Luxury shopping received its first international marketplace. Milan’s Via Monte Napoleone earned the title of the world’s most expensive shopping street when it surpassed New York’s Fifth Avenue in 2024. The renowned fashion street Quadrilatero della Moda in Milan holds the distinction of becoming the top marketplace for exclusive high-end retail, according to Cushman & Wakefield reports. The street enables shoppers to experience premium shopping through its renowned flagship locations that host Gucci and Prada, along with Louis Vuitton, Chanel, and Dolce & Gabbana. Elite shoppers find a true haven browsing fashion at Via Monte Napoleone, where they discover exclusive jewelry boutiques and masterful Italian shoemakers.
Milan’s Via Monte Napoleone Is The World’s Most Expensive Shopping Street
A new ranking confirms that Milan’s Via Monte Napoleone has become the planet’s costliest shopping destination, surpassing New York’s Fifth Avenue, London’s New Bond Street, and Paris’s Champs-Élysées. For 34 years, European cities have failed to secure this position, but now Milan’s Via Monte Napoleone has become history’s champion. Through its 350-meter stretch, this exclusive street represents both the fantasy of fashion enthusiasts and historic architectural splendor. Luxury living comes at a high cost, reflected in its retail rent rates, which are among the highest worldwide.
Rs 2 Lakh Average Shopper Expense
The average shopping expense for Via Monte Napoleone visitors amounts to Rs 2 lakh per shop. Luxury tourists consider Milan their prime destination because it attracts wealthy visitors from across the globe who travel to the city to indulge in high-end shopping. Fashion Week and Design Week events establish Milan as a global fashion center, enhancing its reputation as an international luxury and style hub.
Attractive tax benefits have drawn many high-net-worth individuals to settle in Milan, increasing the appeal of luxury brands. As the world’s most prestigious shopping street, Via Monte Napoleone now attracts top international labels that seek opportunities to open stores there.
Sky-High Rents And Property Prices
Owning a business at this location requires significant financial resources because rent reaches $2,047 (Rs 1.7 lakh) per square meter, which is one of the highest rental rates worldwide. Property values in this limited-space market keep rising because demand continues to increase.
In early 2024, Kering, the parent company of Gucci, made headlines through its acquisition of an exclusive property located on Via Monte Napoleone. Gucci’s significant property acquisition strengthens the street’s position as the most exclusive shopping destination in the world.
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