Italy's Luxury Brands Work to Attract Wealthy Shoppers at Home

Dow Jones09-18 19:18

1117 GMT - Italian luxury brands are stepping up their efforts to attract high-spending customers in their home market, analysts at Berenberg write in a note to clients. The analysts provide feedback after a trip to Milan and the city's Via Monte Napoleone, one of the world's foremost luxury shopping destinations. The Gucci store attracted a large number of shoppers, with most of the range already coming from the collection of the new designer, Demna, the analysts say. Brunello Cucinelli reinforces long-term relationships with its customers, enabling its retail model to continue posting double-digit growth, they add. Moncler's staff highlighted strong demand for higher-priced products and a notable reliance on Chinese tourists, while Zegna had the highest visible conversion rate--the ratio of purchases by shoppers entering the venue, the analysts say.

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