The Savills Blog

Monaco’s changing retail sector

It is probably fair to say that Monaco has not primarily been one of the Côte d’Azur’s retail magnets. That is set to change over the next few years as Monaco sets out to entice clients away from Cannes or San Remo, to enjoy a unique shopping experience in Monaco.

Ready now is the retail offering of Monaco’s newest and most luxurious development, One Monte Carlo. Situated smack bang in the centre of Monaco, in the famous “Golden Square” , the development has been designed by Sir Richard Rodgers and Monaco architect, Alexandre Giraldi. The complex consists of seven contemporary buildings with glass facades: six are residential and the remaining office and retail. The Promenade Princesse Charlene is the shopping hub of this new area and hosts 23 luxury boutiques plus Michelin-starred chef, Marcel Ravin’s, café-bistro-pastry shop, where a champagne high tea is served daily. The hope is that the Promenade will rival shopping streets such as Bond Street in London or the Rue du Faubourg St Honoré in Paris, grouping together all the most exclusive fashion brands we know and love.

Still in the planning stage too is the re-thinking of the Fontvieille shopping centre. Currently playing host to Monaco’s largest supermarket plus a few other High Street fashion brands, the centre is somewhat lacklustre and an overhaul is very much due.  Debate is ongoing as to the retail policy to be applied as regards the choice of retailers to be offered to this centre’s customers in the future but is generally thought that fairly upmarket High Street brands will be invited to pitch for space here to ensure that Monaco’s retail offering rivals that of the relatively recent Polygone shopping centre about 30 minutes away.


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