Australia gains pace as a major luxury shopping destination

Of the 30 stores it plans to open in 2013 (a third of which will be in China), Italian luxury menswear house of Ermenegildo Zegna will open at least two stores in Australia, where the company is taking control of its distribution as the country becomes “the California of Asia,” or a holiday destination for people from the region, the CEO of Zegna said yesterday.

Prada, Valentino, Salvatore Ferragamo and Fendi also plan to open stores in Australia in 2013, each with one mono-brand store, except with Prada which will open 2 stores in Australia in 2012. Perth, Brisbane and Melbourne have been doubling their luxury retail offering in 2011 and 2012, driven by an increase in rich travellers from China and Indonesia.

Chanel store in Sydney on Castlereagh Street