In the first half of 2025, fashion brands launched fewer retail initiatives worldwide, according to a Luxurynsight survey. By contrast, the report highlights strong momentum in fragrances and cosmetics, while watches and jewellery held steady.
Based on the period from January to August, Luxurynsight puts the number of “retail activations” for fashion and leather goods at 391, covering store openings, shop-in-shops, pop-ups and service areas. This figure is down 9 points from the first half of 2024. While China, Europe and North America show stable levels, the figures indicate sustained commercial momentum in the APAC region (Asia-Pacific) and the MENA region (Middle East and North Africa).
Conversely, the number of activations in fragrances and cosmetics rose by 13 points to 148. Once again, growth was driven by the APAC and MENA regions. As in fashion, only the Japanese market saw a notable decline in major brands’ commercial initiatives.
The study also looks at the watches and jewellery market, which generated 91 notable activations over the period, a slight contraction of 5 points. In this field, Europe posted strong growth, while Japan also advanced. By contrast, the study reveals a decline in the Chinese, APAC and MENA markets.
Permanent and pop-up stores
By region and across all sectors, China remains the busiest retail market, accounting for 34% of activations, ahead of Europe (20%), APAC (16%) and North America (10%).
For permanent store openings alone, activity is concentrated in China (33%), Europe (20%), APAC (16%) and North America (12%). Coach, Loewe, Louis Vuitton, Prada and Chanel are the most active in fashion, while Diptyque, Jo Malone and Acqua di Parma are particularly prominent in beauty.
As for pop-up store openings, the regional distribution remains similar to that of permanent boutiques. Tokyo, Shanghai, London, New York and Taiwan are the most targeted cities.
Among fashion brands, Dior, Loewe, Louis Vuitton, Prada and Burberry are the most active. In watchmaking, Bulgari, Van Cleef & Arpels, Tiffany and Cartier are the most prominent.
