Milan’s Via MonteNapoleone usurps New York’s Fifth Avenue as world’s most upscale shopping street

MILAN (AP) — Shoppers laden with bags from Fendi, Loewe, Prada and other designer labels clog the narrow sidewalks of Milan’s swankiest shopping street, bringing joy to the purveyors of high-end luxury goods this, and every, holiday season.

There’s even more to celebrate this year: a commercial real estate company has crowned Via MonteNapoleone as the world’s most expensive retail destination, displacing New York’s Fifth Avenue.

The latest version of American firm Cushman & Wakefield’s annual global index...