Paris luxury retail market tipped to peak in 2013 | 28 March 2013
Paris has been tipped to remain the top choice for luxury retailers looking to expand in 2013.
Pierre Raynal, who is head of retail at real estate consultancy Cushman & Wakefield, has claimed that the demand for retail space will continue to be as fierce as it has been in the last couple of years.
Raynal cited a number of huge openings planned in Paris this year to back up his statement. He also pointed to a rise in visits and money spent in the French capital.
However, in an interview with pie-mag.com, he suggested that the city’s retail market might be approaching its peak.
He explained: “It is very likely that the excitement seen over the past two or three years will not persist, at least not in the short term, because numerous retails have recently adopted a more moderate rhythm of development.”
Luxury retailers like Gucci, Chanel and Valentino have all signaled plans to slow down their investment in new retail space in the short-term future.
A report from bfmtv.com indicates that geopolitical unrest, the rise of e-commerce and the increased risk of trivializing have all played their part in this trend. Raynal added that a diminishing supply of luxury retail space is also likely to be a key factor.
The views expressed in this post are those of the author and are not necessarily those of Qube Global Software. All facts are verified where possible directly by the author.
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