Home / Knowledge / News / Fashion / London still has potential as luxury destination: Report
London still has potential as luxury destination: Report
16
Feb '17
London continues to be the most promising city for the growth of the luxury retail sector, regardless of the Brexit vote, according to a recent report. The long-term growth potential of London as a luxury destination is more than that of other fashion hubs like New York and Hong Kong in terms of retail property and breadth of international luxury brands.

According to the Luxury and Location report conducted by CBRE and Walpole, focusing on the luxury markets in London, New York and Hong Kong, all three of these cities face their own current challenges. London is taking on board the decision of the UK population to leave the European Union, New York is under a new President and Hong Kong faces challenges with declining tourist numbers from Mainland China.

From the analysis and research, a clear case for London becoming the global luxury destination emerges, says the report.

London is benefitting from the rise in international visitors due to a weaker pound, while the market in New York is cooling. As for Hong Kong, alternative Asian markets are becoming its tough competitors.

Other factors like over 100 five-star hotels, 65 Michelin-quality restaurants and the growth beyond heritage shopping locations due to high property demand in London are resulting in a rise of the city as a luxury shopping destination, notes the report. (KD)

Fibre2Fashion News Desk – India

Must ReadView All

Apparel/Garments | On 28th May 2017

Over 45% US retailers to use AI in next 3 years: Report

Over 45 per cent retailers in the US plan to utilise artificial...

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Apparel/Garments | On 28th May 2017

Naked Brand, Bendon sign agreement to reorganise

Naked Brand Group, a fashion and lifestyle brand, and Bendon Limited, ...

Interviews View All

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Darshan Mehta
Infinium Polychem

We are spending double digit figures on R&D

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search