BCSC 2015: Four international luxury retailers will open their first UK shops in London by the end of 2015, making it a new peak in international fashion openings in the capital, according to predictions by Savills.
According to the company’s research, three international fashion brands have opened their first UK stores in London this year, including Balmain, Alexander Wang and Versus Versace.
Marie Hickey, director of research at Savills, said: “In 2012 only one international luxury fashion brand opened in London and last year there were six. We expect a total of seven to open by the end of 2015 including brands Erdem and Aquazzura.
“Availability constraints on Bond Street, the traditional first point of call for any new luxury entrant, have meant an increasing number of brands looking to new emerging luxury destinations for opportunities. All four of the new luxury openings expected by the end of this year will be on pitches within the wider luxury quarter of Mayfair such as Albemarle Street and South Audley Street.”
The international real estate adviser reports there have been 15 new international retail entrants in the London market so far this year including Lindex, IWC Schaffhausen, Billionaires Boys Club, DSquared and Cuple.
There are a further 13 due to open by the end of the year, totalling 28. This compares with 33 new entrants in 2014 and 31 in 2013.
Savills notes the gradual decline in new entrants tends to reflect availability constraints rather than a softening in appetite from international brands to enter the UK market.
