ESCP Europe

Item type

Periodical

Language

English

Source

WWD: Women's Wear Daily. 5/20/2024, p14-14. 1/2p.

Publication year

2024

ISSN

01495380

According to a report from Savills, luxury store openings slowed worldwide in 2023 but are expected to pick up again in 2025. The report suggests that luxury brands should consider opening stores in growing, affluent regions across China, India, and Dubai, rather than just focusing on capital cities and leisure destinations. While luxury store openings were down 13% globally in 2023, the wider Asia-Pacific region saw a 31% increase in openings, with China accounting for 41% of all global openings. Other markets identified as underserved by luxury brands include Mumbai, Delhi, Jakarta, Bangkok, and Dubai. [Extracted from the article]