In the first quarter of 2019, the fashion sector recorded a 6% increase in sales to foreigners, compared to the previous year, and a average receipt value of €791 for clothing and leather goods expenses.
This is the photograph of the first months of 2019 taken by Fashion & High Street Report 2019 di Italian Fashion Federation with World CapitalIn partnership with Nexi, Global Blue and Chamber of Commerce Purchasing Observatory Milano.
According to data from Global Blue for the Italian Fashion Federation, Chinese tourists are the biggest consumers of Made in Italy products (29%), followed by Russians (14%), Americans (7%), Koreans (5%), Swiss (5%), tourists from the Gulf countries (4%), Japan (4%), Hong Kong (3%), Taiwan (3%), Ukraine (3%) and finally 23% of other nationalities.
Focusing on the performance of individual leading cities, è Milano to record the highest percentage of tax-free purchases with 38% of total sales. Always in the Lombard capital we note encouraging signs also for retail real estate values, with rising rents.
This is especially true for highly appealing locations such as Via Montenapoleone, High Street increasingly courted by national and international brands, which reaches a prime rent of €12.000/m2/year.
Focusing on the most luxurious Milanese High Street, The latest analysis by World Capital has shown that 47,4% of boutiques belong to the clothing sector; almost half of the various product categories surveyed (footwear and leather goods, jewellery, catering, perfumery and cosmetics, other).
While Along the longest Italian High Street, Corso Buenos Aires with its 1.600 metres, 30,7% of the stores are clothing stores., followed by footwear and leather goods (17,1%).
“Despite the boost provided by e-commerce, High Street boutiques continue to perform well. - declares Andrea Faini, CEO of World Capital – Lovers of Made in Italy, mostly international, come to our country not only to buy a product, but above all to live an experience. Precisely for this reason, historic shop windows like those along Via Montenapoleone in Milano, continue to be high-performing real estate products, where, not surprisingly, the vacancy value is equal to zero. "