Location Services Research: Swiss Retail Market Report
28/01/2008 08:48
PR Newswire
ZURICH, Switzerland, January 28 /PRNewswire/ --
- Geneva and Zurich Among the World's Ten Most Expensive Retail Locations
- Note: The entire press release with graphics can be downloaded free of
charge in pdf format at http://www.presseportal.ch/de/pm/100009835?langid=2
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
Tokyo Ginza 7'426 387
Zurich Bahnhofstrasse 7'530 392
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.
(c) 2008 Location Services AG - All rights reserved; specimen
copy requested.
Internet: http://www.location.ag/
Contact:
Location Services AG
Marc-Christian Riebe
Usteristrasse 23
8021 Zurich
Tel. +41-44-225-95-00
Fax +41-44-225-95-01
E-Mail: kontakt@location.ag
Contact: Location Services AG, Marc-Christian Riebe, Usteristrasse 23, 8021 Zurich, Tel. +41-44-225-95-00, Fax +41-44-225-95-01, E-Mail: kontakt@location.ag