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Retail By City

MilanItaly

city rank #19

City Overview

Milan is the premier retail destination in Italy. Via della Spiga, Corso Venezia and Via Monte Napoleone make up the luxury quadrangle, the location of the top brand names and flagship stores. Other important commercial streets are Corso Vittorio Emanuele, Via Dante, Via Torino, and Corso Buenos Aires, where all the major national and international chains are located. Over the past year, the completion of the mixed-use project Porta Nuova has created new retail supply close to the city center, attracting retailers in the luxury, aspirational (Corso Como district) and mid-market segments (Gae Aulenti Square). They include the second Italian store for the new RED concept by Feltrinelli, plus stores for Muji, Sephora, Nike and Costume National. With significant new office workers and residential populations coming as part of this project, Porta Nuova is becoming a new retail market with its own catchment and it is not expected to affect the existing city center retail areas in terms of rents. Milan continues to attract new retailers looking to enter Italian market while existing retailers are repositioning and/or opening new stores in the really prime locations such as Via Monte Napoleone and Corso Vittorio Emanuele which are experiencing a vibrant dynamism in terms of new openings.  In the recent past the redevelopment of existing buildings has allowed the opening of several major flagship stores such as & Other Stories, Michael Kors, Bershka, Sephora and Wycon. The refurbishment of a former Cinema has resulted in a luxury department store of Gruppo Coin branded Excelsior. The first Apple Store in Milan City Centre opened in Piazza Liberty very close to Corso Vittorio Emanuele. Generally, the domestic luxury brands are still active in the domestic market, with the most notable being Prada that strengthened its position in the prestigious location of Galleria Vittorio Emanuele by leasing a further unit (previously occupied by Mc Donald’s). Corso Vittorio Emanuele and Via Monte Napoleone, where opening activity has been strong, have witnessed an increasing rental trend, confirming the widening gap between prime and secondary location. Via Torino confirmed as the main street for young people with mid-level buying power has seen among the latest major openings of H&M, Geox, Pull & Bear, the Zara extension and the new Terranova flagship store. The city boasts a strong retail offering, both in terms of quality and scale. Most significant to the city’s success is Milan’s affluent catchment area of 3 million people, the highest per capita income/spending nationally. Expo 2015 pushed Milan and its surrounding region into a new level through urban redevelopment and revitalisation initiatives. The event contributed to a complete re-branding of the entire city, taking it from a work-intensive metropolis to a more hospitable and welcoming international lifestyle “capital”. With the recent opening of "City Life Shopping District", few new brands entered the Italian market. such as: Huawai, DM Drogerie and Habitat. City life is the latest expample of urban retail, which Pioltello and Bicocca are part of. the main important location for Shopping Center are not far away from the highway (tangenziale). The larger scheme of the region is OrioCenter with 105,000 sq m, located in Bergamo (not far from Milan). Future shopping centre openings include Westfield Milan, the first regional shopping centre situated in Segrate, a dynamic area located 10 km east of Milano city center. This retail scheme will represent a landmark property and a unique modern design, with a total gross leasable area of 150,000 sq m.

Things to do

See

Work

Gap and Coin Excelsior in Corso Vittorio Emanuele, Via Montenapoleone and Via della Spiga,


Rest

Duomo, new Museo del 900, Pinacoteca Ambrosiana, Brera, San Siro Stadium


And be seen

Eat

Lunch: Nobu,Al Consolare,Torre di Pisa, Living; Dinner: Cracco,Gente di Mare,Finger, Radio Bar Melia,


Drink

Armani,Bulgari, 7th floor Obikà Rinascente, Mandarin Oriental


Be Merry

Corso Como, Brera, Via Savona/Tortona area, Porta Ticinese/Conca dei Navigli


Other Cities in Italy

Contact Us

MARCELLO ZANFI

Piazza degli Affari 2
+39 02 997 460 32 | marcello.zanfi@cbre.com