European cities prep for luxury tourist influx during Olympics
Luxury retailers in European cities outside France are expecting a surge in wealthy tourists this summer, as visitors avoid the crowds and street closures in Paris during the Olympic Games. Cartier CEO Cyril Vigneron predicts that cities like London, Milan, and Barcelona will see increased traffic. The Summer Games, from July 26 to August 11, are not seen as the ideal time for high jewelry events in Paris, though stores will remain open. Richemont-owned jewelry brands and LVMH, based on past experiences, anticipate similar trends. A Paris 2024 report suggested tourists might divert to other destinations. Consequently, fashion shows are rescheduled, and some labels opt for Milan presentations. London stores like Harrods and Selfridges are preparing for an influx, with Harrods focusing on exclusive products and Selfridges offering sporting events. Barcelona is promoting a more relaxed alternative. Some tourists, including Americans, plan to visit other European countries during the Games, boosting intra-European travel.