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locationgroup research

Retail Market Study 2013

R P

V E

 145 GLOBAL CITIES COVERED

W E I

1‘000 RETAILERS

 500 SHOPPING CENTERS

 2‘000 STORE OPENINGS

 750 HIGH STREETS

 SPECIAL: SKI AND HOLIDAY RESORTS

 972 PAGES

 REACHED MORE THAN 20‘000 READERS IN 2012


The Luxury Location Specialists

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Table of Contents

Foreword

Page 9

I 01

OVERVIEW EUROPE

Page 10

02

SWITZERLAND

Page 14

03

Zurich

Page 16

04

Geneva

Page 28

05

Basel

Page 33

06

Bern

Page 36

07

Lausanne

Page 38

08

Winterthur

Page 40

09

St. Gallen

Page 43

10

Lucerne

Page 46

11

Lugano

Page 50

12

Swiss Department Stores

Page 52

13

Swiss Shopping Malls

Page 56

14

Swiss Retail Real Estate Investments

Page 62

15

Swiss M&A Deals

Page 67

16

GERMANY

Page 69

17

Berlin

Page 71

18

Munich

Page 84

19

Hamburg

Page 91

20

Cologne

21

Frankfurt

Page 101

22

Stuttgart

Page 108

23

D端sseldorf

Page 111

24

German Shopping Malls

Page 115

25

German Retail Real Estate Investments

Page 119

26

German M&A Deals

Page 124

27

Vienna & Austria

Page 127

28

Austrian Shopping Malls

Page 136

29

Paris

Page 138

30

London

Page 164

31

Dublin

Page 194

32

Edinburgh

Page 197

33

Brussels

Page 203

34

Antwerp

Page 208

35

Amsterdam

Page 213

36

Milan

Page 221

37

Rome

Page 240

38

OVERVIEW IBERIA

Page 246

39

Barcelona

Page 251

40

Madrid

Page 262

41

Lisbon

Page 270

42

NORTHERN EUROPE

Page 273

43

Copenhagen

Page 275

44

Oslo

Page 281

45

Stockholm

Page 284

46

Helsinki

Page 289

locationgroup research | Retail Market Study 2013

Page 96

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47

OVERVIEW RUSSIA

Page 292

48

Moscow

Page 297

49

St. Petersburg

Page 303

50

EASTERN EUROPE

Page 310

51

Kiev

Page 311

52

Tallinn, Riga, Vilnius

Page 314

53

Warsaw

Page 319

54

Prague

Page 324

55

Budapest

Page 329

56

Bucharest

Page 333

57

Almaty & Baku

Page 338

58

Athens, Belgrade, Skopje, Zagreb

Page 334

59

EUROPEAN SHOPPING MALLS

Page 350

60

EUROPEAN RETAIL REAL ESTATE INVESTMENTS

Page 358

II 61

OVERVIEW MIDDLE EAST

Page 366

62

Istanbul

Page 368

63

Tel Aviv

Page 376

64

Beirut

Page 380

65

Abu Dhabi

Page 384

66

Dubai

Page 394

67

Riyadh & Jeddah

Page 410

68

Kuwait

Page 417

69

Doha

Page 422

70

Amman

Page 425

71

Muscat

Page 429

III 72

OVERVIEW INDIA

Page 430

73

Mumbai

Page 437

74

New Delhi

Page 443

75

OVERVIEW ASIA AND PACIFIC

Page 447

76

SPECIAL: TOP SHOPPING MALLS IN SE ASIA

Page 452

77

Hanoi

Page 454

78

Ho Chi Minh City

Page 459

79

Bangkok

Page 466

80

Kuala Lumpur

Page 472

81

Singapore

Page 478

82

Jakarta

Page 490

83

Manila

Page 494

84

OVERVIEW CHINA

Page 500

85

Beijing

Page 512

86

Shanghai

Page 524

87

Hong Kong

Page 538

88

Macau

Page 542

89

Chongqing

Page 566

90

Wuhan

Page 570

91

Chengdu

Page 574

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locationgroup research | Retail Market Study 2013


92

Xi´an

Page 579

93

Shenyang

Page 583

94

Harbin

Page 586

95

Nanjing

Page 589

96

Guangzhou

Page 593

97

Seoul

Page 596

98

Taipei

Page 603

99

Tokyo

Page 611

100

Sydney

Page 624

IV 101

OVERVIEW NORTH AMERICA

Page 630

102

Vancouver

Page 634

103

Toronto

Page 639

104

New York

Page 645

105

Boston

Page 687

106

Chicago

Page 690

107

Washington

Page 670

108

Atlanta

Page 701

109

Miami

Page 704

110

Houston

Page 714

111

Dallas

Page 718

112

Denver

Page 727

113

Las Vegas

Page 728

114

San Francisco

Page 738

115

Los Angeles

Page 746

116

San Diego

Page 758

V 117

OVERVIEW LATIN AMERICA

Page 762

118

Mexico City

Page 768

119

Panama City

Page 773

120

Bogota

Page 776

121

Lima

Page 781

122

Santiago

Page 786

123

Sao Paulo

Page 790

124

Rio de Janeiro

Page 803

125

Buenos Aires

Page 809

VI 126

OVERVIEW AFRICA

Page 812

127

Casablanca

Page 816

128

Marrakesh

Page 820

129

Algiers

Page 823

130

Cairo

Page 825

131

Accra

Page 828

132

Lagos

Page 832

133

Johannesburg

Page 836

134

Cape Town

Page 839

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VII 135

SPECIAL: HOLIDAY RESORTS

Page 844

Monte Carlo

Page 844

Nice

Page 845

Cannes

Page 847

Saint-Tropez

Page 849

Chamonix

Page 853

Courchevel

Page 853

Cortina d窶連mpezzo

Page 855

Porto Cervo

Page 857

Forte dei Marmi

Page 857

Capri

Page 858

St. Moritz

Page 858

Gstaad

Page 860

Andermatt

Page 862

Zermatt

Page 863

Crans-Montana

Page 863

Kitzbテシhel

Page 863

Sylt

Page 865

Iberian Islands

Page 865

Aspen

Page 866

East Hamptons

Page 867

136

SPECIAL: EXPANSION PLANS

Page 867

137

M&A DEALS WORLDWIDE

Page 906

138

SHOPPING CENTERS WORLDWIDE

Page 930

139

INTERNATIONAL RETAIL ESTATE INVESTMENTS

Page 934

140

MOST EXPENSIVE RETAIL LOCATIONS WORLDWIDE

Page 938

141

PRICES AND WAGES

Page 940

142

RETAIL & LUXURY BRANDS

Page 943

143

SOURCES

Page 945

145

THE OUTLOOK 2013

Page 976

VIII

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locationgroup research | Retail Market Study 2013


Publisher: LOCATION GROUP AG, Rennweg 58, CH-8001 Zürich T +41 (0)44 225 95 00, F +41 (0)44 225 95 01 Email: info@location.ch, Internet: www.location.ch LOCATION RETAIL, www.locationretail.com LOCATION LUXURY, www.locationluxury.com LOCATION INVESTMENT, www.locationinvestment.com eLOCATIONS.COM, www.elocations.com Layout: Gravis, Konstanz, www.gravis-bodensee.de Photos: Location Group, Hanoi Front cover picture: Skyline, New York Back cover picture: World Trade, Center, New York Print & Editorial: raff media group, www.raffmediagroup.de Press date: 14th January 2013 Price: The purchase price is 750 CHF (incl. VAT) Orders: By fax +41 (0)44 225 95 01, by e-mail at research@location.ch or www.retail-study.com Disclaimer: This document was compiled by the LOCATION GROUP Research Team and is not the result of our location or financial 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 Re­search Team at the time of printing (and are subject to change without notice). This publi­cation may be quoted provided it is cited as a source. We ask for a sample copy. Copyright © 2013: LOCATION GROUP AG and/or its affiliates – all rights reserved. The information contained in this publication is based on accessible sources that we consider to be reliable. We give no guarantee for the correctness and completeness of this information. We accept no liability for the use of this report or its contents. Visit us on the Internet at: www.retail-study.com or www.location.ch

locationgroup research | Retail Market Study 2013

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Foreword In 2012, LOCATION GROUP produced the First Worldwide Retail Market Study with valuable information concerning the key trends and develop­ments in the worldwide retail sector.

LOCATION GROUP specialises in Retail Location Consulting and Development as well as Brokerage and as an expert partner of property owners and retailers and has been doing business successfully for seven years now.

Last years’ Retail Market Study had a size of 500 pages with news about the latest and up-coming shop-openings of approximately 80 cities worldwide. This year we doubled the number of pages as the Market Study 2013 has around 1,000 pages with 145 cities worldwide. The retail market is extremely large and we could have easily written at least 2,000 pages. However, we tried to focus to keep the balance between covering the most important changes and a size that is manageable for the reader. Therefore, please do not wonder if the one or other news is missing. There was simply not enough time and space to cover everything. For this second report of its kind, the Location Group Team again trained its sights on the choicest international locations, scouted the best frequented retail loca­tions and shopping malls worldwide. The enormous positive feedback and numerous requests we received on the 2012 report, prompted us to extend our study to 145 inter­national cities and holiday resorts that are in the forefront of fashion and design. The continuing turbulence in the world’s financial markets, as well as growing sovereign debt in a number of states, is 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, Istanbul, Milan, Amsterdam, Munich, Berlin and last but not least Zurich. For example in Zurich last year there were nine changes alone at Bahnhofstrasse, compared to five newcomers in the average for the last ten years before. 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 profit growth.

The Location Group Team hopes that you will find this year’s report informative and enjoyable again.

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.

Marc-Christian Riebe CEO, President and Founder

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locationgroup research | Retail Market Study 2013


03 Zurich . ZURICH is not only Switzerland’s largest city (380,000 inhabitants live in Zurich city and 1.2 million in greater Zurich) but also the country’s most important financial and business centre. A new high of 13,850 Swiss francs per square metre and a record of 9 tenancy changes have been reached The most recent rental for 13,850 Swiss francs per square metre emphasizes the fact that the sales potential of Bahnhofstrasse – which ranges upward from 100,000 Swiss francs to 225,000 Swiss francs per square metre – is attracting a growing number of multinational retail chains. A UBS market survey of prices and salaries, as well as similar surveys by Time Magazine, GfK, Bloomberg, Forbes and many others, show that Zurich offers the world’s top purchasing power and net income, and that Zurichers have the world’s highest disposable income. Jewellers and watch retailers in particular are well able to afford store rents on the city’s main shopping street Bahnhofstrasse since Zurich counts as one of the world’s top three retail locations. Zurich’s 1.4 kilometre long shopping street Bahnhofstrasse is home to 140 stores with an 89 % multibranch ratio, which means that only 11 % of the street’s retail stores are leased by indepen-

dent businesses. Each day, Bahnhofstrasse is frequented by more than 100,000 persons, and every day more than 400,000 travellers pass through Zurich’s main train station (Hauptbahnhof), which is one of the world’s 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 station ‘Löwenstrasse’ in operation, it is expected that Zurich’s main train station will be frequented by more than 500,000 people daily. The train station ‘Löwenstrasse’ will also be home to 37 new stores across 2,800 square metres of retail space. Swiss Life buys Café Balthasar’s lease Two traditional businesses across from Hotel St. Gotthard closed their doors in January 2011: the shoe store Pasito and the adjoining Café Balthazar. Pasito had been at its Bahnhofstrasse location for 28 years, originally under the name Pedrino, and since 1999 with Pasito. The cafe had likewise been in the same location for around three decades. Pasito was unable to afford the rent, which had been approximately tripled, despite the fact that the landlord, Swiss Life, was somewhat accommodating concerning the price. The Café Balthazar lease was not up for renewal for another two years, but Swiss Life paid the cafe owner Michel Péclard key ...

Bahnhofstrasse, Zurich locationgroup research | Retail Market Study 2013

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17 Berlin . BERLIN is the capital of Germany, and as a city-state is also a state that comprises the centre of Metropolitan region Berlin/Brandenburg (the Berlin-Brandenburg metropolitan area). With 3,45 million inhabitants, Berlin is Germany’s most populous city, and with surface area of 892 square kilometres the city is the largest in Germany and the second largest in the EU. Berlin as best performing retail city and fashion metropolis in Germany Over the past years Berlin has emerged as a fashion metropolis visited very frequently by local and European tourists. The capital city has most notably got into the focus of international retail chains seeking to locate themselves in AAA locations. Tauentzienstrasse for example is dominated to 100% of such retail chains. Almost 50% of the stores opening in Berlin belong to fashion industry. The retail real estate market in AAA locations is booming and such locations are getting more and more contested. Kurfürstendamm, one of Berlin’s best shopping streets, has registered the highest number of shop openings in 2012 countrywide. The prime rents of the most contested locations at Tauentzienstrasse turning into Kurfürstendamm amounts to 270 euro per

square metre. This peak rents are continuously inflated by new tenants, bidding higher rents in order to acquire retail spaces in these areas of the city. The highest rents at Friedrichstrasse adjust around 140 euro per square metre. The most established shopping streets in Berlin are Kurfürstendamm, Friedrichstrasse and Alexanderplatz. Finally, Hackescher Markt as trendy retail area for luxury and exclusive brands from all over the world will become very important within the next years. The project development of shopping centres are expected to become always more important in the coming years. Untill 2015, 11 new shopping centres are in the pipeline in Berlin. To the existing shopping centre retail space of 1,133,600 square metres, another 323,500 square metres will be added, which equals an amount of 28.5 %. Despite the rise in stock of retail space, AAA locations between Berlin west and Berlin east will be able to benefit of these developments, as customers from shopping centres will frequent these locations in order to reach the new shopping malls. Miu Miu, Zimmerli, Prada, openings in KaDeWe Department Store Prada Group is pursuing its expansion, with the opening of a new MiuMiu store in Berlin, the fourth in Germany (second in Berlin). The 120 square metre MiuMiu shop in shop at Berlin’s ...

Skyline, Berlin locationgroup research | Retail Market Study 2013

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27 Vienna, Salzburg, Graz & Co . VIENNA has a population of 1.7 million and is Austria’s most populous city. The Vienna metropolitan area has around 2.4 million inhabitants, which is more than 25 % of the country’s total population. Vienna is the ninth most populous city in the EU. Location

Rents EUR / sqm / month

Kohlmarkt

180-390

Graben

180-290

Kärntner Strasse

140-210

Innere Mariahilfer Strasse

60-150

Rotenturmstrasse

30-120

Favoritenstrasse

25-60

Neubaugasse

20-60

Landstrasser Hauptstrasse

15-40

Meidlinger Hauptstrasse

10-30

Thaliastrasse

10-30 Rents Top 10 Shopping Streets, January 2013

Vienna to become the capital of luxury retail In 2014, upon completion of construction, the historic center of the city will become a pedestrian area dominated by the major stores of luxury fashion brands worldwide. René Benko creates “Golden Quarter” With his project „Golden Quarter“, Benko creates a new architectural landmark in the center of Vienna. The 11,500 square meters of

luxury retail space is close to the Kohlmarkt, situated in two former bank buildings. Emporio Armani opened its store in the Tuchlauben building on 500 square metres. At the end of November 2012, Louis Vuitton followed with a 1,400 square meter flagship store. Bambini, a multi-label premium children’s fashion store,also opened at the end of the year. According to a spokesperson at Benko’s Signa Holding Brioni, Miu Miu and Etro will move in at the beginning of 2013. Park Hyatt, a luxury hotel chain, will move to Austria’s famous „Am Hof“by the autumn of 2013. Along with a 1,500 square metre Prada flagship store, the retailers Church’s, Saint Laurent, Brunello Cuccinelli, Roberto Cavalli, and 7 for all mankind also opened. The luxury area „Golden Quarter“ includes a total of 18 shops, and, with the exception of Prada und Louis Vuitton, all brands of these brands opened their first store in Vienna. The total amount invested was not released by Signa. Amicis’ elegant location in Tuchlauben, Vienna Amicis found an elegant location for its new flagship store on the Tuchlauben. Located at the number 14 house on Tuchlauben, the store offers famous labels such as Alexander Wang, Giambattista Valli, Chloé and Balmain. Vivienne Westwood gets first Viennese boutique Iconic punk designer, Vivienne Westwood, opened her first Austrian shop at Tuchlauben12 in Vienna’s first district. Fans of the British punk fashion designer are now able to buy Westwood‘s clothes ...

1. District, Vienna locationgroup research | Retail Market Study 2013

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Bernard Arnault

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locationgroup research | Retail Market Study 2013


29 Paris . PARIS is the capital of France and of the Île-de-France region. The Seine divides the city into a northern section (the right bank) and a southern section (the left bank). Paris has 2,2 million inhabitants, 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 world’s most important cities and is one of the world´s most beautiful metropolises. Paris’s Avenue Champs-Elysées, which is one of the world’s most magnificent boulevards, is located in northwest Paris in the city’s 8th arrondissement. Both the Champs-Elysées and 8th arrondissement start at Guillaume Coustou’s, group of horse sculptures known as “chevaux de Marly”, just west of Place de la Concorde. 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-Elysées 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. The fashion metropolis’ top spots Paris has a lot of well-known boulevards and retail hot spots. The mostprominentonesinclude Champs-Elysées, Avenue Montaigne, Place Vendôme &Rue de la Paix, Rue du Fabourg, Boulevard Huassmann, Forum des Halle, Places des Victoires, the PrintepmsDepartment Store and Galerie Lafayette.

Skyline Paris locationgroup research | Retail Market Study 2013

Avenue Montaigne is the most prestigious fashion boulevard in Paris. The shopping mile is located in the 8th District of Paris near the Seine, between Avenue George V and Champs-Elysées. On Paris’ finest shopping street one you can find many of the large and wellknown fashion brands like Gucci, Prada, Chanel, Louis Vuittion, Valentino etc. Besides international retail brands it offers numerous luxury fashion stores, boutiques, restaurants and hotels. Avenue Montaigne is also famous for its high-end jewellers and its stores specializinging in high fashion . .. Location

Prime Rents / sqm / year in Euro

Champs-Elysées

10,799

Avenue George V

9,500

Place Vendôme/ Rue de la Paix

9,500

Avenue Montaigne

7,500

Boulevard Haussmann

6,000

Boulevard St Germain

5,250

Rue de Rennes

4,433

Rue des Francs Bourgeois /Rue des Rosiers

4,000

Rue de Rivoli

3,677

Boulevard de la Madeleine /Boulevard des Capucines

3,400

Rue de Passy

3,250

Avenue de l’Opéra

3,150

Rue du Commerce

3,000

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30 London . GREATER LONDON has 7.8 million inhabitants, 2.9 million of whom live in the 13 districts of Inner London. Thus London is the EU’s most popular city. The population of the Greater London Urban Area is around 14 million. London – a shopping destination par excellence London’s exclusive Mayfair district is vying to overtake Paris, Milan, 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 Bond Street, Jermyn Street, Oxford Street, and Regent Street, 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 London’s Mayfair district, is one of the city’s 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 officially 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. The section of New Bond Street adjoining Old Bond Street at the cross street Burlington Gardens is an around 656foot-long pedestrian zone.

Change of retail real estate demands in London London’s Bond Street and Sloane Street have seen record levels of space change hands in 2012, as top global luxury brands continue to secure new stores or to increase the size of their existing stores. At present, demand on both streets outstrips supply by about 10 to one. As a result, many luxury brands now have to locate just off Bond Street and Sloane Street out of necessity. Due to the level and quality of uptake, rental levels are now just less than 1,000 pounds on Bond Street with strong growth also reported on Sloane Street over the last 12 months. Over one-third of the space transacted on the two streets this year was taken by Italian designers. Several of these brands increased the size of their stores. British high street stalwarts face competition from US newcomers High street stalwarts Next, Marks & Spencer and Debenhams may have to face off serious competition from US apparel retailers looking to the UK to reel in extra profits. Analysts at Morgan Stanley said: “We have identified at least ten big US clothing retailers looking to use the UK as a bridgehead into Europe. We think this could profoundly change the competitive landscape“...

London at night

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locationgroup research | Retail Market Study 2013


36 Milan . Italy’s second largest city, MILAN, has around 1.3 million inhabitants, around 4.8 million including the outlying 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, fashion, design, and media, and is thus regarded as Italy’s “gateway to the world.” Milan is known for a number of things including its Gothic cathedral, its world famous La Scala Milan opera house, various art treasures including Leonardo da Vinci’s 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 Italy’s most renowned convention centre, Fiera Milano. A new fashion district planned for Milan A new fashion district in Milan’s Corso Como will host more than 50 shops, showrooms, restaurants, art galleries, cultural workshops, and it will feature more than 160,000 square metres of pedestrian areas. The new development takes shape in the Garibaldi area of Milan and the first phase, the extension of existing Corso Como, has already been completed and was presented to the media on September 17, 2012.

Renzo Rosso’s Diesel and its other brands, along with Costume National, confirmed store openings in the new complex, where stores will be open in time for the 2013 edition Salonedel Mobile. Covering a surface of 360,000 square metres, the new district of Corso Como, already named by many as ”the new Montenapoleone” of Milan, is the largest development in the history of the Italian metropolis. New luxury openings Major international luxury brands have spent over 30 million Euros this year alone on new openings, enlargement, or refurbishment of their stores in Milan’s Via Montenapoleone. During the Milan Fashion Week (September 19 – 25), Cartier, Christian Dior (women’s store), Breguet, Bruno Magli (corner with Via Manzoni) and Burberry (taking over the space formerly occupied by Corneliani) inaugurated their flagship stores ...

Galleria Vittorio Emanuele II on Piazza Duomo, Milan locationgroup research | Retail Market Study 2013

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Marise Ă˜stergaard & Christian Louboutin

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locationgroup research | Retail Market Study 2013


48 Moscow .

Moscow by night

MOSCOW is the capital of the Russian Federation and with 11.5 million inhabitants, it is the country’s most populous city, and with 14.6 million inhabitants in the Moscow conurbation, it is Europe’s most populous city. International retailers coming to Moscow Most stores in Moscow keep up with flagships in Paris, London, Milan, or New York. Major international brands like Louis Vuitton, Chanel, Prada, Ermenegildo Zegna, Tom Ford and Max Mara boast their latest international store concepts in Moscow, with some even ahead of other Western European locations. Retail Real Estate Rents in Moscow range from 200 to 700 Euro per square metre on average. As a result, Moscow’s retail dynamics are changing very quickly and major luxury brands must deal with a major dilemma in terms of demand. Take the Crocus Mall for example, a shopping centre on the outskirts of Moscow, versus new developments downtown Moscow or the new Moscow Gallery at the Moscow Hotel. While Crocus Mall attracts a growing number of wealthy living outside of Moscow, especially families, due to the complex offering of retail, food and entertainment, the Moscow Hotel, the brand new hotel in the heart of Moscow, facing the Kremlin and Bolshoy Theatre seems to be equally strategic for high-end brands, considering the hotel is dubbed to be opened as a Four Season Hotel. Although the hotel has an uncertain opening date, because already delayed more than 2 years from the initial announcements, the Moscow Hotel has already been leasing its retail space and several international luxury brands have already leased spaces in the

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shopping gallery (Zilli, Cornelianietc). Brands such as Chanel have also confirmed future openings. Moscow’s luxury retail real estate ”puzzle” is completed by the two historical shopping centres, the iconic GUM facing the Kremlin and the TSUM Department Store. The latter is controlled by Mercury Group, who works as a retailer and a real estate developer. GUM is Moscow’s largest and most renowned department store and one of the largest in the world. It is located in the heart of Moscow on the Red Square and stands across from the Lenin Mausoleum and the Kremlin. The flurry of new openings in GUM this spring is a testimony to the development of luxury retail in Russia, where retail decisions are based on a realistic long term business perspective. The maturity of the Russian retail market can also be seen in GUM, as Louis Vuitton’s recently expanded it store and Christian Dior relocated to a much larger space. Nowy Arbat is one of Moscow’s most popular shopping streets It is a main thoroughfare west of the Kremlin, and Arbat Street, which runs parallel to Nowy Arbat and is Moscow’s oldest pedestrian zone. The city’s most prominent shopping street is Twerskaja Street. Many ritzy boutiques reside there. The street runs north from Red Square. Prada opened its first flagship store in Moscow on the corner of Bolshaya Dmitrovka and Stoleshnikov Pereylok. It covers 1,700 square metres and has three floors. Ralph Lauren, Chanel, and Cartier also opened additional mono-brand stores in Moscow by the end of the year ...

locationgroup research | Retail Market Study 2013


60 EUROPEAN RETAIL REAL ESTATE INVESTMENTS

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PARIS Qataris snap up Champs Elysées asset Qatar Investment Authority is understood to be the buyer of the historic Lido asset at 116 Champs Elysées in Paris. Qatar‘s sovereign wealth fund bought the property from French private equity group LBO France for over 100 million Euro in cash, well-informed market sources told PropertyEU. Developed in 1931, the art déco scheme comprises the Lido site, the famous French cabaret, an UGC cinema over 10,000 square metres as well as 5,000 square metres of offices. Russian developer pursues 2.2 billion Euro luxury complex in Paris’ La Défense Designed by British architect Norman Foster, the Hermitage Plaza Towers is a multi-use luxury complex developed by Russian born Emin Iskenderov in Paris’ La Défense area. ”The idea is to create a Manhattan in the French style in La Défense,” said Emin Iskenderov, head of the Hermitage Group, which is developing the towers. La Défense, Paris

The project received planning permission in March and has since beaten back several legal challenges from local groups. Opponents criticise the project for its treatment of local residents. They say Iskenderov’s plan to replace the area’s moderately priced apartments with luxury ones is wrongheaded in a country that suffers from a housing shortage.

The Russian-born developer told Reuters he is on track to get bank financing by January 2013 at the latest, even though the amount needed has jumped to 1.2 billion Euro from a previously targeted 700 million Euro. Getting more from the banks now would allow Iskenderov, who has raised eyebrows with his sudden emergence ...

Champs Elysées, Paris locationgroup research | Retail Market Study 2013

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64 Beirut . BEIRUT, the capital of Lebanon, is located on the Levant coast in the Eastern Mediterranean, in the centre of Lebanon from a northsouth standpoint. Beirut is Lebanon’s economic and cultural centre, and prior to the 1975–1991 Lebanese civil war was referred to as the “Paris of the Middle East”. The estimated population for Beirut is nearly 2 million.

Emporio Armani inaugurated a new store in Beirut The Armani Group was pleased to unveil its new Emporio Armani store in the heart of Beirut and one of the trendiest shopping areas of the city. The two-storey boutique, located on Allenby Street, brought the style of Armani to the vibrant city of Beirut as it continued to blaze a trail as the fashion capital of the region.

Location

Covering a total of 486 square metres, the interior of the store was carefully designed and created by Giorgio Armani and his team of architects in Milan. The store has a modern yet casual look, which mirrors the spirit of the Emporio Armani store in Paris Saint Honore.

Rents per sqm per year in Euro

Rue Verdun

1,103

Kaslik

1,182

ABC Centre Achrafieh

1,576

Rue Hamra

670

Beirut Central District

946

Roberto Cavalli unclosed his first restaurant in Beirut Cavalli Caffè, a rejuvenated concept of the historic café Giacosa...

City Skyline, Beirut

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65 Abu Dhabi . ABU DHABI is the capital city of the eponymous emirate in the UAE. The centre of Abu Dhabi, which has around 860,000 inhabitants, 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 Dhabi’s Urban Planning Council issued the urban development plan for the run-up to 2030, after which time an increase 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 shopper’s heart could desire. Malls here spring up like mushrooms, and each 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 spectacular view of the Corniche. Abu Dhabi provides a significant platform for growth, with incre-

asing demand from locals, ex-pats, and visitors who are shopping for stylish, good quality, value clothing. The Middle Eastern clothing market is already worth 90 billion pounds. Yas Mall to be completed by 2013 Abu Dhabi’s retail mix is seeing major improvement, as new retail suppliers pour into the market. The ratio of luxury retail has increased with the opening of new stores in the Etihad retail podium, the Galleria in Sowwah Square, and the retail centre in the Nation Towers. The new Yas Mall is under-construction on Yas Island, and it is expected to be completed by late 2013. More than 50% of its 235,000 available square metre retail space has already been leased. ‚Avenue at Etihad Towers‘ offers a luxurious shopping experience In the Etihad Towers in Abu Dhabi, a luxurious real-estate property developed by Sheikh Suroor Projects Department (SSPD), ‚Avenue at Etihad Towers‘ has opened. Located in the center of the UAE’s capital city, it is Abu Dhabi‘s first standalone high-end luxury shopping destination ...

Ferrari World, Abu Dhabi locationgroup research | Retail Market Study 2013

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Dolce & Gabbana Fashion Show

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locationgroup research | Retail Market Study 2013


78 Ho Chi Minh City . HO CHI MINH CITY (HCMC, formerly named Saigon), is the largest city in Vietnam. The metropolitan area 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 populous metropolitan area in Vietnam and the coutnires of the former French Indochina. The Greater Ho Chi Minh City Metropolitan Area spreads over an area of 30,000 square kilometres with an expected population of 20 million inhabitants by 2020. Vietnam among the fastest growing and most potential luxury markets Among the most dynamic luxury sectors in Vietnam in the past three years, fashion definitively has seen the fastest growth. There are just 6 major distributors in this segment, but almost all of them have added at least one or two international fashion brands to their portfolio in the last 2 years. Among those brands are: Etro, Canali, Christian Louboutin, Valentino, Chanel, Hugo Boss, Coach, Loewe,

Givenchy. Other brands have announced their entry in 2012, among them Ralph Lauren, Dior, ErmenegildoZegna and Bottega Veneta. On the other side, jewellery is one of the sector which is least developed and presents opportunities for retailer. Except Bulgari, Cartier, Chopard, IWC, Omega, Piaget and Rolex there is no international jewellery brand on the market. The brands most active with regards to advertising activities is DAFC, distributor of Salvatore Ferragamo, Burberry, Polo Ralph Lauren, Cartier, Chanel, Tumi, Bally, etc. Retail business in Hoh Chi Minh City One of Vietnam’s wealthiest local community lives in Ho Chi Minh City (Saigon). Ho Chi Minh City concentrates the majority of the major international luxury brand retail locations in Vietnam. Dong Khoi is the leading luxury high street, with the Gucci, Dior, Yves Saint Laurent, Prada and Louis Vuitton mono-brand stores. Gucci is operating two stores in Vietnam, one in Ho Chi Minh ...

Skyline Ho Chi Minh City locationgroup research | Retail Market Study 2013

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85 Beijing . BEIJING, the capital city of China, was founded more than 3,000 years ago. Its name means “northern capital”, and it is governed by the central government. As a result, it is on a par with the country’s other administrative entities in this regard. Beijing has 17.6 million inhabitants, comprises a single conurbation, but with its predominantly rural settlement structure, it is more province-like. Sanlitun Sanlitun is now popular among retailers largely due to the success of Sanlitun Village whose low-rise architecture provides flagships for Adidas, Uniqlo, Apple, as well as upmarket brands Balenciaga, Moncler and Montblanc. Wangfujing Wangfujing is Beijing’s unique pedestrian high street that attracts tourists from China and overseas as well as locals. Here established malls and street shops offer a range of brands from Burberry and Zegna to Apple and Gap. A range of major new brands are looking to enter the Wangfujing market which has very strong pedestrian flow, however there is very limited available space Xidan Xidan is a well known traditional city-level retail submarket which is particularly popular amongst the youth. Xidan currently has a

mix of shopping centres and department stores totalling around 400,000 square metres, but is best known for Joy City which houses an exciting range of brands including Apple, Gap and Zara. The retail landscape in Xidan area is poised to move up-scale with the completion in 2013 of Galeries Lafayette which is expected to bring some luxury elements to Xidan. CBD Beijing’s CBD area is the first landing place for many high end brands. The area has a full range of luxury brands including in high end developments such as Shin Kong Place, China World Trade Centre and Yintai Centre. Yansha Nearby Yansha area is surrounded by diplomatic compounds and high end residential developments. The area has both mid market brands as well as high end brands in City Mall. Zhongguancun Zhongguancun is focused on high tech business and is the location of several of Beijing’s major universities and research institutes. Currently there are a number of good mid-market shopping centres including EC Mall and The Gate ...

Central Business District, Beijing locationgroup research | Retail Market Study 2013

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87 Hong Kong . HONG KONG’s most densely populated district and the city’s cultural centre is Kowloon peninsula to the south of the New Territories region. Hong Kong, which is spread across a peninsula and 262 islands at the mouth of the Pearl River, was a British crown colony and by treaty returned to China in 1997. Hong Kong is China’s third most populous metropolitan region, and greater Hong Kong, with 16,000 inhabitants per square kilometre; it is the world’s most densely populated area after Monaco. Hong Kong’s population has increased by a factor of 12 over the past six decades, to 7 million in 2005. Hong Kong’s thriving retail market Not only is Hong Kong is one of Asia’s most mature retail markets, but is also one of its most thriving. Thanks to stable tourism spending, driven by low unemployment and strong wage growth, retail sales have continued to increase steadily. Heavily frequented by Mainland tourists, Hong Kong is attracting a big diversity of international brands that see the market as a gateway to China and a platform for establishing their brand identity. Hong Kong high street retail space has among the highest rents in the world due to sustained high demand and limited new supply. Much of the high street locations are occupied by luxury brands including watch and jewellery stores. Despite record high rents,

retailers are continuing to target core shopping centres and high street shops as their new locations and flagship stores. Foreign companies face no restrictions when renting or purchasing property in Hong Kong, so both new retailers and investors must levy the advantages and costs of both options. One of the biggest obstacles facing tenants in Hong Kong are occupancy costs and supply constraints. While retailers are often willing to pay high rents, they have a difficult time finding suitable locations. It often takes retailers up to two years to locate, negotiate leasing terms and fit-out new premises. Brand-crazy Chinese drive up retail rents in Hong Kong Soundwill Holdings was forced to sell many of its properties as it battled to survive Hong Kong‘s real estate crash in the late 1990s. Even after its stock plunged 99% and debt obligations loomed, it held on to a 40-storey tower on a tucked-away street that today is the second-most expensive retail strip in the world. Russell Street in the Causeway Bay district trails only New York‘s Fifth Avenue in terms of average retail rents, fuelled by mainland Chinese shoppers seeking tax-free Gucci handbags and Rolex watches. Shares of Soundwill are up more than six fold ...

Skyline, Hong Kong

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89 Chongqing . Chongqing is a major city in Southwest China and one of the five national central cities in the People‘s Republic of China (PRC) The municipality has a population of 29 million people, although the urbanized area is estimated to have a population of 7 million. Raffles City Chongqing breaks ground CapitaLand, CapitaMalls Asia, and Singbridge Holdings started construction works on Raffles City in Chongqing. Among all of its investments in China, Raffles City Chongqing is CapitaLand‘s biggest single investment and the largest single investment by any Singaporean firm in China. Including land cost, the total development value of the project is expected to be about 3.34 billion US Dollars. Designed by architect Moshe Safdie, Raffles City Chongqing measures more than 1.03 million square metres. It includes a shopping mall, high-end residences, office buildings, serviced residences, and a hotel. Other than Raffles City in Chongqing, Chengdu, Shanghai and Beijing, CapitaLand has other Raffles City developments in Hangzhou, Shenzhen, and Shanghai; they are currently under development and the one in Ningbo opened on September 29th, 2012. Gucci opened Southwest China flagship in Chongqing The mega-metropolis may have been in the news for political con-

troversy and intrigue more often thanit has for business reasons over the past several months, but on June 18th, 2012, the massive Chinese municipality of Chongqing — larger than Taiwan and nearly as populous as Canada — saw the opening of Gucci’s southwest China flagship. Covering 800 square metres and two floors, the new location at Golden Eagle Shopping Center stocks the full Gucci collection of leathergoods, footwear, apparel, accessories, and children’s clothing for the “Little Emperor.” Three years in the making, according to Chongqing media, the new location is the centrepiece of the mall’s new section. With 15,000 square metres of interior space, the new seven-floor section at Golden Eagle includes a new MUJI location in the basement, a new Omega store, and the two-story Gucci flagship that sits on the ground floor. A number of restaurants, bars, and wine stores fill the upper floors. Located near Chongqing’s Maison Mode shopping center, where Louis Vuitton opened a sprawling flagship last summer, Golden Eagle is also situated near the famous Jiefang Bei Pedestrian Street, likely a motivation for Gucci to build its second Chongqing location (after Starlight Place) there. IKEA to build largest western China flagship store in Chongqing IKEA will reportedly invest about 159 million US Dollars in a new project in Chongqing to build the company‘s largest flagship store in western China. The new IKEA store in Chongqing will have a total construction area of over 100,000 square metres and four floors ...

Skyline, Chongqing locationgroup research | Retail Market Study 2013

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Jessica Minh Anh and Yu Wenxi

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locationgroup research | Retail Market Study 2013


92 Xi’an . XI’AN is the capital of the Shaanxi province, and a sub-provincial city in China. One of the oldest cities in China, with more than 3,100 years of history, the city was known as Chang’an before the Ming Dynasty. The area of Xi’an is 9,983 square kilometres and the population is 8.46 million.

Xi‘an, one at Kaiyuan Mall and one at the HNA Minsheng Department Store on Wulukou. The stores occupy 1,800 and 1,400 square metres of floor space respectively, and sell all the usual Uniqlo products.

Xi’an develops very quickly these years. The main industrial zones in Xi’an include Xi’an Economic and Technological Development Zone and Xi’an Hi-Tech Industries Development Zone. The city’s Muslim quarter, which is home to the Great Mosque of Xi’an is very well known in the foreign committees. Apart from the ancient buildings and places of interests there are also some modern shopping malls in Xi’an. Many world famous brands can also be found in Xi’an, such as Tiffany & Co, Louis Vuitton, Hermes, Guess, Chole, Timberlake and so on. The huge market of Xi’an gives people more opportunities to do business here.

Xi’an Saigao City Plaza to open in 2015 in Xi’an Taubman TCBL and Beijing Wangfujing Department Store Co., Ltd are teaming up for a joint venture that will own a majority stake and manage an upcoming retail development in Xi’an, China. The complex will be located in the Xi’an Saigao City Plaza, a mixeduse project that is currently being developed by Shaanxi Fuli Real Estate Development Co. Ltd.

Top Italian jewellery brand Bulgari opened its first boutique On November 23rd, 2012, the top Italian jewellery brand Bulgari opened its first boutique in Xi‘an Business landmarks and also the largest store in International.

Developer Shaanxi Fuli Real Estate will own the remaining shares of the shopping centre that has an opening date set for late 2015. The seven-level facility is the retail component of the Xi’an Saigao City Plaza, a sprawling mixed-use development which will additionally include a five-star hotel, a Holiday Inn Express, a SOHO residential tower, two towers of serviced apartments and an office structure. The gross building area of the Saigao City Plaza, including parking, is a whopping 550,000 square metres.

Uniqlo opened two stores in Xi’an The Japanese clothing brand Uniqlo opened two new locations in

The shopping mall will occupy 140,000 square metres at the mixeduse project, offering up a gross leasable area of ...

Skyline, Xi’an locationgroup research | Retail Market Study 2013

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96 Guangzhou . Foreigners banned from owning Guangzhou shops in China Foreigners - including residents of Hong Kong and Macao - have been banned from investing in retail properties in Guangzhou. A ban on foreign investment was implemented on March 1 st 2012 against a background of a thriving local economy and rising retail sales. While municipal governments in China welcome investments as a revenue source, the central government sees a need to put brakes on the upsurge in property investment. However, many doubted that the new regulations would have any substantial effect on the local property market as all the foreigners would be kept away from the retail market as well.

Apple comes to Guangzhou Not to be left out we move yet again back to Guangdong. It was mentioned previous that Guangzhou would be blessed with a midsize store in the new Grand City Plaza area, located in Tianhe district. This is an area rich with technical companies, gadget shops of all stripes and a really great night scene, with many night clubs. Although renovations have not been completed our contacts have told us that an Apple store will be moving into the Grand City Plaza area as an anchor store after renovations have completed. Rent has not been negotiated ...

Foreign retail brands eye on China‘s Guangzhou The city of Guangzhou in China’s southern Guangdong Province came under the limelight again due to its great consumer potential and strong growth drivers in its retail market, which impelled foreign retail brands to change their strategies and seek better development in the region. Maxvalu, a high-end supermarket brand under Aeon, opened its first store in late 2012. Galeries Lafayette, which unsuccessfully attempted to the market entry in Beijing 15 years ago, planes to come to Guangzhou for its second location in China. Industry analysts believe that time is mature for foreign brands to enter Guangzhou after two years since it hosted the 16th Asian Games. Meanwhile, local stores have begun to adapt themselves into the new business environment by starting to open low-end store formats and offer traditional clothing products.

La Perle, Guangzhou

Guangzhou Skyline

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Janet Lee

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locationgroup research | Retail Market Study 2013


100 Sydney . SYDNEY, the capital city of New South Wales is Australia’s largest city with 3.6 million inhabitants. 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. Sydney’s main shopping district, which is bounded by Elizabeth, King, George and Park Streets, comprises the Pitt Street Mall pedestrian zone, as well as restored buildings such as Queen Victoria Building, a magnificently renovated former market hall that reopened 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. Another important shopping venue on George Street is the magnificent 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 is Sydney’s classic department store and has branch on Elizabeth Street and Market Street (corner of Castlereagh Street). It has a large selection of apparel, as well as a floor devoted to Australian and international designer fashions. Luxury retail booming in Sydney CBD The opening of Breitling Replica Watches, luxury brand Burberry‘s flagship store in Sydney‘s CBD has marked a trend – call it a fashion – for bigger, more lavish and, of course, more expensive boutiques in the booming top end of the retail market. Burberry’s new 820 square metres flagship store quietly opened for business on a weekend of August and already trade has been brisk. The new store at 343 George Street is three times the size

of the brand’s previous store and stocks the complete Burberry range. The Burberry boutique is part of a boom in luxury store openings in Sydney in year 2012 that has included the first Bottega Veneta store in Australia in the Westfield Sydney development, which also houses new stores by Diane von Furstenberg, Hugo Boss, TAG Heuer and Salvatore Ferragamo. In July 2012, Prada opened a flagship store at the entrance to the Westfield complex, which will be flanked by Prada’s sister brand Miu Miu. The luxury store openings are a sign of growing confidence in the top end of the retail market. The luxury store openings are further evidence of significant market Replica Ulysse Nardin Watches segmentation in the retail sector. While the middle and lower ends of the market have been hit by rising fuel prices and interest rates and a mood of uncertainty, high-end is booming. In contrast to retailers such as the Colorado Group in Australia, which was placed in voluntary administration, American Apparel in the US, which is on the brink of bankruptcy, and Swedish retailer H&M, which reported a 30 % drop in profits for the first quarter, luxury is booming. Outlook on retail property in Australia Institutional investors have reentered the market with freestanding assets and shopping centres high on their investment lists. Furthermore, local conditions have caught the attention of international investors, as good quality; tightly held assets have been available ...

Skyline, Sydney locationgroup research | Retail Market Study 2013

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104 New York . NEW YORK has a population of 8.1 million inhabitants distributed over a land area of just 305 square miles (790 square kilometres). The New York City Metropolitan Area‘s 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 populous combined statistical area in the United States, containing 22.2 million people. Rents growing on Madison and Fifth Avenue The market for Manhattan retail space had tightened in the most prominent shopping corridors with asking rents on Madison Avenue and Fifth Avenue seeing significant increases, according to The Real Estate Board of New York‘s (REBNY‘s) Spring 2012 Retail Report. The top five increasing prime shopping corridors this report period were:

1) Fifth Avenue between 42nd and 49th streets with asking rents surging 75% compared to spring of last year. 2) Madison Avenue between 57th and 72nd streets with asking rents up 31% to 1,203 Dollars since spring of last year. 3) A tie between East 86th Street between Lexington and Second avenues where, with few listings, asking rents were driven up 23% to 410 Dollars per square foot since last year, and Herald Square on West 34th Street between Fifth and Seventh avenues, with asking rents also increasing 23% to 558 Dollars per square foot. 4) Upper Fifth Avenue between 49th and 59th streets saw asking rents up 22% to 2,750 US Dollars, again attributed to the lack of prime available space in that corridor. 5) In SoHo on Broadway between Houston and Broome streets where only a few prime spaces are still available - asking rents were up 11% to 551 Dollars per square foot ...

Manhatten, New York locationgroup research | Retail Market Study 2013

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112 Denver . DENVER, the capital of Colorado, is a consolidated city and county. The estimated population of Denver is 620,000 which ranks it as the 23rd most populous U.S. city. It serves as the financial, transportation, and distribution center of the Rocky Mountain region. Top 5 shopping malls in Denver Cherry Creek Mall Cherry Creek boasts the crème de la crème of brand-name stores in Denver. Whether you‘re a Burberry babe or a Lacoste lad, Cherry Creek offers the widest selection of premium labels. Department store anchors include Macy‘s, Neiman Marcus, and Saks Fifth Avenue. The mall‘s movie theatre was recently renovated, and a Nordstrom store recently opened. Park Meadows Mall Park Meadows Mall was built to resemble a mountain lodge, with plenty of wood beams and open space. The mall includes specialty stores such as The Buckle, which hems jeans purchased at the store free of charge. Department store anchors include Dillard‘s, JC Penney, Macy‘s, and Nordstrom. The food court offers a wide selection of venders, and plenty of seating around a cozy fireplace.

Cherry Creek Mall, Denver

Flatiron Crossing Located halfway between Denver and Boulder, Flatiron Crossing makes a convenient meeting point between the two cities. Department store anchors include Dillard‘s, Macy‘s, and Nordstrom. Other specialty stores include Coldwater Creek and Crate & Barrel ...

Denver Skyline locationgroup research | Retail Market Study 2013

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115 Los Angeles . LOS ANGELES (Spanish for “city of the angels”) or L.A. for short, is the largest city in California, located between the Pacific 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 conurbation is 11.8 million, the L.A. metropolitan just fewer than 13 million inhabitants and the greater Los Angeles area has a population of 17.8 million; these numbers make it the world’s 17th largest metropolitan area. Beverly Hills, a city embedded in west L.A., has 35,000 inhabitants and a surface area of 14.7 square kilometres. The city is known for the numerous American actors, directors, and affluent residents who call L.A. home. Rodeo Drive is a Beverly Hills street comprised of North and South Rodeo Drive with Wiltshire Boulevard dividing 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 high-priced goods.

Rodeo Drive is also home to the world’s most expensive shopping malls, including The Rodeo Collection (421 North Rodeo Drive), whose stores, on five above and below ground levels, include Eres, Hervé Leger, La Perla, Stuart Weitzman, and various cosmetic-surgery clinics. There is also Two Rodeo, which was built in the early 1990s. Boutiques from Versace, Porsche Design, Breguet, Georg Jensen, Lalique, Jimmy Choo, and Tiffany & Co. can be found there. With its fountains, Italian piazza, and Spanish staircase and balconies, Two Rodeo Drive (also known as Via Rodeo), is reminiscent of a cobblestone pedestrian shopping zone in Europe. Next door to Two Rodeo on Wilshire Boulevard is the renowned Hotel Beverly Wilshire. Prada unveils a Miu Miu store in Saks Italian fashion label, Prada, which specializes in luxury goods for men and women, unveiled its Miu Miu boutique at the Saks Fifth Avenue store at 9600 Wilshire Boulevard. The Beverly Hills store features exclusive bags and a small leather goods collections designed by Architect Roberto Baciocchi. The fashion label operates in 70 countries through 388 directly ...

Los Angeles

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locationgroup research | Retail Market Study 2013


123 São Paulo . SÃO PAOLO is Brazil’s largest city and Latin America’s largest industrial conurbation. Sao Paolo proper has a population of 10.7 million, and the greater Sao Paolo area has a population of 19.8 million inhabitants. This makes it one of the world’s largest cities and the most densely populated urban area in the Southern Hemisphere. Depending on which statistics are applied, Sao Paolo is also the world’s fifth or sixth largest metropolitan area. São Paolo - a shopping paradise and the best city to conduct business in Latin America São Paulo is the most ethnically diverse city in the country and has Brazil’s highest GDP. It is considered to be the best Latin American city to do business in, the biggest financial centre in the country, and the business centre of the Mercosur Economy. Moreover, São Paulo is expected to become the 6th richest city in the world in 2025. São Paulo’s Main Shopping Centres Iguatemi Faria Lima is considered to be one of the most expensive shopping areas in the world. Among the more than 30 international luxury brands there are Burberry, Emporio Armani, Hugo Boss, Chanel, Gucci, Kate Spade New York, Longchamp, Marc Ja-

cobs, Bottega Veneta, Christian Louboutin, Salvatore Ferragamo, Louis Vuitton, Ermenegildo Zegna, Max Mara, Tiffany & Co., and Swarovski. JK Iguatemi Mall is the newest luxury mall in São Paulo. It offers Dolce&Gabbana’s, Goyard’s, Jaeger-LeCoultre’s, Lanvin’s, Miu Miu’s, Nicole Miller’s, Panerai’s, Sephora’s, Tod’s, TopShop/TopMan’s, Van Cleef & Arpels’, and Zara Home’s first Brazilian stores. More brands include Bang & Olufsen, Bottega Veneta, Burberry, Bvlgari, Carolina Herrera, Chanel, Christian Louboutin, Coach, Diane von Fürstenberg, Ermenegildo Zegna, Gucci, Hugo Boss, Kate Spade New York, Longchamp, Prada, and Tory Burch. Cidade Jardim Mall is one of the most luxurious commercial centers of São Paulo. Its brands include Carolina Herrera, Chanel, Ermenegildo Zegna, Giorgio Armani, Hermès, Longchamp, Montblanc, Rolex, Salvatore Ferragamo, Tiffany & Co., Prada, Louis Vuitton, Jimmy Choo, Emilio Pucci, Cartier, Gucci and Canali. Fendi, Omega, Balmain, Miu Miu, Elie Saab, Valentino, Tod’s, Tag Heuer, and Dior. Morumbi Shopping offers Calvin Klein, Lita Mortari, Montblanc, Hugo Boss, Oakley, Swarovski and many others...

São Paulo Skyline locationgroup research | Retail Market Study 2013

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Jennifer Lopez

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locationgroup research | Retail Market Study 2013


128 Marrakech . The south-western Moroccan city of MARRAKECH with a population of 920,000 people, 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 “God’s country”, although another explanation from the Tinfinagh Berber language is that it may mean (in French) terre de parcours or “land of pathways”. Morocco sees hotel boom Marrakech has experienced a recent boom in hotel development, especially after the well-received and famous La Mamounia reopened in 2009. Marrakech’s luxury options only continue to grow and tourism officials say Marrakech is the most popular destination in Morocco. In 2010, the city had one third of all hotel beds in the country. Officials claim that Morocco also plans to double the number of hotel rooms in the country by 2020. More than half of all properties that are now open fall into the four- or five-star category. New Hotels coming soon in Marrakech Pearl by Hivernage This 72-suite hotel, designed by Jacques Garcia completed in the autumn, is managed by the local group behind the Hivernage Hotel & Spa. It is located in the elegant, central suburb of Hivernage, and has a large Louis Vuitton shop next to its lobby. The Great Getaway Marrakech Hotel & Spa As its name suggests, this new 20-room property is out of town,

15 minutes down the Route d‘Amizmiz. It has a lodge-style design and safari-style tents, and will be ideal for design-conscious guests looking for a peaceful, away-from-it-all vibe. The hotel is set to open in 2013. The Baglioni Marrakech This 72-room hotel, alongside 15 private residences designed by Jade Jagger, is being built on a 34-acre site on the Route d‘Amizmiz. It is due to open in 2013, and will have a Six Senses spa. Morgans Hotel Group released second Delano branded hotel in Marrakech In partnership with Moroccan entrepreneur Ahmed Bennani’s Hivernage Collection and Marbella Club Hotel Group, the 71-room luxury boutique Delano Marrakech is a self-contained luxury resort in the heart of the city. Located in the center of the Hivernage District, Delano Marrakech is Morgans Hotel Group‘s second global outpost of its signature luxury brand, the first operating in South Beach, Miami. Luxury hotel Selman Marrakech in vibrant Medina Situated five minutes away from Marrakech’s vibrant Medina, Selman Marrakech, a luxurious boutique hotel opened in spring. The Selman Marrakech offers a band of purebred Arabian horses and 56 couture rooms as well as 5 private riads designed by the French Jacques Garcia. A spa with 15 treatment rooms including an indoor and outdoor pool and hammam will most likely be as extravagant as the private collection of 16 Arabian horses available for guest to ride...

Skyline, Marrakech locationgroup research | Retail Market Study 2013

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134 Cape Town . CAPE TOWN, South Africa’s 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 extremely hazardous area for ships voyaging to India.

South Africa City Location

Rents per sqm per year in Euro

Cape Town

V&A Waterfront

Pretoria

Menlyn Park

1,387 925

Durban

The Pavillion

520

Gap kicked off in South Afric On March 20, 2012, the U.S. clothing chain unveiled its first store in South Africa, located in the swanky Sandton City mall in Cape Town. The city welcomed Gap’s second store in March, followed then by another one in Pretoria, the country‘s political capital, later in 2012.

„South African is the natural next step for expanding our store footprint on the continent,“ said Stefan Laban, Gap‘s managing director of strategic alliances. The company first offered its namesake brand and Banana Republic in South Africa through a wholesale agreement with domestic department store group Stuttafords, who would operate Gap‘s free-standing stores in the country. Gap wasn’t the only clothing retailer moving into South Africa in recent years. Spain‘s Zara opened its first South Africa store at the end of 2011 in the same mall where Gap made its debut. Luxury retailers Gucci and Cartier also had boutiques in the mall. New Lindt Chocolate Studio & Boutique released in Cape Town On the evening of Thursday 19 April 2012, the executive mayor, Alderman Patricia De Lille officially opened the new Lindt Chocolate Studio & Boutique at the Cape Quarter Lifestyle Village. Described as the only chocolate store of its kind in Africa, the mayor put her hands and feet in chocolate cement on its ‚chocolate walk of fame‘...

Skyline, Cape Town

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locationgroup research | Retail Market Study 2013


135 SPECIAL: HOLIDAY RESORTS . Monte Carlo Rolex opens its first store on Côte d’Azur In partnership with Zegg & Cerlati, Rolex has opened its first shop on the Côte d‘Azur by selecting home in Monaco. The opening in October of the Rolex boutique consolidated the close relationship between the manufacture of Swiss watches and Zegg & Cerlati. At same time it celebrates the passion that feed the two companies for the elegance, prestige and watchmaking excellence. This new jewel of 70 square metres, located in the heart of the Principality, offers a wide range of Rolex watches - including professionals and classic models from the collection Oyster. Chanel with a fine jewellery store in Monaco Since July 2012, Chanel Fine Jewellery can be found in Monaco. The 130 square metreboutique is located in the prestigious halls of the Casino, opposite the famous Café de Paris under the old open arcades. The store was inspired by the major places in Gabrielle Chanel’s life - like her residence on Faubourg Saint-Honoré or her apartment on rue Cambon. Lotus raises the style stakes At the end of May 2012, Monaco Grand Prix, the first Lotus Originals franchise store has opened near the Principality’s famous Monte Carlo Casino Square. Lotus Originals is the fashion arm of the legendary sports car and racing brand.

Chanel Jewellery launch with Princess Caroline, Karl Lagerfeld and Catherine Delestienne

Partner ForzaRossa Holding, official Lotus cars dealer since 2011, joins the Lotus family with the opening of the Monte Carlo store which carries the brand new Lotus Originals retail concept. Lotus Originals can also be found at the company’s Hethel HQ and at Norwich City Football Club’s stadium, and they also openeda flagship store in the heart of London with 445 square metres of ...

Skyline, Monte Carlo locationgroup research | Retail Market Study 2013

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Retail Market Study 2013 - Preview  

The World’s One & Only Retail Market Study 2013 / 145 Cities, 500 Malls, 750 High Streets, 1’000 Retailers & 2’000 Store Openings covered

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