As cash registers chime at shopping centres, we are happy to say it looks like the local luxury and premium-end market is appearing robust in the lead-up to Christmas.
With a few key brands, such as Chanel, Louis Vuitton and Gucci, adding additional Australian stores just in time for Christmas, it means that more consumers will need to be convinced that investing in a trusted luxury brand is a worthwhile investment.
The luxury market has certainly evolved in Australia this year. In June, Chanel and Louis Vuitton made the move from high street freestanding flagships to a Sydney shopping centre (see the MO Down for 22 June). Perth’s luxury market also grew with the launch of the biggest Burberry store in Australia (see 3rd September). And in Melbourne, there was the recent crowd-stampeding success of the new luxury precinct in Chadstone Shopping Centre (see November 26).
And while we are on the subject of new Australian stores, we read in the Courier Mail that Hermes plans to open a boutique in Edward Street in Brisbane. Louis Vuitton and Tiffany & Co. are already established brands in that area.
For more thoughts on the local luxury market, click here for our earlier blog entitled ‘Luxury And The Local.’