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Savills Global Luxury Retail:
The Geography of Luxury Retailing
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The rise in the ‘affordable luxury’ segment
was apparent in store openings this year.
The ‘ultra luxury’ segment continued to
dominate, however, there was a proportional
increase in store openings by ‘affordable
luxury’ brands with them accounting for
44.9% of all luxury store openings this year
up from 38.1% in 2016.
The top cities for ‘affordable luxury’
store openings were closely aligned
with the wider luxury market,
with Paris ranking top and London
performing better, ranking second.
Other cities that are relatively well represented
for ‘ultra luxury’ brands also ranked high when
examining the ‘affordable luxury’ segment.
For example, Shanghai placed joint ninth on
this basis while not featuring in the headline
all luxury top 10. Shanghai was also one
of few markets that saw ‘affordable luxury’
store openings dominate in 2017, with them
accounting for 57.1%of all luxury store openings.
Affordable luxury brands become more active
6.9%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN PARIS
5.6%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN LONDON
5.6%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN MILAN
4.9%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN SINGAPORE
4.2%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN KUALA LUMPUR
4.2%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN HONG KONG
3.5%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN NEW YORK
3.5%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN LOS ANGELES
2.8%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN SHANGHAI
2.8%
OF ALL AFFORDABLE
LUXURY STORE
OPENINGS WERE
IN TOKYO