According to Cushman & Wakefield analyst Pierre Raynal, “Paris is the most important destination for luxury retailers in Europe.” The commercial real estate expert said this distinction starts at the city’s airports, which together see 88.8 million travelers a year, “an increasing number of them coming from Asia,” he noted.
“To give you an idea of the gap between Paris and London, which is a [comparatively] attractive city: Paris had 1.1 million visitors from China in 2012, while London had only 250,000,” said Raynal. “Moreover, Paris’ two main department stores, Galeries Lafayette and Printemps, get 50 percent of their luxury turnover from Asian customers.”
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"