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When luxury's leaders always want the biggest and the best, how does the industry react when we run out of space? This is an issue we are seeing in both the domestic and travel retail markets at the moment, as the battle for prime real estate and landmark stores continues to heat up. In this week's blog, our Senior Executive VP Marco Passoni, looks at the impact this is having on sites from Paris’ famous Champs-Elysées, or via Montenapoleone in Milan, to Changi Airport, and asks how smaller players can compete as the costs head north of billions of euros. Read more here: https://lnkd.in/eueTRuK4 #LuxuryLocations #LuxuryCathedrals #Paris #Milan #NewYork

My esteemed colleague Marco Passoni sheds light on the ongoing "Store Wars" in the luxury sector. As major brands invest heavily in prime locations, it becomes crucial for smaller players to innovate and utilize space creatively. Finding unique ways to tell their brand story is essential for standing out in this competitive market. Please read more below: #luxury #retail #shoppingexperience

Traversing the Retail storefronts (on Corfu Island, Greece) a UNESCO World Heritage site! This week's video adventure took me to the enchanting Greek island of Corfu, specifically the historic Old Town, which dates back to the 8th century BC. Imagine the ancient world buzzing with activity, and now, juxtapose that with today’s vibrant yet quaint community—it's a fascinating contrast. Walking through Corfu's cobblestone streets and discovering partially intact church walls was like a live history lesson. These hidden gems, often tucked between narrow pedestrian walkways (where even a Smart car would struggle), are flanked by shops that seem as ancient as the island itself. In a delightful twist, I stumbled upon a few corporate retail brands among the predominantly family-owned stores (my estimate: 80% are family-run). Even more surprising was the scarcity of major supermarkets—90% seemed locally owned (organic) blended with a few Asian retail styles. It’s a stark reminder of how retail diversity thrives here. A standout from my visit was the Olive Wood Workshop by Tom. Picture your handy uncle or grandfather, and you get Tom, who’s been crafting exquisite products from fallen olive trees since 1969. Talk about sustainable and local business practices! On the flip side, the Old School Sneaker Club was a refreshing contrast. With its modern finishes and luxury millwork, this store has clearly undergone recent renovations. Their sleek decor effectively targets the skate demographic, blending modern retail strategies with classic charm. As I wrap up this video journey, I can’t help but recommend adding Corfu to your travel itinerary. It's a perfect blend of history and modern retail touchpoints—a testament to how timeless retail principles endure through the ages. Thank you, Corfu, for the unforgettable memories and invaluable retail insights. #RetailInnovation #SustainableOrganic #GreekOliveOil #CorfuAdventures #RetailStorefronts #CoporateRetailBrands #Sephora #RetailTrends #FamilyOwnedBusinesses #UNESCOWorldHeritage

The 2024 Summer Olympics in Paris have brought a massive influx of tourists to the City of Lights, and these visitors are having a significant impact on the local shopping and fashion industries. Paris has long been renowned as one of the global capitals of fashion, and the Olympics have only amplified this reputation. Tourists from around the world have flocked to Paris to experience the unique style and culture of the city, and they are eager to take home a piece of that experience in the form of fashionable purchases. Major luxury brands such as Louis Vuitton, Chanel, and Dior have seen a surge in sales, with Louis Vuitton reporting a 35% increase in revenue during the Olympics compared to the same period in 2023. But the impact of the Olympics on Paris' shopping landscape extends beyond just high-end fashion. Smaller boutiques, artisanal shops, and traditional Parisian marketplaces have also seen a significant boost in foot traffic and revenue. According to data from the Paris Chamber of Commerce, sales at the historic Le Marché aux Puces de Saint-Ouen flea market have increased by 27% since the start of the Olympics. Overall retail sales in the city have increased by 22% since the start of the Olympics, with the fashion and luxury sectors leading the way. This influx of tourist spending has provided a much-needed economic boost for Parisian businesses, many of which were still recovering from the impacts of the COVID-19 pandemic. The city's department stores, including Galeries Lafayette and Printemps, have reported a 19% increase in revenue compared to the same period last year. However, the shopping frenzy has also presented some challenges. Crowding and long lines at popular shopping destinations have become common, and many Parisians have expressed concerns about the impact of over tourism on the city's character and quality of life. Nonetheless, the economic benefits of the Olympics have been undeniable, and fashion and retail leaders are hopeful that this surge in activity will have lasting positive effects on Paris' reputation as a global style capital. #parisolympics #fashion #Baleni #dior #chanel #Louisvuitton

Here is a casual trip to the Champs Elysées: - I have the chance to take a beautiful, scenic trip on the Parisian M6, offering a ‘postcard moment’ with the Iron Lady. - Getting off at Charles de Gaulle-Étoile provides an excellent opportunity for a leisurely walk along the avenue. - One can admire the stunning storefronts of luxury brands. - The flagship stores of popular sports brands are also a highlight along the way. - There are numerous restaurants and coffee shops perfect for savoring a Parisian moment. This year, however, has been exceptional. The avenue is unusually calm, with fewer tourists and international shoppers. As Parisian retailers and service providers were expecting the busiest times, because of the Olympic Games, they were expecting an important flow of tourists and shoppers. Having taken the time to talk to many members working in retail and hospitality, they all agreed that the situation is not ideal and that results are not close to what they have expected or even compared to previous years. What went wrong? 🙂↔️Drop your opinion below! #topretailexpert #realretail #retailenvironment #customerexperience #olympics #jo2024 #retailconsulting

Assign a brand credential to your premium retail spaces and elevate them into a global horizon. Set boundaries for your real estate asset beyond the norms of excellence. #FTV #FTVRealEstate #FTVMalls #Business #Realty #BrandLicensing #Luxury #Opportunity #BrandValue #Development #License #Realtor

Much has changed in retail since the pandemic. But some things have returned to where they were before Covid-19. After bumps in the road high-end destinations are back. The latest Vitality Rankings from Newmark Retail – UK & EMEA finds luxury shopping locations are largely back in terms of sales and footfall as well as fewer vacancies, especially in London and the South East of England. Major urban areas and premium shopping centres have also bounced back in the rankings. Take a read about what's going on up and down UK high streets and shopping locations in my report for Altavia Watch. https://lnkd.in/e7jswZ4p

That is a wrap! 🛍️ We had a fantastic time at the ICSC conference in Las Vegas, the largest commercial real estate gathering of the year. Our goals were to secure new tenants and buyer representation opportunities and to pitch New Mexico land development sites to retail site selectors. My key takeaways..🔑 1. Brands are eager to expand despite tight financing 2. Experiential retail is on the rise with new concepts. People want to have memorable and unique experience and the retailers are listening. 3. Car Washes, Chicken QSR’s, Convenience Stores and Childcare brands are thriving and expanding. 4. Retail sector outlook remains positive, set to be the nation’s top occupancy commercial real estate sector. Exciting news: strong interest from national retailers in the New Mexico market for growth opportunities! Overall, the future is bright for retail and New Mexico!✨ Until next year… #commercialrealestate #icsc #landdevelopment #dealmaking #brokers #NewMexico #storytellling #marketing #gotspace John Algermissen NAI SunVista Commercial Real Estate NAI Global

GRI Club’s recent Future Retail Global Committee meeting brought together some of the biggest names in the industry to discuss the "new normal" in retail, which is demanding innovation, technology, sustainability, and a focus on quality of life from both retailers and real estate players. 🔹 The discussion highlighted the evolving landscape of retail real estate, with stores transforming into experiential leisure destinations to meet shifting consumer behaviours, while also emphasising the importance of omni-channel retail, particularly in certain regions, and noting a trend towards redeveloping existing assets over new construction. Despite a growing investor focus on logistics, opportunities persist in well-managed retail properties, especially in European markets that prioritise refurbishment and high street revitalization. 🔹 The importance of adapting to changing consumer preferences was also highlighted, especially among Generation Z, along with the need to integrate sustainable initiatives and consider relocation. Thanks to our co-chairs Alejandro Luna, CEO at CONQUER Estrategia Inmobiliaria, Eric Costa, President of Citynove AM - Groupe Galeries Lafayette, and Larissa Jacobson-Rooke, MBA, VP, Retail at QuadReal Property Group, as well as GRI Club’s own Fedra Rodríguez and Ludwig Menke for moderating. 🔗 Watch the full meeting on the GRI Club Media Center: https://lnkd.in/diDxjB_D #griclub #realestate #retail #future #globalcommittee