Luxury Brands Continue Their Land Grab in China
The only real impediment to luxury brands from expanding rapidly in China is the lack of prime retail space. Many luxury brands are now seeking to set up their flagship stores in Shanghai and Beijing, although their location and size requirements have thus far prevented many from doing so. In March, Versace opened their new Beijing flagship store and other smaller brands such as Mulberry, Celine and Van Cleef & Arpel’s flagship stores should be sized at around 400 – 500 sqm., while the bigger brands such as Chanel, Fendi and Burberry flagships should be 1000+ sqm. Some brands including Louis Vuitton may even consider opening a Maison store (of which there are only a few in the world) in China, which could reach sizes of up to 4000+ sqm. Another fundamental requirement for almost all brands in opening a flagship store is having street front facades and in a previous post The Maosuit covered the top luxury store facades in Beijing.
All luxury brands wanting to enter China now are faced with the dilemma of opening as soon as possible, or waiting perhaps a few years for the right location. With this in mind The Maosuit has recently noticed a plethora of luxury brands who have managed to secure quality spaces and will be opening major stores in Beijing soon.
Kiton and MCM will be expanding their store lineup in Beijing , while Vivian Westwood, Tory Burch, Alexander McQueen and D-Squared will all be making their first forays into Beijing within the next month or so.