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Milan as a laboratory for international brands. British and Japanese are coming

22 November, Corriere della Sera

Yesterday, during the presentation of the researches by Legance in London, all the main European real estate and commercial players were present. They all agreed on one idea: Milan is the only Italian city where is worth to invest massively. As the report of another consulting company, Cbre, reads: “The city is being used like a laboratory and a bridge for international brands to pursue their expansion. It’s a domino effect: when one brand arrives, it’s immediately followed by the others. And this is true for all the sectors”.

The trend has boomed, and the high streets are changing. In Corso Buenos Aires, after renovation works lasted 15 years, Corti di Baires will come back to life with shops covering an 8 thousand Sq m surface. “Tourism is one of the main drivers, and the retailers are accelerating, despite the decrease in revenues registered in the last two months (-10%). In some cases, big chains have replaced small artisanal shops. Milan is on the radar”, confirms professor Sandro Castaldo from Bocconi University. According to the Chamber of Commerce, artisanal shops are still holding, while shops and bars have registered a 5% growth in the last five years.

Yesterday the second Starbucks store opened in Corso Garibaldi after the one inaugurated in Piazza Cordusio. Meanwhile, the British pharmacy shops Boots arrived in Italy with a store in Viale Fulvio Testi. The brand might shortly replace nine “Essere Benessere” shops. Moreover, also the German discount chain and main Lidl competitor Aldi is looking at Milan. The first store of the Japanese Uniqlo is expected to open in April, while the Irish Primark will occupy the former building of Trony and Fnac. The location for the restaurant Bottega del Ramen of the group Toridoll is ready. The hamburger joint Five Guys opened a while ago in Corso Vittorio Emanuele, and the Asian food restaurant chain Wagamama opened in Via San Pietro all’Orto, Massimo Dutti (of the same Spanish group as Zara), KFC (Kentucky Fried Chicken) in Via Orefici. There are also experiments such as Backdoor 43, in Navigli, one of Europe’s smallest bars. Moreover, there is a plentiful of bars with restaurant annexed like Botanical: the gin distillery tested the location in the Isola and Tortona areas.

For what concerns coffee, there are Nespresso (Piazza Liberty), Illy (Via Montenapoleone) and Lavazza (Piazzetta San Fedele). Finally, the Milano coffee shops specialising in americanos 12Oz is already present with six shops and is meant to double such result by 2020. According to the Chamber of Commerce, there is a bar opening every day in Milan, and the coffee market in the city is worth 450 million. Today, international coffee shops represent 8% of the sector, but it might double with the arrival of Starbucks within two or three years. Will the trend impact traditional bars? All the experts say no: at least in the short-medium period, the market is forecasted to expand.

Source: Corriere della Sera

Translator: Cristina Ambrosi