New luxury store openings in Paris this summer – Shang Xia, Berluti, Bucherer
Hermes International is opening in Paris, on rue de Sèvres, the first Shang Xia store outside China. Shang Xia is a luxury brand by Chinese contemporary artists, financed by Hermes International, the first store opening in Shanghai in September 2010, followed by a second store in Beijing last year. Shang Xia features ready to wear, accessories, furniture and tablewear. Hermes‘ most unconventional store, worldwide, is also located on rue de Sèvres.
Swiss luxury watches and jewellery retailer Bucherer is opening in partnership with Richemont Group a large flagship store at 12 boulevard des Capucines (former location of Old Englad). This will be the first watches store of this size in Paris and will feature all of Richemont Group brands. The opening has been motivated by the growing number of wealthy Asian shoppers in Paris.
Luxury menswear house of Berluti (owned by LVMH) is opening this summer two stores in Paris, one on rue du Faubourg Saint-Honoré and a second one on rue de Sèvres. The two stores will feature the full range of men’s products – ready to wear, made to measure, shoes, bags, accessories. The brand is run by Antoine Arnault, the son of LVMH owner Bernard Arnault and in 2012, Berluti made two significant acquisitions - famed Parisian tailor Arnys and artisan shoemaker Anthony Delos. LVMH also invested in a leather manufacture in Northern Italy which will produce exclusively for Berluti.
According to a recent report by Cushman & Wakefield France, Paris’ luxury retail real estate market is likely to slow, due to shortage of spaces. However, the report indicates that other Parisian addresses are welcoming luxury stores, such as Le Marais (Helmut Lang store soon to open in Le Marais) and Rue Marignan – the chosen site the first Azzedine Alaia store in Paris, in the so called ‘Golden Triangle’ of Paris.