The Financial Times says luxury retail establishments seek out the halo of other services and vendors, especially art galleries:

Jones Lang LaSalle, the property group, published a report last year that agreed. Its analysts pointed to six ways in which London’s so-called luxury quarter – Bond Street, New Bond Street and their side streets – distinguished itself from other luxury retail destinations around the world. These included its top hotels and restaurants, private member clubs and casinos, luxury homes and office accommodation (particularly for hedge funds), and, finally, the art, in the form of the Royal Academy of Arts, art fairs held in the area, and nearly 90 galleries and dealers.

Retail: Trend grows for proximity to art and luxury (Financial Times)