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Insight of the Day: How Cartier, LVMH, and other luxury brands are preparing for the Olympic’s retail boost

Luxury retailers are adapting their strategies in anticipation of the Paris Olympics, as they expect a shift in tourist traffic away from the French capital.

Key Points:

  • Diversification of Locations: Retailers like Cartier and Van Cleef & Arpels are focusing on meeting their wealthy clientele in cities like London, Milan, and Barcelona, expecting increased traffic there during the Olympics.

  • Neutral Impact for LVMH: LVMH, an Olympic sponsor, anticipates a neutral impact on sales but acknowledges potential logistical challenges in supplying products to their Paris stores.

  • Early Fashion Shows in France: The Federation de la Haute Couture et la Mode has rescheduled its autumn fashion shows to avoid clashing with the Olympics, indicating concerns about traffic disruptions.

  • London's Hopes for Tourist Boost: Retailers like Harrods and Selfridges in London aim to capitalize on the potential influx of tourists diverted from Paris.

  • Barcelona's Relaxed Alternative: Barcelona is positioning itself as a less crowded and more relaxed option for tourists seeking an alternative to the Olympic frenzy.

Overall, luxury brands are adapting to the anticipated changes in tourist behavior during the Olympics. They are diversifying their locations, focusing on customer service in cities expected to see increased traffic, and strategically planning events and promotions to attract shoppers. While the Olympics may pose some logistical challenges, retailers are optimistic about the potential for a retail boost in other European cities.

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