Cartier flagship joins luxury boom in Sydney’s CBD

When the French jeweller opens the doors to its new flagship in the Sydney CBD this week, the intention is to create a unique retail experience.

Cartier’s Sydney flagship will pay ‘tribute’ to its location. Picture: Nick Cubbin

When French jeweller Cartier opens the doors to its new flagship, on the corner of King and George streets in the Sydney CBD this Thursday, the intention is to create a unique retail experience.

Cartier Australia and New Zealand managing director Alban du Mesnil says this will align Sydney with the jeweller’s global strategy for its boutiques.

“The maison started a full renovation of the key flagships in the world a few years ago. The idea was really to move away from the standard concepts that would be exactly the same everywhere, with the intention that a client would have exactly the same experience in Sydney and in Tokyo or in Mexico. Now we want to immerse our flagships in their local environments. We want this flagship to really be a place of interaction and of connection,” he says.

The design of the Sydney flagship is by the French architectural firm Moinard Bétaille, which has overseen Cartier’s boutique designs globally since 2002, and incorporates touches of Australian-ness. This includes collaborations with local craftspeople and Manapan and Bula’bula Arts, Indigenous artisan collectives from Arnhem Land and Milingimbi Island communities, as well as nods to recognisable Australian iconography such as the Sydney Harbour Bridge. On the first floor is the opal bar, which will serve up bespoke cocktails by Sydney cocktail bar Maybe Sammy.

“It’s really this interesting dialogue between the country itself and its environment. We will, of course, be fully true to (Cartier’s) identity and also pay tribute to the place where we are, which is a stunning city, and an incredible country — its spaces, the colours, the flora and fauna, is really the inspiration of every single line and representation in the boutique,” says Mr Du Mesnil.

What customers increasingly want, says Mr Du Mesnil, is an “experience” rather than something purely transactional.

Transactions are certainly happening, though. The high-end luxury market has so far proved particularly bullish in the face of the global pandemic, uncertainty and rising inflation.

Earlier this month, LVMH, which owns brands such as Louis Vuitton, Dior and Bulgari, reported sales of fashion and leather goods were up 22 per cent in the third quarter, while Hermès posted a 24 per cent increase in sales in the quarter to the end of September. Industry publication The Business of Fashion, in conjunction with consultancy firm McKinsey, noted in its State of Fashion 2022 report that pent-up demand, or so-called “revenge shopping”, is partly driving the trend. The report also stated that “hard luxury” such as jewellery was particularly sound, with demand for branded fine jewellery expected to grow between 8 and 12 per cent from 2019 to 2025.

In Sydney, the new Cartier flagship joins a high-end retail boom in the CBD, and continues the expansion of luxury precincts from Castlereagh to King, George and Market streets and their surrounds.

Sydney Lord Mayor Clover Moore says the arrival of the Cartier flagship on George St, home to the new “pedestrian light rail”, speaks to the area becoming a “major precinct” in the CBD, as well as the bounce back of the city centre from the Covid pandemic. “Cartier’s arrival confirms that recovery. As one of the world’s great brands, it puts its mark on the street and acts as a rallying point for other luxury brands and we look forward to welcoming more residents, businesses and visitors into the heart of Sydney,” Ms Moore says.

Following extensive renovations for the likes of Dior’s Castlereagh St flagship, the doubling in size of the Celine boutique in Westfield – with the new design concept overseen by Celine creative director Hedi Slimane – and new CBD arrivals such as Swiss watchmaker Roger Dubois, a new flagship for the French jeweller Chaumet will also open in December.

In March 2023, so, too, will a “world of Ralph Lauren” flagship on the corner of Pitt and King. Meanwhile, luxury Italian brands Brunello Cucinelli and Missoni will have their first Australian retail stores, with Gennaro Autore, founding director of the Graaf Group, bringing the brands in as part of the $170m overhaul of the Harry Seidler-designed MLC Centre (now 25 Martin Place).

Amanda Pieriboni, head of transactions and development – retail, healthcare and alternates at real estate group Dexus, says the creation of new luxury precincts speaks to an exciting time for Sydney’s CBD.

“When we talk about luxury, it is the whole experience. It includes the type of dining that our customers are seeking. This is what we have seen since we opened the new dining and arts precinct at 25 Martin Place,” she says.

Gennaro Autore says the opening of the two new boutiques alongside new flagships for fellow Italian luxury brands Valentino (opening late November) and Dolce & Gabbana turns the precinct into a “destination”.

“I think (the) four brands reopening at one time to that level makes an interesting event,” he says.