While the Bavarian capital is by no means Germany’s largest metropolitan district, covering 119.9 square miles, nor its most populous, together with the surrounding areas, Munich is Europe’s most prosperous economic region, according to the realty and consultant firm Comfort. The city has the lowest unemployment rates and highest purchasing power in all of Germany, with GfK Geodata placing its residents’ clothing purchasing power index at 137.1 based on a national average of 100. And shop they do — the concentrated network of shopping streets in Munich’s city center clocks in between 12,000 and 15,000 people an hour during peak times.
Demand for space is steadily high, keeping rents on Munich’s chain- and midpriced- brand-studded Neuhauser Strasse/Kaufingerstrasse and Marienplatz “solid as a rock,” and the highest in Germany, at about $488 a square foot annually for smaller spaces. And in the upper segment, Munich’s Maximilianstrasse (at $373 a square foot) has long featured a who’s-who lineup of international luxury flagships.
“The city may be very settled, smug and rich, but when it comes to high-street retailing, Munich is in its own league,” said Manfred Schalk, director of Comfort’s Munich office. He added, “Munich is extraordinarily ambitious.”
The recently opened Maison Louis Vuitton in the historic Residenzpost on the corner of Maximilian and Residenzstrasse is a case in point. Housed on three floors and 14,000 square feet of space in what was one of Germany’s oldest post offices and the first in Bavaria, the Maison “sets a new benchmark for retailing in Munich,” an industry observer said. And also a milestone for Vuitton, which opened its first German store in Munich in 1977 on Maximilianstrasse and now operates 11 stores in the country.
Munich is one of the most dynamic cities, not only in Germany but also at a European level,” noted Roberto Eggs, president of Louis Vuitton North Europe. “Munich has rapidly developed into an economic and cultural center of the country, and we did not hesitate once to the opportunity to open in this city arose. Moreover, we had the chance to be able to open at an iconic location,” the renovation of which took five years. At the end of 2013, a 4,850-square-foot Espace Louis Vuitton Munich, hosting contemporary art exhibits, will also be at the site. Meanwhile, Bucherer has just moved into new three-story quarters on Residenzstrasse, making it a direct neighbor of Maison Vuitton.
“People buy and live luxury in Munich. They care about their appearance and like to show that they wear luxury fashion and jewelry,” noted Valentin von Arnim, managing director of Hamburg-based cashmere specialist Iris von Arnim, which recently opened a Munich store. “Tourists also play a large role, especially from the Emirates but also Russia and the U.S., attracted often by the medical treatments available in Bavaria.”
Von Arnim chose to open in the Brienner quarter on the Amira Platz. “It is a beautiful and central area near the Odeonsplatz, which keeps on developing. It has more charm and a luxury feel, with its trees, old buildings and outdoor cafés, than some of the high streets,” he pointed out.
Wunderkind’s first stand-alone store in Munich also just made its debut on Promenadeplatz near Lodenfrey, one of the city’s large independent specialty stores. Like Ludwig Beck, it has invested heavily is the last few years and is a noted Munich fashion institution.
According to Edwin Lemberg, cofounder and chief executive officer of Wolfgang Joop’s high-end Wunderkind brand, “Munich is the secret fashion capital of Germany. It’s favorably situated, with a taste for luxury among the international and strong local clientele.”
Population: 1.4 million Population change, past year: +4.4 percent Purchasing power: 27,464 euros ($36,716) in 2011 Key industries: Media, automotive industry, electronics, insurance, finance, tourism, retail Number of malls: Eight within city limits Malls in development: Three withincity limits Other major construction projects: The development of a 53,840-square-foot former Karstadt department store site set to open later this year. Tenants include SportScheck, which is moving its Munich headquarters to more than 107,000 square feet of space there; Forever 21, with about 65,000 square feet, and Mango, with 24,750 square feet.
HOT SPOT: HOFSTATT PASSAGE
Call it the missing link. While Munich has no shortage of attractive inner-city shopping centers and passages, the new Hofstatt Passage, which opened April 24, extends the existing pedestrian zone on the highly frequented Sendlinger Strasse and is expected to consequently upgrade the entire area.
Indeed, the passage drew 80,000 visitors in its first three days. Seven years in the making, the 463,000-square-foot ensemble on the former site of the Munich newspapers Süddeutsche Zeitung and Abendzeitung combines landmark and newly designed buildings. The 167,000 square feet of retail space house a youthful mix of international brands. Some, like J. Lindeberg, are making their German debut there, with others, like Abercrombie & Fitch (which opened last year) and Hollister, operating their largest doors in Europe.
Tom Tailor is present with its first center city Munich store, showcasing Tom Tailor, Tom Tailor Denim and Tom Tailor Polo Team in about 8,600 square feet, on two floors. Adidas, on three floors, features the Sport Performance, Originals, SLVR, Adidas by Stella McCartney and Porsche Design collections in about 5,385 square feet. Also on board: Codello, Gant, Calzedonia, Freeman T. Porter, Humanic, He by Mango, Brandy & Melville and Liu Jo.
There'll be no rest for those headed to Europe for men's, as Paris just closed the gap with Milan. According to a provisional calendar released by the Chambre Syndicale, Paris Men's Week will now open a day earlier on January 16. See new highlights on the official lineup on WWD.com. #wwdnews #wwdfashion (📷: @kukukuba)
BREAKING: Jonathan Saunders is leaving @DVF. The designer has resigned from his position as chief creative officer of Diane von Furstenberg, the company said in a statement on Friday. At the time of his hire, von Furstenberg said Saunders’ arrival symbolized and facilitated her stepping back from the day-to-day duties that occupy the work of a full-time creative director. The British designer joined DVF in May 2016 and was in charge of all product categories. #wwdnews
For @versace_official’s spring ad campaign, the brand emphasized the archival prints from the spring tribute collection dedicated to the late Gianni Versace. Closing out the show were five of Gianni’s favorite models: Cindy, Naomi, Carla, Helena, and Claudia. Bowing on December 18, the new campaign is yet another tribute to supermodel-dom as the images by Steven Meisel are fronted by @iamnaomicampbell, @cturlington, @gisele and more. #wwdfashion
Four-time Oscar-nominated actress Annette Bening has been waiting 20 years to play Gloria Graham in "Film Stars Don't Die in Liverpool," which will be released on December 29. The movie about Graham – a Hollywood star known for her controversial relationship with a younger Englishman named Peter Turner – is based off a memoir Turned wrote. "She felt vulnerable to him, because she loved him, she really did love him. And anyone that we really truly are in love with, we re vulnerable to in a very deep way," said Bening. Read our full interview with the modern icon of an actress on WWD.com. #wwdeye (📷: @ninebagatelles; Styled by @cristinaehrlich)
The crisp white button down: a staple that can be dressed up or down and accessorized throughout the decades. Here, on a Art Basel-goer in 2017 on the left and on the iconic Audrey Hepburn in “Roman Holiday” in 1953 on the right. #tbt #wwdfashion (📷: Andrew Morales)
Known for her work with @victoriassecret, 25-year-old model @georgiafowler is raising her profile in Hollywood. Fowler stars in @vincecamuto’s holiday campaign, which launched in partnership with “Pitch Perfect 3.” “Almost every shoot with Vince Camuto, I’ve had to face a fear…It was definitely a challenge. I’m so grateful for it, though. I’ve always wanted to be a pop star, so that was the perfect chance,” Fowler said. Head to WWD.com to read about Fowler’s experience modeling, including at the #VSFashionShow, and her relationship with Nick Jonas. #wwdeye (📷: @jilliansollazzo)
EXCLUSIVE: Huda Kattan just became the first beauty influencer to land a major beauty deal. Kattan's business, @hudabeauty, has received a minority investment from private equity firm TSG Consumer Partners. The brand, which industry sources say is on track to do $200 million in retail sales for 2017, will receive support on product, retail and geographic expansion through the deal. Get all the details on the deal and read @_a_collins' interview with Kattan on WWD.com. Link in bio. (📷: @jgreenery) #wwdbeauty #wwdnews
Peruvian model @juanaburga_official – who is known for walking the runways of @rodarte, @viviennewestwood and @torybuch – is making the move to the big screen with drama “Los Últimos.” The film premiered in Argentina in November and arrives in the U.S. and Europe in 2018. On making the switch from modeling to acting, Burga told WWD: “It’s a completely different thing – a lot of people think it’s similar or try to connect things, especially like getting used to the camera or being looked at all the time or playing these different characrers, but film is a completely different story.” #wwdeye (📷: @jgreenery)
London’s newly opened @designmuseum will look back on the life and work of Azzedine Alaïa in a show that the designer helped to curate before he died of heart failure last month. The retrospective, which Alaïa had worked on with Mark Wilson, chief curator of the @groningermuseum, will look at the impact of his work worldwide. The show, “Azzedine Alaïa: The Couturier,” will run from May 10 to October 7. Read more about the exhibit on WWD.com #wwdnews #wwdfashion (📷: @zefashioninsider)