Despite global headwinds in fashion and leather goods, Louis Vuitton’s Greek arm delivered a striking 20% sales increase in 2024. According to filings at the country’s business registry, revenues climbed to 77.81 million euros. Executives credit both the strong influx of tourists and steady domestic demand.
Expansion also played a role: new outlets, including the boutique at Astir Marina in Vouliagmeni and seasonal stores in Mykonos, broadened reach and visibility. More than just a shopping destination, Louis Vuitton has become a cultural marker for affluent travelers in Athens’ luxury corridor on Voukourestiou Street.
Prada’s Record-Breaking Year
Prada Hellas, with over 16 years in the local market, also posted remarkable growth. Sales rose 28% year-on-year, reaching 15.79 million euros versus 11.73 million euros in 2023. The rise was driven by younger consumers, digital channels, and the successful launch of Miu Miu’s seasonal boutique in Mykonos last July.
Notably, 40% of buyers were local, while international customers—especially Americans and Arabs—accounted for over 30% of sales. The brand’s ability to capture both domestic and tourist spending underscores its adaptive strategy.
Hermès Shines at City Link
Hermès Greece, under Regional Managing Director Luc Hennard, also reported stellar growth. Turnover rose by 27.56%, reaching 22.35 million euros compared to 17.5 million euros the year before. The flagship boutique at City Link, on Stadiou and Voukourestiou streets, remained the jewel in the crown, drawing buyers with iconic Birkin and Kelly bags, silk scarves, perfumes, and leather goods.
A Market of Resilience
Against the backdrop of global cooling in luxury demand, Greece stands out as an exception. Tourism continues to be a vital engine, but local appetite for high-end goods has also proven resilient. With steady investment in prime locations and targeted expansion, luxury houses in Athens and beyond are not just weathering challenges—they are thriving.
Source: tovima.com
