Commercial investment

"The retrenchment to core destination cities seen last year will continue in 2019. Smaller, emerging and underserved destination cities will prove attractive as and when specific opportunities arise"

"While new openings declined last year this was largely at the expense of smaller independent brands as the top three luxury houses, LVMH, Kering, Richemont all increased new store openings globally in 2018"

"Luxury spending globally increased 6% in 2018 according to Bain & Company, with Europe accounting for a third of sales, with forecasts pointing to further growth of between 3–5% per annum to 2025"

"Of the 26 global luxury locations tracked by Savills over a third reported year-on-year growth in 2018 with 50% maintaining headline rents."

"Much of the growth in luxury spend in 2018 was driven by millennials and their younger counterparts Gen Z"

"Investment activity across the big luxury houses has intensified over the last three years. Across the top 10, funding volumes (based on known values) reached $8.3bn, 10 times that seen in 2016"

"The retrenchment to core destination cities seen last year will continue in 2019"

"Solid consumer fundamentals continue, but Brexit uncertainty could drag on retail sales growth"