot paid in 2008 for a 6,000 square foot retail outlet at 713 Madi-
son Ave., according to Real Capital Analytics Inc., a New York-based
company that researches commercial property sales worldwide.
The 1,8 billion dollar sales record on Fifth Avenue
The 41-storey tower that houses the store, completed in 1957 and
originally known as the Tishman Building, has been the site of two
other price records since 2007. Kushner Cos. paid US$ 1,8 billion for
the building that year, then a record for a single US property. Last
year, the parent of Japanese clothier Uniqlo rented retail space at
the building for 15 years for US$ 300 million, the most expensive
lease for a New York store.
Carlyle and Crown Acquisitions paid 525 million for a
stake in retail portion
Carlyle Group, the worlds second-largest private-equity frm, and
Crown Acquisitions paid US$ 525 million for a stake in the retail
portion of 666 Fifth Ave. in 2008, as real-estate values were sliding
during the credit crisis. That deal helped Kushner cover some of
the debt incurred in its 2007 purchase.
Kushners sale of the interest valued the retail space at US$ 6,187
a square foot (US$ 66,000 a square metre). Kushner kept a 51 %
stake in the retail segment after the transaction with Carlyle and
Crown, and retains 51 % of the remaining retail after Inditexs
purchase, said a person familiar with the structure who declined
to be identifed because the ownership breakdown is private.
Zara construction site Fifth Avenue, New York
666 Fifth Avenue, New York
439
Vacheron Constantin Madison Avenue, New York
Retailer Ted Baker strikes deal for fagship at 595 Fifth
Avenue
The British clothing retail company, Ted Baker, is opening a new
fagship store this summer at 595 Fifth Avenue. The shop has 1
115 square metres of retail space, covering three foors of the buil-
ding.
The retailer will replace Sprint, the previous tenant, which occupi-
ed the ground foor. The brand operates two other locations in New
York City at 107 Grand Street in SoHo and 32-34 Little West 12th
St. in the Meatpacking District. The lease to Ted Baker extends the
luxury portion of the avenue and completes the block from 49th to
48th Streets, which is the home of brands including Michael Kors,
Lacoste, Sephora and Aldo.
Marimekko fag ship on Fifth Avenue
The Finnish brand Marimekko, known for brightly-coloured printed
fabrics and simple styles used both in womens garments and in
home furnishings, has opened a fagship store on New Yorks Fifth
Avenue on 5 October 201. The store is specifcally at 200 Fifth Ave-
nue, 23rd Street with 360 square metres of retail space.
Madison Avenue is a north-south avenue in the borough
of Manhattan
Madison Avenue is a north-south avenue in the borough of Manhat-
tan in New York City, that carries northbound one-way traffc. It runs
from Madison Square (at 23rd Street) to the Madison Avenue Bridge
at 138th Street.
Herms Men, Hublot & Faberg Madison Avenue, New York
440
Streetplan Madison Avenue, New York
Between 57th Street and 86th Street, Madison Avenue is identifed
as the fashionable road. Most of the very well known fashion desi-
gners, jewellers and upper class hair salons are located in this area.
Some of the worlds most upscale boutiques are also located on Ma-
dison Avenue including Asprey, Baccarat, Bally, Chanel, Calvin Klein,
Christian Louboutin, Dolce & Gabbana, Jimmy Choo, Ralph Lauren,
Herms, DKNY, and many more. Madison Avenue is also a major art
gallery centre.
Brooks Brothers, the oldest retail clothier in America, is headquar-
tered and has its anchor at Madison and 44th Street. The Brazili-
an luxury brand, Victor Hugo, has a fagship store on 520 Madison
Avenue. Barneys New York also has their fagship store on Madison
Avenue at 60th Street. More new luxury retail stores than ever befo-
re opened in 2011.
Loro Piana opens on Madison Avenue
In November, the cashmere retail chain Loro Piana opened its lar-
gest fagship store on upper Madison Avenue in a 1 300 square
metre space. This is the companys 17th store in the US.
Roberto Cavalli opens New York store
In October, the Italian luxury retailer Roberto Cavalli opened a 325
square metre store on Madison Avenue at 63rd Street.
Hublot opens on Madison Avenue in New York
Hublot opened at Madison Avenue in February on nearly 300
square metres including a mezzanine for a more confdential sa-
lon lounge completely dedicated to the world of the Swiss watch
brand.
Ted Baker 5th Avenue, New York
441
The boutique enjoys an ultra-prestigious address, since the pre-
mises on 62nd are part of a historic Madison house dating from
the 19th century which is situated in a block encompassing the
grandest luxury houses.
Faberg brings its bejewelled eggs to Madison Avenue
High-end jewellery maker Faberg will open a store in Manhat-
tan for the frst time on Madison Avenue in the spring of 2012. The
store will be set among equally famous neighbours, with jewellery
houses such as Graff, David Yurman, Judith Ripka, Chopard, and
Hublot nearby, as well as fashion houses such as Herms, Herms
Men and Roberto Cavalli. The news follows the opening of a Faber-
g shop in London, the frst for almost a century.
Vacheron Constantins frst American shop
In September 2011, Vacheron Constantin opened its frst US shop
at Madison Avenue. This new boutique is the brands 28th shop as
Vacheron Constantin currently has boutique stores in cities such
as Geneva, Moscow, Shanghai, and Dubai.
Uptown Switcheroos: Escada, Valentino, Dolce and
Gabbana
Dolce and Gabbana will move to the former store of Escada at Fifth
Avenue in the spring of 2012. Escada has moved into Valentinos
space at Madison Avenue. The move is only temporary though, and
they will be opening up at their permanent location on East 55th
Street once the store is ready.
Valentino moved to the Regency Hotel on Park Avenue and will
move back to Madison Avenue near their old store in December.
House of Buccellati to open on Madison Avenue
After more than 40 years in New York at 46 East 57th Street, Ita-
lian jewellery designer Buccellati relocated to a new location at
810 Madison Avenue, which was formerly rented by Bonpoint. The
landlord is CIM Group. The transaction was made by Prudential
Douglas Ellimans Retail Group/Cushman & Wakefeld.
Bottega Venetas second Store in NYC
Bottega Veneta has announced the opening of a new store at Ma-
dison Avenue in Manhattan. The store, Bottega Venetas second in
New York City, represents the next step in the brands retail growth
and features an entirely new approach to the shopping experience
in an elegant boutique on 185 square metres of retail space.
French fashion house Cline new on Madison
December 2011 saw the opening of the new Cline fagship store
at 870 Madison Avenue. The 420 square metre space, which previ-
ously housed a temporary Dior store and, before that, Gianfranco
Ferrs boutique, has been completely redesigned by Peter Marino
to refect a new store concept inspired by new creative director
Phoebe Philo.
Italian luxury kidswear label Il Gufo lands on madison
Il Gufo, an Italian luxury label for children, opened its new Madi-
son Avenue boutique. The store takes up 45 square metres on two
levels. Like its neighbour to the south, Gucci Kids, it has been to
look crisp and elegant but still child-friendly, with bleached oak
Fogal Boutique Madison Avenue, New York
Bottega Veneta Madison Avenue, New York
442
foors and glass walls. Il Gufo has been carried by US stores like
Barneys and Saks for years, but theyre hoping to open more fag-
ships soon.
Perrin Paris 1893 to open store at 987 Madison Avenue
Luxury handbag purveyor Perrin Paris 1893 is making its New York
debut. The company, which is based in Paris and has its US fag-
ship location in Beverly Hills, California, signed a fve-year lease
for approx. 50 square metres at Madison Ave.
The asking rent for the space on the prime block occupied by the
Carlyle Hotel, between East 76th and East 77th streets, was US$
Tory Burch boutique, New York
11,750 a square metre. The new store will be
accessible both from the street and from
within the hotel. The 118-year-old retailer
plans to open for business in the frst quarter
of 2012. It replaces jeweller Edith Weber.
Designer lingerie boutique Journelle
opens new store in NYC
Luxury lingerie seller Journelle, which caters
to the modern woman, brought its expertise
and wide selection of lingerie to New Yorks
affuent Upper East Side when it opened its
fourth store at the end of November 2011.
Located at 1266 Third Avenue, the 112 square metre store is the
third Journelle outlet in New York City and was formerly rented by
Verizon.
Ascot Chang opens New York Store
After 20 years on 57th Street, the Hong-Kong-based tailor Ascot
Chang acquired a 465 square metre retail condominium space on
Central Park South to create a new fagship store in New York City.
Known for impeccable custom shirt tailoring, suits and accesso-
ries, Ascot Chang strives to imbue its retail architecture with those
same qualities.
Apple Grand Central Terminal Manhattan, New York
443
Il Gufo Madison Avenue, New York
Apples largest store at grand central is open
The new Apple store is 2,100 square meters large and located in
Grand Central Station. The lease was taken over for a keymoney
of US$ 5 million from the former tenant Charlie Palmers Metrazur
Restaurant. As the Grand Central Station is a state landmark go-
vernment approval was needed for the renovations which cost US$
2,5 million. The lease is approximately US$ 1 million per month.
The estimated number of persons passing through Grand Central
Station is 750,000 (it is believed, that half of it are tourists). The
store is Apples ffth in Manhattan, adding to its more than 350 re-
tail locations in 11 countries.
Mango open on 34th Street
Spanish retailer Mango has quietly soft-opened on 34th Street in
October 2011, adding more European fast fashion to a block that
already has H&M and Zara. Like its SoHo sister (and like other
Mangos worldwide), the new space is designed according to the
Japanese principle of Wabi-sabi, which emphasises austerity
and natural imperfection. That may sound highbrow for a Herald
Square store, but in practice, it translates to a simple, spare, and
rustic environment stocked with highly affordable clothes.
Christian Louboutin to open mens store in New York City
Famous shoe designer Christian Louboutin has decided to add a
mens store to his Meatpacking offerings, and in the spring of 2012,
he will open one around the corner from his womens store located
at 59 Horatio Street. The new shop on Washington Street between
Horatio and Gansevoort will be his second mens store in the world,
as he recently opened one up in Paris.
Nicholas Kirkwood will supply MePa with even
more high heels
Just what Meatpacking needs: more high heels! Next up to tackle
the neighbourhood is a Nicholas Kirkwood boutique at Washington
Street, which will open in early 2012.
After seven years of making shoes not so conducive to cobblesto-
ne, Kirkwood has decided to open its frst US store (the other is in
London), and fll all 140 square metres of it with shoes that look
like this.
Jay Godfrey opening frst retail store in Meatpacking
District
Early spring 2012 will mark the opening of the frst-ever Jay God-
frey store in New York at 800 block of Washington Street with 104
square metres of retail space. Situated at the base of the 95 Ho-
ratio luxury rental apartments, the boutique will join fashion retai-
lers Intermix and Vanita Rosa on Washington Street.
Bleecker Street connects Abingdon Square and the East
Village
Bleecker Street is a street in New York Citys Manhattan borough.
It is perhaps most famous today as a Greenwich Village nightclub
district. The street is a spine that connects a neighbourhood today
popular for music venues and comedy, but which was once a major
centre for American bohemia.
The Standard Hotel Meatpacking District, New York
444
Bleecker Street connects Abingdon Square, the intersection of
Eighth Avenue and Hudson Street in the West Village, to the Bowe-
ry in the East Village.
Jean-Michel Cazabats Bleecker store fnally opened
It has been a while since the news reported that Jean-Michel Caz-
abat would be opening a store on Bleecker Street. Jean-Michel
Cazabats opening of the frst ever store in New York was in Octo-
ber 2011 at 350 Bleecker Street in New York with retail space co-
vering 167 square metres. Cazabat himself is very excited: I used
to live in the West Village just two blocks away, and its one of the
best streets for fashion retail. I think its perfect for us. People love
to walk around here, and the foot traffc is very good you cant
miss the store. The former tenant was Pure & Dark (grocery).
Jimmy Choo expands retail presence
Located on Bleecker Street in the West Village, the 1 500 square
metre store was set in a listed townhouse in August 2011. This is
the brands third location in Manhattan, adding to the original US
stores on Fifth Avenue at 51st Street and Madison Avenue.
The British luxury brand Jimmy Choo expands its retail presence
in the United States with three new stores opening this August:
Jean-Michel Cazabat Store Bleecker Street, New York
New York City Bleecker Street, Los Angeles Beverly Center, and
Las Vegas Crystals at City Center. These three markets were the
frst markets where Jimmy Choo established its US retail presence
more than ten years ago, and are also the top three performing
American markets for the brand.
Nars Store opens on Bleecker Street
Makeup artist Franois Nars entire family of iconic colours was as-
sembled into sleek, graphic lines for the opening of the companys
frst fagship store in the West Village.
It has been a long time coming: Nars looked for years before he
found the right space a pre-war storefront just up the street from
designer and long-time friend Marc Jacobs own Bleecker Street
boutique and the timing could not be better. With his recent re-
turn to the runway (he headed up makeup at Jacobs show for the
third season in a row), he was in need of a home base.
For the task of designing the 525 square foot space, Nars tapped
art director Fabien Baron who, not-so-coincidentally, designed
the companys original black-and-white logo back in 1994.
445
Maje and Sandro new on Bleecker Street
French retailers Maje and Sandro have been hinting at opening up
shop in New York for nearly a year now. Back in April, a bunch of
locations from SoHo to even Brooklyn were thrown about, but
logically, the two brands have chosen the Parisianesque West Vil-
lage.
Postered plywood, covering two former restaurant spaces on the
corner of Bleecker and Bank Streets, is announcing fall 2011 ope-
nings for the two brands. Maje even features a breezily sauntering
spokesmodel and collab-designer Vanessa Traina on the tempora-
ry banner. With Zadig & Voltaire and Comptoir des Cotonniers al-
ready on Bleecker and Pierre Hardy located over on Jane Street,
the West Village may be quickly morphing into a little Paris.
Soho (South of Houston Street) is an extremely trendy Manhattan
neighbourhood that extends from Houston Street at its northern
end to Canal Street at its southern end and lies just north of the
neighbourhood known as Tribeca (Triangle Below Canal Street) in
the western section of Manhattan. Just north of Soho is NYU (New
York University), Washington Square Park, Greenwich Village and
Nars Boutique Bleecker Street, New York
Maje Bleecker Street, New York
446
Soho Buildings Manhatten, New York
an area known as Noho (North of Houston Street), whose status
as a separate neighbourhood is a matter of dispute.
Etros second New York Boutique opens in SoHo
After purchasing the space at 89 Greene Street three years ago
and somewhat optimistically posting Coming Soon posters
throughout 2009, high-end label Etro was fnally ready to open its
doors in 2011. After much speculation and renovation, the bright,
psychedelic-inspired Etro opened on Friday, February 25. The 360
square metre location is part of an expansion of the brand that ori-
ginated on Madison Avenue, their second location in Manhattan.
Mulberrys third New York store now open
British luxury brand Mulberrys third and largest New York store
opened in Soho at Spring Street (two other stores are located on
Madison Avenue and Bleecker Street). The new store is impressive
not only in size but in decor, wooden foors and library walls with
Etro Greene Street, New York
447
over 8,000 hardcover books creating a warm, airy, yet sophistica-
ted feel.
The store is also the frst location in the US to feature all Mulber-
ry product lines including ready-to-wear, handbags, accessories,
luggage, and shoes, and, of course, it was celebrated with a party
at the New York Fashion Week.
Tiffany & Co. to open third New York City store
Upscale jewellery chain Tiffany & Co. will open a third store in New
York City in 2012. The new store is set to open in September 2012
in Manhattans trendy SoHo district, a destination popular with
tourists, whom Tiffany said last quarter played a major role in its
strong results in New York and elsewhere. The store will occupy a
foor-through space that combines two locations Greene Street
and Wooster Street in the heart of the SoHo-Cast Iron Historic
District.
The SoHo store opening will coincide with Tiffanys 175th anni-
versary and will be 650 square metres, making it larger than the
average of its planned new stores. Last year, the fagship store on
Manhattans Fifth Avenue, which is 4,200 square metres, accoun-
ted for eight percent of company-wide sales. Its other current New
York location is in the Wall Street area.
Gap opens Village outlet
The young-fashion retailer Gap opened a 280 square metre store
on lower Broadway between Spring and Broome, while Gap opened
two more than 300 square metre Athleta stores, one on Columbus
Avenue and the other on Third Avenue. Gap plans to open up to fve
Athleta stores by 2013.
Aritzia
Aritzia opened its frst Big Apple store in a 1,000 square metre
space at the corner of Broadway and Spring Street, thus adding a
new fagship to its existing feet of stores in cities such as Seattle,
San Francisco, and Chicago.
Alexander Wang goes SoHo
The famous designer Alexander Wang launched his frst stand-alo-
ne store in New York City at Grand Street in SoHo in February 2011.
The boutique has a retail space of 325 square metres.
Piero Guidi makes US debut with SoHo outlet
Piero Guidi made its US debut by opening a 160 square metre store
on SoHos West Broadway. The brand, which is sold in more than
500 multi-brand stores in Italy and elsewhere in Europe, now has
four stand-alone stores outside Italy, in addition to its outlets in
Hong Kong, China, and Japan.
The Mall at the World Trade Center
The Mall at the World Trade Center was a shopping centre loca-
ted in the concourse area of the World Trade Center before it was
destroyed on 11 September 2001. Prior to 11 September, the mall
was leased to The Westfeld Group, who had intended to rename
the mall Westfeld Shoppingtown World Trade Center, and embark
on a major expansion and renovation programme. Plans called for
the addition of 200,000 square feet (19,000 square metres) of new
Etro Greene Street, New York
mall space and a few well-known sit-down restaurants.
In January 2008, Westfeld re-acquired the now re-developed pro-
perty along with the city of New York and will be in the 1 World
Trade Center complex.
The future Mall at the World Trade Center, currently under construc-
tion, calls for roughly 500,000 square feet (46,000 square metres)
of retail space, which will once again make it the largest shopping
mall in Manhattan. Although the new mall will only be spread over
roughly one half of the original malls footprint, the mall will be
double-level, whereas the original mall was a single-level mall. Th-
ree additional levels will also exist above-grade on the lower foors
of Tower 2 and 3, and Tower 4 will house four above-grade levels.
According to developer Larry Silverstein:
The design we have developed with the Port Authority calls for
not only rebuilding the retail space that was lost on 9/11, but going
above and beyond what was there before. We want to create a real
Aritzia Broadway/Ecke Spring Street, New York
448
destination for visitors and shoppers, a centre that will share many
of the attributes of the citys great retail hubs.
Construction on the 1 World Trade Center portion of the mall began
in mid-2007. The mall is expected to open in 2012.
Columbus Circle Mall
The Shops at Columbus Circle is an urban shopping mall in the
Time Warner Center in Manhattan, New York City a complex of
skyscrapers that was completed in 2003. It is located at Columbus
Circle, next to the southwestern corner of Central Park.
Piero Guidi West Broadway, New York
The Construction Towers of the New World Trade Center, New York
The Mall in the World Trade Center, Manhattan New York
449
It includes mostly upscale stores selling luxury
brands, including Armani, Davidoff, LOccitane,
Hugo Boss, Tumi, Coach, Cole Haan, Thomas
Pink, Tourneau, and Stuart Weitzman. The mall
also has several restaurants such as the Miche-
lin 3-star Per Se, Masa, allegedly the most ex-
pensive restaurant in New York or the A Voce.
Manhattan Mall
The Manhattan Mall, one of the few traditional
indoor malls in New York City, is located at 33rd
Street and Sixth Avenue. There are entrances to
the 34th Street Herald Square subway station
and the 33rd Street Path station, on the second
basement level.
This mall is a high-traffc shopping venue and
has had A&S and Sterns as anchor stores in
the past. Currently, the major anchor store is
JC Penney.
View from the Columbus Circle Mall, New York
Manhatten Mall, New York
450
Manhatten Mall, New York
Venture bought the building in 1999 for US $ 135 million and sold
it to Vornado Realty Trust in 2006 for US$689 million. The mall is
located in the high-rise building formerly used by the Gimbels fag-
ship store, which closed in 1986.
After a renovation, it reopened as A&S Plaza in 1989. It was origi-
nally 13 levels high, but diffcult access to upper foors made the
whole mall a fnancial failure. All but two of the street level were
converted to offce space, soon after Sterns closed.
In 2007, JCPenney announced that it would open a 150,000 square
foot (14,000 square metre) store at the mall, its frst in Manhattan.
Retailers and the food court were closed to make way for the new
store and the direct underground entrance to the Subway and Path
was temporarily closed. The store was opened in 2009.
451
LAS VEGAS is the most populous city in the US state of Nevada and
is also the county seat of Clark County, Nevada. Las Vegas is an
internationally renowned major resort city for gambling, shopping,
and fne dining. The city bills itself as The Entertainment Capital of
the World, and is famous for its casino resorts and associated en-
tertainment. A growing retirement and family city, Las Vegas is the
28th most populous city in the United States, with an estimated
population by the US Census Bureau of 584,000. The population
estimate of the Las Vegas metropolitan area was 1,95 million.
The Las Vegas Strip is an approximately 4,2-mile (6,8-kilometre)
stretch of Las Vegas Boulevard in Clark County, Nevada, adjacent
to, but outside the city limits of Las Vegas proper. The Strip lies
within the unincorporated townships of Paradise and Winchester.
Most of the Strip has been designated an All-American Road.
Many of the largest hotel, casino and resort properties in the world
are located on the Las Vegas Strip. Nineteen of the worlds 25
largest hotels by room count are on the Strip, with a total of over
67,000 rooms. One of the 19, the Las Vegas Hilton, is an off-Strip
property, but is located less than 0,5 miles (0,8-kilometre) east of
the Strip.
Fashion Show Mall is a shopping mall located on the Las Vegas
Strip and is owned by the General Growth Properties Inc. With 1,9
million square feet (175,415 square metres) of space, this is one
of the largest enclosed malls in the world. The mall has over 250
stores, seven anchors, an elevated stage, a fashion runway and
The Cloud.
Fashion shows take place in the mall every Friday, Saturday, and
Sunday. Damien Duduaco, Justin Thomas, Robert Flynn, Mike Mil-
ler, Keith Vass, and other local models are free to watch. During the
Winter months, the mall has scheduled snow storms inside.
91
Las Vegas with biggest H&M worldwide on
5 000 square metres
.
The palazzo is a luxury hotel and casino resort situated between
Wynn and The Venetian on the Las Vegas Strip in Paradise, Ne-
vada, a suburb of Las Vegas. It is the tallest completed building
in Nevada (although the Fontainebleau Resort Las Vegas, who-
se construction is currently stalled due to fnancial problems, is
already taller). The hotel and casino are part of a larger complex
comprising the adjoining Venetian Hotel and Casino and the Sands
Convention Center, all of which are owned and operated by the Las
Vegas Sands Corporation.
Lamborghini Las Vegas
Lamborghini Las Vegas is the second authorised dealer in the Las
Vegas area, featuring displays of exotic automobiles from auto-
makers including Lamborghini, Bugatti, Spyker, Saleen, and Koe-
Las Vegas by sunrise
Fashion Show Mall, Las Vegas
452
nigsegg. The 20,000 square foot (1,900 square
metre) showroom was decorated with Italian-
imported marble and tile fooring, rich leather
wall coverings, and vibrant artwork.
Non-buying guests of the resort are granted
admission to the showroom for 10 dollar, while
children aged fve and under receive free admis-
sion when accompanied by a paying adult. Ad-
mission to the showroom includes a Lamborg-
hini Las Vegas lanyard, souvenir access pass,
and a discount at the worlds frst complete
Lamborghini accessories boutique on purcha-
ses over 100 dollar.
The Shoppes at The Palazzo
Features upscale boutique stores from the li-
kes of Van Cleef & Arpels, Ralph Lauren, Jimmy
Choo, Fendi, Cole Haan, Piaget, Diane von Furs-
tenberg, Chlo, Bottega Veneta, Bulgari, Michael
Kors, Burberry, Christian Louboutin, Catheri-
ne Malandrino, Anya Hindmarch, Charriol, and
The Grand Canal Shoppes, Las Vegas
The Palazzo Las Vegas
453
others. It also features an 85,000 square foot (7,900 square metre)
Barneys New York store.
The grand canal shoppers is an 500,000 square foot (46,000
square metre) upscale shopping mall inside The Venetian Hotel &
Casino and The Palazzo on the Las Vegas Strip in Paradise, Neva-
da.
The mall was opened along with the Venetian in 1999. The mall
has indoor canals, where gondolas take people around the mall.
The mall is anchored by a fagship high-fashion Barneys New York
store, and contains many designer and upscale boutiques. Live
performances can be found throughout the mall. As of 2008, the
mall was seeing 20 million visitors a year, among the highest in the
country.
The Forum Shops at Ceasars is a 636,000 square foot (59,100
square metres) luxury mall connected to Caesars Palace on the
Las Vegas Strip in Las Vegas, Nevada.
Built as an extension wing of the main hotel, the mall now fronts on
The Strip. It is one of the most successful high-end shopping malls
H&M Caears, Las Vegas
The Forum Shops at Caesars, Las Vegas
454
in the United States and the highest grossing mall in America, with
higher sales per square foot than Rodeo Drive in Beverly Hills. The
venue includes more than 160 shops and haute couture boutiques,
as well as eleven gourmet restaurants from names such as Bobby
Flay and Wolfgang Puck.
The Forum Shops at Caesars is a top celebrity-sighting spot in Las
Vegas, attracting various movie, sports and music celebrities.
Measuring 55,000 square feet spread over three levels, the new-
ly opened H&M store at the Forum Shops at Caesars in Las Vegas
is the biggest in the world. Offering womens, mens and childrens
clothing, shoes and accessories, H&M Forum Shops at Caesars car-
ries the Swedish retailers whole line of merchandise. Las Vegas is
already home to two H&M locations one at Town Square and one
at the Miracle Mile Shops, making this the third location in the city.
Miracle Mile Shops is a 475,000 square foot (44,129 square me-
tres), 1,5-mile (2,4-kilometre) long enclosed shopping mall on
the Las Vegas Strip in Paradise, Nevada. It is home to more than
140 stores and 15 restaurants. Synonymous with retail districts
throughout the country, the name connotes a shopping environ-
ment and also alludes to the Miracle Mile district, as the casino
renovates its image to a Los Angeles themed resort.
The Miracle Mile Shops, Las Vegas
The Crystals Mall, Las Vegas
455
The 300-million-dollar mall opened with the reconstructed Alad-
din Hotel in August 2000 as the Desert Passage mall. It was built
and operated by Trizec Properties. The mall had a Moroccan theme
to match the adjoining Aladdin Hotel. The shopping complex featu-
red an hourly indoor thunderstorm.
The mall was sold in 2003 to Boulevard Invest LLC owned by In-
vestcorp, RFR Holding LLC, and Tristar Capital. To match the con-
version of the Aladdin to a Planet Hollywood, the Desert Passage
was renovated and adopted a new Los Angeles theme, being called
Miracle Mile Shops.
The Crystals, also known as Crystals at CityCenter and Crystals
Retail District, is CityCenters 500,000 square foot (46,000 square
metre) shopping mall and entertainment district that features fa-
shionable clubs, gourmet restaurants, retailers, galleries, inciden-
tal offces and support areas.
The retail district was designed by Studio Daniel Libeskind and in-
terior architecture by Rockwell Group. For the interior architecture,
the Rockwell Group created an experiential environment that com-
plements the overall city scene.
Crystals is a magnifcent gathering place with an interactive at-
mosphere set within an abstract 21st-century park. The unprece-
dented collection of renowned retailers, including Louis Vuitton,
Gucci, Tiffany & Co, Roberto Cavalli and Tom Ford, paired with one-
of-a-kind galleries from artists such as Dale Chihuly, and signature
restaurants from Wolfgang Puck and celebrity restaurateur Eva
Longoria redefne the traditional shopping experience.
City Center, Las Vegas
The Crystals, Las Vegas
456
92
Los Angeles hot new opening
Lanvin lands on Rodeo Drive
.
LOS ANGELES (Spanish for city of the angels), or L.A. for short,
is the largest city in California, and is located on the Pacifc Ocean
and the Los Angeles River.
With 3,8 million inhabitants, L.A. is the second largest city in the
US after New York. The population of the Los Angeles conurbati-
on is 11.8 million, the L.A. metropolitan has just under 13 million
inhabitants, and the greater Los Angeles area has a population of
17,8 million, making it the worlds 17th
largest metropolitan area. Residents of
L.A. are referred to as Angelenos.
Beverly Hills, a city embedded in west
L.A., has 35,000 inhabitants and a sur-
face area of 14,7 square kilometres. The
city is known for the numerous promi-
nent American actors, directors and aff-
luent Angelinos who make their homes
there.
Rodeo Drive is a Beverly Hill street com-
prising North and South Rodeo Drive,
with Wiltshire Boulevard the dividing L.A. by dawn
Rodeo Drive Beverly Hills, Los Angeles
457
line between them. Rodeo Drive, which is 2 miles (3,2 kilometres)
long, extends from Sunset Boulevard in the north to South Beverly
Drive in the south and is primarily known for its high concentration
of international luxury retailers that sell pricey goods.
Rodeo Drive is also home to the worlds most expensive shopping
malls, including The Rodeo Collection (421 North Rodeo Drive),
whose stores, on fve above and below ground levels, include Eres,
Herv Leger, La Perla, and Stuart Weitzman, as well as cosmetic-
surgery clinics.
And then there is Two Rodeo, which was built in the early 1990s
and where boutiques from Versace, Porsche Design, Breguet, Ge-
org Jensen, Lalique, Jimmy Choo, Tiffany & Co. can be found.
With its fountains, Italian piazza, Spanish staircase and balconies,
Two Rodeo Drive (also known as Via Rodeo), which runs parallel to
the beginning of Rodeo Drive between Dayton Way and Wilshire
Boulevard, is reminiscent of a cobblestone pedestrian shopping
zone in Europe. Right next door on Wilshire Boulevard is the re-
nowned Hotel Beverly Wilshire.
Hot new opening: Lanvin lands on Rodeo Drive
Its here! Its here! No longer does the Golden State have to be jea-
lous of freezing New Yorkers, septuagenarian Floridians, or party-
crazy Las Vegans Rodeo Drive got its frst Lanvin boutique in Ja-
nuary 2011, making it the fourth Lanvin boutique in the country. The
intimate 400 square metre store houses both mens and womens
collections, as well as those covetable Lanvin accessories.
Chanel Rodeo Drive, Beverly Hills
The Rodeo Collection Rodeo Drive, Beverly Hills
458
Pomellato opens largest boutique in
Beverly Hills
Italian jeweller Pomellato has opened its
largest boutique to date, a 480 square met-
re, two-storey space at Rodeo Drive here,
between Valentino and Dolce & Gabanna.
Following US locations in New York, Bal Har-
bour, Fla., and Chicago, the store, framed by
a stone facade emulating Roman arches, is
the frst to house both the signature collec-
tion and its younger brand, Dodo.
Tom Ford on Rodeo Drive
The frst of 28 locations worldwide to offer
womenswear, Tom Fords new Rodeo Drive
destination introduces a new retail design
concept for the brand. Ford and long-time
collaborator William Sofeld re-interpreted
the two-storey, 850 square metre location to
appeal to the female consumer, resulting in
light-flled spaces, pale grey, high-gloss sil-
ver and blue-grey marble foors.
Lanvin Rodeo Drive, Beverly Hills
Tom Ford Rodeo Drive, Beverly Hills
459
The Rodeo Drive boutique houses a perfumery, where Tom Ford
Beauty and Tom Ford Private Blend fragrances line polished chro-
me shelves. Up a mirrored staircase, one will fnd the full collection
of the recently launched womenswear, divided into three salons:
handbag and shoes, eveningwear, and daywear. The mens collec-
tion is housed on the ground foor.
The Beverly Hills Center is a monolithic eight-storey structure lo-
cated at the edge of Beverly Hills and West Hollywood, California,
between La Cienega and San Vicente boulevards.
Anchor tenants include Macys,and Bloomingdales. While the mall
features staples of American retail such as Banana Republic,
Victorias Secret, and Forever 21 it is also home to several high-
end designer boutiques, including Armani Exchange, Just Cavalli,
D&G Dolce & Gabbana, Louis Vuitton, Calvin Klein, Ben Sherman,
Diesel, Gucci, Prada, The Ferrari Store, Burberry, Fendi, and Hugo
Boss.
Along with the retail and designers boutiques, Beverly Center of-
fers a full food court, guest service desk, valet parking, and taxi
services. The mall also has several restaurants including Pinkberry
and The Grand Lux Cafe. The malls Rooftop Terrace offers sweeping
views of the Hollywood Hills, Downtown Los Angeles, and the Los
Angeles Westside.
The Centers externally-visible escalators previously resembled
similar escalators at Centre Pompidou in Paris, France; however,
the escalators underwent renovation in 2007 and now have a si-
gnifcantly different, highly enhanced appearance, which affords
visitors a signifcantly expanded view of the surrounding area and
the hills to the north.
Robertson Boulevard is a street in Los Angeles that also passes
through the incorporated cities of West Hollywood, Beverly Hills,
and Culver City. Robertson Boulevard is a major north-south tho-
roughfare on the Westside of Los Angeles.
The northern part of the street in West Hollywood and Beverly
Hills is a trendy tree-lined shopping district. Robertson Boulevard
has recently become a haven for celebrities and paparazzi. This
is partially due to a large infux of unique boutiques and designer
clothing & jewellery stores such as Agnes B, Curve, Lisa Kline, Kit-
son Boutique, Beach Bunny Swimwear, and Erica Courtney (right
Beverly Center, Beverly Hills
460
next door to The Ivy), which is a mecca for many celebrity shoppers.
In addition, several popular celebrity-infused eateries are located
on Robertson Boulevard, such as The Ivy and Newsroom Cafe. The
Kabbalah Center is also located on the street.
Sunset Boulevard is a street in the western part of Los Angeles
County that stretches from Figueroa Street in downtown Los An-
geles to the Pacifc Coast Highway at the Pacifc Ocean in the Pa-
cifc Palisades. The street is an icon of Hollywood celebrity culture
and the phrase Sunset Boulevard is enduring shorthand for the
glamour associated with Hollywood.
Approximately 24 miles (39 kilometres) in length, the famous
boulevard roughly mimics the arc of the mountains that form the
northern boundary of the Los Angeles Basin. From downtown Los
Angeles, it heads northwest, to Hollywood, through which it travels
due west for several miles before it bends southwest, on course to
the Pacifc.
The best-known section of Sunset Boulevard is probably the Sun-
set Strip in West Hollywood, which is a centre for nightlife in the
Los Angeles area. The portion of Sunset Boulevard from the city
limits of Beverly Hills to its western end was at one time named
Beverly Boulevard.
Hollywood Boulevard, West Hollywood Los Angeles
The Standard Hotel Sunset Boulevard, West Hollywood Los Angeles
461
93
Mexico City, luxury street Avenida Presidente
Masaryk established
.
Mexicos capital, MEXICO CITY, is a federal state in its own right,
with 8,8 million inhabitants. The greater Mexico City area (Zona
Metropolitana del Valle de Mxico, or ZMVM) has a population of
20 million, thus making Mexico City the worlds largest metropoli-
tan area. Most of the citys population growth is provoked by mig-
ration, as Mexico Citys birth rate is only 1,7.
Mexico City offers an immense and varied consumer retail market,
with thousands of options for everything from the very basic foods
to ultra high-end luxury goods.
Hundreds of modern retail shops and a large number of
shopping centres
There are hundreds of modern retail shops throughout the city.
There is also a number of large shopping centres and malls, inclu-
ding Santa F mall in the Santa F district with several department
stores and over 300 retail stores, restaurants and cinemas. Others
include Plaza Universidad, Plaza Satlite, Galeras Coapa, Parque
Delta, Parque Lindavista, Pabelln Polanco, Pabelln Bosques,
Mundo E, Perinorte and Plaza Lindavista, with anchor stores such
Mexico-City by Night
Palacio de Hierro Santa F, Mexico-City
462
as El Palacio de Hierro, Liverpool, Sanborns, Sears, and Fbricas
de Francia.
The luxury Punta Norte Outlet Mall
The Punta Norte Outlet Mall is located north of the city and inclu-
des many upscale outlet stores for brands such as Max Mara, Sal-
vatore Ferragamo, Hugo Boss, Scappinio and Zegna.
Well-known Mexican boutique brands, such as Pineda Covalin, La
Hamaca y el Rebozo and Soho, are available in most upper-end
shopping areas.
Most modern shopping centres in Latin-America
Centro Coyoacn, Santa F, Perisur, Antara Polanco, and boutique
malls Arcos Bosques and Altavista 147 are amongst the most mo-
dern and swank in Latin America. Top-end department stores in-
clude El Palacio de Hierro and Saks Fifth Avenue (whose store at
Santa F mall is one of only three outside the US).
Plaza Satlite mall is Latin Americas highest proft shopping ve-
nue. For a more bohemian ambiance, the neighbourhoods of Con-
desa, Coyoacan and San ngel offer excellent outdoor shopping
and dining experiences.
The luxury market in Mexico
In addition to the extensive Santa F mall with Saks and nume-
rous luxury boutiques, Antara Polanco is a high-end mall in Polan-
co with restaurants, cinemas, and boutiques, including Burberry,
Longchamp, Just Cavalli, Etro, Emporio Armani, Brooks Brothers,
Thomas Pink, Hackett and Coach.
Altavista 147 is a small shopping centre in the southern neighbour-
hood of San ngel, with Louis Vuitton, Salvatore Ferragamo, Caro-
Altavista 147 Mall, Mexico-City
Galerias Insurgentes, Mexico-City
463
lina Herrera, Max Mara, Hugo Boss the Mexican luxury silversmith
Tane. The mall is located on Avenida Altavista, which houses many
other high-end retailers, focusing on furniture shops and interior
decorators, restaurants, and silversmiths such as Christofe.
Col. Del Valle one of the largest residential colonies pres-
tigious of Mexico City
Col. Del Valle is famous for its large green areas, parks, monu-
ments, department stores, boutiques, K-Fe (cafeterias), Holiday
Chocolate, exclusive restaurants scattered throughout the colony,
with two luxury shopping malls, Galeras Insurgentes and Centro
Coyoacn.
The two shopping centres contain the large department stores El
Palacio de Hierro and Liverpool, and these two contain the most
exclusive boutiques like Armani, BCBG Max Azria, Burberry, Cha-
nel, DKNY, Herms, Lancme, Liz Claiborne, Longchamp, MaxMara,
Oscar De La Renta, Purifcacin Garca, and Salvatore Ferragamo,
to mention some boutiques, jewellery such as Bulgari, Cartier, Lon-
gines, Marc Jacobs, Michael Kors, Rolex and Swarovski, for some
dimensions. The neighbourhood also houses car dealerships for
Alfa Romeo, BMW, Ferrari, Lamborghini, Maserati, Mercedes Benz,
Porsche and many others. Restaurants such as Bellini, the only re-
volving restaurant in the country and known as the biggest revol-
ving restaurant in the world and Suntory are known to be the most
exclusive restaurants in all of Mexico.
Arcos Bosques new shopping complex
Arcos Bosques is a relatively new shopping complex in the na-
mesake business complex in the upscale Bosques de las Lomas
neighbourhood, near Santa Fe. The complex hosts scores of res-
taurants, including a branch of Nobu, and smart shops including
Edmond Frette, Marc Jacobs, Thomas Pink, and Salvatore Ferra-
gamo.
Avenida Presidente Masaryk in Polanco
Most of the citys luxury boutiques are located on Avenida Presi-
dente Masaryk in Polanco. Here, stand-alone shops include Louis
Vuitton, Bulgari, Cartier, Chanel, Herms, Frette, Ermenegildo Ze-
gna, Etro, Brioni, Canali, Corneliani, Chopard, Gucci, Marc Jacobs,
Tiffany & Co. and Roberto Cavalli. Other stores include European
furniture retailers Roche-Bobois, Natuzzi and Kartell. On smaller
side streets, one can fnd stores such as a luxury French book pu-
blisher Assouline, Adolfo Dominguez and Mitchell Gold + Bob Wil-
liams.
Brioni Opens outpost in Mexico City
Brioni breaks new grounds as it opens its frst ever boutique in Me-
xico. Located at Avenida Presidente Masaryk, the most exclusive
area of the city, the new Brioni boutique is spread over two foors
and measures 450 square metres.
The new boutique in Mexico City follows the recent openings in
Barcelona, Beijing, Shanghai, and Tokyo, with more locations ex-
pected to open in the rest of 2010.
Galerias Insurgentes, Mexico-City
Arcos Bosques Mexico-City
464
Herms to expand further in Latin America focusing on
Mexico and Brazil
In an interview to AFP, Patrick Albaladejo, Vice President of Her-
ms, has spoken about his companys plans to further expand in
Latin America and creating regional headquarters in Sao Paolo.
With eight stores in Latin America (four in Mexico, one in Brazil,
one in Argentina, and one in Panama), Herms will primarily focus
on development in Mexico and Brazil. A second boutique in Sao
Paolo is a priority for the next three to four years.
Salvatore Ferragamo expands in South America
The plan to expand in South America of Salvatore Ferragamo is set
to open ten mono-brand stores and twelve shop-in-shops (cor-
ners) by 2015, targeting Colombia, Chile, Peru. Ferragamo opened
its frst mono-brand franchise earlier this year in Peru, in the ca-
pital city of Lima.
The expansion will bring Ferragamos presence from 84 doors (at
present) to 106 doors. Currently, Ferragamo operates 19 mono-
brand stores in South America, seven in Mexico, four in Brazil, and
the rest in Chile, Colombia and Argentina.
Jaeger-LeCoultre opened new boutique in Mexico, the
40th in the world
In July 2011, Manufacture Jaeger-LeCoultre opened its frst bou-
tique in Mexico City. With this new location and along with the re-
cent inaugurations in Macau and Hong Kong, Jaeger-LeCoultre will
now have 40 boutiques worldwide.
With a space of over 120 square metres, the new boutique is the
largest in Latin America and will become a place of numerous en-
counters for collectors and lovers of fne watchmaking.
Pal Zileri new opening
Pal Zileri continues to grow on the international market. The Vicen-
za-based brand, symbol of Made in Italy excellence in the mens-
wear sector, conquers another small piece of the Americas. This is
in Mexico City, where the Italian company already boasts a strong
presence, with six single-brand and multi-brand stores distributed
throughout the capital city.
The recently inaugurated seventh sales point is located in a new
corner inside the Antara Shopping Mall. The space of around 80
square metres is dedicated entirely to the Pal Zileri Lab line, which
with its young, innovative and simultaneously elegant style, is per-
Brioni Avenida Presidente Masaryk, Mexico-City
Salvatore Ferragamo Avenida Presidente Masaryk, Mexico-City Jaeger-LeCoultre, Mexico-City
465
fectly suited to the modern environment of
large shopping malls.
Damiani opened fagship store
On the wake of a good period, the expansi-
on continues of Damiani that opened a new
boutique in the Palacio de Hierro Interlo-
mas department store in December 2011.
The new fagship store offers the opportu-
nity to admire and buy the most represen-
tative Made in Italy collections of the brand,
consolidating its presence in the American
market and so placing next to the new store
those of Los Angeles, New York, Honolulu,
and Monterrey.
Seophora plans to open additional
stores throughout Mexico in 2012
Beauty retailer Sephora has opened an un-
derground, 5,400 square foot store in An-
tara Fashion Hall. The retailer partnered
with Grupo Axo on the store, with a second
Mexican location scheduled to open in mid-
November in the Paseo Interlomas Mall.
Shoppers enter the Antara Mall space, which
was designed by a joint Mexican and Ameri-
can team through a large circular stairway
descending from a mall entrance above. A
circular 30-foot wall of blue LED lights en-
circles the stairwell with the central shaft
of the circular stairway designed as a media
wall. The retailer plans to open additional
stores throughout Mexico in 2012.
Accessorize expands
British fashion brand Accessorize is expan-
ding into Mexico after its frst store that was
opened in May 2010 has proved to be a huge
success. It has now opened a second store
in Mexico and hopes to open another two
before the end of the year.
The most recent store in Mexico City was
inaugurated by Jeremy Browne, the UKs
Foreign and Accessorize is not the only UK
retail brand to spread its wings in Mexico,
with Burberry and Thomas Pink among tho-
se who have also increased their infuence
across the countrys growing retail sector.
Antara Shopping Mall, Mexico-City
Paseo Interlomas Mall, Mexico-City
466
94
Sao Paulo, Iguatemi best shopping location in
Latin America
.
SAO PAOLO, the capital of the eponymous state and Brazils largest
city, is Latin Americas largest industrial conurbation. Sao Paolo
proper has a population of 10,7 million, while the greater Sao Pao-
lo area has 19,8 million inhabitants, making it one of the worlds
largest cities and the most densely populated urban area in the
Southern Hemisphere. Depending on which statistics are applied,
Sao Paolo is the worlds ffth or sixth largest metropolitan area.
Brazilians are getting richer and will continue to drive growth in
the luxury market, boosting sales of everything from Louis Vuittons
Speedy bags to Chanels Particulire nail polish, and luring new
brands such as Prada and Fendi to local shopping malls next year.
Brazils luxury boom
Sao Paolo, Brazils leading business and fnancial hub, is currently
concentrating most of the countrys luxury market.
Chanel, Herms, Burberry, Carolina Herrera, Marc Jacobs, Goyard,
Celine, and Jimmy Choo are just some of the major international
luxury brands which have opened mono-brand stores in Sao Paolo
over the past two years, most of them operated in franchising.
Brazil currently accounts for just 7,59 billion dollar in luxury re-
venues, or about 1 % of the global market. But its growth rate is
22 % a year, far outpacing several more established markets and
even Brazils general retail sales, which rose by an estimated 11 %
in 2010. And the countrys luxury sales are now almost twice the
value of 2006.
Chanel closed its franchise shop inside Daslu Villa and
opened at Citade Jardim
This is now the time for us to consolidate our presence there, di-
rectly operating the boutique network, as we do elsewhere, said
Bruno Pavlovsky, President of Chanels fashion division. After more
than a decade under the operation of Daslu, Brazils leading luxu-
Sao Paulo by Helicopter
Sao Paulo Skyline
View from the Unique Hotel, Sao Paulo
467
Iguatemi Shopping Mall commercial with Ana Beatriz Barros
ry retailer for the past 50 years, Chanel earlier this year closed its
franchise shop inside the four-storey Daslu Villa here.
Last July, it took over the management of its store in Shopping
Citade Jardim, where it stands on the same foor with Herms frst
store in Brazil, a concession which was opened in late 2009 and
near Louis Vuitton, which has been directly operating its stores in
Brazil since 1999. This move had an immediate 30 % price drop
effect on Chanels prices, this way cutting out an extra commissi-
on. A second Chanel store in Sao Paolo opened at the end of 2010
within Shopping Iguatemi Mall, across the Gucci store.
Jardins, Citade Jardim is not as easily accessible
Far removed from the Oscar Freiere and Haddock Lobo, the two
main luxury streets in Jardins, Citade Jardim is not as easily ac-
cessible as Iguatemi. Its location could be the one reason Citade
Jardim attracts only about 15,000 consumers per day, a third of the
number who visit Iguatemi. Still, Citade Jardims consumers spend
big, averaging 1,700 dollar on a visit, almost six times the Brazilian
minimum wage.
Iguatemi is the best location in the Latin American mar-
ket
It is a strong and growing luxury fashion environment, with other
brands opening regularly. Citade Jardim is a new ultra-luxury
shopping mall with a very strong potential expected for the end of
Brazils rich are getting richer Suzy Menkes
468
2011 when the project which includes residential and offce buil-
dings as well as a new road to avoid traffc are scheduled to be
completed, said Pavlovsky.
Although Sao Paulo concentrates more than 70 % of Brazils luxury
market, there is potential in other cities too. Iguatemi already has
a mall in Brasilia, where Burberry opened its frst directly operated
store in May 2010, which was followed by a second opening of a
Burberry store within the Iguatemi Mall in Sao Paolo in December
2010. A site being eyed by luxury brands in Rio de Janeiro is the
Village Mall, which is being planned in the citys Barra da Tijuca
neighbourhood.
Nicole Kidman has been hired
Nicole Kidman has been hired to promote the new project which
is due in 2012. Iguatemi is expanding in Sao Paolo and is soon ex-
pected to unveil a second address, Shopping JK Iguatemi, which
insiders say is expected to see Gucci Groups frst directly opera-
ted stores in Brazil. Herms, which is operated in franchising by
local luxury real estate company JHSF, is reportedly looking for a
second location in Sao Paolo and a location for its frst store in Rio
de Janeiro.
Citade Jardim Shopping-Mall, Mexico-City
Rua Oscar Freire, Sao Paulo
469
Designer Carlos Miele
Havaianas Rua Oscar Freire, Sao Paulo
Rua Oscar Freire is the eighth most luxurious street
Rua Oscar Freire is a tree-lined street stretching from Alameda
Casa Branca to Avenida Doutor Arnaldo in the Jardins district of
So Paulo. It was named after Oscar Freire de Carvalho, a physician
and forensic medicine professor from Bahia, who helped develop
the citys frst morgue (Instituto Mdico Legal).
According to Excellence Mystery Shopping International, Rua Os-
car Freire is the eighth most luxurious street in the world and se-
cond in the Americas behind Fifth Avenue in New York.
Stores on Rua Oscar Freire
Shops located on Rua Oscar Freire and surrounding streets include
Louis Vuitton, Armani (Giorgio Armani and Emporio Armani lines),
Carmen Steffens, Dior, Montblanc, Cartier, MaxMara, Ermenegildo
Zegna, Versace, Diesel, Cavalli, Bulgari, Salvatore Ferragamo, Marc
Jacobs, Gant, Lacoste, Timberland, Tommy Hilfger, Nike, Adidas,
Benetton. Top-notch Brazilian fashion is present with the likes of
Alexandre Herchcovitch, Cris Barros, Reinaldo Loureno, Glria
Coelho, Animale, Forum, Ellus, NK Store, Sergio K, Havaianas, Car-
los Miele, Cavalera, Le Lis Blanc, Canal, Triton, Idice, and Osklen.
National high-end jewellery stores include Vivara and H Stern.
Sophisticated food shops and restaurants can also be found.
Among them are A Figueira Rubaiyat, Fasano, Antiquarius and
Gero, four of the citys most traditional and expensive restaurants,
as well as world-famous Hagen-Dazs. There is a Nespresso store
and in 2010 a Valrhona boutique was opened.
Havaianas opened their frst store in Brazil in 2009 on Rua Oscar
Freire one of the worlds most expensive addresses.
470
95
Buenos Aires, luxury mile Avenida Alvear of
great interest
.
BUENOS AIRES is the capital of Argentina and the countrys po-
litical, cultural, commercial and industrial centre. The city got
its name from Santa Mara del Buen Ayre (St. Mary of the Good
Wind), who is the patron saint of mariners a name the citys
founding fathers decided to adopt to show gratitude for the favo-
urable weather conditions they encountered when departing on
ocean journeys.
Buenos Aires, the offcial surface area of which is 203 square met-
re kilometres, forms the core of South Americas largest metropo-
litan region, Gran Buenos Aires, which has 13 million inhabitants.
Buenos Aires and in particular the surrounding area are home to
around one third of all Argentineans. Buenos Aires was named a
UNESCO City of Design in 2005.
Galeras Pacfco
One of Argentinas most successful shopping malls, Galeras Pac-
fco was declared a national historic monument owing to the unde-
niable aesthetic value of its architecture and its striking murals.
Located at the corner of Florida Street and Cordoba Avenue, Ga-
leras Pacfco is frequented by over 900,000 visitors a month who
are highly literate and have a high socioeconomic status. The mall
has more than 11,000 square metres of retail space, more than 150
stores and a food court with more than 18 vendors.
Chanel opened its frst Argentinean boutique here in October 2011
(70 square metres) at a prime location at Galeras Pacfco.
Yves Saint Laurent inaugurated its frst outlet in Argentina, a shop-
in-shop at Falabella department store, near Buenos Aires.
Galerias Pacifco Shopping Center, Corner Florida Street/Crdoba Avenue,
Buenos Aires
Galerias Pacifco Shopping Center, Buenos Aires
471
Avenida Alvear: Buenos Airess main shopping street
The main shopping street in Buenos Aires is Avenida Alvear, where
the presence of numerous major retailers make this the citys top
shopping area.
Avenida Alvear, which extends over seven blocks (a block is around
110 metres long) from Plazoleta Carlos Pellegrini to Plaza Alvear,
is known not only for its pricey stores, but also for its French-style
palatial buildings that were very popular among Argentinas upper
crust in the early 20th century.
Construction of Avenida Alvear began in 1885 at the behest of Ma-
yor Torcuato de Alvear, who is remembered for his urban develop-
ment projects that emulated those of Baron Haussmann in Paris.
The best known examples of Belle Epoque architecture on Avenida
Alvear are Palacio Ortiz Basualdo and Palacio Pereda, which to-
day house the French and Brazilian embassies, respectively. Other
well-known buildings include Palacio Duhau (now a Park Hyatt Ho-
tel), the neighbouring Palacio Fernndez Anchorena (now the Vati-
can embassy) and Alvear Palace Hotel (1932).
Palace Hotel Avenida Alvear, Buenos Aires
Panerai Boutique Avenida Alvear, Buenos Aires
472
The designer boutiques along Avenida Alvear include Armani, Va-
lentino, Herms, Louis Vuitton, and Ermenegildo Zegna. The street
ends in the north at the La Recoleta cemetery.
Montblanc opens opposite Palace Hotel
In September 2011, the writing implement company Montblanc
opened a 180 square metre store on Avenida Alvear, which is lo-
cated right near fellow luxury retailers Louis Vuitton, Cartier und
Herms, and opposite the Palace Hotel.
Panerai to debut in Buenos Aires
The new Panerai Boutique in Buenos Aires opens in Avenida Alvear
1814, the famous boulevard located in the charming Recoleta dis-
trict. This area features an abundance of parks, boulevards, muse-
ums, and palaces of great historical and architectural interest. The
buildings on Avenida Alvear, among which the Hotel Alvear stands
out, for the most part date back to the period between 1880 and
1920 and evoke an important past. The rooms of this supremely
elegant hotel have offered hospitality to royalty and heads of state,
and along the boulevard stroll world-renowned personalities from
the worlds of the arts, business and entertainment.
In the charming setting of the Avenida, the Panerai Boutique pro-
poses its foremost creations which are arousing ever growing inte-
rest on the international market. An Italian success story achieved
thanks to a perfect balance between state-of-the-art technology,
impeccably sound mechanisms and an alluring aesthetic impact,
all features of watches whose fame now extends from the Euro-
pean markets to those of South America, the United States and
Japan.
Breitling new in Argentina
In December 2011, the watch brand Breitling opened its frst Ar-
Boutique Cardon Avenida Alvear, Buenos Aires
Hope Boutique Palermo, Buenos Aires Hope Model Gisele Bndchen
473
gentinian boutique, located in the iconic Alvear Avenue, opposite
the Alvear Palace Hotel. The unique store has 32 square metres
of retail space with innovative design combining wood and walnut
quadrille, creating a warm, cosy and intimate atmosphere whe-
re the client can feel and experience the aircraft heritage of the
brand.
Cardon opens second store on Avenida Alvear
The Argentinian retailer Cardn opened its second store on Avenida
Alvear in 2010. The 350 square metre store is decorated according
to the brands new style and has four display windows. Cardns
new hallmark store occupies a building that is emblematic in the
city, built in 1924 by the renowned architect Alejandro Bustillo, its
front is approximately 15 metres wide in a historically protected
area.
Omega opens frst fagship store in Argentina
In November 2011, the luxury watch and jewellery company Omega
opened a store on Buenos Airess Avenida Libertador.
Lacoste opens frst Buenos Aires outlet
Lacoste opened a 200 square metre fagship store on Buenos
Airess Santa Fe Avenue.
Avon with fagship at Santa Fe Avenue
Avon Cosmetics opened a new sales centre in Buenos Aires city
exclusively for resellers and area managers. This point of sale is lo-
cated in Santa Fe Avenue 2302, one of the most emblematic com-
mercial areas of the city. With this new project, we aim to continue
growing while offering our resellers benefts that will complement
our current sales channels, said Paulo Moledo, general manager
of Avon for Southern markets.
Hope expands with frst store to Argentina
Hope, one of Brazils top underwear brands, has opened its frst
shop in Argentina, on 120 square metres in a historical building in
Palermo Soho, Buenos Aires. This is Hopes sixth foreign store, as it
has two shops in Israel and three in Portugal. Until the end of 2012,
the company wants to open ten stores in Argentina.
La Prairie opened fagship at Airport
Switzerland-based high-end cosmetics group La Prairie has ope-
ned a new fagship travel-retail store at the Buenos Aires Ezeiza
International Airport.
This is the groups third travel-retail store overall and their frst in
the Americas. The other two stores are located at Zurich Airside
Center and Hong Kong International Airport. The store is spread
over 18 square metres inside the airports 2 500 square metre de-
partures store.
Starbucks plans to open 300 new coffee shops in
Argentina & Mexico
Since arriving three years ago, Starbucks has been opening new lo-
cations in Argentina at a rate of twelve per year. In fact, the compa-
ny just opened the 36th location at Alto Rosario shopping centre,
outside Buenos Aires, a coffee shop with 120 square metres. Alsea,
the Mexico-based franchiser of Burger King, Dominos Pizza and
P.F. Changs, has extended its Starbucks rights through 2027 and
plans to open 300 new Starbucks in Argentina and Mexico over the
next fve years. Considering Argentina has roughly 40 % the popu-
lation of Mexico, that could mean 120 new Starbucks in Argentina
between now and 2015, or 25 per year.
Breitling, Buenos Aires
474
475
476
Bulgari becomes French
By Gesche Wpper
No sooner had the scandal surrounding designer luminary John
Galliano and his clandestine defection to French retailer LVMHs
competitor Herms died down than the company was making
headlines yet again by acquiring the Italian jewellery and watch
company Bulgari for an estimated 3,7 billion euro. For LVMH chief
Bernard Arnault, who is an avid acquisition hunter, the takeover of
Bulgari was the companys largest acquisition in around ten years.
Mr. Arnault, who has close ties with French president Nicolas Sar-
kozy, has bagged more than 50 prize brands for his organisation,
including the fashion handbag retailer Louis Vuitton, the designer
clothing labels such as Kenzo and Christian Dior, and the Champa-
gne brands Mot & Chandon and Veuve Cliquot. That said, LVMHs
acquisition of Bulgari represents more than just another feather
in the companys retail cap, for in Bulgari LVMH has at long last
got itself a world class jewellery and watch brand, which had been
missing from the companys portfolio. The merger is the perfect
combination, said Mr. Arnauld concerning his latest trophy.
Louis Vuitton New Bond Streets store new and opulent
In May 2010, the luxury retailer Louis Vuitton celebrated the 125th
anniversary of its presence in London an occasion used by
the French company to open an opulent new store on New Bond
Street.
Bulgari takeover
In contrast to the Herms scenarios, where the family that owns
the company fought off a takeover attempt by LVMH, Mr. Arnault
was able to come to an agreement with Bulgaris owners. The fami-
ly heirs to Bulgari, which was founded in Rome in 1884 by silvers-
mith Sortirio Bulgari, ceded their 50,4 % share in the company to
LVMH, in exchange for which they acquired a 3,5 % stake in LVMH,
thus becoming its second largest shareholder after the Arnault fa-
mily, who control 47,38 % of LVMHs capital through a holding com-
pany. As for the outstanding Bulgari share, LVMH will be making a
public takeover offer.
Herms takeover
Events unfolded quite differently for Herms, which is mainly
known for its handbags and silk scarves. In October, LVMH had
announced, to everyones surprise (the Paris stock exchange was
in a state of shock) and to the great consternation of the Herms
family heirs that LVMH would be acquiring a stake in Herms via an
equity swap. The scenario was reminiscent of Porsches actions in
connection with Volkswagen, and how the auto supplier Schaeffer
had treated its competitor Continental. The swap called for LVMH
chief Arnault to acquire two thirds of his stake in Herms via an
equity swap that he had announced back in 2008. Under such an
equity swap agreement, investors speculate on how the share pri-
ce will evolve, without actually purchasing the shares. The profts
are ultimately disbursed via a cash instrument by a counterparty,
usually a bank, which for collateralisation purposes oftentimes
buys the shares of the company that its customer is speculating
on. In the autumn of 2010, LVMH instructed that the invested sum
be paid out not via a cash instrument, but rather in the form of
Herms shares. In the meantime, LVMH received around 20 % of
Herms shares. The Herms family heirs, who held 73 % of the
shares, were incensed.
Art and fashion
In contrast, Mr. Arnaults latest coup has been marked by harmony.
Joining my company and the Bulgari family is an ideal merger from
every standpoint, says Mr. Arnault. For in point of fact we share
the same culture with this family, which respects the origins of our
brands. As a sign of mutual agreement, the Bulgari family heirs
will be allowed to keep their positions in the company which me-
ans that the grandchildren of the company founder, board chair-
man Paolo Bulgari and deputy board chairman Nicola Bulgari, will
stay on. Plus their family will have two seats on the LVMH board.
And their nephew, Francesco Trapani, who is currently the Bulgari
COO, will, in the latter half of the year, take over as head of the en-
tire jewellery and watch division of LVMH, which Bulgari will merge
with.
Bulgari, whose latest annual sales amounted to over 1 billion euro
and is the worlds third largest jewellery company after Cartier (a
member of the Richemont Group) and Tiffany, has long been seen
as a possible takeover target by virtue of its being one of the few
luxury retailers where the majority of the shares in the company
are still held by its family heirs. Moreover, the group, which added
perfumes and accessories to its portfolio in the 1990s, had suffe-
red a loss in 2009 for the frst time since it went public in 1995. But
Bulgaris COO Franceso Trapani had stated in an interview a few
months previously that his family wished to retain control of the
companys shares.
LVMH jewellery and watch sales
The LVMH Group, which includes brands such as Tag Heuer, Zenith,
Hublot, Dior Montres, Chaumet, and Fred, registered a 29 % incre-
ase (to 985 million euro) in its watch and jewellery sales last year.
And now that LVMH has acquired Bulgari, which industry analysts
say was a smart strategic move, it will be able to nearly double the
sales of its smallest division and surpass Cartier as the worldwide
market leader.
The acquisition hunter
A native of the northern French city of Roubaix, LVMH chief Bernard
Arnault has over the past three decades acquired the reputation
of being an avid acquisition hunter. After graduating from Frances
top management school, he went to work for the family business,
Mergers and Acquisitions
.
477
where he persuaded his father to abandon the companys core
business and go into real estate instead. When Franois Mitter-
rand came to power in 1981, Arnault migrated to the US out of fear
of the economic policies that Mitterands socialist government
might pursue. But a mere three years later he was back in Fran-
ce, where he took over with fnancial assistance from the French
government the Boussac Group, an apparel concern that was on
the edge of bankruptcy.
The government provided Arnault with a 750 million franc (125
million euro) subsidy to help bail out Boussac. And though Arnault
swore up and down at the time that he had no intention of gutting
the company, he broke his promise by closing factories and selling
off the companys subsidiaries, and only held on to the Paris de-
partment store Bon March and the fashion house Christian Dior,
which he intended to use as the cornerstones of his envisaged em-
pire.
In the late 1980s, Arnault pulled off his next coup when the LVMH
shareholders asked him to help settle the dispute between the
co-chairmen of the group that had been formed from the merger
of Louis Vuitton and Mot Hennessy. Arnault bought 22 % of the
companys shares on the stock market, allied himself with the
Guinness family, and took over the reins of power. Up until then
the piano-playing husband of concert pianist Hlne Mercier had
only lost a battle in the takeover war the one involving Gucci, in
which, as with Herms, Arnault acquired only a minor share stating
that LVMH had no plans to take over the entire company. But when,
in 1999, he tried to do just that, Gucci asked Arnaults adversary,
PPR founder Franois Pinault, to come to the rescue. The two bil-
lionaires were in ferce competition with each other at the time,
such that the minute either man bagged a prestigious company,
the other tried to one-up him.
This confict has apparently faded into the background, particular-
ly since the time PPR founder Pinault passed the baton to his son,
Franois-Henri. But that does not mean that Mr. Arnault has lost
his fondness for a good contest. And in fact, by acquiring Bulgari,
he was trying to one-up Mr. Pinault. According to industry analysts,
Richemont, Swatch and PPR had all expressed an interest in ac-
quiring Bulgari. And while Arnault paid through the nose for Bulga-
ri, many analysts feel that the high price was thoroughly justifed.
So all thats now missing from Arnaults feet of brands is Herms.
And while in public he claims that he has acquired a share in Her-
ms only with the best intentions and has no intention of taking
over the entire company, informed sources say that he has been
dreaming for years of doing just that. In any case, the Herms fa-
mily heirs have no intention of gifting Mr. Arnault in this fashion,
regardless of whether or not it is his birthday.
Brioni becomes also French
By Inga Griese, Andre Tauber and Gesche Wpper
The Italian mens outftter Brioni is now a member of the fnancially
robust conglomerate PPR, a move that can only work to Brionis
beneft, as it was short on cash and lacked a clearly defned growth
strategy. Brioni represents the pinnacle of Italian tailoring acu-
men, in the guise of custom-made suits that can easily cost tens
of thousands of euro. In the US this year, Brioni was even named
the most desirable mens luxury brand. But meanwhile back in Mi-
lan, the company was in dire fnancial straits, and in the wake of
a family dispute lacked the capital needed to fnance growth and
investment.
But now, Brioni will be able to get back on its feet again. In Novem-
ber 2011, the French luxury retailer PPR announced that it had ac-
quired Brioni and that it intends to strengthen the company. Well
be giving them access to our know-how and experience, so that the
company can turn the page and enter a new era, PPR chief Fran-
ois Pinault said in Paris. Which, translated into less diplomatic
language, basically means this: for a long time now Brioni has been
failing to fulfl its potential. But all that is about to change.
Bruised Italian egos
The acquisition hurt the feelings of many Italians, who would very
much like to debate with France the issue as to who plays the
leading role in the luxury goods sector. The Italian public had al-
ready expressed shock in January at LVMHs purchase of Bulgari.
Once again, weve sowed the seeds while others have reaped the
harvest, lamented the business newspaper Sole 24 Ore. PPR and
LVMH have between them acquired a whole series of prestigious
Italian companies besides Bulgari, such as Bottega Veneta, Fendi,
and Gucci.
Smaller luxury retailers under massive fnancial pressure
The time is long gone when it was suffcient to have one store each
in Milan, New York, London, Paris, and Tokyo and simply hope that
customers would fock to your store to buy your wares. For today,
customers in China, Brazil, Russia and even countries such as
Mongolia or Kazakhstan expect luxury boutiques to set up shop in
their cities as well. But many SMEs lack the capital to keep pace
with this global competition.
This applied to Brioni in spades. The companys sales last year
amounted to only 170 million euro, which is amazingly small for
a brand that is known worldwide. PPR, on the other hand, earned
more than 14,6 billion euro in sales, and the fgure for LVMH was 20
billion euro. And it is the same with the sales of the other leading
Italian labels: Prada, 2 billion euro; Armani 1,6 billion euro; Dolce &
Gabbana 1,1 billion euro; and Ermenegildo Zegna 963 million euro.
478
So in this regard, Mr. Pinault should be quite pleased with his
purchase, as, according to him, he paid substantially less than
350 million euro for Brioni. According to the Rome newspaper Re-
pubblica, the base price was 220 million euro, with an additional
100 million euro to follow provided that Brioni meets its manda-
ted sales goals. However, no offcial confrmation of this has been
forthcoming. For PPR, its new subsidiary is more than just a mere
bargain, for the company plans to substantially expand its luxury
goods activities, for the simple reason that they are the most pow-
erful driver of PPRs growth. Thus, for example, despite the crisis,
PPRs luxury goods sales rose by 23 % in Q3, versus only a 7 % rise
in the companys sales as a whole (to 3,9 billion euro).
And Mr. Pinault should also be pleased about the purchase from a
personal standpoint, because henceforth he can wear Brioni at ba-
lance sheet press conferences; for up until now the company was
lacking a mens custom outftter.
Alshaya takes over La Senza
The bankrupt British lingerie chain La Senza has found a buyer for
part of its activities, in the guise of Alshaya UK Limited, which took
over 60 La Senza stores for an undisclosed price, thus rescuing 1
100 British jobs from the chopping block.
However, according to La Senza, no buyer has been found for the 81
outlets that were closed as at 30 December 2011. In addition, the
receiver KMPG announced the closure of three additional stores
and 18 franchises. The closing of 84 stores and 18 franchises came
at the cost of 1 300 jobs.
Alshaya UK Limited is a member of the Alshaya Group, which ac-
cording to KPMG is a leading international retailer headquartered
in Kuwait. M.H. Alshaya Co. partners with 55 brands worldwide,
including Next, Topshop, Debenhams, H&M, and Victorias Secret.
Founded in 1890, the company operates more than 2 000 stores in
ten countries in the Middle East, North Africa, Turkey and Europe
and is also active in the automotive, hotel and investment sectors.
The top 12 deals of 2011
By Vicki M. Young with contributions from Samantha Conti, Luisa
Zargani
1) LVMH BUYS BULGARI
LVMH Mot Hennessy Louis Vuitton in March agreed to acquire
50,4 % of Italian jeweller Bulgari from the frms largest share-
holder, the Bulgari family, in a cash-and-share swap, and laun-
ched a bid for the remaining shares for a total value of more
than 6 billion dollar. The deal doubled the size of LVMHs watch
and jewellery division, and made the Bulgari family the second-
largest family shareholders in LVMH with a 3,3 % stake after
chairman and chief executive offcer Bernard Arnault himself.
2) TIMBERLAND RAISES VFS PERFORMANCE PROFILE
After firting for more than 30 years, VF Corp. fnally in June inked
a 2,3 billion dollar cash deal to acquire Timberland Co., transfor-
ming VF into a 10 billion dollar giant.
During the frst full year after the deal, half of VFs business will
be in the outdoor and action sports arena, which could rise to
60 % of the business by 2015. That will help VF trade more like a
performance apparel frm. Timberlands president and CEO, Jef-
frey Swartz, whose family controlled 73,5 % of the voting power
of Timberlands stock, stepped down from his posts after com-
pletion of the deal in September.
3) JACK WOLFSKIN HAS A NEW PRIVATE EQUITY OWNER
Private equity frm The Blackstone Group in July forked over 995
million dollar to acquire German outdoor gear and apparel chain
Jack Wolfskin. Blackstone acquired the frm from Barclays Pri-
vate Equity and Quadriga Capital. New York-based Blackstone
is the retail chains third private equity owner in ten years. The
retailer has more than 400 franchised stores in Europe and Asia,
half of which are in Germany. Barclays and Quadriga acquired
the chain from Bain Capital in 2005.
4) JIMMY CHOO FLIPS AGAIN
Labelux Group, a division of the private, family-owned Joh. A.
Benckiser SE, owner of perfume maker Coty Inc., became the
latest owner of Jimmy Choo in May. Labelux, whose other brands
include Bally and Derek Lam, beat competitors including TPG Ca-
pital and The Jones Group Inc. in a deal, sources say, valued Choo
at 889,4 million dollar. Reinhard Mieck, CEO of Labelux, said: We
see ourselves as long-term strategic investors, adding that the
brand has lots of unfulflled potential in Asia. Chief creative of-
fcer Tamara Mellon and CEO Joshua Schulman revealed plans in
November to depart; Mellon has already exited while Schulman
will leave early this year. The sale to Labelux comes ten years af-
ter private equity owners Equinox frst purchased Choo, valuing
the company at 32,4 million dollar.
5) NO IPO FOR MONCLER HELLO EURAZEO INSTEAD
Moncler SpA in June pulled the plug on its planned initial pu-
blic offering on the Milan Stock Exchange, electing instead to
sell a 45 % stake to Paris-based investment company Eurazeo
for 611,5 million dollar. Remo Ruffni, Monclers chairman and
creative director, and The Carlyle Group continue to hold minori-
ty stakes in Moncler. One week before the deal was inked, Mon-
cler got the green light to proceed with the IPO, and a 1,87 billion
dollar valuation was put on the company. Selling the stake was
deemed a better way to grow the brand, and an IPO down the
road could still be a possibility as an exit strategy. Ruffni in Oc-
tober took on the additional role of CEO following Alberto Lavias
exit from the frm.
479
6) PPR GOES MASS WITH VOLCOM
PPR in May revealed a friendly 607,5 million dollar takeover bid
for Californian action sports brand Volcom Inc. It is a move by
luxury mogul Franois-Henri Pinault to build a mass market di-
vision around Puma that could eventually eclipse its luxury hol-
dings, such as Gucci. Richard Woolcott, Volcoms chairman and
chief executive offcer, remains on the Volcom board and is run-
ning the frm as part of PPRs sport and lifestyle group.
7) JONES COUNTS ON GEIGER
Private equity frm Graphite Capital sold British footwear brand
and retailer Kurt Geiger in June to The Jones Group Inc. for 350
million dollar in cash, inclusive of debt. The acquisition is a win-
win situation. Its new parent gives Geiger entre to the US, while
the transaction gives Jones a platform into Europe and bolsters
its footwear operations, which already include Nine West. Gei-
ger CEO Neil Clifford pockets a small fortune and remains at the
helm of the company.
8) POLAS NEW BABY
Japans Pola Orbis Holdings purchased Australian skin care frm
Jurlique International Pty. Ltd. for 300 million dollar. The tran-
saction is expected to close in early 2012. The purchase price in-
cludes the repayment of some of Jurliques debts. The marriage
is expected to utilise Polas research and development capabili-
ties with Jurliques natural ingredients product lineup.
9) LIZ CLAIBORNE BRAND SOLD
The Liz Claiborne brand was sold to J.C. Penney Co. Inc. for 288
million dollar in October, a move that now has former parent Liz
Claiborne Inc. pondering what its new corporate name should
be. The sale was the latest in a series of moves by the parent frm
to allow it to focus on three key businesses: Kate Spade, Juicy
Couture and Lucky Brand. J.C. Penney had been expected to buy
the brand after becoming the exclusive licencee in August 2010.
10) ALLSAINTS DAY
Beleaguered AllSaints was rescued by Lion Capital and Goode
Partners in May. Both private equity frms injected 173,3 milli-
on dollar into AllSaints at the time of the sale. Lion has a 65 %
stake, Goode an 11 % one, and top management a combined 24
%. AllSaints ran into trouble after a rapid-fre retail rollout and
the nationalisation of its Icelandic investor Kaupthing bank. All-
Saints would have fallen into administration, the U.K. equivalent
of Chapter 11, had it not found an investor in time. The brands
CEO, Stephen Craig, abruptly left the company in late September
after clashing with chairman Kevin Stanford.
11) PARLUX IS PERFUMANIAS US$170 MILLION BABY
Perfumania Holdings Inc. revealed in December that it will acqui-
re Parlux Fragrances Inc. for 170 million dollar. Parlux is already
one of the discount beauty retailers biggest suppliers. The two
had been in merger discussions since August, and the boards of
both frms have approved the transaction, which is expected to
close in the frst half of 2012. Parlux, meanwhile, has until mid-
January to solicit other interested parties, while Perfumania has
the right to match a superior offer, according to the terms of the
merger agreement.
12) BELSTAFFS NEW SWISS TIES
Outerwear specialist Belstaff was acquired by Labelux Group
in a 161 million dollar cash-and-debt deal one month after the
Swiss luxury goods frm acquired Jimmy Choo. Belstaffs former
owner, the Malenotti family-owned Clothing Company, once con-
sidered an IPO, but that idea became a nonstarter in 2008 when
the global recession hit and consumer spending dwindled. La-
belux has help from two high-profle American executives: Har-
ry Slatkin and Tommy Hilfger. The two are also investors in the
English outerwear label. Slatkin is now Belstaffs CEO, and Hil-
fger serves as business consultant and a member of Belstaffs
advisory team and board.
480
Prices and wages
.
Oslo, Zrich and Geneva maintain high prices
Oslo, Zrich and Geneva remain the most expensive cities in our
survey, and remain so even after excluding rent.
World currencies strengthen against US dollar
Sydney continues its storm to the top of our rankings, now holding
7th place. To some extent this development can be explained by
the Australian dollars continued appreciation
against both the US dollar (19%) and the euro (5%). However, Syd-
ney is just one of many cities that have seen a jump in their ran-
kings. This is in contrast to the American cities we surveyed which
now hold much lower positions. The most expensive American city
is New York, occupying rank 14. Typically, New York was featured
in the top ten in the past. This can be attributed to the general de-
preciation of the US dollar versus the worlds other currencies. On
average, our surveyed citiescurrencies appreciated by 9% against
the US dollar, with those who did so considerably being: the Swe-
dish krona (21%), the Swiss franc (20%) and the Hungarian forint
(19%). This has caused a pronounced fall in US cities rankings.
Major infation in Venezuela continues
As mentioned in last years Prices and Earnings update, Venezuelas
capital Caracas was and still is suffering from high infation. Since
our survey was conducted two years ago, Venezuela has seen an
infation rate of 62%. This together with its pegged currency lif-
ted its position in the price rankings. Should Venezuela devalue its
currency again, it would result in a downward shift.
481
Methodology
The cost of a weighted Shopping basket
of goods geared to western European
consumer habits, containing 122 goods
and services.
1 Ranking relative to the index
(price level excluding rent)
PRICE LEVELS 2011
New York = 100
City
1
excl. Rent incl. Rent
Oslo 139.1 108.9
Zurich 135.0 105.5
Geneva 133.1 106.5
Copenhagen 118.4 89.4
Stockholm 117.5 88.5
Tokyo 112.6 94.2
Sydney 107.7 89.1
Helsinki 103.5 81.5
Toronto 102.8 82.1
Singapore 102.4 88.3
Vienna 102.0 75.2
Paris 100.9 82.8
Luxembourg 100.1 77.1
New York 100.0 100.0
London 99.8 82.5
Munich 99.7 75.0
Montreal 99.4 77.6
Frankfurt 98.0 76.3
So Paulo 96.5 74.5
Dublin 95.7 78.8
Brussels 93.3 74.5
Rome 92.8 74.4
Lyon 92.2 67.2
Auckland 91.7 73.0
Barcelona 90.9 71.1
Rio de Janeiro 90.9 68.4
Dubai 89.7 82.7
Istanbul 89.5 71.0
Amsterdam 88.2 68.4
Madrid 88.1 68.7
Los Angeles 88.1 72.7
Tel Aviv 87.6 66.5
Berlin 87.5 64.6
Milan 84.5 68.9
Seoul 84.5 68.4
Chicago 82.3 72.3
Hong Kong 82.3 76.5
Athens 80.1 60.1
Lisbon 79.9 62.4
Nicosia 79.7 62.1
Miami 78.8 69.2
Moscow 76.5 69.4
Johannesburg 73.9 55.0
Taipei 73.2 57.3
Bangkok 72.4 50.5
Warsaw 71.7 54.5
Caracas 71.3 60.0
Budapest 70.9 54.5
Shanghai 69.6 53.1
Ljubljana 69.3 51.9
Jakarta 68.9 53.8
Prague 68.4 51.9
Riga 65.3 46.1
Bratislava 64.9 49.9
Doha 64.3 59.2
Tallinn 63.8 45.9
Bogot 63.7 49.2
Beijing 62.3 46.2
Santiago de Chile 61.9 45.7
Vilnius 60.9 44.8
Kiev 59.9 44.3
Manama 59.5 48.7
Sofa 58.9 44.1
Mexico City 58.6 44.3
Lima 56.8 40.0
Bucharest 56.0 43.4
Kuala Lumpur 52.9 36.5
Buenos Aires 52.4 38.5
Cairo 50.5 35.6
Nairobi 50.4 38.5
Delhi 49.0 36.6
Manila 45.3 33.1
Mumbai 40.2 32.5
482
Switzerland increases wage level gap
Switzerland still pays out the most, with Zrich and Geneva
leading the rankings for gross wages. Although Copenhagen is still
in the top three of our rankings, it used to be number one in 2009.
The difference cannot be explained with infation alone. In the two
years since our most recent survey in 2009, Switzerland experi-
enced growth in its gross domestic product, whereas Denmarks
GDP remained roughly fat, offsetting the higher infation in Den-
mark. Since Denmarks krone is held within a limited range against
the euro, the Swiss francs continued appreciation versus the Eu-
rozone currency has aided and in fact mostly explains the change
in order between Copenhagen and the Swiss cities. Brussels and
Helsinki both benefted from the appreciation of the euro against
the US dollar, as they saw their wage rankings rise by three and
fve places respectively over the last year in our evaluation. On the
other hand Mumbai, Manila and Nairobi pick up the rear, while the
gap between the highest (Zurich) and lowest (Mumbai) gross wage
levels increased by 0.4% since last year.
Highest GDP increase: Emerging markets
The highest gross domestic product growth over the two-year time
span since the full survey occurred in China and Qatar, highlighting
the importance of emerging markets as growth motors of the glo-
bal economy as well as the oil price boomsince last year.
Who can afford the most?
Comparing domestic prices for a universal basket of goods against
the corresponding domestic wage level allows us to examine the
difference in relative purchasing power. Therefore people working
in Zurich, who lead our index, can afford the most domestically in
relation to the other cities we surveyed.
Luxembourg rejoins top three
After conceding its top three ranking last year, Luxembourg re-
takes its standing of 3rd place in the domestic purchasing power
index which it held in our original survey back in 2009. To put this
in perspective, Luxembourg holds the eighth position and 13th po-
sition in the wage and price rankings respectively. This underlines
the fact that a high or low wage level does not necessarily mean a
higher or lower purchasing power. It also depends on how expensi-
ve the basket of goods and services in the respective city is.
Emerging markets long way to the top
Although emerging markets exhibit high to very high economic
growth rates, most of them cluster in the lower part of the ran-
kings. This means that the countries with the highest growth rates
may move up in the rankings, but will require a long time to leave
the emerging market cluster. Examples are Shanghai and Doha,
which on the back of high growth rates moved up by one and th-
ree places respectively, but still fnd themselves in the emerging
market cluster.
483
WAGE LEVELS 2011
New York = 100
City
1
gross net
Zrich 144.1 149.1
Geneva 138.8 133.8
Copenhagen 134.8 100.4
Oslo 116.9 104.8
Sydney 111.3 117.9
Stockholm 101.9 97.2
New York 100.0 100.0
Luxembourg 95.5 107.8
Munich 94.5 83.2
Los Angeles 91.3 92.3
Frankfurt 90.6 82.5
Brussels 90.2 82.1
Helsinki 87.4 89.5
Toronto 85.4 88.4
Montreal 84.2 88.5
Dublin 83.0 97.3
Amsterdam 82.7 74.2
Berlin 81.3 77.8
Tokyo 80.8 90.6
Chigago 80.6 79.3
Miami 80.0 82.7
London 79.6 84.7
Vienna 77.9 79.9
Paris 73.6 75.1
Lyon 72.6 75.7
Milan 66.7 63.6
Nicosia 60.7 74.7
Auckland 58.8 64.3
Madrid 58.3 66.6
Barcelona 58.1 65.1
Rom 52.8 49.8
Lisbon 47.7 52.0
Athens 46.9 48.0
Tel Aviv 46.8 53.6
Ljubliana 45.4 37.7
Seoul 42.5 45.2
Dubai 41.5 57.3
So Paulo 39.0 45.2
Johannes-bourg 39.0 40.5
Taipei 37.4 44.9
Moscow 36.0 42.2
Singapore 35.8 41.7
Hong Kong 35.2 44.3
Rio De Janeiro 34.2 36.3
Prague 29.0 31.4
Tallinn 28.1 31.0
Warsaw 28.0 27.8
Istanbul 27.9 28.9
Manama 25.8 34.2
Budapest 23.6 20.4
Bratislava 22.7 25.1
Vilnius 21.9 21.0
Doha 21.7 30.0
Bogot 21.1 24.7
Riga 20.6 21.6
Santiago de Chile 18.6 21.0
Bucharest 18.4 18.5
Kuala Lumpur 18.1 21.0
Shanghai 17.8 19.2
Lima 17.8 19.5
Buenos Aires 16.7 19.1
Caracas 15.1 19.0
Beijing 14.7 16.3
Sofa 14.5 15.0
Bangkok 13.7 17.9
Kiew 12.2 13.7
Cairo 11.6 12.6
Mexico City 9.8 12.0
Delhi 9.5 11.4
Jakarta 8.7 10.5
Nairobi 8.4 9.2
Manila 7.4 8.7
Mubai 6.9 8.4

Methodology
Calculation is based on the wage, social insurance contribution and working hours data for 14 occupations worldwide to arrive at a net wage level after ta-
xes and payroll deductions. To calculate the wage index, we looked at exchange rates and infation, factoring in that productivity gains account for a portion
of economic growth, which are passed on to employees in the form of real wage increases (GDP growth weighted by a factor of 0.5).
1 Ranking relative to the index on a gross basis
484
Shopping center development:
an uncertain pipeline
.
As of 1st July, the European completion total for 2011 was estimated
at nearly 6,8 million sqm, with 4,6 million sqm of GLA due in the se-
cond half of the year. The 2012 pipeline was estimated at 5,8 million
sqm.
Several major new shopping centres have been completed in the en-
suing months. Westfeld Stratford City opened on 13 September, in-
creasing provision in London by 9 %. In Russia, Leto in St Petersburg
and Rodnik in Chelyabinsk opened their doors (the latter increasing
provision in Chelyabinsk by 25 %); MEGA Ufa and MEGA Samaraare
now partially open. In Hungary, the opening of KKI Terminal boos-
ted provision in Budapest by 8 %. In Romania, the opening of Mari-
timo Shopping Centre has increased supply in Constanta by more
than 40 %. In Poland, the newly-opened Millenium Hall is now the
largest shopping centre in the Podkarpackie region.
Openings scheduled for November 2011 include M5 Mall in Ryazan,
Russia (66,490 sqm), Ora Shopping in Istanbul (65,176 sqm), And
Parc in Craiova, Romania (54,840 sqm).
Alongside this furry of recent completions, delays have recently
been reported in several markets however, and this years European
total is likely to fall short of projections. In Russia, several projects
have been postponed from the 4th quarter 2011 to 2012, the largest
being Oz Krasnodar, which is now due next February. In Turkey, Neo-
City in Istanbul (65,000 sqm) has been pushed back to the 4th quar-
ter 2012 and there is some uncertainty about completion dates for
a few other projects. In Italy, Conca dOro (55,000 sqm) in Palermo
has recently been pushed back to March 2012, following delays to
several other schemes earlier this year.
The European pipeline
Source: Cushman & Wakefeld, RCA, KTI and Property Data
CEE and Trkei Western Europe
1
9
9
0
1
9
9
1
1
9
9
2
1
9
9
3
1
9
9
4
1
9
9
5
1
9
9
6
1
9
9
7
1
9
9
8
1
9
9
9
2
0
0
0
2
0
0
1
2
0
0
2
2
0
0
3
2
0
0
4
2
0
0
5
2
0
0
6
2
0
0
7
2
0
0
8
2
0
0
9
2
0
1
0
2
0
1
1
M
i
l
l
i
o
n

s
q
m
10
8
6
4
2
0
Recent openings
Country City or town Scheme Name GLA (sqm)
England London Stratford City 176,500
Russia St. Petersburg Leto 77,695
Turkey Istanbul Akbati 63,500
Russia Chelyabinsk Rodnik 58,000
Hungary Budapest Kki Terminal 55,000
Poland Rzeszw Millenium Hall 52,000
Romania Constanta Maritim Shopping Centre 48,130
Turkey Ankara Atlantis 43,000
Hungary Szeged rkdSzeged 41,000
Poland Kielce GaJeria Echo (extension) 40,000
485
There is also some uncertainty about the pipeline for the coming
years, although several countries may see an increase in completi-
ons in 2013 and beyond. In Poland, there is some ambiguity about
start dates due to selective demand for new space and the dif-
fculty of obtaining fnancing. In Portugal, many projects are still
at the early stages of development and are unlikely to go ahead
any time soon.
In Spain, the 2012 pipeline still stands at more than 400,000 sqm,
with several major schemes under construction; however, most of
these have suffered setbacks in recent years and will be deliver-
ed later than originally planned. In France, development activity is
expected to remain focused on the extension and refurbishment of
existing schemes. In the UK, completions will reach a historic low
in 2012, but should pick up again in 2013, with a handful of sche-
mes in the pipeline. In Germany, 2012 will see the lowest comple-
tion total since 1989; however, development activity may pick up if
current demand levels are sustained.
Retail Property Investment:
A Sector Very Much in Favour
Retail investment markets had a busy third quarter with EUR 9,1 bn
traded 7,7 % up on quarter 2. Activity over the frst nine months of
the year totalled EUR 29,7 bn, 9.8% higher than the same period of
2010, a market share of 34,3 % versus 33 % in 2010. Nonetheless,
a shortage of fnance for large lots such as shopping centres has
held the sector back and after slipping behind retail in the opening
quarter, offces have since regained top spot, with a 42 % market
share.
Major Schemes in the pipeline
Country City or town Scheme name GLA (sqm) Year
Russia Krasnodar OZ Mall 163,000 2012
Spain Zaragoza Puerto Venecia 123,475 2012
Russia Ufa MEGA Ufa 114,700 2011
Russia Samara M^GA Samara 102,000 2011
Turkey Istanbul Marmara Park 100,000 2012
Slovenia Ljubljana Sportni Park Stozice 96,319 2012
Italy Villesse Villesse Shopping 90,000 2012
Kroatia Zagreb Supernova Zagreb 80,000 2012
Russia Nizhniy Nebo 75,000 2012
Novgorod
England Leeds Trinity Leeds 76,000 2013
Ukraine Kiev Ocean Plaza 72,188 2012
45
40
35
30
25
20
15
10
5
0
2
0
0
6

Q
1
2
0
0
6

Q
3
2
0
0
7

Q
1
2
0
0
7

Q
3
2
0
0
8

Q
1
2
0
0
8

Q
3
2
0
0
9

Q
1
2
0
0
9

Q
3
2
0
1
0

Q
1
2
0
1
0

Q
3
2
0
1
1

Q
1
2
0
1
1

Q
3
Offces Retail
Q
u
a
r
t
a
l
y

v
o
l
u
m
e
s
Property investment by quarter
486
Demand for retail is good across the region despite the concerns
faced by consumers in many areas. Investors are focusing on
stronge areas of demand in the new age of retailing, on shopping
centres that can be actively managed and improved and on onveni-
ence property that is at least somewhat protected from economic
downturns. With a selective increase in supply a further impro-
vement in activity isorecast, with volumes to hit EUR 41,7 bn this
year, 7,5 % up on 2010, and increasing 10-15 %
further in 2012.
Risk, or rather risk avoidance, is key to determining where inves-
tors will go and not just in deciding what markets they target, but
also how quickly they will act and how they will fnance a deal. The
UK and Germany dominate activity accounting for 57 % of retail
trading in the opening three quarters and are more evenly mat-
ched than usual, with Germany in fact taking the top spot in the
last two quarters. A range of other markets are attracting strong
interest however. Denmark, Italy, the Czech Republic and Poland
are all set to outperform their 2010 volumes for example and clear-
ly there is a wide range of factors driving investors into these quite
different markets with opportunity a key issue.
Retail makes up a much higher than average share of activity in
CEE and also in Southern Europe. Over the past year the rise of Ea-
stern Europe is particularly impressive ranging from areas where
themarket is restarting after the credit crunch such as Bulgaria
and Croatia to the runaway growth story, Russia, which has seen
Over 2bn traded so far this year, the highest retail total yet recor-
ded in this market.
Shopping centres are the dominant sector of demand but interest
in shop property has also increased; particularly in the top high
streets which have coped relatively well through the economic
downturn. Retail warehouse demand has been slower to stir but
is now coming back for modern well-located parks and interest in
other formats notably Designer Outlets is also up.
Yields have stabilised over the past few months meanwhile and
are around 10-20 basis points down on the year, a somewhat lesser
degree of compression than expected. Indeed, while some areas
continue to see yields edge lower the Czech Republic, France,
Germany. Norway Poland and Turkey in the third quarter for ex-
ample others are seeing yields fat-line or increase, such as Den-
mark, Ireland, Portugal and Greece in Q3.

Top retail investment targets
E
u
r
o

b
n

p
.
a
.
4,0
3,5
3,0
2,5
2,0
1,5
1,0
0,5
0.0
England Germany East North Center South France West
2011 - Q1/3
EUR
2010
Retail yields across europe
Shop units Shopping center
Retail warehouses
Sep-06 Mar-07 Sep-07 Mar-08 Sep-08 Mar-09 Sep-09 Mar-10 Sep-10 Mar-11 Sep-11
8,0 %
7,5%
7,0 %
6,5 %
6,0 %
5,5 %
5,0 %
4,5 %
4,0 %
487
Rank Country City Location Rent/sqm/Year Rent/sqm/Year
CHF EUR
1 United States New York 5th Avenue 19,882 16,432
2 China Hong Kong Causeway Bay, Central 14,312 11,636
3 Switzerland Zurich Bahnhofstrasse 12,500 11,412
4 United States New York East 57th Street 10,958 8,909
5 United Kingdom London New Bond Street 9,603 7,808
6 Australia Sydney Pitt Street Mall 8,778 7,137
7 Japan Tokyo Omotesando 8,770 7,130
8 France Paris Avenue des Champs-lyses 8,632 7,018
9 Russia Moscow Stoleshinkov Lane 8,628 7,015
10 United Kingdom London Old Bond Street 8,103 6,588
11 Switzerland Geneva Rue de Rhone 8,100 6,694
12 Italy Milan Via Monte Napoleone 7,783 6,327
13 Japan Tokyo Ginza-Chuo Avenue 7,636 6,208
14 France Paris Avenue Montaigne 7,557 6,144
15 Italy Milan Piazza San Lorenzo 7,257 5,900
16 United States New York, NY Madison Avenue 7,195 5,849
17 France Paris Rue du Faubourg St Honor 6,942 5,644
18 Italy Rome Via Condotti 6,936 5,639
19 France Paris Rue St Honor 6,765 5,500
20 United Kingdom London Oxford Street 6,724 5,466
21 South Korea Seoul Myeongdong 5,798 4,714
22 Italy Milan Corso Vittorio Emanuele 5,720 4,650
23 Japan Tokyo Shibuya 5,720 4,650
24 Italy Milan Galleria Vittorio Emanuele 5,658 4,600
25 France Cannes La Croisette 5,434 4,418
26 Italy Milan Via della Spiga 5,289 4,300
27 France Paris Avenue George V 5,289 4,300
28 Germany Munich Kaufngerstrasse 4,874 3,963
29 South Korea Seoul Gangnam Station 4,862 3,953
30 Brazil So Paulo Iguatemi Shopping 4,849 3,942
31 United Kingdom London Regent Street 4,838 3,933
32 Russia Moscow Tverskaya Street 4,726 3,842
33 Australia Melbourne Bourke Street Mall 4,601 3,741
34 France Paris Boulevard St Germain 4,498 3,657
35 United Kingdom London Covent Garden 4,486 3,647
36 Austria Vienna Kohlmarkt 4,373 3,556
37 United Kingdom London Sloane Street 4,305 3,500
38 United Kingdom London Brompton Road 4,299 3,495
39 Germany Stuttgart Knigstrasse 4,284 3,483
40 United States Los Angeles, CA Rodeo Drive 4,280 3,480
41 Saudi Arabia Riyadh King Fahad Road / Olaya Road 4,202 3,416
42 France Paris Boulevard Haussmann 4,166 3,387
43 Austria Vienna Graben, Kohlmarkt, Krntner Strasse 4,029 3,276
44 Germany Frankfurt Zeil 3,988 3,242
Most Expensive Retail Locations Worldwide 2011
488
45 Russia Moscow Petrovka Street 3,887 3,160
46 Australia Brisbane Queen Street Mall 3,844 3,125
47 Germany Hamburg Mnckebergstrae 3,838 3,120
48 Germany Cologne Schildergasse 3,838 3,120
49 Spain Barcelona Portal de lAngel 3,838 3,120
50 Ireland Dublin Grafton Street 3,837 3,120
51 Germany Berlin Alexanderplatz 3,738 3,039
52 Germany Mnchen Maximilianstrae 3,690 3,000
53 Italy Florence Via Calzaiuoli 3,690 3,000
54 Italy Rome Via Cola di Rienzo 3,690 3,000
55 Brazil So Paulo Cidade Jardim 3,673 2,986
56 Germany Berlin Tauentzienstrasse 3,642 2,961
57 Germany Dsseldorf Knigsallee 3,618 2,941
58 Germany Hamburg Spitalerstrasse 3,547 2,884
59 United States San Francisco, CA Union Square Post Street 3,538 2,877
60 China Beijing Wangfujing 3,465 2,817
61 Russia Moscow Kuznetzsky Most 3,456 2,810
62 Singapore Singapore Orchard Road 3,416 2,778
63 Russia Moscow Stoleshnikov 3,394 2,759
64 Italy Rome Via del Corso 3,260 2,650
65 United States Chicago, IL North Michigan Avenue 3,230 2,626
66 United States San Francisco Post Street 3,196 2,598
67 China Shanghai East Nanjing Road 3,173 2,580
68 Germany Hamburg Neuer Wall 3,173 2,580
69 Spain Madrid Serrano 3,173 2,580
70 France Paris Rue de Rivoli 3,170 2,577
71 China Shanghai Nanjing Road West 3,064 2,491
72 Russia Moscow Kutuzovsky Prospect 3,026 2,460
73 Switzerland Bern Marktgasse/Spitalgasse 3,022 2,457
74 Israel Tel Aviv Ramat Aviv 2,993 2,433
75 Denmark Copenhagen stergade (Strget) 2,972 2,417
76 Australia Perth CBD 2,952 2,400
77 Denmark Copenhagen Strget 2,936 2,387
78 Netherlands Amsterdam Kalverstraat 2,922 2,375
79 Switzerland Basle Freiestrasse 2,921 2,375
80 China Shanghai Xujiahui 2,905 2,362
81 China Shanghai West Nanjing Rd 2,875 2,338
82 Canada Toronto, ON Bloor Street 2,861 2,326
83 Spain Madrid Preciados 2,859 2,325
84 Ukraine Kyiv Vulitsya Khreshchatyk 2,853 2,319
85 Germany Frankfurt Goethestrae 2,847 2,315
86 Austria Vienna Getreidegasse 2,841 2,310
87 China Beijing Xidan 2,835 2,305
88 United States Honolulu, HI Kalakaua Avenue 2,820 2,293
89 Germany Berlin Kurfrstendamm 2,804 2,280
489
90 Spain Madrid Calle Serrano 2,804 2,280
91 Spain Barcelona Paseo de Gracia 2,801 2,278
92 Russia Moscow Tverskaya-Yamskaya Street 2,797 2,274
93 India Delhi Khan Market 2,776 2,257
94 Greece Athens Ermou Street 2,769 2,252
95 New Zealand Auckland CBD 2,758 2,242
96 Australia Perth Hay St. and Murray St. Malls 2,754 2,239
97 United States Chicago East Oak Street 2,739 2,227
98 Czech Republic Prague Na Prikope/Wenceslas Square 2,733 2,222
99 Spain Madrid Goya 2,657 2,160
100 Australia Adelaide Rundle Mall 2,633 2,141
490
Shopping center and streets
.
Algeria, Algiers, Bab Ezzouar Shopping Center, Dely Ibrahim, Argentina, Buenos Aires, Alto Rosario Shopping Center, Av. Libertador, Avenida Alvear, Buenos Aires
Airport, Falabella Department Store, Galerias Pacifco, Palermo Soho, Petit Palais, Recoleta, Santa Fe Avenue, Australia, Melbourne, Bourke Street, Bourke Street
Mall, Braybrook Suburb Of Melbourne, Chadstone Shopping Centre, Collins Street, David Jones Melbourne, Jam Factory Shopping Centre, Melbourne Central Shop-
ping Centre, QvS Albert Coates Lane, South Melbourne, Williams Landing Town Centre, Sydney, ChatswoodS Mandarin Centre, George Street, Marsden Park, Par-
ramatta Road,Pitt Street Mall, Queen Victoria Building, Strand Arcade Mall, Sydney Airport, Westfeld Penrith, Westfeld Sydney Shopping Centre, Austria, Graz, City
Park Graz, Graz, Flughafen Graz, Graz Murpark, Jakomi Plaza, Ses Murpark, Weinzttlstrasse, Innsbruck, Herzog-Friedrich-Strasse, Kaufhaus Tyrol, Maria-Theresi-
en-Strasse, Innsbruck, Sillpark, Kitzbhel, Bichlstrasse,Hahnenkammstrae, Josef-Heroldstrasse, Malinggasse, Ober Sport Building, Linz, Arkade Taubenmarkt, Atri-
um, Haid Center - Ikea, Ikea Center, Landstrasse, Linz IndustriezeileSalzburg, Eberhard-Fugger-Strae, Europark Klessheim, Getreidegasse, Muezgasse, Judengas-
se, Kaigasse, Linzer Gasse, Mnzgasse, Sca Alpenstrasse, Sigmund-Haffner-Gasse, Vienna, Alserbachstrae, Bahnhofcity Wien West, Donauzentrum,
Freisingergasse, Graben, Herrengasse, Krntnerstrasse, Kohlmarkt, Mariahilfer Strasse, Park Hyatt Vienna Hotel, Seilergasse, St. Marx, Stilwerk Wien, Tuchlauben,
Weltstadthaus, Wipplingerstrae, Bahrain, Manama, Bahrain City Centre, Belgium Antwerpen, Boomsesteenweg, Herentalsebaan, Huidevettersstraat, Leysstraat,
Lombardenvest, Meir, Shopping Center Den Tir, Shuttershofstraat, Wijnegem Shopping Center, Brussels, Av. De La Toison DOr, Avenue Louise, Boulevard De Water-
loo, Brussels Airport, Brussels Central Station, Chaussee De Louvain, Chausse De Mons, Chausse DIxelles, City2 Shopping Mall, Joseph Stevensstraats, Marnix-
laan, Place Stphanie, Rue Neuve, Varkensmarkt, Westland Shopping Center, Woluwe Shopping Center, Knokke, Place Matuvu, Brazil, Rio De Janeiro, Ipanema,
Jacarepagu District, Jardim Guadalupe Shopping, Plaza Niteri, Shopping Cidade Copacabana, West Shopping Rio, Sao Paulo, Iguatemi Jk Shopping Centre, Inter-
national Airport, Oscar Freire, Rio De Janeiro, Shopping Center Cidade Jardim, Shopping Morumbi, Bulgaria, Sofa, Herms Park, NHood Iztok, Atanas Dalchev St 2,
Qtr Druzhba, Serdika Center, Street Ring Road, The Mall Of Sofa, Canada, Montreal, Golden Square Mile, Promenades Saint-Bruno, Rue Sainte-Catherine Ouest,
Toronto, Bloor Street West, Queen Street West, Sheppard Avenue, Shinjuku Mitsukoshi Alcott Bldg, St.Thomas Street, Yorkdale Shopping Centre, Yorkville Avenue,
Vancouver, 41St, Burrard Street, Cambie (Oakridge Center), Douglas Street, Granvillle Street, Kingsway, Robson Street, Vancouver International Airport, Chile, San-
tiago, Alonso De Crdova, Apumanque Mall, Arauco Maip Mall, Avda Manquehue Norte, Calle Doctor Teixeiro, Centro Plaza Internacional, Costanera Center, Hotel
Marriott, Huerfanos Street, Isidora Goyenechea, Las Condes Mall, Parque Arauco Mall, Paseo Los Trapenses, Plaza Arauco China, Beijing, Beijing Capital Internati-
onal Airport Terminal 3, China World Shopping Mall, Financial Street Mall, Sanlitun Road,, Sanlitun Village, Seasons Place Shopping Mall, Shin Kong Place Mall,
Sparkle Roll Plaza, Chengdu, Chengdu Mixc City, ChengduSLesen, Department Store, Huayang District, Maison Mode Department Store, Raffes Square, Uno Mall,
Chongqing, Chongqing Times Square, Chongqing Riyueguang Central Plaza, Jiefangbei Square, Star Plaza, Guangzhou, Guangzhou International Finance Center,
La Perle Shopping Mall, Pacifc Mall, Taikoo Hui Mall, Hong Kong, Canton Road, Elements Mall, Harbour City, Hong KongS Landmark Mall, Hysan Place, Ifc Mall,
JardineS Bazaa, Lee Gardens Two, Lht Tower, Pacifc Place, Pedder Street, Queen Street Road, Soundwill Plaza, Tat Chee Avenue, The Sun Arcade, Shanghai,
Bailian Shimao International Plaza, Beicai Town, Grand Gateway Mall, House Of Roosevelt, IFC Shopping Mall, Jiu Guang Department Store, Joy City Shopping Cen-
ter, Nanjing Road East, Nanjing Road West, Orient Shopping Center, Parkside, Pudong New AreaPeninsula Shanghai Hotel, Raffes Center, Shopping Center Citic
Square, Shopping Center Times Square, Shunheng International Commercial Plaza, Shenyang, Avenue Shopping Center, Beijing Street, LAvenue Shopping Center,
Palace 66, Zhongjie Lu, Shenyang, Charter Shopping Centre, Zhuo Shopping Mall, Taiyuan, Kaihuasi Street, Tianjin, Hisense Plaza, Colombia, Bogota, Avenida
Calle, Avenida Pepe Sierra, Calle 81, Carrera 12, Centro Comercial Andino, Cra 14, El Retiro Shopping Mall, Santa Fe Mall, T Zone, Unicentro, Newbury Street, Cro-
atia, Zagreb, Arena Shopping Center, Avenue Ilica, City Center One, Cvjetni Mall, Kaptol Shopping Centre, Portanova Shopping Center, RugvicaCzech Republic,
Prague, Eden Shopping CentreCzech Republic, Prague, Galerie Harfa Shopping Mall, Czech Republic, Prague, Metropole Zlicin, Na Prikope, Navratilova, Palac
Flora, Palladium, Parizska, Ruzyne International Airport, Shopping Center Chodov, Wenceslas Square, Denmark, Copenhagen, Amagertorv, Copenhagen Airport,
Frederiksberggade, Gammel Mnt, Gothersgade, Grnnegade, Hauser Plads, Hyskenstrde, Illum Department Store, Kbmagergade, Kompagnistrde, Krystalgade,
Norregade, Ny stergade, stergade, Egypt, Cairo, City Stars mall, Dandy Mega Mall, El Salam City, Mall of Arabia Cairo, Sheikh Zayed City, Designopolis SC,
Findland, Helsinki, Aleksanterinkatu, Helsinki Airport, Helsinki Vantaa Airporti, Kmp Galleria Shopping Centre, Kluuvi Shopping Center, Uudenmaankatu, Verkko-
kauppa.Com Megastore, France, Cannes, Boulevard De La Croisette, Rue DAntibes, Rue Des Etats Unis, Rue Des Frres Casanova, Rue Des Serbes, Rue Hoche,
Rue Mac, Lyon, Ecully / Vnissieux, La Part-Dieu Sc, Rive Gauche, Laochelle, Rue August Comte, Rue DAlgrie, Rue De Brest, Rue De La Rpublique, Rue De
LAncienne Prfecture, Rue Emile Zola, Rue Jean De Tournes, Rue Paul Chevanard, Rue President Edouard Herriot, Marseille, Belzunce Bourse Shopping Center,
Cours Julien Marseille, Grand Coastal Mall, Place De Rome, Rue De La Rpublique, Rue Franois Scaramelli, Rue Grignan, Rue Lulli, Rue Montgrand, Rue Saint
Ferreol, Shopping Center My Place, Nice, Avenue De La Rpublique, Avenue De Verdun, Cap 3000 Commercial Center, Galeries Lafayette, Rue De La Libert, Rue
Massna, Rue Paradis, Paris, Av. De LOpra, Avenue Des Champs-Elyses, Avenue George Avenue, Avenue Victor Hugo, Bd. Saint-GermainBoulevard des Capuci-
nes, Centre Commercial Bercy, Centre Commercial La Vache Noire, Centre Commercial Zone Grand Plaisir, Francois 1Er Street, Place Vendme, Rua De Passy, Rue
Auber, Rue Castiglione, Rue De Grenelle, Rue De Passy, Rue De Rivoli, Rue Des Blancs Manteaux, Rue Des Francs-Bourgeois, Rue Des Petits Champs, Rue Du
Faubourg Saint Honor, Rue Du Faubourg Saint-Antoine, Rue Froissart, Rue Jeans-Jacques Rousseau, Rue Saint Sulpice,Rue Des Francs-Bourgeois, Rue Royale,
Saint Honore Street, Velizy, St. Tropez, Avenue Foch, Boulevard Vasserot, Gant La Foux, Hotel Muse, Route Des Marres, Place De La Croix De Fer, Place De La
Garonne, Rue De La Poste, Rue Du Gnral Allard, Rue Franois Sibilli, Rue La Ponche, Traverse De Marbrierrs, Germany, Berlin, Alexanderplatz, Alte Schnhauser
Strae, Brunnenstrae, Building Arena, Friedrichstrae, Gendarmenmarkt, Greifswalderstrae, Hackeschen Markt, Kadewe, Karl-Marx-Strae, Kreuzberg District,
Kurfrstendamm, Moabit Tower, Mnzstrae, Neue Schnhauser Straen, Neues Kranzler Eck, Rosenthaler Strae, Schlostrae, Schnhauser Strae, Steglitz
Shopping-Centers, Tauentzienstrae, Unter Den Linden, Wilmersdorfer Strae, Bremen, Gerhard Rohlfs Strasse, Hutflterstrae, Obernstrasse, Sgestrasse, Strese-
mannstrae, Waterfront, Waterfront, Mall B, Werder Karree, Dortmund, Bornstrae, Thier-Galerie, Westenhellweg, Dresden, Altmarkt, Altmarkt-Galerie, Center Alt-
marktgalerie, Prager Strae, Waisenhausstrae, Dsseldorf, Berger Strae, Cecilienallee, Einkaufszentrum Seven, Flinger Strae, Friedrichstrae, Grabenstrasse,
Kasernenstrae, Kirchstrae, Knigsallee, Schadow Arkaden, Schadowstrae, Essen, Bahnhofstrae, Centro Oberhausen, Kettwigerstrasse , Limbecker Platz, Lim-
beckerstrasse, Frankfurt, Fahrgasse, Frankfurter Luxusmeile, Friedensstrae, Goethestrae, Groe Bockenheimer Strae, Kaiserstrae, Rathenauplatz, Romarkt,
Steinweg, Frankfurt Airport, Zeil, Hamburg, Abc-Strae, Eppendorfer Marktplatz, Gnsemarkt, Gnsemarkt Passage, Groe Bleichen, Lneburger Strae, Neuer Wall,
Poststrae, Hannover, Bahnhofstrae, Big Packhof Road, District Osdorf, Georgstrae, Groen Packhoffstrae, Karmarschstrae, Krpcke Center, Osterstrae,
Kln, Aachener Strasse Ehrenstrae, Hohe Strae, Kln-Widdersdorf, Mittelstrae, Schildergasse, Westgate, Krefeld, Hochstrae,Leipzig, Grimmaische Strasse,
Peterstrasse, Mnchen, Amalienstrae, Balanstrae, Brienner Strae, Falckenbergstrae, Hohenzollernstrae, Ingolstadt Village, Karlsplatz, Lebachplatz, Leopold-
strae, Ludwigstrae, Neuhauser Strae, Palais An Der Oper, Perusastrae, Residenzstrae, Schfferstrasse, Sendlingerstrae, Theatinerstrae, Nrnberg, Breiter
Gasse, Airport Stuttgart, Calwerstrae, Eberhardstrae, Kirchstrae, Knigstrae, Kronenstrae, Kronprinzstrae, Lautenschlager Strae, Marienstrae, Marktplatz,
Rathausstrae, StiffstrasseGhana, Accra, A&C Mal, Oxford Street at Osu, Greece, Athens, Andrea Papandreou Street, Athens International Airport, Avenue Piraeus,
Gialos, SpataE. Clayton Street, Ermou Street, Monastiraki Square, PhiladelphiaSkoufa, KolonakiThe Mall Athens, Hungary, Budapest, Andrssy t, Arena Plaza,
Budapest Downtown, Corvin Bevsrlkzpont Outlet, District Viii, Holl Utca, Mammut Shopping Mall, Market Central Ferihegy, North-East Part Of The Kki, Vci t,
Vrsmarty Square, Westend City Center, India, Mumbai, Horniman Circle, Infnity Mall 2, Kurla Area, Linking Road, Neptune Magnet Mall, Phoenix Market City,
Phoenix Shopping Mall,Shangri-La Hotel, Taj Palace Hotel, Ambience Mall, Connaught Place, Dlf Emporio Mall, Oberoi Gurgaon Hotel, Select Citywalk, Shopping
Center The Gallery Mg, South Extension Ii, The Hotel Cladridges, Indonesia, Jakarta, Central Park Mall, Grand City Surabaya Mall, Jl. Sultan Iskandar Muda, Mal
Kelapa Gading mall, Plaza Indonesia, Plaza Senayan, Senayan City, Sunter, Ireland, Dublin, Blanchardstown, Chatham Row, Dublin 2, Dawson Street, Dundrum Town
Centre, Fallon Gateway Sc, Finglas, Grafton Street, Greencastle Retail Park, Jervis Street Shopping Centre, Kilgobbin Road, Dublin 18, MargaretS Road, Mary Street,
Millfeld Shopping Centre, Paul Sexton Garden, St Andrew Street, Veterans Boulevard, Wicklow Street, Israel, Tel Aviv, Bazel Square, Dizengoff Center, G Zameret
Boutique Mall, Gan Hayir Shopping Center, Kikar Hamedina, Menachem Begin Street, Ramat Aviv MallItaly, Florence, Piazza SignoriaItaly, Florence, Via Della Signoria
491
AllAngolo, Italy, Florence, Via San Quirico, Milan, Vittorio Emanuelle Ii Gallery, Corso Monforte, Corso Venezia, Galleria Del Corso, Via Dante, Via Della Spiga, Via
Gesu, Via Manzoni, Via Montenapoleone, Va Ruggero Boscovich, Via Torino, Naples, Corso Sparano, Main Train Station, S.S. Sannitica, Via Calabritto, Via Filangeri,,
Via Scarlatti, Via Toledo, Rome, Collatina Street, Piazza Di Spagna, Via Babuino, Via Bocca Di Leone, Via Borgognona, Via Campo Marzio, Via Dei Condotti, Via Dei
Due Macelli, Via Del Babuino, Via Del Corso, Via Delle Carrozze, Via Delle Convertite, Japan, Osaka, QS Mall, Tokyo, Daikanyama, Ginza, Ginza 4-Chome Bldg,
Ginza Komatsu Bldg, Minami Aoyama, Roppongi, Roppongi Hills, Kuwait, Kuwait, 360 Mall, Al Jawhara Complex, Alhamra Tower, Avenues Mall, Awtad Mall, Jahra Al
Salam Complex, Marina Mall, Lebanon, Beirut, Abc Mall Achrafeh, Allenby Street, Bab Idriss, Berytus Building, Centre Sofl, El Moutran Street, Ivory Building, Achra-
feh, Palladium 2, Park Avenue Mina El Hosn, Lesotho, Maseru, Maseru Mal, Luxembourg, Luxembourg, Boulevard Royal, Malaysia, Kuala lumpur, Avenue K
shopping center, Fahrenheit88, Jalan Imb, Jalan Wan Kadir, Kuala Lumpur International Airport (KLIA) Satellite Building-Gates, Pavilion Kuala Lumpur, Starhill Callery,
Suria KLCC shopping mall, The Gardens Mall, Tiga, Bangsar Bary, Mauritius, Mauritius, Bagatelle Mall of Mauritius, Mexico, Mexico City, Antara Fashion Hall, Av.
Presidente, Avenida Presidente Masaryk, Benito Jurez International AirportS Terminal Two., Centro Comercial Mundo E, Commercial Center Plaza Satellite, Depart-
ment Store Palacio De Hierro Interlomas, Luxury Park Plaza Shopping Mall, Paseo Interlomas Mall, Santa Fe Mall, Calle 183, Monaco, Monaco, Avenue Des Citron-
niers, Boulevard Des Moulins, Htel De Paris, Mtropole Shopping Center, Place Du Casino, Rue GrimaldiMorocco, Casablanca, Galeries Lafayette, Mediterranean,
Morocco Mall, Marrakech, Av Mohamed VI, Avenue Yakoub el Mansour, Avenue Haroun Rachid, rue Du Temple, Quartier Hivernage, Zone touristique, village Agdal,
Netherlands, Amsterdam, Centre Of Amsterdam, Cornelis Schuytstraat, Damrak, Damsquare, Hartenstraat, Heiligeweg, Herengracht, Jacob Obrechtstraat, Kalverst-
raat, Leidseplein, Leidsestraat, Magna Plaza, Nieuwezijds Voorburgwa, Pazzanistraat, PC Hooftstraat, Reestraat, The Bijenkorf, Utrechtsestraat, Van Baerlestraat,
Zuidermolenweg, Maastricht, Kleine Staat, Mcarthur Glen Roermond, Nigeria, Lagos, Adeniran Ogunsanya Street, Adeola Odeku Street, Amodu Tijani, Chase Mall,
Ikeja City mall, Ikota Shopping Complex, Lekki, Olosa Street, Palms Shopping Mall, Polo Park, Sanusi Fafunwa Street, Transcorp Hilton, Norway, Oslo, Bogstadveien,
Gronnegata, Hegdehaugsveien, Oslo Airport, Panama, Panama, Albrook Mall, Multicentre Shopping Mall, Panama Tocumen Airport, Philippines, Manila, Makatis
GreenbeltPhilippines, Manila, One Rockwell, Powerplant Mall, Robinsons Galleria Mall, Rustans Makati, Shangri-La Plaza, SM Mall of Asia Complex, Poland, Kato-
wice, Chorzowska, Shopping Center Plejada Sosnowiec, Szczecin, Al. Niepodleglosci, Kaskada Gallery, Outlet Park Szczecin, Warsaw, Blue City Shopping Center,
Klif Warszawa Shopping Centre, Nowy Swiat, Plac Trzech Krzyy, Shopping Center Arkadia, Ul. Jana Pawa Ii, Warsaw Financial Centre, Wolf Bracka On Ul. Bracka,
Zlote Tarasy Shopping Center, Lisbon, Amoreiras Shopping Mall, Avenida Da Liberdade, Centro Comercial Colombo, Freeport Lisboa Designer Outlet Resort, Galerias
Saldanha Residence, Mercado De Santa Clara, Rua Castilho, Rua Do Carmo, Ra Garrett, Rua Nova Do Almada, The Mall Sc, Qatar, Doha, Lagoona Mall, Landmark
Mall, Mirdif City Centre Shopping Mall, Villaggio Mall, Romania, Bucharest, Af Palace Cotroceni, Aleea Barajul Dunarii St., Baneasa Shopping City, Calea Victorie,
Dorobanti Road, Jw Marriott Grand Hotel, Palace Cotroceni, Radisson Blu Hotel Complex, Timisoara Boulevard, Russia, Moscow, Afmall City, Department Store Gum
On Red Square, Golden Babylon Rostokino, Hotel Moskva, Kapitoly Vernadskova Mall, Mega Tepliy Stan, Pl. Kiev Station 2, Seasons Gallerie Shopping Mall, Shopping
Center Metropolis, Leningrad Prospect, Shopping Center Gorbushka, Stoleschnikow Pereulok, The Mkad Ring Road, Tretyakov Passage, Tsum Department Store,
Tsvetnoy Central Market, Tverskaya Ulitsa, Ul. Ordzhonikidze, Ulitsa Krasnaya Presnya, Varshavskoe Shosse, Vegas Shopping Mall, St. Petersburg, Four Seasons
Lions Gate Hotel,Grand Canyon Department, Nevsky Prospect, Outlet Center, ShoppingCentre Hay, The Grand Kanyon Retail Centre, Saudi Arabia, Riyadh, Al
Talhiya Street, Kingdom Mall, Olaya Street, Scotland, Edinburgh, Balgreen Road, Fountainbridge, Frederick Street, George Street, Hillcrest Parkway, Princes Street,
Sighthill, St MaryS Street, Stevenson Road, Serbia, Belgrade, umieva Bb, Lokal 96, Knez Mihailova Street, Kralja Milana, Serbia Sava Centar, Shopping Center
Pasino Brdo, Terazije, Singapore, Singapore, Causeway Point, Knightsbridge Mall, Marina Bay Sands, Orchard Building, Orchard Road, Paragon Building Shopping
Mall, Scott Square Road, Takashimaya Shopping Centre, The Shoppes At Marina Bay Sands, Vivo City, South Africa, Alexandra, Pan Africa Shopping Centre, Cape
Town, Bree Street, Canal Walk Shopping Centre, Kloof Street, Milnerton, the V&A Waterfront, Wale Street, Johannesburg, Wale Street, Clearwater Mall, Corlett drive,
Rustenburg, Hype Park, Juta Street, Nelson Mandela Mall, Parkhurst, Royal Place, Sandton City Mall, Stanley, Weltevreden Park, Lephalale, Lephalale Mall, South
Korea, Daegu, Hyundai Department Store, Seoul, Cheongdamdong, D-Cube City Shopping Center, Gwangmyeong, Outskirts Of Seoul, Incheon International Airport,
Lotte World Duty Free, Myeongdong Central, Spain, Barcelona, Avenida Pablo Casals, Avinguda Diagonal, Calle Pelayo, Calle Provenza, Calle Roselln, Calle Ser-
rano, Carrer De La Vidriera, Carrer De Provena, Las Arenas, LIlla, Paseo De Gracia, Passeig De Grcia, Rambla Catalunya, Rambla De Catalua, Madrid, Calle
Alcala, Calle Claudio Coello, Calle Fuencarral, Calle Goya, Calle Menorca, Calle Ortega Y Gasset, Calle Serrano, Factory De Getafe, Gran Va, Majadahonda Outlet
Mall, Plaza Del Marques Salamanca, Plaza Norte 2, Rambla De CataluaSan Sebastin De Los Reyes, Malaga, Larios Shopping Center,, Seville, Calle Sierpes,
Plaza De San Francisco, Sweden, Stockholm, Biblioteksgatan, Birger Jarlsgatan, Gallerian, Johannesgrnd, Norrlandsgatan, Sergelgatan, Stockholm Quality Outlet
Barkarby, lm, Taby Centrum, Switzerland, Basel, Aeschenvorstadt, Birsstrasse, Elisabethenstrasse, Freie Strasse, Gerbergasse, Gterstrasse, Migros-Fachmarktzen-
trum Mparc Dreispitz, Steinenvorstadt, Sdpark Basel, Bern, Marktgasse, Neubrckstrasse, Spitalgasse, St. Gallen, Von Werdt-Passage, Biel, Bahnhofplatz, Ni-
daugasse, Geneva, Rue Card, Rue De La Rtisserie, Rue Du Rhne, Gstaad, Bahnhofstrasse, Grand Hotel Park, Palace Hotel, Promenade, Lausanne, Lausanne
And Geneva, Rue De Bourg, Rue Du Grand-Pr, Locarno, Piazza Grande, SantAntonino, Via Serrai, Via Varenna, Lugano, Cadenazzo, Via Balestra, Via Degli Alb-
rizzi, Via Nassa, Via Pessina, Luzern, Alpenstrasse, Emmen Center, Grendelstrae, Habsburgerstrasse, Horwerstrasse, Moosmattstrasse, Mhlenplatz, Rothenburger
Industrieareal Wahlingen, Schnbhl Shopping Center, Untergeschoss Von Sbb Railcity, Weinmarkt, St. Gallen, Davidstrasse, Gallusstrasse, Ladenpassage, Langgas-
se, Multergasse, Neugasse, St. Leonhardstrasse, Vonwilstrasse, Westcenter, St. Moritz, Palace Galerie, Via Maistra, Via Serlas, Winterthur, Bahnhofplatz, Marktgas-
se, Rmerstrasse, Rosenberg Shopping Center, St. Galler Strasse, Unteren Vogelsangstrasse, Unterer Graben, Zrich, Bahnhofstrae, Birmensdorferstrasse, Dieti-
kon, Einkaufszentrum Glatt, Freyastrasse, Glatt Zentrum, Limmatquai, Lintheschergasse, Marktgasse, Niederdorfstrasse, Oerlikon, Rennweg, Shopville-Railcity Zrich,
Storchengasse, Weite Gasse, Werdmhleplatz, Whre, Zrich Airport, Taiwan, Taipei, Bellavita Shopping Center, Landmark Building 101, Ming Yao Department Store,
Thailand, Bangkok, Bangna-Trad Rd, BangkokS Gaysorn Shopping Mall, Central Plaza Grand Rama 9, Central Plaza Ladprao, Central World Shoping Center, Em-
porium Mall, Rama Iv Road, Siam Paragon, Terminal 21, The Emporium Shopping Complex, Turkey, Istanbul, CityS Shopping Mall, Abdi Ipeki Cad, Abi Ipekci
Caddesi, Akatlar Shopping Mall, Bagdat Caddesi, Caddesi, Demirren Istiklal Mall, Istanbul Istinye Park, IstanbulS ili District, Istinye, Kagithane District, Niantai,
Saadetdere Mah, UAE, Abu Dhabi, 9Th Street, Abu Dhabi Mall, Abu Dhabi Marina Mall, Airport Road, Al Beri Resort, Al Wahda Mall, Dalma Mall, Hadbat Al Zafranah
- 2Nd St, Mushrif Mall, Umm Al Nar Area, Dubai, Al Ain Mall, Downtown Dubai, Dubai Mall, Mall Of Emirates, Mirdif City Centre, Oasis Centre, Ukraine, Kiev, Bassey-
naya Str. 5, Krasnoarmeyskaya Street, Mandarin Plaza Mall, Moskovska street, St. Khreschatyk, United Kingdom, Gateshead, Metrocentre Shopping Center, Lon-
don, Bluewater, Brent Cross Shopping Centre, Brompton Road, Carlos Place, Harrods London, King Street, London Stock Exchange, Paternoster Square, Motcomb
Street, Mount Street, New Bond Street, Old Bond Street, Oxford Street, Premier Inn Thurrock West, Stonehouse Ln, Regent Street, Sloane Street, The Royal Exchange,
Westbourne Grove, Westfeld London, Westfeld Mall, Westfeld Stratford, Manchester, Cheetham HillS Manchester Fort Shopping Park, Great Ancoats Street, House
Of Fraser, Manchester Arndale Centre, Market Street, Oldham Street, Oxford Road, Spinningfelds, The Trafford Centre, USA, Chicago, North Michigan Avenue, North
Rush Street, Rosemont, Ill., Near OHare International Airport, Water Tower Place, Florida, Aventura Mall, Collins Avenue, Lincoln Road, Miami, Pier Park, Sea Turtle
Dr., Tampa, Worth Avenue, Miami, Houston, Almeda Crossing Shopping Center, Department Store Galleria, The Galleria, Las Vegas, Bellagio Hotel, Crystal Castles,
Crystals At Citycenter, Las Vegas Boulevard, Los Angeles, Beverly Center, Brighton Way, Dayton Way, Melrose Avenue, Rodeo Drive, South Robertson Boulevard,
New York, Bal Harbour Luxury Sc, Bleecker Street, Broadway, Broadway And Spring Street, Carlyle Hotel, Central Park South, Columbus Avenue, Crosby Street, Fifth
Avenue, Grand Central Terminal, Grand Street, Greene Street, Luxury Department Store Bergdorf Goodman, Madison Avenue, Puck Building, Lafayette St., Rockefel-
ler Centre, Spring Street, Third Avenue, Washington Street, West 34Th Street, Woodfeld Mall, San Francisco, Fillmore Street, Geary Street, Market Street, San
Francisco Airport, Stockton Street, Union Square, Vietnam, Hanoi, Ba Trieu, Hng Da Galleria, Ly Thai To, Parkson Landmark, Parkson, Keangnam Landmark, Phan
Chu Trinh, Pico Mall, The Garden Shopping Mall, Trang Tien Plaza, Hochiminh City, Bitexco Building, Crescent Mall, Rex Arcade - Rex Hotel, Vincom Center Zambia,
Lusaka, Levy regional shopping centre
492
Luxury Retailer
7 For All Mankind, A. Lange & Shne, Aigle, Aigner, Akris, Alexan-
der McQueen, Alexander Wang, Anne Fontaine, Armani, Armani Ex-
change, Ascot Chang, Audemars Piguet, Balenciaga, Bally, Balmain,
Barbara Bui, Baume & Mercier, Bell & Ross, Bogner, Bottega Vene-
ta, Boucheron, Breguet, Brioni, Brunello Cucinelli, Buccellati, Bu-
dapester Schuhe, Bulgari, Burberry, Calvin Klein, Canali, Car Shoe,
Carhartt, Carl F. Bucherer, Carlo Pazolini, Carolina Herrera, Cartier,
Casadei, Cline, Chanel, Chlo, Chopard, Christian Dior, Christian
Louboutin, Churchs, Coach, Coccinelle, COMME des GARONS,
Comptoir des cotonniers, Damiani, De Beers, Dirk Bikkembergs,
DKNY, Dolce & Gabbana, Donna Karan, Dorothy Perkins, Ducati,
Elie Saab, Elisabetta Franchi, Emilio Pucci, Emporio Armani, Eres,
Ermanno Scervino, Ermenegildo Zegna, Escada, Etro, Fendi, Ferra-
ri, Fred Perry, Givenchy, Gucci, Hackett London, Harmont & Blaine,
Harry Winston, Helmut Lang, Herms, Herve Leger, Hogan, Hublot,
Hugo Bosss, Jaeger-LeCoultre, Jaquet Droz, Jean-Michel Cazabat,
Jimmy Choo, Karen Millen, L.K Bennett , La Perla, Labelux, Lam-
borghini, Lancel, Lanvin, LES AMBASSADEURS , Loewe, Longchamp,
Longines, Loro Piana, Louis Vuitton, Ludwig Reiter, Maison Martin
Margiela, Manolo Blahnik, Marina Rinaldi, Marith + Francois Gir-
baud, Marni, Massimo Dutti, Max Mara, Michael Kors, Missoni, Miu
Miu, Moncler, Montblanc, Moschino, Moynat, Mulberry, Navyboot,
Nicholas Kirkwood, Offcine Panerai, Omega, Pandora, Paul Smith,
Philipp Plein, Piaget, Pomellato, Porsche Design, Prada, Pretty Bal-
lerinas, Rado, Ralph Lauren, Rebecca Taylor, Reuge, Richard Mille,
Richemont, Roberto Botticelli, Roberto Cavalli, Roger Vivier, Rolex,
Rolls Royce, Salvatore Ferragamo, Sergio Rossi, Stefanel, Stefano
Ricci, Stella McCartney, Steve Madden, Strenesse, Stuart Weitz-
man, Swarovski, Tag Heuer, Tara Jarmon, The Hour Glass, Thomas
Pink, Tiffany & Co., Tod's, Tom Ford, Tory Burch, Trussardi, Vacheron
Constantin, Valentino, Van Cleef & Arpels, Versace, Vertu, Vivienne
Westwood, Yves Saint Laurent, Zadig & Voltaire, Zenith
Mainstream Retailer
23 Sports, 981 Bike Shop, 99 Cents, A. Lange & Shne, A.P.C, Aber-
crombie & Fitch, Accessorize, Ace Hardware, Acne Studios, Ader-
lass Top-Store, Adidas, Adidas-SLVR, Adolfo Dominguez, Aropos-
tale, AGATHA, Agent Provocateur, Aktiv Schuh, Albeck-Moden,
Alcott, Aldi, ALDO, Alepa, Alessi, AllSaints, Alltours, AMC, America
Today, American Eagle, American Vintage, Angry Birds, Ann Harvey,
Anteprima, Apollo Optik, Apple, Arche, Aritzia, Armata Di Mare, Ar-
queonautas, Artemano, Aspinal, Athleta, Atrium, Aubade, Auchan,
Austin Reed, AVANTI, Avon, BabyECO, Baci Lingerie, Baci Lingerie,
Bckerei Stadtmhle, Baldinini, Bambi Nina Bruckner, Bamburi,
Banana Repulbic, Bank Linth, Br Schuh, Barrique, Basler, Bata,
Bath & Body Works, BAUHAUS, BCBG MAXAZRIA, Bench, Beneft,
Benetton, Bento Box, Bernies, berryKISS, Bershka, BestBuy, Best-
seller, Bexley, Biba, Bikestop, Billa, Billa Romania, Billabong, Bio
Company, BlackBerry, Blanco, Blaek, BoConcept, Boggi Milano,
Boogs, Botty, Bovida, Brandy & Melville, Brigitte Von Boch, Brooks-
feld, Buffalo, Burger King, Butlers, C&A, Caleidos, Calida, Caluw
Artisan Chocolatier, Calzedonia, Camaeu, Camp David, Camper,
Campo Marzio, Campo Marzio Design, Capi, Capsula, Cara&Co,
Cardn, Carlo Pignatelli, Carlton, Carmen Steffens, Carrefour, Cas-
Retailer
.
sina, Celio, Cellier des Princes, Cerre, Changemaker, Chantelle,
Charanga, Charles Tyrwhitt, Charles Vgele, Cheap Monday, Chel-
sea, CHIXNGRAVY, Chronostock, CINQUE, Citizen, Claires, Clarks,
Claudie Pierlot, Closed and 14 oz., Club Monaco, Coca-Cola
Clothing, Coiffeursalon Beato, Comma, Confserie Sprngli, Confo
Dco, Convenience store Lawson, Converse, Coolway, Coop, Corne-
liani, Cortefel, COS, Costco, Cotton On, Cottonfeld, CR Vanguard,
Credit Suisse, Crocs, Custo Barcelona, D&G, Daiso Japan, Damas,
Daniel Hechter, Daniels, DAY Birger et Mikkelsen, DC Shoes, De-
benhams, Debro Holding, Decathlon, Declic, Deha, Deichmann, De-
liberti, Delvaux, Denner, Depot, Desigual, Dewitt, Diamond Nexus,
Dickies, Diesel, Digidog, Digitec, Dior, Dior Homme, Disney, DKNY
Intimates, Dm, Do it Best Corp, Dolmetsch, Don Gil, Dorotheum, Do-
senbach Schuhe und Sport, Douglas, Douglas Hannant, DSquared,
Eckerle, EEN, EFI, EILEEN FISHER, El Ganso, Element, Elf Cra, Eli-
ane, Energie, Esprit, Etam, Etnies, Euroset, Evans Cycles, Express,
Eyes & More, F.P. Journe, Faberg , Fabrizio Giannone, Faconnable
Jeans, Falcon Private bank, Faliero Sarti, Fame, Famous, Fashion
Outlets of Chicago, Fashion Queen, Fielmann, Filippa K, FixGear
and SingleSpeed, Flamenco, Flip Flop, Fly London, Fnac, Focus, Fo-
gal, Food Depot, Foot Locker, Forever 21, Fosco, Fossil, Fred de la
Bretoniere, Frederique Constant, Freitag, French Connection,
Fressnapf, Frey Wille, Fricker Shoes, Funkyfsh, G.Point, GRoby,
Galeries Lafayette, GameStop, Gant, Gap, Gap Inc., Garage, Garcia
Jeans, Gate, Geox, Gerry Weber, Gif, Gilly Hicks, Gina Tricot, Gi-
ordano, Global Fashion, Globetrotter, Gloria Jeans, Go Outdoors,
Google, Gries Deco Company Depot, Grupo Cortefel, G-Star, Gud-
run Sjdn, Guess, Guinness, Gunung Agung, H&M, Habitat, Hair-
X-Luzern, Hakei, HAKO Schuhe, Hallhuber, Hamleys, Hard Rock
Caf, Harvey Nichols, Harveys, Helly Hansen, Hering, Hertie, His-
panitas, HMV, Hoff, Hgl, Hollister, Holyfelds, Hope, Horkans,
Horsch schuhe, Hoss Intropia, Hot Fudge, Hotel Chocolat, Hotel De
Paris, HP, HTC, Hunkemller, Hush Puppies, Hysek, I Pinco Pallino,
Ice Watch, Iceland, IKEA, Il Gufo, IMAGE HADDAD, Imaginarium,
Incu, Intermix, International Plaza mal, Intimissimi, iPhone Klinik,
J.Crew, Jacadi, Jack & Jones, Jack Wolfskin, Jane Norman, Jay
Godfrey, JD Sports, Jeffrey Campbell, Jo Jos Danish Bakery and
caf, Jo Malone, Joe Fresh, Joes Jeans, John Lewis, Joules, Jour-
nelle, Juan Valdez Cafe, Juicy Couture, Jumex, Jumpin, Juwelier
Grwang, Kadangas, Kaiserhof Kitzbhel, Kamps, Kaporal, Kap-
pAhl, Kardashian Khaos, Karstadt, Katakeet, Keller Sports, Kennel
& Schmenger, Kent, KFC, KIBOOTS, Kiehls, KIK Textilien, KiKo, Kip-
ling, Kobra, kyBoot, L.Guillo, La Martina, La Prairie, La Senza, La-
coste, Lacoste L!ve, Lderach, Lagkagehuset, LalaBerlin, Lambert,
Lambretta, Lancaster, Landmark Group, Lane Crawford, Lanifcio
Colombo, Lauren Vidal, LC Waikiki, Le Coq Sportif, Le Palais des
Ths, Lecoanet Hemant, Lego, Leica Boutqiue, Leiser, Lena Ho-
schek, Lenovo, Leroy Merlin, Les Petites, Letec, Levis, Li Ning, LIALI
Jewellery, Lidl, LIEBESKIND, Liebeskind Berlin, Lindex, LINUS,
LOLA, Lomography, LOOK, Loreak Mendian, Lsche Pelze, Lotte
Mart, Lottusse, Louis GIGAStore, Loxwood, Lum, Lumimart, Lush,
Luxenter, M.A.C, Machja, Mackintosh, Madison, Madoxx Fashion,
Mais il est o le Soleil, Mais ptica, Maison-NL, Maje, Make Up For
Ever, Mamas & Papas, Mammut, Manchester City, Mango, Marcel,
493
Maria Nilsdotter, Marimekko, Marisa Lingerie, Marks and Spencer,
Marokk,, anse, Marshalls, Masters, Mavi Jeans, Max Moretti, Ma-
xim Voznesensky, Maybelline, Mc Adam Kitchens, McArthurGlen
Group, McDonalds, MCM, MCS, Media Markt, Meermin, Mens
Wearhouse, Metro, Metro Boutique, Metro Cash & Carry, Mexx, MGX
by Materialise, Michel Jordi, Migros, Migue Suay, Milus, MIMIMASO
& JOVANA MARKOVI, Minelli, Minotti, Miss Sixty, moda.verde, Mo-
diana, Molino, Monki, Monnalisa, Monoprix, Monsoon, Movistar,
MQ store, Mr Bricolage, MUJI, Mller, m-way, Myracle, MyShoes,
NafNaf, Nandos, Napapijri, Naracamicie, National Geographic, Na-
tori, Naturalia, Naulover, Neck&Neck, Neo/Adidas, Nespresso, New
Look, New Yorker, Nike, Nine West, Nira Hotels & Resorts, NKD, Noa
Noa, Normana, Norrna, NORTHLAND, ONeill, OASICS, OBI, OBI
KOKI, Oldo, Olymp, Optical store, Options, Orange, Orange Glo-
bus, Orange/CityDis, Orchestra, Orell Fssli, rgreen, Orianne
Collins, Outlet Center, OVS, Pal Zileri, Panerai/Aeropostale, Pa-
tagonia, Patrick Msiano, Paul, Peacocks, Peak Performance,
Peek&Cloppenburg, Perrin Paris, Phoenix Market City Mall, Piazza
Sempione, Piero Guidi, Pimkie, Piquadro, Planet Sports, Pointer,
Poltrona Frau, Portugal Modernista, Power food, Prnatal, Presen-
de Strickler, Press & more, Pretorian Hard Sport, Primark, Pringle
of Scotland, Pronovias, Provocateur, Pull & Bear, Punto Blanco,
Pura Lpez, Pure Gold Jewellers, Pylones, Quiksilver, Rafael Catal,
Raiffeisen bank, Rautakesko, Red Wing, Reebok, Refan, REI, Reiss,
Reno, Replay, Riachuelo, Rich & Royal, Rip Curl, Rituals, River Is-
land, Rockport, Roger Dubuis, Roland Mouret, Rossmann, Roy Rob-
son, Royal Asscher, Ruco Line, RUGBY, Runners Point, Ryffel Run-
ninG, S.Oliver, Sacha, Sacoor Brothers, Sainsbury, Salamander,
Sample Central , Samsonite, Samsung, San Serriffe bookstore,
Sandro, Sandro & Maje, Satellite, Saturn, Scavolini, Schild, Scoop
NYC, Scotch & Soda, Sephora, Serapian, SEVEN SINS, Sharaf DG,
Sherpa Outdoor, Shuala, SICIS, Silesia City Center, Simorra, Sita
Murt, SMETS, Smiles, Sony, Spar, Spar Express, Starbucks, Star-
bucks & SSP, Steiff, Steps, Stiletti, Stockmann, Street One, SUA
Galeria, Suitsupply, Sundek, Superdrug, Superdry, SuperTrash, SU-
ZAAN HEYNS, Swatch, Tabio, Takko, Tally Weijl, Tamaris, Target, Ta-
schen, Tati, TAUERNGOLD & DAVID DIAMOND, Tchibo, Ted Baker
London, TEDi, Tesco, The Body Shop, The Co-operative, The Goose,
The Kooples, The North Face, The Perfume Shop, The Room, The
White Company, Thomas Cook, Thomas Sabo, Tiger, Tiger of Swe-
den, Timberland, TK Maxx, T-Market, Tom Tailor, Tombolini, Tommy
Hilfger, Toni & Guy, TOP SHOES, Topshop, Topshop - Topman, TOUS,
Toys R Us, Tretorn, Tricot, Triump, True Religion, Tuc Tuc, TUDOR
U.S. Polo Assn, UGG, Uniqlo, UNITED COLORS OF BENETTON, UNI-
TED NUDE, Unrath & Strano, Unser Markt, Urbaks, Urban Outftter,
Used-Design, Valiant Bankgroup, Van Bommel, VAN GRAAF, Van
Heusen, Vanessa Bruno, Vanishing Elephant, Vans, Vapiano, Velo-
statt, Vero Moda, Victoria couture, Victorias Secret, Victorinox,
VIPP, Vodafone, Walbusch, Walmart, Watch Station, Waterstones,
WE Fashion, Wellensteyn, WeSC, WestGem, White Stuff, Wickes,
Wolford, Won Hundred, Wood Wood, Woolworths, Wosley, Yenikol-
ka, Yves Rocher, Zalando, Zara, Zara Home, Zellig, Zenana, Zilian,
Zippy, Zwei Franken Shop
494
We thank all companies and journalists for providing the articles and reports. Due to the amount of resources, we have placed at random, the origin of the reports.
We provide other sources of information upon your request.
General
Textilwirtschaft
http://www.textilwirtschaft.de
Vogue
http://www.vogue.com
Pambianco News
http://www.pambianconews.com
Bloomberg
http://www.bloomberg.com
CPP Luxury
http://www.cpp-luxury.com
Retail Week
http://www.retail-week.co.uk
Property Week
http://www.propertyweek.com
The Real Deal
http://therealdeal.com
China Retail News
http://www.chinaretailnews.com
GfK Geomarketing
http://www.gfk-geomarketing.com
Immobilien Zeitung
http://www.immobilien-zeitung.de
Shoppingcenter Switzerland
http://www.tagesanzeiger.ch/zuerich/gemeinde.htmlUmbruch-im-Glattzentrum/story/14186110/print.html
http://www.zeit.de/2011/32/CH-Desigual
http://www.glatt.ch/resources/Medientext_GGG.pdf
http://realestatedays.ch/media/real_estate/pr%C3%A4sentationen%202011/wincasa.pdf
http://www.blick.ch/news/wirtschaft/das-sind-die-top-shopping-tempel-der-schweiz-172888
http://www.handelszeitung.ch/unternehmen/diese-shoppingcenter-sind-top
http://www.baublatt.ch/news/hintergrund/bernaqua-bad-bleibt-bis-2012-zu
http://bazonline.ch/panorama/vermischtes/Darum-stuerzte-im-Bernaqua-die-Decke-ein/story/11502335?track
http://www.buchreport.de/nachrichten/handel/handel_nachricht/datum/2011/06/14/faechenexpansion-hat-zu-lange-unser-denken-dominiert.htm
http://www.migros.ch/mediaObject/migros_ch/ueber_die_migros/regionen/aare/unternehmen/bilanzmedienkonferenzthun010411/original/bilanzmedienkonferenzthun010411.pdf
http://www.westside.ch/getdoc/f4019f36-c48d-4511-9855-b447d8da2fd3/Medienmitteilung_1-Jahr-Bilanz_Okt-09.aspx
http://www.bernerzeitung.ch/region/bern/Leere-Laeden-im-Westside--Das-ist-ein-Vorurteil/story/12273264
http://www.derbund.ch/bern/Westside-muss-noch-zulegen/story/24683845
http://www.robe-verlag.ch/fleadmin/seiteninhalt/pdfs/bib/BIB_westside_08_06.pdf
http://my.arch.ethz.ch/kehoeger/publications/0810_Westside-Bruennen_archithese.pdf
http://www.orellfuessli.com/uploads/media/070621_Medienmitteilung_OFB.pdf
http://www.tageswoche.ch/de/2011_49/basel/120914/
http://www.blick.ch/news/wirtschaft/coop-kauft-volkiland-188447
https://mediasaturnstore.blob.core.windows.net/frontend/media/press-releases/de_20110926_neuchatel_eroeffnung.pdf
Zrich Airport
http://www.fughafen-zuerich.ch/desktopdefault.aspx/tabid-514/
http://www.tagesanzeiger.ch/zuerich/unterland/Neuer-ZollfreiShop-bringt-bis-zu-40-Millionen-Franken-Umsatz/story/29208701
http://www.tagesanzeiger.ch/news/standard/Flughafen-wappnet-sich-fuer-Kundenansturm/story/20471430?dossier_id=1073
Railcity Switzerland
http://m.sbb.ch/news.newsdetail.2011-9-2209_45_03.html
http://www.sbb.ch/bahnhof-services/am-bahnhof/bahnhof/shopville-railcity-zuerich/newsmeldung-railcity-zuerich.html
Sources
.
495
Retail Real Estate Market
http://qbusiness.pl/uploads/Raporty/cweretail32011.pdf
http://www.bestwood.de/2011/10/18/einzelhandel-europa-ahnliche-entwicklungslinien-bei-unterschiedlichem-entwicklungsniveau/
Purchasing Power Switzerland
www.ubs.com/2/e/.../Preise_Loehne_2011_e.pdf
http://www.time.com/time/business/article/0,8599,2019589,00.html
http://mobile.bloomberg.com/news/2011-08-15/swiss-ponder-unthinkable-as-world-s-chaos-turns-franc-economy-upside-down
http://www.forbes.com/2009/08/24/best-paid-cities-lifestyle-real-estate-worlds-income-salary_slide_2.html
http://www.gfk-geomarketing.com/fleadmin/newsletter/pressrelease/purchasing-power-dach-2011.html
http://www.tagesanzeiger.ch/zuerich/stadt/FeinKaller-gibt-sein-Geschaeft-auf/story/29584993
http://www.tagesanzeiger.ch/kultur/architektur/So-wird-Luganos-200MillionenPrestigebau-aussehen/story/24982703
http://www.tagesanzeiger.ch/wirtschaft/agenturen-ticker/Starker-Franken-lsst-Detailhandelsumstze-schrumpfen/story/20124899
http://www.nzz.ch/nachrichten/wirtschaft/aktuell/faues_weihnachtsgeschaeft_1.13857204.html
http://www.bernerzeitung.ch/wirtschaft/unternehmen-und-konjunktur/Loeb-mit-Umsatz-und-Gewinnrueckgang-im-Halbjahr/story/21600827
Investment Market Switzerland
http://www.kpmg.com/CH/de/Library/Articles-Publications/Documents/Advisory/pub-20111019-real-snap-shot-de.pdf
http://www.mieterverband.ch/fleadmin/alle/Dokumente/Statistik_Studien/Immo_Zahlen_CS_2011.pdf
http://www.derbund.ch/bern/Neue-Besitzer-fuer-das-Wankdorf-/story/30877247
http://www.engelvoelkers.com/ch/schweizcommercial/de/shop/Publikationen/Markbereinigung.pdf
http://www.baerkarrer.ch/contents/listcases/mid/5/lang/de
http://www.nzz.ch/nachrichten/wirtschaft/aktuell/migros_aeussert_sich_erstmals_zu_voegele-beteiligung_1.13857231.html
http://www.bilanz.ch/unternehmen/migros-depot-fuer-depot
http://www.coop.ch/pb/site/uebercoop/get/documents/coop_main/elements/ueber/geschaeftsbericht/2011/_pdf_gb2010/GB10_05_Verkaufsformate_d.pdf
http://www.sport-fachhandel.com/D/A/CH/Dosenbach-Ochsner-holt-sich-Beach-Mountain-Gesch%C3%A4fte.html
Germany
http://www.textilwirtschaft.de/business/pointofsale/laeden/show-Closed-by-14-oz-Berlin_1236.html?currPage=3
http://deal-magazin.com/index.php?cont=news&news=16720
http://www.deal-magazin.com/index.php?cont=news&news=14625
http://www.watchtime.net/nachrichten/hublot-eigene-boutique-am-kurfurstendamm/
http://www.sportswearnet.com/businessnews/pages/protected/7-FOR-ALL-MANKIND-OPENS-SECOND-STORE-IN-BERLIN_4298.html
http://www.abendblatt.de/hamburg/article2023168/Apple-eroeffnet-am-Sonnabend-neuen-Laden-am-Jungfernstieg.html
http://www.stern.de/wirtschaft/news/eroeffnung-in-hamburg-groesster-apple-store-der-republik-1728865.html
http://www.therandomnoise.com/thefashion/shop-eroffnung-in-berlin-ellesse/
http://www.rp-online.de/region-duesseldorf/duesseldorf/nachrichten/primark-oeffnet-an-der-schadowstrasse-1.2526346
http://www.rp-online.de/region-duesseldorf/duesseldorf/nachrichten/breuninger-zieht-in-den-koe-bogen-1.2140689
http://www.luehrmann.de/fleadmin/content/PDFs/citynews/2011/41_stuttgart_april_2011.pdf
http://www.colliers-bk.de/de/research/marktberichte.html?area=5&sm_flter=Filtern&fle=tl_fles/File_ research/research_de/STG_EZH-Marktbericht_2010-2011_fnal.pdf
http://www.joneslanglasalle.de/Germany/DE-DE/Pages/Research_RetailMarketProfles.aspx
http://www.ecostra.de/studien_und_marktberichte/
http://www.ecostra.de/presse/immobilienzeitung_2011-11-10.pdf
http://www.stuttgarter-nachrichten.de/inhalt.stuttgart-21-ece-auf-parkplatzsuche-am-bahnhof.ce152ccd-3cd3-4c23-8e7a-8f6ac8fbd33e.html
http://www.immobilien-zeitung.de/1000005853/stuttgart-breuninger-baut-quartier-am-karlsplatz-allein
Austria
http://www.peek-und-cloppenburg.de/en/news/latest-news/detail/article/peek-cloppenburg-opens-a-new-state-of-the-art-logistics-centre-in-reinbek/
http://www.fughafen-graz.at/home/presselounge/Buechershop-am-Flughafen-gelandet.de.php
http://www.fughafen-graz.at/home/presse_news/news/Shop-News---WestGem-opening.php
http://www.ses-european.com/fleadmin/user_upload/E_Press-release_Hollister_Co._to_Open_First_Stores_in_Austria.pdf
http://www.viereck.at/no_cache/en/news/article/neueroeffnung-mcdonalds-jakominiplatz-graz.html
http://www.facebook.com/events/105616459519862/
http://www.presse-artikel.org/2011/1-euro-discounter-tedi-expandiert-nach-oesterreich-und-eroeffnet-erste-fliale-in-graz-45293/
http://www.petcom.at/index/unternehmen/zoofachhandel-oesterreich/fressnapf/Fressnapf-Fachmarkt-Graz.html
http://www.swarovski-crystallized.com/world/stores/innsbruck/
Paris
http://www.hammerson.com/phoenix.zhtml?c=133289&p=prop-pd-54-60-rue-du-Faubourg-Saint-Honore
http://myworldinabag.blogspot.com/2011/11/fash-news-prada-colpisce-la-couture.html
http://www.meilleursagents.com/prix-immobilier/m2/rue-du-faubourg-saint-honore-2674/6/
http://www.watchtime.net/nachrichten/hublot-boutique-eroffnung/
http://www.worldtempus.com/en/news/top-news/detail/article/1319842405-jaeger-lecoultre-new-boutique-on-place-vendome-for-2012/
http://fr.fashionmag.com/news-121726-Louis-Vuitton-place-Vendome-
http://www.ft.com/intl/cms/s/0/94ed5e56-0946-11e1-8e86-00144feabdc0.html
http://www.styleranking.de/kolumnen/paris-blog/moynat-ein-neuer-geniestreich-von-bernard-arnault-eine-alte-koffermarke-macht-hermes-konkurrenz
496
London
http://business.highbeam.com/410162/article-1G1-235407618/bond-street-chanel-no-1-luxury-brand-pays-premium-secure
http://www.propertyeu.info/index-newsletter/lease-premiums-soar-in-london-as-retailers-jostle-for-space/
http://www.vogue.it/en/shopping/opening/2011/11/etro-opens-in-london
http://costarretail.wordpress.com/2011/07/15/will-cartier-sparkle-in-old-bond-street-sale/
http://www.bloomberg.com/news/2011-04-12/london-s-west-end-rents-surge-as-retailers-seek-european-growth.html
http://www.vogue.de/mode/accessoires/schmuck-schmuckdesignerinnen/schmuck-solange-azagury-partridge
http://www.keylens.de/uploads/media/02_Februar_Online_FTD_Die_edlen_Absichten_der_Milliardaere_kein_Printrecht.pdf
http://www.vogue.co.uk/spy/celebrity-photos/2011/01/26/tory-burch-shop-opening-london
http://cheriecity.co.uk/2010/12/09/mulberry-new-bond-street-fagship-store-opening
http://www.retail-week.com/property/victorias-secret-confrms-frst-uk-store-on-new-bond-street/5014352.article
http://www.retail-week.com/sectors/fashion/in-pictures-forever-21-oxford-street-fagship-opens/5027595.article
http://www.cushwake.com/ukoffces/documents/CapitalWatch_Apr11.pdf
http://www.telegraph.co.uk/fnance/newsbysector/constructionandproperty/7957967/Spanish-retailer-sets-new-record-for-Oxford-Street.html
http://www.telegraph.co.uk/fnance/newsbysector/retailandconsumer/8536516/Superdry-in-12m-Austin-Reed-deal.html
http://www.retail-week.com/stores/in-pictures-superdry-fagship-store-regent-street/5032157.article
http://rwkb.retail-week.com/CompanyOverview.aspx?Company=204&WT.ac=rwkb-pi-links
http://www.retail-week.com/property/hollister-signs-for-national-geographic-store-on-regent-street/5025435.article
http://www.supergroup.co.uk/investors/rns-feed/rnsnews/10896033
http://www.colliers.com/Markets/MAPIC/content/Great_Britain_Retail_Autumn_2011.pdf
http://www.londonlovesbusiness.com/commentanalysis/destination-london-for-brands-fagship-stores/596.article
BeNeLux
http://www.retaildetail.eu/nl/eur-europe/eur-food/item/12074-disney-store-antwerp-opened-magically
http://www.bewora.be/bedrijfsnieuws/caluwe_persbericht20-10-2011.pdf
http://denimmag.wordpress.com/2011/04/26/fred-perry-opent-eerste-belgische-winkel/
http://www.textilia.nl/nieuws/algemeen/nid5523-acne-opent-winkel-in-antwerpen.html
http://www.voguemoment.com/2011/04/event-steve-madden-in-antwerpen.html
http://www.cgtopia.eu/computer-graphics/frst-disney-store-of-belgium-in-antwerp
http://www.fusion-consulting.com
http://hypebeast.com/2011/04/een-amsterdam-store-opening/
http://www.optionsamsterdam.com/blog/options-new-contemporary-department-store-in-amsterdam-opening-3-december-2011
http://push.ca/blogs/meadows_sk/archive/2011/09/27/etnies-launches-new-retail-store-in-amsterdam.aspx
http://etnies.com/blog/2011/9/27/etnies-amsterdam-store-opening/?region=&region_save=Confrm%21
http://www.youtube.com/watch?v=dwFGXViXhK8
http://superfuture.com/supernews/amsterdam-cos-store-opening
http://www.21stcenturyvillage.com/roberto-botticelli.html
Milan, Rome
http://milano.blogosfere.it/2011/11/apple-store-milano-prada-batte-il-colosso-per-un-posto-in-galleria-vittorio-emanuele-ii.html
http://ch.advfn.com/nyse/StockNews.asp?stocknews=MCD&article=50230921
http://www.gapinc.com/content/gapinc/html/media/pressrelease/2010/med_pr_MilanOpenings11192010.html
http://www.pambianconews.com/henry-cottons-apre-il-primo-fagship-a-milano/
http://www.pambianconews.com/tombolini-fa-breccia-nel-quadrilatero/
http://vfno.vogueit/en/milan/special-initiatives/2011/08/paul-and-shark-and-vfno
http://www.pambianconews.com/gucci-riapre-in-montenapoleone-con-la-gucci-immersive-retail-experience/
http://www.pambianconews.com/ballin-inaugura-il-secondo-monomarca-milanese/
http://www.pambianconews.com/i-piumini-di-duvetica-trovano-casa-a-milano/
http://www.pambianconews.com/kiton-inaugura-stasera-a-milano-e-presenta-la-linea-donna/
http://www.pambianconews.com/primo-monomarca-per-tavecchi-a-milano/
http://www.pambianconews.com/virginia-preo-porta-il-suo-cashmere-a-milano/
http://www.pambianconews.com/brunello-cucinelli-nuova-location-a-milano/
http://www.pambianconews.com/giro-del-mondo-di-opening-per-brunello-cucinelli/
http://milano.blogosfere.it/2011/11/apple-store-milano-prada-batte-il-colosso-per-un-posto-in-galleria-vittorio-emanuele-ii.html
http://www.pambianconews.com/new-opening-romano-per-enzo-mantovani/
http://www.pambianconews.com/havaianas-sceglie-roma-per-il-suo-primo-store-italiano/
http://www.pambianconews.com/Nann-sceglie-Roma-per-il-secondo-store/
http://www.pambianconews.com/nuovo-fagship-a-roma-per-fossil/
Africa
http://www.pareto.co.za/news/23/72/The-new-expansion-at-Sandton-City-to-open-on-10-November-2011
http://www.cpp-luxury.com/en/louis-vuitton-to-open-frst-fagship-store-in-morocco-this-year_1031.html
http://www.topmorocco.com/en/news/post/352/starbucks-to-open-stores-at-morocco-mall/
http://www.fashionfromspain.com/icex/cda/controller/pageGen/0,3346,1549487_5857712_5857556_4533514,00.html
http://www.gadling.com/2011/11/18/galeries-lafayette-in-morocco-receives-frst-guinness-world-reco/
http://www.pambianconews.com/elisabetta-franchi-apre-a-casablanca/
http://www.bizcommunity.com/Article/196/182/67957.html
497
http://www.honestchocolate.co.za/news-shop-opening.html
http://www.bizcommunity.com/Article/196/182/57863.html
http://johannesburg.olx.co.za/new-bed-shop-open-in-weltevreden-park-west-rand-iid-292946816
http://www.lomography.com/magazine/events/2011/06/01/lomography-embassy-store-johannesburg-grand-opening-party
http://www.ferrari.com/English/about_ferrari/Corporate/Pages/100608_cor_new_ferrari_store_johannesburg.aspx
http://10and5.com/2010/03/09/new-shop-opening-in-jhb/ (nice pic)
http://www.visi.co.za/content/article/798/new-hq-for-liam-mooney
http://blog.sarahpacini.com/?p=128
http://cassiuseyewear.com/blog/2011/10/cassius-eyewear-coming-to-loom-johannesburg.html
http://www.joburgsdarling.co.za/post.aspx?id=101
America
http://pulse2.com/2009/06/04/apple-store-on-ffth-ave-in-new-york-earns-440-million-in-sales/
http://www.execdigital.com/cars_toys/exec-toys/apple-s-highest-revenue-retail-store-america-holds-special-allure
http://www.bloomberg.com/news/2011-03-04/zara-parent-inditex-pays-324-million-for-ffth-avenue-store-in-manhattan.html
http://therealdeal.com/blog/2011/04/12/joe-sitt-predicts-takashimaya-will-top-swatch-rent-at-666-ffth/
http://www.bloomberg.com/news/2010-04-19/uniqlo-s-ffth-avenue-lease-in-new-york-sets-price-record-for-retail-space.html
http://www.observer.com/2011/11/ted-baker-to-open-ffth-avenue-fagship/
http://seekingalpha.com/article/312534-sl-green-realty-s-ceo-hosts-annual-2011-institutional-investor-conference-call-event-transcript
http://www.wwd.com/retail-news/designer-luxury/brazils-luxury-boom-goes-on-3411267
http://modaspot.abril.com.br/news/asics-inaugura-primeira-loja-no-brasil
http://www.pambianconews.com/prima-boutique-brasiliana-per-canali/
http://www.cpp-luxury.com/en/prada-opens-today-its-frst-store-in-brazil--in-sao-paolo_1950.html
http://www.bolsasdevalor.net/tods-balmain-no-cidade-jardim-ch-e-burberry-no-higienpolis/
http://2ladies.com.br/tag/tods/
http://www.valor.com.br/empresas/1069038/louis-vuitton-investe-no-brasil
http://www.adorolingerie.com.br/2011/10/17/intimissimi-no-brasil-primeira-loja-aberta-no-shopping-morumbi-em-sao-paulo/
Middle East
http://www.textileglobal.com/2011/11/giordano-opens-200th-store-in-middle-east.html
http://www.abudhabiweek.ae/component/content/article/1-news/6883-reebok-opens-a-new-store-at-mushrif-mall
http://www.ameinfo.com/276748.html
http://www.altayer.com/BackEnd/.../Files/1262.doc
http://www.colliers-me.com/Files/services/10.pdf
Asia
http://www.chinaretailnews.com/2011/12/16/5299-ikea-will-locate-asian-fagship-store-in-beijing/
http://www.retailinasia.com/article/retail/store-development/2011/10/starbucks-opens-its-500th-store-china
http://www.todsgroup.com/system/document_ens/10/original/HOGAN_BEIJING_OPENING_-_NOVEMBER_2011_-_E.pdf
http://fashionablespace.com/jaquet-droz-plan-to-open-new-outlet-stores-in-beijing.html
http://www.highsnobiety.com/news/2011/08/30/a-p-c-opens-store-in-beijing/
http://maosuit.com/store-openings/versace-opens-new-beijing-fagship-store/
http://www.dsquared.com/html/news/latest/?id=20110420102358543
http://www.photoblog.com/doublezhu/2011/09/24/moncler-in-july-2011-in-beijing-sanlitun-north-to-open-new-stores-boutiques-temperament-to-create-a-rich-decorative-details.html
http://www.fastretailing.com/eng/group/news/1110121720.html
http://www.fashionillustrated.eu/en/topnews/ruco-line-opens-two-new-stores-in-tokyo
http://www.vogue.it/en/shopping/opening/2011/11/miu-miu-opening-in-ginza
http://www.sccij.jp/news/overview/detail/article/2011/09/01/swiss-retailers-open-three-fagship-stores-in-ginza/
http://www.wwd.com/fashion-news/fashion-scoops/bally-sees-growth-in-japan-opens-ginza-store-5093920
http://www.gapinc.com/content/gapinc/html/media/pressrelease/2011/med_pr_GapGinzaOpening.html
http://www.robertocavalliblog.com/roberto-cavalli-to-open-frst-japan-fagship-store/?lang=it
http://www.vogue.it/en/shopping/opening/2011/11/michael-kors-opens-in-roppongi
http://www.textilwirtschaft.de/news/schlagzeilen/pages/Escada-eroeffnet-in-Schanghai-und-Tokio_71849.html?a=3
http://www.surfine.com/surf-news/press-release/new-quiksilver-store-opens-in-grand-city-surabaya-mall-grand-opening-party-on-27-november_62365/
http://www.thejakartapost.com/news/2011/12/24/gunung-agung-open-smaller-shops.html
http://www.centralparkjakarta.com/v2/promo.php?st=4&id=106
M&A
http://www.welt.de/wirtschaft/article12726931/Louis-Vuitton-schmueckt-sich-mit-Bulgari.html
http://www.welt.de/print/wams/wirtschaft/article13714305/Brioni-wird-franzoesisch.html
http://www.rte.ie/news/2011/1220/nama.html
498
Like last year, 2012 will undoubtedly be chock-full of thrills and
spills. What everyone really wants to know, though, is how consu-
mer spending will evolve against the backdrop of the euro crisis.
Will demand for top-drawer locations, particularly on the part of
international retailers, remain high? Will the search for such lo-
cations on the part of Abercrombie & Fitch, Forever 21, H&M, and
Inditex continue apace? The determining factor for many trends is
likely to be whether or not the euro can be saved. Retailers, at least
in Germany, are fairly optimistic. The general view appears to be
that high employment will spur consumer spending, provided that
sovereign debt is kept within reasonable bounds.
The prospects of a recession in Europe, sluggish growth in the US,
and a steep downturn in China make the outlook for 2012 seem
anything but rosy. In 2012, Wall Street will be facing the same fa-
miliar challenges. The sovereign-debt crisis in Europe, political un-
rest in many countries, and the declining creditworthiness of large
industrial nations provoked considerable drama on the worlds
stock markets this year. This situation is very unlikely to change in
the coming year, as the realisation dawns that the world economy
is in danger.
The ever-present credit crunch, the sovereign-debt problem, lack
of competitiveness, and plummeting savings all point to a serious
downturn. The euro crisis could be a major threat to the US econo-
The outlook for 2012
.
my. For example, if in the coming year Italy and Spain continue pay-
ing extremely high interest rates to obtain fresh capital, the crisis
in Europe may very well deepen.
But despite all these dark clouds, expansion in the Asian and Latin
American luxury goods sectors is still going strong, and LVMH, the
worlds largest luxury goods conglomerate, is a prime example of
this. Last year, the group generated around 6.9 billion euros (USD
9.7 billion) in sales in Asia, where it operates more than 800 stores,
compared with sales of 4.6 billion euros and 570 stores in the US.
Many of the Western countries are struggling to revive weak eco-
nomies, Paris, Milan, London and New York are no longer the only
dominant centres of global luxury spending. Increasingly, the ac-
tivity is shifting eastward, to booming cities like Seoul, Shanghai,
Mumbai, and Hong Kong, whose glitzy malls rival Bond Street, the
Champs lyses, or Fifth Avenue in terms of high-end shopping
opportunities.
We here at Location Group hope that this year, as in the past, we
have provided you with valuable insight into the retail sector and
have perhaps planted the seed for an exciting new project or two.
Feel free to contact us if you require any further information.
Team Location Group
27
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3588_Luxury_Retail_Market_Ad_210x280_v2_Layout 1 16/01/2012 14:57 Page 1
28
locationgroup research | Retail-Marktstudie 2012
Retail-Marktstudie
2012
Chronik: 10 Jahre Bahnhofstrasse
Die Zrcher Bahnhofstrasse
im Rckblick der Neuzugnge und
Wechsel der vergangenen 10 Jahre
Key Moneys
14 Millionen Pfund in London,
24 Millionen Euro in Mailand und
50 Millionen Dollar in New York
Expansionsstrategien
Victoria's Secret kommt nach Europa,
Salvatore Ferragamo auf Expansionskurs,
Christian Louboutin mit globalem Roll-out
Investmentmarkt
Hchste Nachfrage der letzten
20 Jahre und bisher nicht bekannte
Mietsteigerungspotenziale
Internationale Premiere
Erstmals wurden 850 Einzelhndler,
600 Einkaufsstrassen und 450
Shopping Center weltweit untersucht
R
e
t
a
i
l
-
M
a
r
k
t
s
t
u
d
i
e

2
0
1
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LOCATION GROUP Lwenstrasse 43 CH-8001 Zrich T +41 (0)44 225 95 00 www.location.ch
elocations.com
www.location.ch
www.retail-study.com
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