s Japan’ Rising Tide For more informaion about this report, please contact : Research Retail Services Hiroshi Okubo Exective Director 03 5288 9799 hiroshi.okubo@cbre.co.jp Akihisa Sato Senior Director 03 5288 9076 Akihisa.sato@cbre.co.jp Kaoru Kurisu Analyst 03 5288 9267 kaoru.kurisu@cbre.co.jp Shannon Nishimatsu Consultant 03 5288 9790 shannon.nishimatsu@cbre.co.jp For more informaion on Grobal Research contact : Nick Axford, Ph.D. Global Head of Research +44 20 7182 2876 nick.axford@cbre.com Richard Barkham, Ph.D. Global Chief Economist +44 0 20 7182 2665 richard.barkham@cbre.com Spencer Levy Head of Research, Americas +1 410 951 8443 spencer.levy@cbre.com Follow Spencer on Twitter: @SpencerGLevy Henry Chin, Ph.D. Head of Research, Asia Pacific +852 2820 8160 henry.chin@cbre.com.hk Neil Blake, Ph.D. Head of Research, EMEA +44 20 7182 2133 neil.blake@cbre.com Follow Neil on Twitter: @neilblake123 Follow us CBRE GLOBAL RESEARCH This report was prepared by CBRE Japan Research Team, which forms part of CBRE Global Research – a network of preeminent researchers and consultants who collaborate to provide real estate market research, econometric forecasting and consulting solutions to real estate investors and occupiers around the globe. All materials presented in this report, unless specifically in dictated otherwise, is under copyright and proprietary to CBRE. Information contained herein, including projections, has been obtained from materials and sources believed to be reliable at the date of publication. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about it. Readers are responsible for independently assessing the relevance, accuracy, completeness and currency of the information of this publication. This report is presented for information purposes only exclusively for CBRE clients and professionals, and is not to be used or considered as an offer or the solicitation of an offer to sell or buy or subscribe for securities or other financial instruments. All rights to the material are reserved and none of the material, nor its content, nor any copy of it, may be altered in any way, transmitted to, copied or distributed to any other party without prior damage, cost or expense incurred or arising by reason of any person using or relying on information in this publication. © CBRE Ltd. 2015 Luxury Retailers Sailing in A recent CBRE Research study of retail market activity – Asia Pacific Retail Hotspots 2014 – found that Tokyo saw 63 new retailer entrants in 2014, the highest of any regional market, on the back of stronger domestic consumption, the improving job market, growing tourism arrivals and the weaker Yen. Over the past year retailers have been particularly active in leasing space in prime street shops in core shopping locations such as Aoyama, Jingumae, Ginza and Omotensando. Many of these new entries and expansions have been by overseas luxury retailers, which have recorded strong sales in Japan in recent years. Retailers in this sector continue to display strong expansionary demand in Tokyo but there is very little space available on the best streets in core retail areas. This special report by CBRE Research analyses the market penetration, size, nationality and geographical coverage of luxury retailers in Tokyo and assesses the outlook for the major retail districts of Ginza, Omotesando and Shinsaibashi. ●Japan is the second largest after US in terms of luxury market size. ●On the other hand, the penetration of luxury brands (= the ratio of the number of brands that have stores in each market to the total number of brands categorised as luxury) in Japan is relatively low compared to other developed APAC countries, implying potential for further expansion by major luxury brands. ●Recently, the number of store openings by luxury brands in Japan has been increasing again, with a record number of stores opened in 2014. ●Prime retail rents in Tokyo have risen by 20% from the end of 2013, but have been Market Penetration of Luxury Brands in Asia Pacific China 89 % S.Korea 69 % Hong Kong 82 % Malaysia 65 % Japan Shingapore 78 % 76 % Thailand Taiwan Indonesia 65 % 61 % Australia Vietnam New Zealand 48 % 46 % 26 % 74 % 《Reference》 UK (London) 89 % India 54 % 《Reference》 USA (NY) 71 % 《Reference》 # of brands with shops in the given area as a % of total luxury brands France (Paris) 71 % Proportion of Luxury Stores in Ginza, Omotesando and Shinsaibashi by Retailer Country of Origin flat over the last couple of quarters. However, with more luxury brands planning to open stores in high-streets, the rents are likely to see further upside. CO N T E N T S 4 5 1 Development of Luxury Market in Japan 2 The Global Luxury Retail Market 2 Switzerland USA UK Germany 35.2% 27.8% 22.2% 7.4% 5.6% 1.9% 27.6% 31.0% 3.4% 20.7% 10.3% 6.9% 34.5% 27.6% 17.2% 13.8% 3.4% 4 The Tokyo Luxury Retail Market 5 Luxury Retail Stores by Country of Origin OMOTESANDO 6 Luxury Retail Stores by Category 9 10 12 14 France GINZA 3 The Asia Pacific Luxury Retail Market 7 8 Italy 7 Market Outlook Ginza / Omotesando / Shinsaibashi 8 GINZA High-street shops with newly opened or relocated 9 OMOTESANDO High-street shops with newly opened or relocated 10 SHINSAIBASHI High-street shops with newly opened or relocated SHINSAIBASHI 3.4% 3 Japan’ s Rising Tide Luxury Retailers Sailing in 1 Development of Luxury Market in Japan nineteenth century. Examples include Hermes, founded in 1837, Louis Vuitton, founded in 1854, and Burberry, founded in 1856. The twentieth century saw the birth of so-called "new luxury" brands that were relatively inexpensive compared to traditional luxury goods, especially in America. These are brands that provide the kind of quality and taste that are very attractive to consumers, but are relatively inexpensive. Whereas traditional luxury brands would raise the value of their products by limiting the quantity available and so giving them a rarity value, what makes new luxury goods different is that the quantity available and the volume of sales is higher. The birth of the luxury brand is said to have occurred in 18th century Europe. In France, which had become more democratic since the French Revolution in 1789, it became harder for the aristocracy and other wealthy families to have their usual craftspeople make luxury items. Meanwhile, a new class of wealthy entrepreneurs, financiers and others emerged and began to demand symbolic possessions to display their status. The manufacturing by craftsmen of goods that matched the values of this new wealthy class have been the origin of the luxury goods industry, and many venerable luxury brands were established in the UK 6 €4.6B 7 -7% China 3 €16.1B -1% Italy €15.3B 3% 8 5 4% France South Korea €15.0B -1% 10 Middle East €6.7B 6% €9.1B 4% 2 Hong Kong €18.0B 10% €7.9B 3% 9 Japan Note:* Market size is in Euros; growth is y-o-y growth in local currency terms * The basket of luxury goods is not the same as the luxury brands discussed below Figure 1 4 2 The Global Luxury Retail Market In 2014 the global luxury retail market grew by 5.0% year-over-year to €223 billion, according to Bain & Company, which described the sector as seeing“slower, but steadier”growth over the year. Japan was ranked the second largest luxury retail market globally and grew by 10% y-o-y in local currency terms in 2014, making it the fastest growing luxury retail market in the world (Figure 1). Other major luxury retail markets in Asia Pacific include China (5th), South Korea (8th) and Hong Kong (9th). 3 The Asia Pacific Luxury Retail Market The penetration of luxury brands (the ratio of the number of brands that have stores in each market to the total number of brands categorised as luxury) in Asia Pacific is highest in China, at 89%, followed by Hong Kong at 82% and Japan at 78% (Figure 2). Although the number of luxury retailers operating in Russia 11 €13.3B Germany 4% €10.3B 4 It was only in the 1960s that luxury brands entered the Japanese market in earnest. Japanese importers grew throughout the country after they began selling overseas brands under licence, and in the 1980s, when there was a boom in luxury brands, overseas brands began to set up Japanese subsidiaries to enter the Japanese market directly. Then from the late 1990s to the 2000s brands began aggressively opening boutiques on high streets in order to improve their image. This was when there began to be areas with clusters of luxury brands, especially in Tokyo's Ginza or Omotesando and in Shinsaibashi in Osaka. In Ginza, there was an explosion of brand boutiques on Chuo Dori and Harumi Dori kicked off by the financial crisis in the late 1990s, taking advantage of a series of closures of ground-floor bank branches. At the same time, a similar phenomenon was seen in Shinsaibashi, mainly to the north along Midosuji. In Omotesando, the opening of Gucci's flagship store on the avenue itself in 1999 launched a boom in boutique openings. Major Global Luxury Retail Markets Source:Bain & Company, 2014 1 USA €64.9B 5% Figure 1 Major Global Luxury Retail Markets Rank Country Market size in 2014 Growth 1 2 3 4 5 6 7 8 9 10 11 USA Japan Italy France China UK Germany South Korea Hong Kong Middle East Russia €64.9B €18.0B €16.1B €15.3B €15.0B €13.3B €10.3B €9.1B €7.9B €6.7B €4.6B 5% 10% −1% 3% −1% 4% 4% 4% 3% 6% −7% (y-o-y) ●Source:Bain & Company, 2014 Note:* The basket of luxury goods is not the same as the luxury brands discussed below 5 Japan is fewer than in China or Hong Kong, the Japan market is larger with greater sales per brand. 2008, and fell again after the Tohoku earthquake in 2011, a big fall in new openings was only recorded in 2009 and 2012, after which the market recovered relatively swiftly. Recently, the number of store openings has been increasing again, with a record number of stores opened in 2014. The number of projected new store openings for 2015 includes the total scheduled to open by the end of the year that were known as of March 31. However, there could be additional new openings, meaning that 2015 could potentially be a record year for new luxury retail openings in Tokyo. 4 The Tokyo Luxury Retail Market The number of new luxury retail openings in Ginza, Omotesando and Shinsaibashi – the three main luxury retail areas of Tokyo – has increased steadily over the past 25 years. The first brands to enter the market included Brooks Brothers, which opened a store on Aoyama Dori in Omotesando in 1979, followed by Louis Vuitton, which opened on Namiki Dori in Ginza in 1981. However, rising land prices and rents caused by the bubble economy in subsequent years, combined with the lack of space in core locations, meant it was further ten years before the next major luxury opening, by Cartier on Namiki Dori, in 1991. Japan China 89% India 54% S.Korea 69% 78% Hong Kong Taiwan Thailand % % 82 65% Vietnam 46% 74 65% Luxury retailers from Italy and France accounted for the first and second highest number of stores in the three districts (Figure 4). Switzerland followed in third place. Italian luxury retailers accounted for the largest proportion of stores in Ginza and Shinsaibashi. However, in Omotesando the number of stores operated by luxury retailers from France was slightly higher (Figure 5). The proportion of stores from Swiss retailers was far lower in Omotesando than in the other two areas but the proportion from the US was much higher. The relatively low penetration of Swiss retailers Since 1996 there have been new stores opening every year, with particularly strong growth in the number of new store openings witnessed since 2002. At the peak of the market in 2006-2007, many luxury retailers leased new stores at comparatively high rents. Although the number of store openings subsequently declined following the onset of the global financial crisis in Singapore Malaysia 5 Luxury Retail Stores by Country of Origin 76% Indonesia 61% Figure 3 New Luxury Retail Openings in Ginza, Omotesando and Shinsaibashi Source:CBRE, 2015 13 Australia 48% 12 SHINSAIBASHI 12 3 OMOTESANDO GINZA 11 1010 10 9 《Reference》 USA 71% (NY) 《Reference》 UK 89% (London) 《Reference》 26% France 71% (Paris) 7 6 5 Number of Openings New Zealand 6 2 1 1 1 1 1 1 2 2 2 1 1 1 1 2 2 4 4 3 3 2 3 6 3 2 1 1 3 1 1 6 1 4 2 6 8 3 5 1 4 4 3 4 4 4 3 2 1 1 1 2 1 19 7 19 9 80 19 81 19 82 19 8 19 3 8 19 4 8 19 5 86 19 8 19 7 88 19 8 19 9 90 19 9 19 1 92 19 9 19 3 9 19 4 95 19 96 19 97 19 9 19 8 9 20 9 00 20 0 20 1 02 20 0 20 3 04 20 0 20 5 06 20 0 20 7 08 20 09 20 10 20 11 20 12 20 13 20 14 20 15 Market Penetration of Luxury Brands in Asia Pacific Source : CBRE, 2015 1 2 5 3 1 1 Figure 2 5 3 1 2 6 9 2 3 7 4 2 9 4 5 9 8 1 3 Note:* Brands that opened stores but have now closed them are not included. Relocations within the same area are counted as store openings. 7 in Omotesando could be explained by the fact that many retailers from this country operating in Japan are expensive watch brands. Most shoppers in Omotesando tend to be from a younger demographic than those in Ginza and therefore have less disposable income and different shopping preferences. Shoppers in Omotesando are fashion-conscious and willing to try new things, which could also explain the relatively high proportion of luxury retailers from the United States operating stores in this area. and others that were hard to categorise by price alone. The study found that Ginza hosts a sizable number of top brands that sell particularly expensive products, even by luxury standards. Omotesando is a preferred location for emerging brands and designer brands, as shoppers which frequent this district are relatively young and the area has cultivated a reputation as a fashionable location. Shinsaibashi attracts a broad cross section of shoppers and is a hub for well-known brands, but has yet to attract any emerging brands. It is clear, therefore, that each area has its own distinct and statistically verifiable profile. 6 Luxury Retail Stores by Category CBRE Research divided luxury brands into four categories (high-end, mainstream, affordable and bridge) and examined the ratio of stores in each area by category (Figure 6). This categorisation was mainly based on price bracket and product range. The "bridge" category included designer labels, emerging brands Figure 4 22 14 9 4 4 K Germany 1 1 1 Country of Origin 5 10 15 20 25 Proportion of Luxury Stores in Ginza, Omotesando and Shinsaibashi by Retailer Country of Origin Source : CBRE, 2015. Italy France Switzerland USA 35.2% GINZA UK Germany 5.6% 1.9% 27.8% 22.2% 7.4% 3.4% 27.6% OMOTESANDO 31.0% 20.7% 10.3% 6.9% 3.4% 3.4% 34.5% SHINSAIBASHI 0% 8 14% TOTAL 18% 10 % 25% 17% 59% 20 % 30 % 40 % 50 % 6% 13% 69% 17% 60 % 70 % 80 % 90 % 6% 100 % Category Image High-end The most exclusive luxury brands; very few store openings Mainstream Well-known major luxury brands; plenty of store openings Affordable Comparatively affordable luxury brands; currently increasing store opening programmes Bridge Luxury brands with a strong designer element; mostly emerging brands, usually with only one store in Japan Ginza 2 Spain Figure 5 SHINSAIBASHI 12% 50% However, there is a severe shortage of space in core locations of Ginza, Omotesando and Shinsaibashi, a trend that could inhibit market entry or expansion by luxury brands, which are particularly choosy about where they open stores. 17 U S A Japan 13% 60% Number of Luxury Stores in Ginza, Omotesando and Shinsaibashi by Country of Origin Source : CBRE, 2015. Switzerland South Africa 23% OMOTESANDO The luxury retail market will continue to record strong growth this year, with 2015 expected to see several new luxury retailers opening their first stores in Tokyo. France Belgium Proportion of Luxury Retail Stores in Ginza, Omotesando and Shinsaibashi by Category Source : CBRE, 2015 GINZA 0% 7 Market Outlook I t a l y U Figure 6 10 % 20 % 27.6% 30 % 40 % 50 % 17.2% 60 % 70 % 13.8% 80 % 90 % 100 % Ginza is currently home to a number of stores operated by established high-end brands. Many luxury retailers view it as the preferred location to set up flagship stores because it is a shopping area for the wealthy and it is easy to promote sales to regular customers. Retailers tend to stay in the same location once they have opened a store here. Two new major retail developments are slated for completion in the next couple of years, on Harumi Dori and Chuo Dori. Luxury brands which have yet to open stores in Ginza are likely to seek space in these new developments. The area is reporting strong demand from several luxury watch and jewellery brands looking for opportunities to open their first Japanese stores. Ginza should therefore retain its status as one of the key locations for luxury brands in Tokyo in the coming years. Omotesando Recent years have seen several relatively new luxury retailers open stores in Omotesando. These brands intend to make use of the area's reputation as a hotspot for trendsetters in order to increase consumer awareness and establish a foothold in the Japanese market. Shoppers in the area are younger than in Ginza and the district’s cluster of fashionable brands appeal to emerging luxury retailers with a strong designer element. Over the remainder of the year, there will likely be new store openings from brands that are new to Japan and from luxury apparel retailers, mostly through churn in shopping mall tenants. The area is also likely to see brands with stores in secondary areas moving to better locations and the opening of new stores on Miyuki Dori, which has attracted a considerable number of luxury retailers in recent years. Shinsaibashi Shinsaibashi has attracted a large number of luxury retailers in the mainstream category, which cater to the wide variety of shoppers that visit the area. Some brands have opened large stores in the area in order to raise their profile among shoppers but this trend appears to have come to an end in recent years. Most store openings nowadays are designed to boost profitability and include the relocation of existing stores. Many new stores are likely to target the rising number of overseas visitors to Japan. New brands are expected to open stores to the south of the junction of Midosuji and Suomachi, which has emerged as a popular area for luxury retailers. Luxury brands are also likely to relocate or open new stores to coincide with the rebuilding of the Daimaru Shinsaibashi Main Building. 9 chi Lin e Sotobori- dori 5 0. 01 g( CH E) 6. •2 rm He 6• ) •2 00 1. ) a( ITA ar 9 xM 0. ar op Ch •2 Ginza Yanagi- dori ) (IT A 0㎡ 90 eta Ve n ga 4• tte 7. Bo 00 •2 ry er ) s( ZAF ) 8. 3 ee r De B 00 •2 er ) ar ti (C (IT A iu .1 (IT 1• A ) 43 0 01 1 M •2 iu M •2 Erm 5. 3 ㎡ gil •2 na do Ze g n Du Re b A) H L 00 el 4. (FR 12 A ) k Ch an Chuo - dori ton ’s ma 99 in sh op A) y 6 (US Ti •1 ffa n Bu ㎡ .1 lga 1• ri 94 (IT 0 A 00 7 M MELSA KIRARITO GINZA ing Ha rry W ins •2 (FR A ) ) •2 ui Lo MATSUYA 00 s V 0. uit 11 ton MITSUKOSHI ) ka n -h on ra gO ku uil din •2 arr 01 y W 5 i Ch .3• nsto 27 n •2 au 0㎡ (U 00 me SA ) 2. t ( 9 FR m Tokyo Metro Ginza Line Ginza-itchome Sta. ) rti er (F 4 RA 4. Ca 01 •2 Ginza Gastou- dori •2 Prada's flagship store opened on 12 October 2013 on Chuo Dori in Ginza 5-chome. It relocated after its existing boutique in dori AzumaGinza 6-chome closed. The store has a total area of 1,000㎡ on three floors. 4 rb 3 a (I TA ar xM •2 in 01 3. 5 (FR A ) sh op La •2 •2 ni 01 th ( 2. CH 9• E ) 65 ㎡ Ze nv ain to’ sm mo gM iki din uil The first directly-managed boutique in Japan for Vacheron Constantin, the oldest luxury watchmaker in the world, founded nearly 260 years ago. The store, which is on Chuo Dori, is arranged over two floors, of which the first is the boutique and the second is reserved for VIPs. Floorspace is just over 140㎡. It opened on 9 December 2014. GINZA Velvia-kan J Re b The flagship store of the Paris fashion brand established in 1895. The directly-managed store on Ginza Namiki Dori, which opened in April 2007, relocated to larger premises in November 2013. 5. 00 Ma •2 Tokyo Metro Hibiya Line Harumi-dori ) (FR A 10 4. 00 G Prada 0. Bu •2 01 Matsuya- dori ) 11 (IT A cci 00 Gu 6. ) i( ITA D •2 io r (IT A Ginza Sta. 01 3. 1 P •2 rad a F Vacheron Constantin ZOE GINZA K GINZA CORE E Berluti Ginza Marronnier- dori R) (G B 11 ili 4. 00 Em Ginza Sta. •2 2. 00 •2 an A 11 rm gio or 7. Gi 00 •2 ) 0• 1, 00 0㎡ ) 12 kim Mi 00 •2 ) (IT A ㎡ ci •1 oP uc h( U 32 0㎡ SA ) 5• Co 50 ac A) (U S ch ur 12 00 9. To •2 ry B mi H I G 5. ) oto d( CH E) (JP N ) 00 •2 n( FRA ro he 11 01 2. uc Bo •2 ) (FR A er 1 99 ㎡ an WAKO San-ai Chuo - dori 10 Ma •2 rti Ca •1 01 •2 Miyuki- dori kojunsha- dori PRINTEMPS GINZA ANNEX 7. a( ITA an bb 0㎡ 00 Do 6. lce 4• & 58 Ga 3㎡ ( 00 FRA ) •4 11 Sö e& ng 10 8. •2 A. 00 La uti B 3. erl hn .1 1 e( DE U) ) 0㎡ Fre 00 •2 6. Om •1 d( 1 FRA E) (CH •7 e 99 ga 11 NEW MELSA •2 B •2 reg 00 ue 7. t (F 5 RA for Harry Winston's Ginza store on Chuo Dori in Ginza 3-chome. h ) n( FRA E) t( CH 9 ge •1 99 Pia ns ta nti 5. i ( n( 8 ITA CH ) Va E) •2 n 00 Cle 5. ef 6 & Ar pe ls (IT A) Sa •2 lva 00 to 3. re 5 Fe rra ga mo (IT A) Kojun Bldg. 01 V PRINTEMPS GINZA Namiki- dori uti ou 10 0. 01 •2 Ch ris tia nL Nishi Goban-gai Will be opening in fall 2015 10 24 ) 2• o( ITA 0. •2 00 Etr E) 0㎡ •2 •2 01 Hu IW blo •4 t 1. (CH 6 4 P) •2 m 00 ian C ( 8.3 i (IT 01 CH A) 4. E ) 4 Lo ew e 7. (ES Da E D •2 ach 01 ero 4 n Da .12 Co Mo n 00 t B 6. lan 10 c •4 (CH 39 E ) ㎡ Michael Kors F •2 Hanatsubaki-dori Ba ll Bu 01 y (C 1. HE ) 8 •2 .1 2 rb e rry (G BR ) d o ri 00 0 Namiki- dori bo The first boutique in Japan for the Swiss luxury watchmaker, IWC Schaffhausen It faces Namiki Dori and has a store area of 40㎡. It opened on 5 April 2014. •2 C Lo •2 D International Watch Company Gomon- 99 1 r •1 uis 00 ai ( ㎡ IT 98 V A) 1 uit ton (FR A) V •2 ersa 01 ce 5 秋 (I TA ) Ba 8. 00 Of fci ne P 8• ane The Italian luxury brand will open a store in a new development on the site of the Takiyamamachi Building on Kojunsha Dori in Ginza 6-chome, which is scheduled for completion in autumn 2015. The area of the store will be around 396㎡, located on the first to third floors of the four-storey building, on the western side. The eastern side will be occupied by Brunello Cucinelli. •1 Pia n 11 a ( • l ITA Ro 201 mai ) n •2 le 1 00 x (C .9 (FR A) 5. HE 7 ) ro 3. Lo 01 •2 B C Versace m The temporary replacement of the old Cartier Ginza k 2-chome boutique is being rebuilt, with completion in 2016. Completion is scheduled for 31 August 2016. The first directly-managed boutique in Japan for the 150 year-old Swiss luxury watchmaker. This is the fifth directly-managed store, after Geneva, Hong Kong, Shanghai and Wuhan. The store is on Chuo Dori in Ginza 4-chome and has an area of 65㎡. It opened on 28 September 2012. 1 , es ( 51 FR 0㎡ A ) The largest flagship store in Japan for Loro Piana, the high-class cashmere and wool brand from Italy. It will open in autumn 2014 on the first floor of the Ginza Shiseido building, which was completed on 2 October 2013. k Okura Honkan, location I Zenith 00 Br •2 eit 7 lin Mikimoto Ginza 2 on Namiki Dori B Loro Piana The Ginza store of Harry Winston, the New York-based luxury jewellery brand, on Chuo Dori in Ginza 1-chome closed for refurbishment on 2 March 2015. It is in a temporary store in Ginza 3-chome from 6 March to 30 September. The refurbished Ginza store is due to m open in the autumn. Due to the rebuilding of the Okura Honkan building on Chuo Dori, Cartier's Ginza 2-chome boutique reopened in a new location on Marron-MARRONNIER nier Dori on 5 April 2014. GATE h Mikimoto's main store at Ginza 2-chome and SONY- dori ob M Harry Winston r 00 hill 7. (G 12 BR ) Br SONY Bldg. •2 15 5• 4. 01 Au de ma r sP igu 6 ㎡ et The Ginza boutique for the Swiss luxury watchmaker founded in 1875. It is on Sotobori Dori in Ginza 6-chome and has an area of 156㎡. It opened on 16 May 2014. ion (CH E) A Audemars Piguet i( ITA ) A Sot K Cartier do ori- ri ou L Ermenegildo Zegna The largest Global Concept Store in Asia for Ermenegildo Zegna, the Italian men's luxury brand. The store is on Chuo Dori in Ginza 2-chome and has a total area of 1,000㎡ on four floors. It opened on 2 March 2015. ra - d o G in za Sa ku run J Lanvin The Asian flagship store for the venerable Paris fashion brand established in 1889. After opening on Chuo Dori in 2004, Lanvin relocated to Ginza 4-chome to become a ay flagship store, the only one in eJapan s s w to offer the full r range of men's, women'sEand x p kids clothing. It consists of three floors in k the y oSeishokan Building, the first two o T floors and the basement. i Tokyo Metro Yurakucho Line Ma The internationally renowned Japanese jeweller's main store at Ginza 4-chome is being rebuilt. It closed on 15 January 2015 and relocated to a temporary main store, Mikimoto Ginza 2. The former main Gi store that is being rebuilt was nza Sta completed in 1974. The grand h . opening of the new main store is scheduled for March 2017. It will be in a new head office building comprising twelve floors above ground and two basement floors, with a store area two-and-a-half times the size of its current store. 01 ene tro ish GINZA High-street shops with newly opened or relocated H Mikimoto Me rb yo Re fu Tok 00 8 Luxury map 11 Killer-Dori I Christian Louboutin Aoyama-Dori A) s( US er oth Br Saint Laurent currently has a store in Omotesando Hills as well as its Saint Laurent Jingumae Gallery, which is open for a limited period only, but it plans to open a new store on the site of the Benetton Megastore. The opening date has not been announced, but the hoardings around the site currently have the brand name prominently displayed. ) (FR A ub o Lo ian 12 ist Ch r 01 (FR A ) 6 er R) 1 6. A) (U S Ca 72 co Ja 12 •2 01 0. rc Ma •1 bs .7 Mc 4 lla 5. Ste 01 G Balenciaga The first Japanese flagship store for the fashion brand established in 1914. It is arranged over two floors, with 206.12㎡ of floorspace on the first floor and 178.58㎡ on the second floor, selling a full line of women's and men's clothing, as well as bags, shoes and accessories. It opened on 29 March 2014. 2 9. Jil •1 Ma ra (IT A) L p sh o a’s Kotto-Dori Ma r Pa te 01 k P 0. hil 8 lip e( CH E ) M •2 gM ax hin Tokyo Metro Hanzomon Line Tokyo Metro Ginza Line The first Japanese flagship store for the French fashion brand established in 1952. The store is located in the LVMH Group's office and fashion building, ONE Omotesando. It has 392㎡ of space over three floors, with the first floor selling accessories, the second floor women's clothing, and the basement men's clothing. It opened on 16 May 2014. 4 F Givenchy SPIRAL l Ao Ma x A boutique belonging to the German menswear brand. The store has 336 ㎡ of space in total, with menswear from the Hugo label in the basement, its main line, Boss on the first and second floors and a VIP room on the third floor. It opened on 29 November 2013. 99 E Hugo Boss Sa nd er (D E U) •2 01 •2 B Ale •2 alen 01 ci xa 4. ag n 3• a 4. der 38 (FR 6• M 5㎡ A ) 39 cQ 0㎡ ue en (GB R) cci 9 Gu 99 •1 ㎡ ( 63 USA ) .4 •4 01 Co 3 a •2 R) (G B ry er 11 rb 4. •2 01 Bu ch ) (FR A 8 ton Vu it 9 uis 2. Lo 00 •2 (IT A ) ) ni sso •1 99 Mi 5㎡ rtn ey G H oak omotesando 00 •2 Ch loé •2 (FR A ) 00 5 rti 00 3. P •2 rad a (IT A ) ) (IT A iu 3 uM Miyuki-Dori K (GB •2 5. Mi 01 •2 ㎡ U 36 ) (D E er •3 nd 11 Sa 3. 01 Jil •2 C •2 elin Gi 003 e (F RA ) •2 ve 01 nch 4. y ( Lo 5• FR •2 ew 39 A ) 00 e ( 2㎡ 4. ES 9 P) ㎡ 50 12 •7 ( 4. ITA ) 00 To •2 d’s 3. ) ded eci nd E (IT A 00 t( FRA en ur La int Sa •U •2 A) (U S ton ins 2 6. rry Ha •2 uti n •1 A) 0㎡ Ko r 12 el 8• ch a •2 0㎡ ) •9 (FR A 10 or Di 01 4. Ga & 2 lce 6. Do 00 •2 W Cat Street 0. Mi 01 ) a( ITA bb eta Ve n ga 2 tte 6. Bo 00 •2 ) (FR A 3. or •2 00 Di 12 ) (FR A el 11 7. 00 Ch an (B 0㎡ EL ) ux 23 lva 8• 01 4. De 9 oo ks D Saint Laurent GYRE J Omotesando Sta. 99 rbi s The famous British brand has relocated its Omotesando store to larger premises. The new store sells the largest selection in Japan of the company's imported collection and is arranged over four floors, including a basement. It stocks a wide range of items, including trench coats, which are the brand's most famous item. It opened on 28 November 2014. C I F Re fu C Burberry D •1 Dior's first specialist perfume and beauty boutique in Japan. It sells all of Dior's product lines, from fragrances to make-up and skincare. It also houses the Dior Institute treatment rooms. It opened on 9 October 2014. an (U (IT A ) 0㎡ SA ) en 20 ur 2, La 3• lph 6. 00 •2 Ra B Dior (in Omotesando Hills) B Omotesando A •2 The first Japanese flagship store for the world's oldest luxury leather goods company, which was founded in Brussels in 1829. With 230㎡ of floorspace, the store has the company's widest selection of products in Asia, including women's handbags and leather accessories, as well as a men's line, which is coming to Japan for the first time. It opened on 30 August 2014. The brand launched by the British fashion designer Stella McCartney, daughter of Paul McCartney. The Aoyama store, which opened in 2008 as its first boutique in Japan, has relocated to Miyuki Dori. It opened in April 2014. s( US OMOTESANDO HILLS Tokyo Metro Chiyoda Line A Delvaux 12 K Stella McCartney 97 Br Cat Street TOKYU PLAZA OMOTESANDO HARAJUKU •2 Meiji-jingumae(Harajuku)Sta. The sister brand of Prada that sells only ladies wear has moved. The new flagship store was designed by the architecture firm Herzog & de Meuron, which also designed the Prada Aoyama store. The store consists of two floors and offers a space that feels like a relaxed, comfortable mansion. It opened on 28 March 2015. A flagship store for the French luxury footwear brand. This is its seventh outlet in Japan and the second stand-alone store, after the Ginza store, which opened in 2010. It sells men's and women's shoes, bags and leather goods. It opened on 3 December 2013. Meiji-Dori Tokyo Metro Fukutoshin Line Laforet HARAJUKU J Miu Miu The first flagship store in Japan for the London-based fashion label. The store has 390㎡ of floorspace arranged over two floors, with the first floor selling mostly bags, shoes and other accessories, and the second floor mostly men's and ladies' clothing. It opened on 8 June 2014. Ca OMOTESANDO High-street shops with newly opened or relocated GaiemmaeMcQueen Sta. H Alexander Tokyo Metro Chiyoda Line 9 Luxury map L Max Mara M Patek Philippe An Italian fashion brand established in 1951. Its Aoyama store, at the corner of Aoyama Dori and Kotto Dori, is closing for refurbishment. A temporary store is open until 6 September 2015 in the nearby Ao shopping centre. The Swiss luxury watch brand's only dedicated store in Japan has been refurbished as its third "boutique" in the world, after Milan and Frankfurt, meeting the strict standards set by Patek Philippe & Co. The store has 165㎡ of floorspace. It opened on 2 August 2010. 13 10 Luxury map •2 01 Br 3. eit 2 lin g( CH E) Subway Nagahori Tsurumi-ryokuchi Line SHINSAIBASHI High-street shops with newly opened or relocated R) ) a( ITA G H 1, 00 0㎡ an lce 7. Do •2 00 •2 9• & 7• Ga 1, bb 10 ) •5 (IT A da 4. Pr a 3. Bo 01 •2 0㎡ 00 10 ss ( D ㎡ EU ) (G B ry er 3 rb 5. 01 Bu 6㎡ •2 Hu eg 4• en 4. Erm 01 ) (IT A eta (IT A Mitsudera Temple M i d o - s u j i Ve n 4 iu 11 ga tte Bo 0. To r 01 SHINSAIBASHI OPA •2 hotel nikko osaka yB ur c 8 h( U SA ) •2 00 9. uM F Subway Midosuji Line (IT A ) ) E 0. Mi 01 •2 41 ild oZ •2 00 5. an Tif f 1 01 y( US A) DAIMARU South Building 9 i( 5. ITA ) Fe 00 nd 4. •2 Shinsaibashi Sta. •2 Bo u 01 che 1 ro Ma .1 n (F RA ) •1 x 99 Ma 8 ra (IT A) E) Ro lex ( 5 CH 00 •2 na eg ) t 12 (FR A me •2 00 au Ch Shinsaibashi Sta. DAIMARU Main Building •2 ) (FR A 4• or 5. •2 00 Di 84 ) (FR A el an 6 Ch •1 99 ) (FR A ton Vu it uis 8 Lo 99 •1 er rti 0. 00 •2 Ca 4 (FR A ) E) a( CH 11 eg 6. Om 00 •2 M i d o - s u j i DAIMARU North Building 0㎡ •2 01 .2 Gu cci ( 5 ITA ) D go Shinsaibashi-suji ) (IT A ni ma Ar gio or 9 Gi 99 •2 •2 •1 01 Hu blo 4㎡ t 5 (C Ha .5•1 HE ) rry 80 00 W ㎡ 7. in 4• st 67 on 1㎡ (U SA ) H •2 erm 00 es 7. (F 4• RA 83 ) E) (CH er ull kM nc 3 Fra 00 •2 A Europe-Dori B Hearton Hotel Hublot is a luxury watch manufacturer founded in 1979 in Nyon, Switzerland. It plans to open a store in Shinsaibashi, its second directly-managed boutique in Japan after the Hublot Boutique Ginza, which opened in 2011. Nagahori-dori The Swiss luxury watchmaker's flagship store has relocated to larger premises. This is the only "Breitling Boutique" in Western Japan, with all floors dedicated to Breitling, and uses the same concept and services as Breitling boutiques worldwide. It opened on 22 February 2013. C Officine Panerai The third boutique in Japan for the Italian luxury watch brand, Officine Panerai, after Ginza and Nagoya. It has 146㎡ of floorspace and an Italian design with a marine theme. The second floor is a completely private VIP room. It opened in February 2014. (No information online, so needs to be checked.) 14 D Gucci The Italian fashion label has relocated its store to a larger, refurbished space on the first floor of its existing building, Daimaru North Building. The store has 356.74㎡ of floorspace, bringing together its women's and accessories stores, and will also sell men's items. It opened on 14 February 2015. ) (IT A BIGSTEP ㎡ Of B Breitling •2 fci 01 ne 4. Pa 2• ne 14 ra 6 i B •2 erlu 00 ti 3. (FR 11 A ) •1 9 Ma r c 99 Jac ob s( US A) SHINSAIBASHI OPA Kirei-kan C Amerika-mura A Hublot E Ermenegildo Zegna A Global Concept Store for Ermenegildo Zegna, the Italian men's fashion brand based in Milan. The store has 416㎡ of floorspace over three floors and is designed by the renowned architect, Peter Marino. It opened on 30 April 2014. F Burberry This boutique is the British fashion label's fifth store in Japan. It has one of the largest floorspaces in Japan, spread over two floors, selling a full range of both men's and women's items imported from the UK. This is Burberry's first Osaka store and offers all of the company's collections. It opened on 8 March 2015. G Hugo Boss This is the largest boutique in Japan for the German fashion label, which is best known for menswear. It has around 500㎡ of floorspace arranged over two floors and has a wide range of products under one roof, including men's and women's fashion under the core brand, BOSS, the sportswear brand, BOSS Green, and fragrances. It opened on 31 October 2014. H Prada The Italian fashion label's first Osaka flagship store. The store, which was designed by Italian architect Roberto Baciocchi and has around 1,100㎡ of floorspace on five floors, stocks both men's and ladies' collections, including bags, clothing, shoes and sunglasses. It opened on 13 July 2013. 15