While Australian retailers of premium technology products, once considered ‘luxury’,  drive their prices and labels downmarket, high-end brands which have protected their prestigious auras remain virtually unscathed by the severe retail downturn.

Now these brands, including Louis Vuitton are about to eat further into the profits of CE retailers with aspirational stores and personalised service (that women love) right in the heart of Sydney.

This week the French fashion house opened its latest store on George St, Sydney. It is positioned on the corner opposite the Apple store which is also a magnet for women, and is quickly becoming a city landmark .

Louis Vuitton understands that there is a growing demographic of elite Australian women who not only aspire to luxury products, but have the financial smarts to afford it on their terms. And they will flock to stores which have this on offer.

Louis Vuitton is not the first aspirational brand  to increase its investment in Sydney CBD retail real estate. Gucci is also preparing to open a megastore in Sydney’s Westfield with an extravagent party next week and Chanel and Prada are also opening new luxury stores.

2012 will also see the launch of Christian Dior’s first standalone Australian store, which will open on the former Louis Vuitton boutique site on the corner of Castlereagh St.

Badged ‘Louis Vuitton George Street Maison’, the new store is believed to have cost almost $10 million. It features three-storeys of women’s and men’s fashion as well as personalised services. Cate Blanchett is rumoured to be attending an exclusive VIP event tonight to celebrate the launch.

Louis Vuitton Oceania CEO Philip Corne told the media this week that the new development had been a long time coming for the brand, which now has 10 stores in Australia.

“We wouldn’t commit to the investment until we found the right space that allowed us to present the brand as we should,” he said.

Now would be a great time for CE retailers to review their strategy to attracting women into their stores by studying how these luxury retailers create an environment which feels inviting, safe and meets a woman’s need to make the world a better place.

This entry was posted on Friday, December 2nd, 2011 at 10:21 am and is filed under My Updates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.