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Prada open flagship stores in luxury retail boom by Duncan Krause
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Prada open flagship stores in luxury retail boom |
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Fashion & Cosmetics
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Burberry's new 820sq m flagship quietly opened for organization on the weekend and already trade has been brisk.
1 Burberry sales assistant who asked to not be named stated it was "like Christmas in here on the weekend".
The new retailer at 343 George Street is 3 times the size on the brand's preceding store and stocks the complete Burberry variety. Costs variety from $195 to get a men's tie to $6795 for any leather biker jacket.
Study extra Want magazine
The Burberry boutique is component of a boom in luxury store openings in Sydney this year that has incorporated the very first Bottega Veneta shop in Australia within the Westfield Sydney improvement, which also homes new stores by Diane von Furstenberg, Hugo Boss, TAG Heuer and Salvatore Ferragamo.
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In July, Prada will open a flagship retailer at the entrance for the Westfield complex, which will be flanked by Prada's sister brand Miu Miu.
The luxury shop openings are a sign of increasing self-confidence within the leading finish in the retail industry.
"Our new Sydney shop is definitely the most ambitious and pricey boutique we've got ever opened," TAG Heuer chief executive Jean-Christophe Babin stated.
"After just two months of operation, it was already our No 1 store within the globe."
The luxury store openings are further evidence of considerable market place segmentation in the retail sector. Even though the middle and decrease ends from the marketplace have been hit by rising fuel prices and rates of interest and also a mood of uncertainty, the prime finish is booming.
In contrast to retailers such as the Colorado Group in Australia, which was placed in voluntary administration last week, American Apparel within the US, which is on the brink of bankruptcy, and Swedish retailer H which reported a 30 per cent drop in income for the first quarter, luxury is booming.
Burberry reported a 30 per cent increase in revenue for the 3 months to December 31, and LVMH, owners of brands like Louis Vuitton, Christian Dior and TAG Heuer, reported a 19 per cent surge in revenue for last year.If you like bottega veneta please Visit our bottega veneta online store! Happy shopping!
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