We recommend you read this interesting article by Forbes, entitled “Who Is Getting Rich Off Your Shopping Sprees?”
In essence, it covers the high-end luxe brands in New York through to H&M and Apple... It mentions Bernard Arnault as “leading the charge” of the billionaires benefiting from shopping sprees - as the shares of the luxury house are up nearly 18 percent for the year and have more than doubled from their 2009 low, enough to boost Arnault's fortune by $11 billion and make him Europe's richest person for the first time.
If we put a local slant on this article, we wonder if perhaps George Street Sydney will be the new Fifth Avenue... with Bernard Arnault's Louis Vuitton mega flagship store on the corner of King and George Street slated for opening in 2011, right next door to Steven Job's existing Apple emporium on the other side of King and George Street. There are Myer and the QVB further up George Street, and then Burberry and Paspaley will be neighbours further down George Street, as one makes their way towards the Four Seasons Hotel, before you hit The Ivy coterie of commercial and branded boutiques. Don't "they" say, it really is "all about the mix" when you are shopping, there is clear methodology in these evolving luxury brand strategies for key destination positions.
Image: The Blacket Hotel Sydney (proposed new site for Louis Vuitton's Flagship Store) and Apple Retail Store both George Street Sydney