New Zealand’s luxury market gathers momentum

Tiffany & Co and Chanel are among the latest major international luxury brands to dock in Aukland, New Zealand. Both brands are reportedly entering the New Zealand market in 2016, joining Louis Vuitton, Prada, Christian Dior and Gucci. Both Tiffany and Chanel are reportedly opening at the Britomart Centre.

Auckland’s Mayor Len Brown is “confident” that other big names will follow the arrival of international jeweller Tiffany & Co to the City of Sails. A wave of new international retailers are expected to open in Auckland as the city’s population grows, and the Mayor has held discussions with a number of them.

“I’m confident Tiffany and Chanel won’t be the last upscale international stores to be attracted to the city centre,” Mr Brown said. “Over the past few years Auckland has been working collectively towards lining up high end international retail brands and those ongoing efforts have resulted in positive responses from premium brand retailers that are continuing to be followed up.”

As the Asian currencies and markets start to dip and affect the share market around the world, the New Zealand economy has no troubles at all. In April this year, economist Paul Bloxham said that the New Zealand dollar is going to be strong for some time because the NZ economy is strong.

Dior store Auckland, New Zealand