There’s no commercial real estate crash on New York’s Fifth Avenue or the Champs-Élysées in Paris

Luxury brands are racing to buy properties on the world’s most famous shopping streets. 

One reason is the fear that, if they don’t buy their flagship store from the landlord, one of their rivals will do so and send them packing.

Big luxury companies have spent more than $9 billion on real estate since the start of 2023.

Wall Street Journal 6 april 2024

At €200 Billion, Hermes now worth more than twice the valuation of Airbus


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