New Retail Openings Shift Paris Luxury Shopping Scene

The luxury retail landscape in Paris is seeing some designer changes, the Wall Street Journal is reporting.

While Avenue Montaigne is home to Dior and Chanel, and Hermès's can boast an address on the Rue du Faubourg Saint-Honoré, an influx of wealthy tourists is opening up new neighbors to luxury merchants.

For example, watch and jewelry group Cie. Financière Richemont spent more than $66 million on a shop in the center of Paris. The investment—Richemont's first with a new real-estate fund—is a high-stakes bet that tourist spending will fuel a new luxury shopping neighborhood close to the capital's biggest department stores.

Leading luxury executives will be looking to the area around Richemont's new building to see if the owner of Cartier and Montblanc can begin capturing a flow of Chinese tourists that circulate the nearby Galeries Lafayette and Printemps department stores. In the past two years, major brands like Ralph Lauren and Hermès crossed the Seine to set up their first shops there.

 

FREE Virtual Event

Pivoting Back to Travel: Phase 4

Are you prepared to guide your clients through the “new normal” of travel? Join us December 15, 2020 from 1pm-2:20pm EST for Pivoting Back to Travel: Phase 4. The upcoming installment of our FREE virtual series will feature presentations from the Cayman Islands, Dominican Republic, and Seabourn on their most up-to-date travel procedures, health & safety protocols they’ve implemented to keep guests safe, activities that are open to visitors, what your clients need to know while on their trip and more! Visit www.pivotingbacktotravel to view the full agenda and register for your FREE pass.
Read more on:

Suggested Articles:

Nazaré, Portugal is a fishing-town-turned­-tourist-retreat, set between cork groves, eucalyptus trees and the ocean, is a place to relax in the sun.

Uniworld Boutique River Cruises is debuting a train-only itinerary, plus more Cruise & Rail travel experiences in 2022. Here's what you need to know.

Six Senses La Sagesse, Grenada will mark the brand’s debut resort in the Caribbean when it opens in 2022. Here's what you travelers can expect.