Weekly Retail & Leisure News - 01 December, 2014
London continues to rank as Europe's most attractive city for international retailer location and expansion according to new research from JLL. Destination Europe 2015 examines the expansion and presence of 250 of the world's leading international retailers, across 57 key European cities. The report highlights that tourism levels, maturity, market transparency and size of its retail market combine to ensure that London remains ahead of the chasing pack. The UK capital continues to act as an entry point to Europe for international brands, with J Crew, Tom Ford, DSquared2, The Toy Store, John Varvatos, Karl Lagerfeld and West Elm being some of the latest entrants.
Further evidence for London's leading position as an international retailer destination can be found in Spanish footwear brand The Seeker's announcement to open its first UK store in London's Seven Dials. Landlord Shaftesbury has agreed a deal with the unisex brand for a 928 sq ft store at 55 Neal Street, which is due to open before Christmas. The Seeker plans to use the Seven Dials location as a base for expansion into Paris, Berlin and throughout Europe. JLL Central London Retail team acts for Shaftesbury in Seven Dials.
In other positive news for the UK retail market, Fortnum & Mason, the luxury food and gift retailer, has reported its highest profits in its 307-year history with its first new stores in hundreds of years contributing to a doubling of profits. The London store reported pre-tax profit rising 111% year-on-year to £3.8m. Sales rose 14% to £74.4m in the year to July 2014, building on a 10% increase in the previous year in spite of weaker spending from tourists.
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Director, Head of Retail Research (UK & EMEA)
+44 (0)20 3147 1155
Director, Head of UK Retail & Leisure
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