The semblance of normality that the entry into the yellow zone of many Italian regions gives us does not currently involve the shop windows of the center of large cities. And even if the retail market in Milan and Rome does not stop and the ballet of the spaces is lively, customers still do not flock to the streets.
In the shopping streets – where people try to forget the dark days of the shutters lowered during the last lockdown – the dominant trend records the polarization between luxury streets, increasingly sought after, and areas dedicated to the mass market. In between, the premium range, which is the one most penalized by the closures of recent months. More generally, everything that is not luxury in the strict sense is affected by the consumption crisis, so much so that the demand for spaces languishes and the owners of shop windows located in less attractive locations are willing to discount the rents of 20-30% for the first 2- 3 years of the contract to turn on the lights of their shops.
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An ever clearer distinction between luxury and mass market
«There are routes that over the years have seen a low turnover of brands – says Eugenio Amato, founder of Edares -. Here the pangs of the crisis were felt. An example is via della Spiga in Milan, perceived by many as the way of accessible luxury, just today that the distinction between luxury and mass market is becoming increasingly clear. However, the road will soon recover: Polo Ralph Lauren opens and Hines is finishing the redevelopment of the building purchased by Thor Equities, which was occupied by the Dolce & Gabbana group ». In the street, however, 17 shops have closed.
Looking for larger spaces
A second trend that has emerged after the various lockdowns is the search in some cases for even larger spaces, resulting in good opportunities. This is the case in Rome of Audemars Piguet, who expanded the store in San Lorenzo in Lucina. The space is more than double the old boutique, but the rent hasn’t doubled. “Temporary spaces are also rented to companies that had never tried it before,” says Andrea Di Cave, partner of Edares. This is the case of Decathlon which opens in via del Corso in Rome, where the staff will sell a selected range of products and will manage the store as a collection point for goods purchased online.
The openings expected in Rome and Milan
Still in luxury, Moncler expands the shop in Piazza di Spagna, which expands with the windows that once belonged to Missoni. Loro Piana renovates in via dei Condotti and opens a temporary in via Borgognona. Still in Piazza di Spagna, according to rumors, Dior would have rented the entire building where the shop is located, previously divided into offices and apartments, and Ermanno Scervino opens his own window. In Rome, the expansions are also linked to the arrival of large luxury hotels that will attract customers ready to go shopping.