What Asian cities have similar luxury shopping streets as 5th Ave or the Champs Elysées?

[_00_deathscar]

Nice photos though.

[BOM]

Most big name fashion houses have boutiques in Apujeong just for the sake of saying they have a shop in Seoul. I believe they get little-to-no actual revenue from these stores, and are not that popular among locals. That may explain the relatively empty streets, compared to other sections of Seoul.

[kyenan]

The South Koreans are even deeper in consumer debt than the Americans, a big contrast to the rest of Asia. Maybe that's why the sidewalks aren't that crowded.

Most big name fashion houses have boutiques in Apujeong just for the sake of saying they have a shop in Seoul. I believe they get little-to-no actual revenue from these stores, and are not that popular among locals. That may explain the relatively empty streets, compared to other sections of Seoul.

I have posted just a couple o' pix just to show how the luxury shops in Seoul are. But you guys went way too much without any solid facts or numbers to prove your points.

BTW, take a look at the upside of the following picture.



Hermes opened this store 'just for the sake of saying they have a shop in Seoul'? How many shops like this one are there in the world?

[BOM]

I didn't base my comment on the photos, but an article I read a month or two ago. I was implying that both fashion houses and cities base their reputations on material displays, such as on Apgujeong, though it may not necessarily be economical. Nonetheless, Apgujeong is a super sleek area that does deserve mentioning.

[_00_deathscar]

Originally Posted by BOM

Most big name fashion houses have boutiques in Apujeong just for the sake of saying they have a shop in Seoul. I believe they get little-to-no actual revenue from these stores, and are not that popular among locals. That may explain the relatively empty streets, compared to other sections of Seoul.

Link to the article then?

Seoul is hardly Milan, New York, London, Paris, Tokyo, Hong Kong...

[pokistic]

Originally Posted by _00_deathscar

My penis is bigger than yours.

http://blogs.naiglobal.com/nai_globa...worldwide.html

Now lets throw this into the mix of confusion already. According to this new article, even though prices have drop, Fifth Ave still way more expensive than any other street. Go figure.


Store Rents Fall in World’s Most-Expensive Streets


June 30 (Bloomberg) -- Store rents tumbled in the world’s most expensive locations in the first quarter and will continue to decline through the middle of 2010 as the global recession curbs spending, according to CB Richard Ellis Group Inc.

New York City kept its top rank from a year earlier as the most expensive retail market even as asking rents on Manhattan’s Fifth Avenue fell 10 percent to $1,800 a square foot per year, the Los Angeles-based commercial broker said in a report today. Rents in Hong Kong’s most desirable shopping area ranked second at $975 a square foot and Moscow was third at $790. Paris and Tokyo followed at $776 and $771, respectively.

“Everything cratered in the fourth quarter and that carried over into the first,” Ray Torto, global chief economist for CB Richard Ellis, said in an interview. “This is not a landlord market.”

Retail rents are falling around the globe as household wealth contracts, consumer confidence weakens and the jobless rate climbs. Sales of brands that cater to the wealthy may drop 10 percent this year after holding steady at $240 billion in 2008, according to estimates from luxury adviser Bain & Co.

“Most retail property markets are experiencing reduced demand from retailers and an increase in the number of vacant units, which is in turn affecting rents,” Nick Axford, head of research in Europe for CB Richard Ellis, said in the report.

Seeking Discounts

London ranked sixth in the survey at $677 a square foot per year, followed by Sydney at $624 and Zurich at $612. Los Angeles was ninth at $600 and San Francisco was 10th at $540.

Moscow rents had the biggest drop among the top 10 cities from a year earlier, falling 20 percent. Tokyo fell 10 percent and Hong Kong, Paris, Sydney and Zurich were unchanged, according to CB Richard Ellis. San Francisco rents rose 20 percent, London increased 7 percent and Los Angeles rose 4 percent.

Shopping districts in the survey included Central in Hong Kong, Ginza in Tokyo, the Pitt Street Mall in Sydney and Union Square in San Francisco, according to the broker.

In the U.S., retail rents will eventually decline 25 percent from the market peak in mid-2008, Torto said. Retailers with existing leases in desirable shopping districts and malls are negotiating for extended terms or reduced rent, he said.

Entering NYC

Some non-U.S. retailers are taking advantage of lower demand for space to enter the New York City market, said Faith Hope Consolo, chairman of Prudential Douglas Elliman’s retail and leasing division. Jewelers Richard Mille of Paris and Tous of Madrid are seeking space on Madison Avenue between 60th and 80th streets at a rate of about $800 a square foot, she said.

On Rodeo Drive in Beverly Hills, California, part of the Los Angeles market, the recession forced retailer Rock & Republic to reverse plans to occupy a 3,100-square-foot (288 square-meter) store after signing a lease last year, said Jay Luchs, a listing broker with CB Richard Ellis. The company, paying $675 a square foot on a 10-year term, wants to sublease to another tenant instead, he said.

“It isn’t chic anymore to go out and blow money,” Luchs said. “There’s a guilt factor even if you’re wealthy.”

Buenos Aires rents had the biggest decline of the global markets surveyed, dropping 37 percent. Warsaw followed with a 33 percent decrease and Washington dropped 26 percent. Mexico City fell 14 percent and there were declines of at least 10 percent in Dubai, Barcelona, Athens and Dublin, CB Richard Ellis said.


http://www.bloomberg.com/apps/news?p...d=am04frKrbKdo

[Manila-X]

Luxury shopping streets mostly happen on pedestrian oriented cities like HK or Tokyo. Car oriented ones more depend on luxury shopping malls.

[lindow]

Ginza,
Aoyama-Omotesando,
Jiyugaoka,
Daikanyama,
Shinsaibashi in Osaka,
Motomachi in Kobe,

[kyenan]

Luxury shopping streets mostly happen on pedestrian oriented cities like HK or Tokyo. Car oriented ones more depend on luxury shopping malls.

Seoul is more or less car-oriented (I don't know about Hongkong or Tokyo, but compared to NYC, yeah, Seoul IS car-oriented). But it does have luxury shopping streets. Some cities that might be car-oriented at first glance might have some pedestrian-oriented areas. And it's likely for the city to have shopping streets in those areas, if any.

[Manila-X]

Originally Posted by kyenan

Seoul is more or less car-oriented (I don't know about Hongkong or Tokyo, but compared to NYC, yeah, Seoul IS car-oriented). But it does have luxury shopping streets. Some cities that might be car-oriented at first glance might have some pedestrian-oriented areas. And it's likely for the city to have shopping streets in those areas, if any.

NY is only car-oriented if you happen to be in the outer boroughs especially Staten Island. As for HK, those living in the outer areas of The New Territories will have to depend on cars.

But even in some car-oriented cities, there are luxury shopping streets such as Rodeo Drive in Beverly Hills.

I can't speak for Seoul since I haven't been there.

[kyenan]

Originally Posted by WANCH

But even in some car-oriented cities, there are luxury shopping streets......

Yeah, that's what I am saying.

[kyenan]

Originally Posted by _00_deathscar

Seoul is hardly Milan, New York, London, Paris, Tokyo, Hong Kong...

This particular sentenc sounds funny.

[_00_deathscar]

But it's true.

So I don't know or see what he meant.

[BOM]

I couldn't find the original article, but I did find this interesting article about various areas of Seoul {LINK}.

According to Cushman & Wakefield, Gangnam Station saw robust growth in rental costs last year, increasing 37.9 percent year on year to about 6.5 million won per square meter per year, the 10th highest fee in the world, followed by other major shopping streets like Manhattan's Fifth Avenue, Hong Kong's Causeway Bay and Paris' Champs Elysees.

Aside from Gangnam Station and Myeongdong, Apgujeong and Chungdam-dong streets are usually grouped together to be classified as the most high-end shopping district.

But Hwang made sure that the two areas were distinguished.

``You can't refer to them interchangeably because the two areas offer a completely different range of brands and experience,'' he said.

Chungdam-dong is where top European makers such as Louis Vuitton, Prada, Gucci, Hermes and Cartier have nested. Apgujeong is a few blocks down the road, where shoppers can find less expensive private collections.

``The consumption pattern in these higher-end areas is distinct in that shoppers don't set out necessarily to buy,'' he said, explaining that many simply intend to browse until they come across an outfit with a hefty price tag. ``The number on the tag probably won't be their main concern, though.''

Another characteristic specific to this area is that brand turnover isn't quick.

However I think Chungdam and Apgujeong will get more popular in the future, especially once the recession leaves Korea and East Asia.

[kyenan]

Originally Posted by BOM

I couldn't find the original article, but I did find this interesting article about various areas of Seoul {LINK}.



However I think Chungdam and Apgujeong will get more popular in the future, especially once the recession leaves Korea and East Asia.

"shoppers don't set out necessarily to buy"

That's pretty much true too to Madison and Fifth avenues from my personal experience. Have you been to Chungdam at all? I have lived both of New York and Seoul for 7 years respectively and I have been the luxury shopping streets of both cities and didn't find much difference in terms of customer's shopping patterns.

What's needed for you to prove your point is not the personal opinion of a some guy but actual number to show the shops in Chungdam hardly sell anything.

And even the guy in the article makes clear that "The number on the tag probably won't be their main concern, though."

[kyenan]

Originally Posted by _00_deathscar

But it's true.

So I don't know or see what he meant.

True?

Do you know why I said "funny" at all?

You sound like Hongkong is pretty much on par with the cities like NYC, Paris, and London in terms of richness or cultural/fanshion influence over the world, which is by no means true in reality. You shouldn't have put Hongkong there. Maybe Tokyo is in the right place, but hongkong? come on....

[Manila-X]

Originally Posted by kyenan

True?

Do you know why I said "funny" at all?

You sound like Hongkong is pretty much on par with the cities like NYC, Paris, and London in terms of richness or cultural/fanshion influence over the world, which is by no means true in reality. You shouldn't have put Hongkong there. Maybe Tokyo is in the right place, but hongkong? come on....

It is!

[Manila-X]

Some known HK brands





Major clothing brands such as Esprit have its financial HQ in HK

[_00_deathscar]

Originally Posted by kyenan

True?

Do you know why I said "funny" at all?

You sound like Hongkong is pretty much on par with the cities like NYC, Paris,
and London in terms of richness or cultural/fanshion influence over the world, which is by no means true in reality. You shouldn't have put Hongkong there. Maybe Tokyo is in the right place, but hongkong? come on....

In terms of where fashion originates, it quite clearly isn't on a par with those cities, although Hong Kong is finally starting to launch it's own fashion labels as well.

When it comes to consumerism and setting up flagship stores and boutiques, it quite clearly is, and perhaps even bigger than some of those cities (add LA/Beverly Hills to that list as well) - which was my point...Seoul isn't at that level.

How many of the top brands in the world have you seen which aren't listed "Milan . Paris . Hong Kong . New York . Tokyo . London"?

[Skybean]

Originally Posted by kyenan

You sound like Hongkong is pretty much on par with the cities like NYC, Paris, and London in terms of richness or cultural/fanshion influence over the world, which is by no means true in reality. You shouldn't have put Hongkong there. Maybe Tokyo is in the right place, but hongkong? come on....

Disagree with this.

Hong Kong is one of Asia's top fashion cities and rightfully deserves to be mentioned with Tokyo. ESPRIT, Giordano, Baleno, Shanghai Tang, Tommy Hilfiger and Crocodile are headquartered in Hong Kong.

A giant Louis Vuitton trunk marquee illuminates the Hong Kong skyline as the global brand celebrates its 150th anniversary with a glittering party in the city.



Top global fashion brand, Louis Vuitton, selected Hong Kong as one of the four cities worldwide to host its 150th anniversary celebration recently.

Hong Kong joined Paris, New York and Tokyo as host cities in a glittering event held in a 70-metre-long - about the size of three tennis courts - Louis Vuitton trunk marquee built on the Tamar site overlooking the famous Victoria Harbour.

CEO and chairman of Louis Vuitton and LVMH Fashion Group, Yves Carcelle, said the celebration which attracted over 2,000 guests, represented a vote of confidence in the Hong Kong market, illustrated by Louis Vuitton's long-term investment in the city. Louis Vuitton has more flagship stores in Hong Kong than anywhere except Paris and Tokyo.

"Hong Kong is our Asia Pacific headquarters for 14 countries in the region. Its strategic location, its importance as a fashion capital in this part of the world, coupled with its efficient communications make it the perfect city for us to do business," said Mr Carcelle who was joined at the celebration by Patrick Vuitton, a fifth generation member of the founding family.

source: http://gbcode.hktdc.com/uniS/www.hkt...tton200405.htm

Armani opens in HK largest flagship store outside Milan


Hong Kong is an important gateway to China - a marketplace with unrivalled potential, according to leading Italian fashion retailer Giorgio Armani which set up its regional headquarters for Asia here.

Tomorrow (November 1) the Armani Group will open a 3 000 -square metre (or 34 000-square foot) flagship store - the company's largest in the world outside Milan - in Chater House, Central.

The Director-General of Investment Promotion at Invest Hong Kong, Mr Mike Rowse, today (October 31) officially welcomed the new Armani/Chater House multi-brand store and wished the Armani Group every success in the future.

The President and Chief Executive of the Armani Group, Mr Giorgio Armani, commented: "Hong Kong is one of the most cosmopolitan and vibrant cities in the world and through its special legal and trading status is still an important gateway to China - a marketplace with unrivalled future potential."

Mr Armani continued: "Armani/Chater House is right in the heart of the Central district where a complete cross-section of Hong Kong's diverse population passes through each and everyday, thereby offering a unique location for an Armani world under one roof. I look forward to welcoming many visitors to Armani/Chater House."

source: http://www.investhk.gov.hk/PageContr...ail&newsid=326

Upmarket brands such as Louis Vuitton, Christian Dior, Hermes, Ermenegildo Zegna and Dolce and Gabbana are taking up to 10,000 square feet for flagship stores in Central, including Prada and Yves Saint Laurent Rive Gauche's "new concept" stores in the lavishly refurbished Alexandra House. High-end Spanish fashion label Zara opens its first Hong Kong store in the IFC Mall this month, while the first Asian flagship store of leading Belgian ladies fashion brand SCAPA opened in March.

source: http://gbcode.hktdc.com/uniS/www.hkt...tail200404.htm