Melbourne's luxury venues will almost double when Chadstone Shopping Centre officially opens its new luxury retail precinct on November 18.
Chadstone will house 12 high-end stores including Chanel, Burberry, Hugo Boss, Louis Vuitton, Omega, Prada, Coach, Ralph Lauren and Tiffany, as well as Miu Miu's first Australian store, and the first stand-alone Jimmy Choo store in Victoria.
Melbourne’s Crown Casino is also increasing its luxury fashion offering with a two-storey Versace outlet to be launched later this month. Crown already boasts Louis Vuitton, Prada and Burberry as its luxury tenants.
We read about these developments in an article entitled Rich Pickings. This article suggests “Australia seems to be experiencing something of a luxury boom. According to IBIS world, there are expected to be 4917 luxury goods boutiques in Australia, a 2.8 percent increase from 2008-9.”
We raised our eyebrows at the above suggestion of 4000+ luxury boutiques. This is where we believe the word ‘luxury’ is being misused. If the journalist was consistent in her article, she mentioned only the international luxury mono brands in terms of the first and second tier brands, the number of distribution points (including airport, duty free and department store) would be closer to 200 – obviously there is a very loose application of the word luxury.