According to the latest data from international real estate consultancy Cushman & Wakefield, the number of new store openings in Europe by the world’s three major luxury giants decreased by 20% in 2024 compared to 2023, with only 29 new stores launched. Among them, LVMH opened 15 stores, Richemont 11, and Kering three. In total, high-end brands opened 83 new stores across 12 European countries in 2024, down from 107 in 2023, primarily due to a shortage of prime retail spaces in core shopping districts. Despite the decline in new openings, demand for retail spaces in top shopping streets remains strong.