Savills Global Luxury Retail: 2019 Outlook
"The retrenchment to core destination cities seen last year will continue in 2019"
Luxury retail
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What are the large luxury houses investing into?
"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 democratisation of luxury – what does this mean for luxury destinations?
"Much of the growth in luxury spend in 2018 was driven by millennials and their younger counterparts Gen Z"
European destination cities led luxury rental growth in 2018
"Of the 26 global luxury locations tracked by Savills over a third reported year-on-year growth in 2018 with 50% maintaining headline rents."
The rising importance of international flagships
"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"
The big luxury groups step up their dominance
"While new openings declined last year this was largely at the expense of smaller independent brands as the top three luxury houses, LVMH, Kering, Richemont all increased new store openings globally in 2018"
A retrenchment to core destination cities
"The retrenchment to core destination cities seen last year will continue in 2019. Smaller, emerging and underserved destination cities will prove attractive as and when specific opportunities arise"
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London and New York offer greatest opportunities for luxury watch store openings
"44 per cent of watch brands with standalone boutiques aren't yet present in either city."
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When is prime retail not prime? When it doesn't fit its catchment area
"Today's prime retail is designed to match the profile of the local neighbourhood."
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'Mini me' culture is big business for childrenswear brands
"Inspired by Suri Cruise, childrenswear has become a multi-billion dollar market."
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