Oslo is Europe’s fastest growing city with a population of 632.990 as of October, 2013. Number of people passing daily through Oslo City will increase from 150 000 to 300 000 in the years to come. All public transport runs through the city center.
Louise Vuitton made over $10.7 million in sales in 2012 in the luxury district of Oslo, the capital of Norway. In 2011 they made $9.2 million and the year before that, in 2010, they made over $8 million. World known luxury brands like Bottega Veneta, Gucci and Prada has now turned their eyes towards the oil rich country.
Expensive designer handbags and accessories are now becoming big business in Oslo. Currently, there are only a handful of luxury boutiques there, but in relation to the population and the purchasing power Norwegians have there should have been many more.ALSO READ: Avoiding fear and uncertainty in the stock market.
Other cities in Europe with the same size have around 20 luxury boutiques and many of them may pop up in Oslo in a few years.
A lot of Norwegians can afford luxury goods if they prioritize it. They have a high percentage of women and men with high fixed income. The amount of millionaires in Norway has increased in the recent years. Back in 2011 there were 433,608 millionaires, over 14,000 of them had a fortune of over $1.7 million and over 500 had a fortune of over $71.9 million. The amount of millionaires is still growing in the country and that means good business for luxury brands.
There is no place on earth (that I know of) like Switzerland than can produce and deliver innovative luxury accessories. Switzerland is a land of luxury and elegance.
Genius people like Bruno Jufer, Martin Braun and Roland Iten are my heroes when it comes to luxury items. Mr. Roland Iten sells mechanical belt buckles, credit card dispensers, cufflinks and much more. He is the father of mechanical luxury for gentlemen. I have been in talks with Carol Galliano, the director at Rolan Iten SA, and basically begged her to launch their luxury items here in Norway.
I’ve also talked Mr. Bruno Jufer, former CEO of Antoine Martin, about launching his luxury timepieces in Norway without any luck. He is a genius individual with over 15 years of experience within the watch industry. Another genius who should absolutely be mentioned here is the founder of Antoine Martin, Mr. Martin Braun.
Oslo needs people like Mr. Roland Iten, Mr. Bruno Jufer and Mr. Martin Braun to make successful people with a taste for quality look good. That’s why I’m hoping that luxury brands from Switzerland can shift their eyes towards Norway and see the huge market for luxury here.