Nestling between Belgium, France and Germany, there can be no doubt that the Grand Duchy of Luxembourg is subject to multiple competition. “This is certainly true in the retail domain with the influence exerted by the very nearby cities such as Metz, Trèves or Saarbrücken”, explains Virginie Chambon, Head of Retail Agency Luxembourg. “But along with these, even if the impact is at a lower level, are more distant cities such as Brussels and Paris, two prestigious markets which provide a more varied and often more retail offering”.
A quick turn of the wheel to the left or the right and the potential customer can change his or her mind about where to go shopping, a bit like changing clothes. “Within this context, Luxembourg has to adapt itself in order to remain attractive and avoid erosion towards the bordering cities”, Virginie Chambon observes.
Cushman & Wakefield has advised a good number of new retailers coming into the Luxembourg market, in all sectors. The ‘low cost’ sector has seen the arrival of Action, while the ‘mass market’ has welcomed Hallhuber, Italian feminine lingerie (though not only) brand Intimissimi, and a hint of rosé wine and a game of pétanque with products from L’Occitane en Provence. The premium segment has not been left out, with the arrival of Mac Cosmetics and Sandro. And last but not least, the luxury segment has rolled out the red carpet for a brand that Charlize Theron adores (but which doesn’t love her in return?) – you will have understood of course that we are talking about Dior.
“Cushman & Wakefield has also relocated certain retailers which were already well positioned, such as leather-goods brand Longchamp and Nespresso (what else…?), to adapt to their new requirements”, Virginie Chambon concludes. “2015 has unquestionably been a good vintage for new retailers”.