Melbourne CBD fashion-forward as global brands set up shop

Swanky fashion houses dripping in sparkling jewels and designer frocks are sashaying their way down Collins St into the heart of the CBD, where demand for deluxe brands is fuelling a rebirth of “marvellous Melbourne”.

World class brands such as Chanel, Burberry, Prada, Gucci, Louis Vuitton and Japan’s Uniqlo and Muji are just some of the dozens of stores setting up shop. And they can’t get here fast enough.

But while these international stars are gracing not only the CBD but shopping centres such as Chadstone and Westfield Doncaster, they are leaving gaping holes in the once glamorous suburbs of Toorak and South Yarra.

Despite the fact that Toorak has one of the highest per capita incomes in Australia, the locals are not shopping there — at least not for luxury labels.

The village is too expensive for the young. The young want value. The old have got everything, they’ve got the bloody lot

Deserted shops sit side by side in Toorak Village and parts of Toorak Rd in South Yarra. The once stylish boulevard is now more likely to house pet grooming shops, nail boutiques and florists rather than fashion boutiques, apart from a few mainstays such as Max Mara, Marina Rinaldi, Basler and Henry Bucks.

The days of Toorak Tarts – once the place to buy a Toorak-style cake to impress your dinner guests – and Lillian Frank’s socialite-filled hairdressing salon are long gone.

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Frank, whose salon was a fixture in Toorak for 40 years, agrees the village has gone downhill.

“The village is too expensive for the young. The young want value. The old have got everything, they’ve got the bloody lot. There is not enough (goods) in the village to offer fashion and culture. It’s all on Chapel St. Everyone on Chapel St is making money,” she says.

The Chanel store at 141 Flinders Lane in Melbourne’s CBD

Frank despairs at Toorak Rd’s empty shops: “I’ve never seen it so bad.”

Further down the street in South Yarra, some stalwart boutiques such as Fig and Francesca have withstood the high quality exodus. And does anyone remember the exclusive and now departed restaurant Maxim’s, where you almost needed your birth certificate to show your bona fides before you could get in the door?

To make matters worse, there is talk of discontinuing the No.8 tram in favour of re-routing the No. 55. The No.8 used to offer public transport users one of Melbourne’s most scenic routes as well as drum up business for Toorak Rd shops.

CBRE’s Zelman Ainsworth says luxury retailers are swooping on other parts of Melbourne because it is an “untapped safe market”.

Melbourne has been the No.1 city in the world for five years in a row

“It has a safe economy and a safe government (and) the population is growing,” Ainsworth says.

He says the city is a favourite among Asian tourists who in their own countries are forced onto waiting lists to buy a Louis Vuitton bag.

“When they come to Australia, it’s like a free-for-all”.

Plus some customers are offered valet parking at nearby hotels to enjoy a hassle-free shopping experience.

Ainsworth says the CBD, particularly Collins and Russell streets and Flinders Lane, is regarded as the ultimate location for retail leviathans, adding that they like CBD blocks because they can control their building and shopfront.

He says luxury retailers love coming here because “Melbourne has been the No.1 city in the world for five years in a row”.

The buildings are preferred because they offer 400-500sqm of space to display all their products, from fragrances and handbags to men’s and womenswear.

This article originally appeared in the Herald Sun.