All cities have their own golden mile. Streets dedicated to the worship of the latest trends, to the major haute couture houses, to the fashionista souls that admire and buy from them, if they can. But there are always distinctions. In the Champions League of luxury streets, the favorites are always the Fifth Avenue in New York, queen of skyscrapers; the monumental Parisian avenue of the Champs-Élysées; the fascinating Tsim Sha Tsui in Hong Kong overlooking Victoria Harbour... This year, a narrow and small Milanese street of just 350 meters has also made its way onto the list. In fact, Via Montenapoleone has topped the list of the most expensive shopping streets in the world, marking the first time a European street has reached number one in the ranking by the real estate consultancy Cushman & Wakefield.
According to this report, now in its thirty-fourth edition, rents on the Milanese street have reached an average of ¤20,000 per square meter per year, surpassing the prices on the upper part of Fifth Avenue (between 49th and 60th streets), which ranks second in the "Main Streets Across the World" list, and London's New Bond Street, in third place among the most prohibitive commercial streets on the planet. The first Spanish street appears in 16th place: Paseo de Gracia in Barcelona.
The power of Via Montenapoleone, which along with Via Manzoni, Via Venezia, and Via della Spiga forms the Golden Quadrilateral (Quadrilatero della Moda) of the Lombard capital, is impressive. It's a duel of luxury and glamour where Prada, Versace, and Armani, among other Milanese houses and many others from around the world, compete daily with the most elegant and exclusive shop windows. Montenapoleone is a symbol in this city that attracts locals, tourists, and the curious alike like a magnet.
Although it may not offer a view like the nearby and much more famous Galleria Vittorio Emanuele II, the street of mosaic shops and dazzling glass dome that connects Piazza del Duomo with Piazza della Scala, where the legendary Opera House is located. Next to it, Via Montenapoleone is rather discreet, with only one lane and narrow sidewalks where, during these pre-Christmas days, it's difficult to navigate among the huge bags from top brands. Each store, however, is a beauty. A unique explosion of craftsmanship and luxury with prices impossible for the common mortal. Is everything haute couture? Almost, with the exception of high-end pastry, such as the classic Pasticceria Marchesi, although it now belongs to Prada.
It wasn't always like this, of course. Montenapoleone's rise as an undisputed bastion of shopping has been happening for half a century now. Before that, it had already written several pages in the city's history. In Roman times, it followed the city walls' layout, and in the Middle Ages, it was filled with convents. It is said that in one of them, Giuseppe Verdi, who lived in the neighborhood, created Nabucco. The poet Tommaso Grossi also lived on the same street. And when Napoleon conquered Milan at the end of the 18th century, he decided to name a bank located on that street after himself. That's how the street's name stayed forever. The splendid palaces from the 19th century, such as Carcassola Grandi, Vidiserti Dozzio, or Gavazzi... now house the famous stores. In fact, one of the most talked-about acquisitions this year was a building for which Kering, the luxury conglomerate that owns Gucci, paid a whopping ¤1.3 billion.