Ginza Bonanza

High fashion: Armani's 12-story tower offers clothing, food and furnishings

Tokyo's Ginza district is rarely associated with bargain real estate, but the tender yen is making the area tempting for big brands looking to flaunt themselves. Last month, Bulgari and Armani opened lavish new premises, with Armani's — standing 12 stories high — clinching the battle of shock and awe. While admitting that the market "isn't brilliant," John Hooks, Armani's deputy managing director, says that the brand senses potential. "The yen is weak, costs [are] less, so this is the time to invest in Japan."

Like Armani's other "concept stores" in Milan, Munich and...

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