Chanel and Louis Vuitton Visit Panama

 Chanel and Louis Vuitton Visit Panama

Word Count:

752



In brief:

There is now a Chanel store and a Louis Vuitton shop at Panama City's Multiplaza Mall.





Key words:

safeguarding assets, remote banking, and virtual bank accounts





Article Text:

Introduction: A Chanel store and a Louis Vuitton store have been opened at Panama City's Multiplaza Mall. Panama's upscale shopping center has long been Multiplaza Mall. We now have these two upscale boutique boutiques in addition to the ability to purchase Montblanc pens and luxury Swiss timepieces like Breitling and Omega.



Can Panama accommodate these upscale stores? Although Hilfiger and Nautica have been here for a while and appear to be doing well, their merchandise is more akin to that of high middle class retailers than an upscale establishment. Do we have enough people who are willing to pay $900, which is three times what the average worker in Panama makes in a month, on a pocketbook or pair of sunglasses? In Panama City, we've long had Cartier and Rolex boutiques. As of late, Panama City also has a dealership for Maserati, Ferrari, and Porsche. While there are quite a few Porsche Cayenne SUVs on the road, there are very few actual Porsche vehicles. It is extremely uncommon to see a Maserati or Ferrari, but on Sunday afternoons, when you visit the Causeway, you will witness the auto collectors making their drive-bys as a justification for driving their vehicles. There isn't a Bentley or Rolls-Royce dealership here. Perhaps I ought to add, yet.



Luxury Products and Criminal Activity: There are no carjackings in Panama, or if there are, no one ever hears of them. With all the traffic, there is nowhere to flee, and a thief would undoubtedly be apprehended within blocks. As soon as they saw the crime, they would call the police on their cell phones, and the situation would stop when the cops arrived on motorbikes. What would happen if ladies began carrying $1900 Vuitton handbags? Will children go after them in the hopes of selling them for fifty bucks in the neighborhood? Can the child distinguish between an expensive and non-expensive purse? Will the kids require a fencer and trainer along the lines of Fagan? Of course, a thief would also be interested in the contents of a $1900 pocketbook. Many ambitious sellers in Panama City have obtained Vuitton franchises without even owning a storefront—just kidding. As a result, they have introduced many products that resemble Chanel and Vuitton into the nation, which may disorient burglars. What happens if people in Panama start donning $20,000 gold and platinum wristwatches? What would the robbers think of that? It doesn't take much to convince a burglar to wear a $20,000 watch in a nation where the average monthly salary is only $300.



What Comes Next: Given the presence of Vuitton and Chanel, is it reasonable to anticipate the arrival of other upscale designer labels? People typically don't want to lose out on a market that is dominated by companies like Chanel and Louis Vuitton. Will Saks Fifth Avenue, Neiman Marcus, and Bloomingdales expand their doors here? I believe you could wager on that with confidence. I predict that art galleries and antique shops will follow shortly. Then, we'll witness opulent, well-known eateries like Emerils charging exorbitant prices for tiny servings of cuisine. There are already speculations that a Hilton Hotel may open in Panama City, and several upscale, name-brand hotels should be on the horizon.



Consequences: It is possible that the price of real estate in Panama is still rising and that the peak was much higher than it is currently. If these upscale stores didn't employ competent site location analyzers, they wouldn't be in business. This is important information if they are approving of Panama. Before you know it, real estate in Panama may be selling for $5,000 or more per square meter. The absence of infrastructure has long been cited as a reason for the high prices. By cleaning up the bay, the city is actually going to develop a waterfront that can be used. They intend to control the flow of traffic. The housing stock is increasing. The lodging facilities are opening. Currently, the airport is being expanded. They are building a cruise terminal. There is a canal expansion underway. The Causeway is fully constructed and has the best appearance of any Causeway in the entire globe. Put on your chairs and enjoy the journey; you might just get off much richer than when you started. This could be it.

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