Two business owners in the city centre have welcomed the opening of luxury stores as a symbol of the capital's attractiveness to prospective shoppers. The presence of international brands in Luxembourg is a contentious one, but some retailers value their presence as a sign that the city centre remains alive.
Business owner Robert Goeres belongs to the latter group, highlighting that Luxembourg City is a European capital, especially as the country's borders are a mere 20 kilometres away. He believes people visit Luxembourg from Saarbrucken, areas in France, and Belgium, as they want to experience the brands found in Luxembourg.
One such example would be Swiss watch brands. Whilst the Swiss watch industry only makes up 5% of worldwide production of watches, the country's watches account for 60% of global sales. Swiss watches are defined by the craft of making mechanical watches, which goes back 500 years. In Luxembourg, the most famous watches are completely sold out. As Goeres said , some sports watch models yield a 100% return.
Goeres points out that sometimes, especially during the Christmas season, some watches are no longer available, even though retailers prepare for the festive season. Shops tend to prepare for local customers' wishes, as customers still show up in the days ahead of the holidays, as they did not have time to shop before.
Generally, retailers on Grand-Rue were not bothered by the bad weather, but the construction sites have made things difficult for other shops in the city centre. Pascal Zimmer, a business owner near Rue du Marché-aux-herbes, said that somehow 'against all odds', shops have had a successful season. His own revenue had been quite good. He added obviously, he would be happy for construction sites to be completed to return to normal.
Luxury and premium sales are managing successfully in the capital. But the question of the diversity of shops is another matter.
