Global brands target London
Published: 06 December, 2016
CBRE research highlights wave of new entrants to London
Over 75 new retail entrants have been drawn to London in 2016, with the prime streets in Mayfair and Chelsea proving to be a magnet for luxury brands, according to new research from CBRE.
Two thirds of these new entrants were European, with 16 from the UK, 11 from France and nine from Italy. These included leading French fashion brands Vanessa Seward, IKKS and BA&SH and Italian menswear brand Stefano Ricci.
From the US, sportswear brand New Balance opened its first UK flagship with a 12,570-sq ft store on Oxford Street, while the Dominique Ansel Bakery was one of six US brands making up the 13 new entrants from the coffee and restaurant sector.
CBRE’s research assessed the number of new retailers, both domestic and international, entering the Central London market with their first Central London store during 2016. The trend supports the reputation of London’s retail property as a safe haven for investors and 2016 is set to be a record year for London retail, with investors expecting to acquire more than £2bn worth by the end of December.
Phil Cann, Head of UK Retail at CBRE said: “London remains the most attractive destination for a first UK presence, and the range of retailers expanding their portfolios here is proof of the capital’s draw. Despite perceived high rental levels and competition for space, as well as any uncertainty immediately after the vote to leave the EU, retailers will always look to the areas and streets which best reflect their brand and allow them to develop their offering and reach new audiences.”