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Global Cities
Retail guide
Cushman & Wakefield 2012/2013
milan
Global Cities
Retail guide
milan
Overview
Milan is both Italy’s financial and fashion centre,
home to several major retail chains and luxury
brands including Giorgio Armani, Gucci, Prada and
Versace. Although not untouched by the current
climate of uncertainty, the retail market in Milan has
held up well, with rents and key money remaining
stable in top locations.
The concentration of luxury brands is in the so called “Quadrilatero della Moda,” represented by Via
Montenapoleone and adjacent streets, featuring approximately 300 top domestic and international brands.
Recognized worldwide, these streets have achieved brand status. Competition among retailers to secure and maintain
a presence in this area has resulted in both exceptionally high rents and key money.
Milan is the province with the largest retail offer of the region of Lombardy, with more than 1 million sqm across 47
schemes and more than 2,000 shops. The density stands at 329 sqm per1,000 inhabitants, above the national averages
(248 sqm per 1,000 inhabitants).
Though there are five (5) large schemes above 40,000 sqm, Milan still lacks super-regional shopping centers (GLA in
excess of 80,000 sqm). However, there are some large scale retail developments in the pipeline, such as the
important Westfield/Percassi project: this new shopping center will occupy a 60-acre site close to Linate airport, just
10 km from the city center. Branded Westfield Milan, the first phase will total 170,000 sqm.
CUSHMAN & WAKEFIELD
Global Cities
Retail guide
milan
Overview
3.3million
The number of inhabitants
comprising the traditional trade
area, 40% of which live within
Milan itself (nearly 1.3 million
inhabitants)
19,000€/year
More than
Consumption per capita in the trade area,
which is approximately 34% above the
national average
5.7million
The number of tourists in the province
of Milan in 2010, representing nearly 11.6
million nights spent, with an average of 2.0
days. Foreign tourists account for 51% of
total arrivals.
CUSHMAN & WAKEFIELD
Global Cities
Retail guide
milan
Key Retail Areas & Streets
Quadrilatero della Moda
The concentration of luxury brands is in the so called “Quadrilatero della Moda”, represented by Via Montenapoleone
and adjacent streets (Via Verri, Via Sant’Andrea, Via della Spiga, Via Manzoni), featuring approximately 300 top domestic and
international brands.
Corso Vittorio Emanuele
Close to the prestigious “Quadrilatero della moda,” Corso Vittorio Emanuele represents the main mid-upper-marketshopping area. Pedestrian-friendly and running 400 meters from Piazza San Babila to Piazza Duomo, it comprises about 50 shops
and is dominated by multiple operators, both national and international (60% and 20% respectively).
Via Torino
Via Torino, another of Milan’s main shopping streets, connects Piazza Duomo with the characteristic Ticinese district along
some 400 meters. It comprises about 100 shops and in recent years the street developed with many shops geared mainly to the
young set and the casual style is sporty.
Via Dante
Via Dante is an important mid-market pedestrian-only retail street connecting two important historic sites, the Duomo and
Castello Sforzesco. There are brands the likes of Sephora, Foot Locker, Aldo Shoes, Celio, Geox, Guess, Petit Bateau, Benetton
and Levi’s.
Corso Buenos Aires
Corso Buenos Aires is Milan’s longest retail street (1.4 km) and is detached from the very centre of the city, connecting Porta
Venezia with Piazzale Loreto; it represents the main communication artery connecting the city centre with the small business and
large scale industrial district to the north of Milan. It includes over 300 shops and is characterized by middle-low range fashion
and very high pedestrian and vehicular traffic.
CUSHMAN & WAKEFIELD
Global Cities
Retail guide
milan
Key Retail Areas & Streets
market overview
Data as of August 2012
KEY AREAS/
STREETS/SHOPPING
CENTERS
CONSUMER
PROFILE
MAJOR RETAILERS
PRESENT
NEW
ENTRANTS
TYPICAL RENT FOR
UNIT OF 200 SQM
(£/SQM/YEAR)*
RANGE OF
UNIT SIZES
(SQM)**
Quadrilatero della
Moda Via Montenapoleone
World famous luxury high street,
features about 80 shops
Louis Vuitton, Polo Ralph Lauren, Dior,
Cartier, Rolex, Mont Blanc, YSL, Hogan,
Bulgari, Armani, Prada, Damiani, Iceberg,
Corneliani, Valentino, Ferragamo, Bottega
Veneta, La Perla, Ermenegildo Zegna, Loro
Piana, Aspesi, Versace, Gucci.
Panerai, Breguet
6,000 - 7,000
(including key money)
50-300
Quadrilatero della
Moda Via Sant’Andrea
Comprises some 30 shops
including top luxury fashion brands
Church’s, Hermès, Missoni, Cesare
Paciotti, Ballantyne, Chanel, C’N’C,
Moschino, Fendi, Trussardi, Antonio
Fusco, Gianfranco Ferrè, Miu Miu
4,000 – 5,000
(including key money)
100-200
Quadrilatero della
Moda Via della Spiga
Comprises some 70 shops with
nearly half of which representing
national fashion brands, whilst
international brands account for
15%.
Chopard, Juicy Couture, Tod’s,
Vilebrequin, Tiffany & Co., Moncler, Stuart
Weizman, Dolce & Gabbana, Bulgari,
Harmont & Blaine, Allegri, Borbonese,
Krizia, Byblos, Malo, Cavalli, Blumarine
Longchamp, Lanvin
4,000 – 5,000
(including key money)
100-200
Quadrilatero della
Moda Via Manzoni
Some 80 shops including top
brands
Kenzo, Wolford, Frey Wille, Paul Smith,
Dirk Bikkemberg, Manila Grace, Armani,
Les Copains, Lori Blu, Moreschi, Gallo,
Coccinelle, Pal Zileri, Patrizia Pepe.
Hackett London,
Twin Set, E-Go’
2,500 - 3,000
(including key money)
150-300
*Please note that rents vary greatly according to the position on the street, the size of the shop, and the internal layout, as well as the number of windows facing the street; therefore rental
values may be much higher than those reported above.
**General indication of the exiting range of unit size.
CUSHMAN & WAKEFIELD
Global Cities
Retail guide
milan
Key Retail Areas & Streets
market overview
Data as of August 2012
KEY AREAS/
STREETS/SHOPPING
CENTERS
CONSUMER
PROFILE
MAJOR RETAILERS
PRESENT
NEW
ENTRANTS
TYPICAL RENT FOR
UNIT OF 200 SQM
(£/SQM/YEAR)*
RANGE OF
UNIT SIZES
(SQM)**
Corso Vittorio
Emanuele
Most important, mass market
shopping pedestrianised street in
Milan. Middle range fashion
Promod, Zara, Furla, H&M, Gap, Banana
Republic, Mango, Bershka, Foot Locker,
Douglas, Max Mara, Moreschi, Pollini,
Sephora, Replay, Stroili, Deisel, Sisley,
Benetton, Disney
Superdry
4,000 – 5,000
(including key money)
800-1,500
Via Torino
One of Milan’s main shopping
streets. In recent years the street
developed with many shops
geared mainly to the young set
and the casual style is sporty
Zara, Bershka, Foot Locker, Promod,
Mango, Pull & Bear, MAC Cosmetics,
Pimkie, FNAC, Bijoux Brigitte, Tally Weijl,
H&M, Carpisa, Yamamay
2,200 – 2,500
(including key money)
200-600
Via Dante
Important pedestrian-only retail
street
Sephora, Foot Locker, Aldo Shoes, Celio,
Geox, Guess, Petit Bateau, Benetton,
Levi’s.
1,700 – 2,300
(including key money)
150-300
Corso Buenos Aires
longest retail street in Milan (1.4
km). Very high pedestrian and
vehicular traffic. Middle-low range
fashion.
Levi’s, Benetton, Adidas, Nara Camice,
Foot Locker, Swatch, Zara, H&M, Bershka,
Promod, Pimkie, Camaieu, Guess, Douglas,
Stradivarius, OVS
2,100 – 2,300
(including key money)
100-700
Antony Morato,
Desigual
*Please note that rents vary greatly according to the position on the street, the size of the shop, and the internal layout, as well as the number of windows facing the street; therefore rental
values may be much higher than those reported above.
**General indication of the exiting range of unit size.
CUSHMAN & WAKEFIELD
Global Cities
Retail guide
milan
Food & Beverage
According to the latest study by Fipe (Federazione Italiana Publici
Esercizi), the Italian restaurant business sector makes over 30 billion
Euros a year and has increased by 40% over the last 20 years.
Although over the years, and especially during the recent economic
downturn, families have reduced their food spending, eating out has
become increasingly common.
The frenetic rhythm of modern life has had an impact on consumer
trends. In particular, urban food establishments cater to workers who
often live far from their job and have little time for their lunch break. This
has been one of the growth drivers of fast food operations.
The food sector can in fact be divided in two main categories:
traditional activities and modern retail food concepts (such as snack
bars, fast food and sliced pizza), which now account for a third of total
turnover.
While Italians tend to have a preference for traditional cuisine, a
quarter of diners demonstrate curiosity towards toward foreign foods.
The Italian restaurant sector has been successful in answering the
shifting demand, giving customers mainly what they can’t get easily at
home. Emerging trends in new formats are “restau-fashion” (food and
fashion), “young bars” (beer and trendy products) and wine bars. Many
others are betting on the use of technology, such as wi-fi areas, and e-cash
systems.
market overview
Data as of August 2012
KEY AREAS
CONSUMER PROFILE
FOOD & BEVERAGE
OPERATOR INCLUDING
RENT FOR
350 SQM
UNIT
Navigli e
Ticinese
Weekday customers mainly
local/residential customers
with few tourists, weekend
movida
Rosso Pomodoro, Fratelli la
Bufala, Califormia Bakery
N/A
Corso Como
–Isola - Corso
Garibaldi Brera
Mixed residential and tourist
clientele; high concentration
of offices and the fashion
sector, but also one of
the most famous nightlife
districts
Princi, Rosso Pomodoro,
Panino Giusto, Obikà, Eataly,
Hard Rock Cafè,
N/A
Historic
Centre
Mainly tourists and workers;
hosts traditional bars,
restaurants and pastry
shops as well as the new
formats, both national and
international
Laduree, Obikà, Fratelli la
Bufala, Califormia Bakery,
Grom
N/A
Though there is interest on behalf of international operators to enter
the Italian Food & Beverage market, difficulties could be represented
by the limited number of premises available on the high streets which
satisfy the national regulation requisites, as well as the strong competition
represented by private local businesses.
The rent requested varies greatly according to the position on the
street, the size of the shop and the internal layout, as well as the number
of windows facing the street.
CUSHMAN & WAKEFIELD
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