luxury retail

"Luxury spending globally increased 6% in 2018 according to Bain & Company, with Europe accounting for a third of sales, with forecasts pointing to further growth of between 3–5% per annum to 2025"

"Of the 26 global luxury locations tracked by Savills over a third reported year-on-year growth in 2018 with 50% maintaining headline rents."

"Much of the growth in luxury spend in 2018 was driven by millennials and their younger counterparts Gen Z"

"Investment activity across the big luxury houses has intensified over the last three years. Across the top 10, funding volumes (based on known values) reached $8.3bn, 10 times that seen in 2016"

"The retrenchment to core destination cities seen last year will continue in 2019"

"Despite fewer new store openings globally, brand strategies to invest in more strategic locations and streamline their portfolios, has seen some brands relocate/consolidate stores and open larger stores in the ‘best’ locations in a given market"

"Beyond the top three, there are a number of global luxury cities that stand out in terms of potential macro trading fundamentals and relative rental affordability"

"The top cities for ‘affordable luxury’ store openings were closely aligned with the wider luxury market, with Paris ranking top and London performing better, ranking second"

"Additional features such as market transparency, political stability, legal systems, liquidity, occupier terms and domestic spend drivers have also had a bearing on investor attractiveness and in turn pricing"

"Expansion by ‘affordable luxury’ brands will continue to form a key part of the overall luxury market in 2018"