Detroit – As global wealth capitals continue to shift amid ongoing economic flux, luxury retailers are opening new retail destinations that cater for emerging markets. In the US, luxury fashion brand Gucci has opened a store in downtown Detroit, making it the first high-end brand to have a presence on Library Street.
The boutique spans more than 3,500 square feet and features a large selection of ready-to-wear clothing for men and women, accessories, jewellery and watches, as well as the exclusive Gucci Décor range. Rather than demolishing the old site, the company has restored the historic building's original glass tiles and geometric metal façade.
Although this is the luxury brand's first location in the city, it's not the first time it's paid homage to the urban metropolis. In 2019, the luxury brand collaborated with artist Jenn Nkiru on the film Black to Techno, which shines a light on the origin of the electronic genre in the American city.
With global uncertainty about the position of the Chinese luxury market, the US Luxury Market is growing in importance. In addition, as work-from-home regulations allow luxurians to lead nomadic lifestyles, cities such as Detroit are emerging as significant hubs of growth.
How can luxury companies look further afield and create retail destinations that cater for emerging markets? With remote working, companies have a chance to serve Untethered Luxurians in different locations