World's Top Shopping Capitals

Consumers will find the most satisfying selection of retailers in these 15 cities.

Topshop finally hopped across the pond to New York City in April 2009. Anthropologie, headquartered in Philadelphia, Penn., signed a lease on London's Regent Street to open its first store in Europe by the end of this year. And Thailand's first Gap is set to opens its doors next spring.

Regardless of how badly retailers' sales have suffered through the recession--in June 2009, U.S. retail sales saw a year-over-year decrease of 9%, to $342.1 billion, according to the Commerce Department, and Saks ( SKS - news - people ) Fifth Avenue's, Gap's ( GPS - news - people ) and H&M's year-over-year global sales for stores open at least one year were down 4%, 10% and 5% in June, respectively--there's no denying that many have used this as an entrée into markets beyond their country's borders. That's because expanding abroad is one of the most efficient ways for a brand that has saturated its own country's retail landscape to gain global market share and increase sales. The result? More choice for the consumer, from Hong Kong to Hamburg. And (hopefully) a bigger bottom line for retailers.

Consider London. In the U.K., the High Street--or the main road in a neighborhood--is shopping mecca. In London, there are more High Streets than one can count, so it's no surprise it hosts more than half of the world's top retailers--chosen for their market share both in their home country and abroad--including the young and trendy Topshop as well as high-end department stores like Liberty of London and Harvey Nichols. What's more, London's leasing regulations for real estate occupied by a foreign-operated business are a lot less strict as they are in, say, Mumbai--where foreign retailers are forbidden to directly open single brand stores--according to Peter Gold, head of Europe, Middle East and Africa cross-border retail research at Los Angeles-headquartered CB Richard Ellis Group ( CBG - news - people ) (CBRE), a multinational real estate corporation. That means retailers like Gap, Abercrombie & Fitch ( ANF - news - people ), Uniqlo and Urban Outfitters ( URBN - news - people ) have often used London as a launch pad for foreign expansion.

It also means that shoppers in London have the most options when it comes to browsing the world's top retailers. Indeed, 59.26%of the world's biggest and best stores are open for business in the city.

Behind the Numbers

To find the world's best cities for shopping, we turned to Gold, who co-authored CBRE's spring 2009 study "How Global Is the Business of Retail?" Gold and his colleagues mapped the global footprint of 280 of the world's top retailers across 67 countries, analyzing retail globalization at a city level. Cities that possessed the highest percentage of these top retailers--chosen for their market share both in their home country and abroad--capped off the list. Retailers studied included restaurants, luxury goods purveyors and mass-market discounters. (The only retailers not considered were automobile dealerships and manufacturers.)

The more options a shopper has, the more discerning he seems to be.

"London shoppers are most adventurous, full stop" says Jason Campbell, a personal stylist and founder of online fashion publication JC Report. Londoners' style is all over the map, and that's reflected in what the stores carry for the runway collections."

While London has its fare share of mass retailers, niche boutiques are peppered across the city, from Westbourne Grove to Shoreditch. For instance, Comme des Garçons designer Rei Kawakubo's Dover Street Market in Mayfair features hard-to-find designers like Anne Valerie Hash; Labour of Love in Islington stocks little-known labels such as Louis Amstrup.

Paris' shoppers--with 49.79% of the world's top shops at their disposal--are similarly selective, although favorite boutiques tend to showcase French designers or those who show their collections during the city's Fashion Week, says Campbell. The latest shopping hot spot? Palais Royal in the first arrondissement, which hosts boutiques such as Stella McCartney, Rick Owens and Corto Moteldo. Diane Pernet, a fashion journalist and author of the Where to Wear, Paris travel guide, suggests new vintage shop Bastien de Almeida as well as Maria Luisa, Colette and L'Eclaireur for those who love multi-brand boutiques. Designer Isabel Marant's boutique in the Marais is also a must-visit for fashionistas looking to add some Parisian ease to their wardrobe.

Other popular shopping destinations include New York, Tokyo and Dubai. While New York (hosting 46.91% of the world's top retailers) and Tokyo (38.68%) both offer tourists a bigger selection of stores than any other city in their respective countries, Dubai's No. 4 ranking on the list--boasting 45.68% of top retailers--is an indication that demand in the Middle East just keeps growing. For example, by 2010, American department store Bloomingdales, part of Macy's ( M - news - people ), will have opened up shop in the city. Along with a consumer demand for more brand names, the numerous malls and shopping centers being built within Dubai make it easier for retailers--or their franchise partners--to acquire prime real estate at a reasonable price. "Access to real estate is key," says Gold.

Other emerging markets are also going strong, including Russia's Moscow--where, Campbell says, conspicuous consumption is still socially acceptable if you do indeed have the money to spend--and Beijing and Hong Kong in China--where 50 new millionaires emerge every day, according to Dan Sontag, president of the global wealth management group at Merrill Lynch. However, brand names still lack a real presence in cosmopolitans within India and Brazil. That's because these countries have stricter rules when it comes to foreign retailers operating businesses within their cities, regardless of whether or not it's through a franchise agreement. Both India and Brazil have strong domestic retail and luxury industries and don't want to cannibalize those sales, says Gold.

But not to worry, power shoppers. Gold also says that as the demand for global brands increases in these countries, so will their brick-and-mortar presence: "I think that it will change," he says. "There is too much [financial] opportunity."

To find the world's best cities for shopping, we turned to Los Angeles-headquartered CB Richard Ellis Group, a multinational real estate corporation that deals in everything from investment to management to research. CBRE's spring 2009 study "How Global Is the Business of Retail?" mapped the global footprint of 280 of the world's top retailers across 67 countries, analyzing retail globalization at a city level. Cities that possessed the highest percentage of these top retailers--chosen for their market share both in their home country and abroad--topped the list.




1. London



Top Retailers: 59.26%

In England, the High Street--or the main road in a neighborhood --is ground zero for shopping. In London, there are more High Streets than one can count, so it's no surprise it hosts more than half of the world's top retailers, including the young and trendy Topshop as well as high-end department stores like Liberty of London and Harvey Nichols. Looking for something more niche? Try Comme des Garçons designer Rei Kawakubo's Dover Street Market--a super-boutique featuring hard-to-find designers like Anne Valerie Hash--or Labour of Love, which stocks little-known labels such as Louis Amstrup.



2. Paris



Top Retailers: 49.79%

Paris is the world's most stylish city, home to some of the world's most well-dressed artists, stylists and designers. Where do these tastemakers score their duds? At vintage shops like Bastien de Almeida and multi-brand boutiques such as Maria Luisa, Colette and L'Eclaireur. The latest hot shopping spot, however is the Palais Royal, which hosts boutiques such as Stella McCartney, Rick Owens and Corto Moteldo, according to Campbell.



3. New York



Top Retailers: 46.91%

The only American city to reach the top of the list, New York is beloved for its grand department stores--including Bergdorf Goodman and Barneys, both in Midtown--as well as its funky boutiques, such as Crave in the meatpacking district and Aloha Rag and What Comes Around Goes Around in SoHo. Of course, every major mass retailer under the sun seems to have a presence in New York, from Target to Gap to Best Buy. One Big Box that's missing? Wal-Mart.



4. Dubai



Top Retailers: 45.68%

Wealthy shoppers in the Middle East love Dubai for its endless sea of malls, including Mall of the Emirates, Wafi Shopping Mall and Villa Moda, chockfull of designer shops like YSL, Gucci, Prada and Louis Vuitton. Many retailers open up shops in Dubai through franchisee agreements. For example, by 2010, American department store Bloomingdales will be open for business in the city through a partnership with the Dubai-based Al Tayer Group.



5. Madrid



Top Retailers: 44.03%

The Spanish capital of Madrid serves as a home to many of the world's top brands, including Adidas, French leather goods maker Loewe and mass mainstay H&M, as well as local favorites such as Agatha Ruiz de la Prada and Desigual, which recently made its U.S. debut in New York's SoHo neighborhood.



6. Moscow



Top Retailers: 42.39%

Bottega? Bulgari? Balmain? If you're looking for luxury, Moscow's got it. Le Form, the city's 10-year-old concept shop--or a shop that carries many brands with complimentary aesthetics--stocks local couturiers as well as international favorites such as Derercuny, Maison Martin Margiela and Dries Van Noten. Even mass brands like Gap, Zara and H&M have expanded into a city still seemingly dedicated to conspicuous consumption.



7. Berlin



Top Retailers: 40.33%

The sprawling city of Berlin has mass retailers like the runway inspired COS--a leg of Swedish company Hennes and Mauritz--high-end department stores such as Galeries Lafayette and fashion-forward boutiques like The Corner, which carries pristine vintage dresses alongside men's Kilgour suits and women's Clements Ribeiro sweaters.



8. Munich



Top Retailers: 39.92%

While it's only the third-largest city in Germany, Munich is still a favorite spot for global retailers, such as Brioni, Armani and Cerruti 1881, which are all at the high-end of retail. More accessible favorites include Polo Ralph Lauren. Of course, those in search of traditional German garb can search the Marienplatz--the area where most of the retail streets converge--for Bavarian costume.



9. Barcelona



Top Retailers: 39.09%

Of course Barcelona has its fair share of High Street stores, including Zara, Topshop as well as the more-mature Cortefiel. Designer shops, including Chanel and Cartier are also present. But it is lesser-known stores that avid shoppers truly appreciate. These include luxury designer boutique Jean-Pierre Bua--which stocks brands like Jean Paul Gaultier--and Le Shoe, home to the heels of Marc Jacobs and Robert Clergerie.



10. Tokyo



Top Retailers: 38.68%

With some of the most unique street fashion in the world, one of Tokyo's biggest draws is its bevy of stores. "It has the largest scope," says Jason Campbell, editor of online fashion publication JC Report. These include mass retailers like Uniqlo and one-off boutiques such as Boutique W--which stocks Belgian designer Ann Demeulemeester--as well as Side by Side, a clothing store launched by international stylist Nicola Formichetti that also showcases the work of emerging artists.



11. Singapore



Top Retailers: 38.27%

On Singapore's Orchard Road, shoppers will find well-known Western brands such as DKNY and Marc by Marc Jacobs, the department store Takashimaya and high-end Indian shop Mumbai Se. DFS Galleria Scottswalk is great for duty-free cosmetics and perfume.



12. Hamburg



Top Retailers: 38.27%

With nine major shopping malls, it's easy to see why Germany's second largest city makes the cut. The Hanse Viertel Galerie Passage--Europe's longest shopping arcade--is a particular favorite, with shops including upscale electronics maker Bang & Olufsen, Lacoste and Falke hosiery.



13. Hong Kong



Top Retailers: 37.86%

Venerable luxury department stores Lane Crawford and Joyce still reign supreme, housing brands like 3.1 Phillip Lim, Balenciaga and Thakoon. I.T--a chain boutique with an urban edge--is great for labels like A Bathing Ape, Cacharel and Raf Simons.



14. Milan



Top Retailers: 37.45%

Milan is Italy's fashion capital, and unsurprisingly, it's also the country's biggest shopping center. Along with the usual suspects, including Giorgio Armani, Gucci and Versace, Milan and the surrounding area is great for outlet shopping. Labels like Marni and Prada discount their goods by as much as 50% in these outposts.



15. Beijing



Top Retailers: 36.21%

Although oft-considered less-cosmopolitan than Shanghai, Beijing has a broad spectrum of retailers that includes department store Lane Crawford Shanghai Tang--which stocks Western clothes with an oriental flair--and the Place Mall, home to 40-plus luxury boutiques including Givenchy, Prada and Stella McCartney.