Paris is the world’s hottest global retail market attracting 50 new brands last year, while France is ranked as the leading country for new entrants, according to the latest edition of How Global is the Business of Retail by global property advisor CBRE.
The 2014 report which tracks retailer’s movements in 2013, found that the overall footprint of global retailers at country level grew by 1.7%. Over half of retailers (51%) are now present in all three major global regions, The Americas, Europe Middle East and Africa (EMEA) and Asia Pacific, a slight increase on the previous year.
The number of new entrants at city level was up by 26% year-on-year, with an increasing number of retailers crossing borders to grow their businesses. Paris has risen in popularity among the cities most attractive to retailers welcoming 50 new entrants over the year, including 10 new Luxury & Business Fashion Brands. Paris benefitted from three new shopping centres in 2013, but it was the prime high street locations that attracted most global brands. Competition on these high streets between luxury brands is fierce due to surging demand from tourists, especially from China.
Tokyo is second as the most attractive city for global retailers, seeing double the number of new entrants during 2013 (48) than it did in 2012, reflecting renewed confidence in the economic prospects of Japan. Half of all new entrants (24) came from the US while a further 18 were from Europe. Hong Kong and Abu Dhabi were the third and fourth ‘hottest’ markets with 43 and 42 new entrants respectively.
London is the home of more international brands than any other city, yet it still attracted 31 new market entrants last year. Other cities in the top ten included Beijing, Moscow, Shanghai, Frankfurt, Taipei and Singapore.
How Global is the Business of Retail analyses the operational networks of 334 leading international retailers across 61countries.
