The unstinting demand for retail properties in Europe’s prime luxury locations, coupled with the limited availability of top retail spots, has helped boost rents on a number of luxury streets over the past year.
According to research from global real estate advisor Cushman & Wakefield, while retail rents in prime luxury areas across Europe rose a healthy 5.7 percent in the year to June 2013, a number of streets notched up major gains. Paris’ Avenue des Champs-Élysées saw rents rocket 38.5 percent to $1,601 a square foot annually, making it the most expensive retail location on the continent. Meanwhile, rental levels on Paris’ Rue du Faubourg Saint-Honoré and Avenue Montaigne surged 25 percent to $889 a square foot, while levels on London’s New Bond Street gained 15.6 percent to $1,047 a square foot.
Issa Rae stopped by WWD's NYC headquarters to talk about season two of "Insecure," which premieres this Sunday on HBO. Click link in bio for all the details. #wwdeye (📷: @jgreenery; Styled by @mayteallende)
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?"