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Location Services Research: Swiss Retail Market Study 2008
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Geneva and Zurich among the world's ten most expensive retail locations
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