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Geneva and Zurich among the world's ten most expensive retail
Zurich (ots) - Not only are high-class watch and fashion
manufacturers using the high demand for luxury products as reason for
expansion. Retailers are willing to pay rents comparable to those of
London and Paris, because Switzerland's two largest cities have among
the highest retail sales in the world - due to the fact that they
have the world's greatest purchasing power.
Top ten locations worldwide
City Location CHF/m2/p.a. Euro/m2/month
New York 5th Avenue 16'304 849
Hong Kong Causeway Bay 13'170 686
New York Madison Avenue 13'037 679
Paris Avenue des Champs Elysées 10'020 522
New York East 57th Street 9'778 509
London New Bond Street 8'845 461
Zurich Bahnhofstrasse 7'530 392
Tokio Ginza 7'426 387
Geneva Rue du Rhône 7'310 381
Dublin Grafton Street 7'262 378
The net rent prices apply to a ground-level, 100 m2 store with 6
metres of display window frontage.
American retailers expand in Switzerland
This spring, Apple will open its second flagship store in
continental Europe on Zurich's Bahnhofstrasse. The fourth computer
temple will follow in Geneva in the fall. The first Apple Shop in a
"Media-Markt" was positioned on 80 m2 in Zurich. Other American
retailers include: American Apparel, BCBG Max Azria, Kiehl's New
York, Fossil, Guess and, with Tom Ford, another American cult brand.
Things are extremely busy in Geneva
Louis Vuitton opened the flagship boutique on Rue du Rhône and
Gucci countered with twice the retail space. Omega is now present at
the former site of the L.V. store (with key money 15-times the
monthly rent). The top rent prices are CHF 7,300/m2 per year. This
places Geneva behind Zurich in the ranking of the world's ten most
expensive retail cities.
Six further luxury brands will be opening their own retail stores
this winter on Geneva's luxury boulevard including Boucheron, Fendi,
Jean-Paul Gaultier, Loro Piana as well as the jewellers Graff and
Gerald Genta. Fashion companies which have not yet found a location
on the Rue du Rhône are forced to resort to unusual methods:
collections are loaded into busses in Milan, driven to Lac Léman and
sold directly in hotels.
Changes in Zurich
Loro Piana and Blancpain will be opening stores this fall at
Paradeplatz; Bonita and Fossil at the consumer-oriented part of
Bahnhofstrasse. Compared to the previous year, Ermenegildo Zegna
experienced a 40% growth in sales: more than any other Zegna store in
the world. Rent prices for new rentals are CHF 7,500/m2 p.a. This
places Bahnhofstrasse among the top 8 net rent prices in the world.
Date: January 2008. We accept no liability for the use of this report
or its contents. Copyright 2008 Location Services AG - All rights
reserved; specimen copy requested.
ots Originaltext: Location Services AG
Location Services AG