NWEC news and archive

Spring Budget a ‘missed opportunity’ for businesses, say retail bodies

British retail bodies say the government has missed a key opportunity to offer more support for businesses with its Spring Budget, as there were no changes to VAT-free shopping, Sunday shopping hours, or business rates. UK chancellor Jeremy Hunt revealed his Budget in the House of Commons on Wednesday, which included various measures to support...

RetailFeatured

London’s West End to return to historic annual turnover by 2025, report says

London’s West End is expected to recover to its historic annual turnover of over 10 billion pounds by 2025, according to an updated report by global property consultancy firm Colliers. The report, commissioned by New West End Company (NWEC), said that while recovery has slowed due to “economic uncertainty”, the district is still on track to hit...

BusinessFeatured

Plan to ‘reinvigorate’ London's iconic West End revealed

A new five-year plan to “reinvigorate” London’s iconic West End shopping district has been revealed by The Heart of London Business Alliance (HOLBA). HOLBA, which represents 500 businesses in the Piccadilly & St James's and Leicester Square areas, said the plan includes over 40 potential projects “designed to preserve and enhance the unique...

BusinessFeatured

London’s West End on track to recover within two years, report says

London’s West End is expected to make a speedy recovery from the pandemic as consumers return to the luxury shopping hub, according to a new report. The upmarket district in Central London, which prior to 2020 was one of the world’s most popular hotspots for deep-pocketed tourists, is on track to achieve turnover of 8.6 billion pounds in the...

Retail

New West End Company calls for urgent government support

As retail reopens in England and Wales, the New West End Company, which represents London’s West End shops and hospitality venues, is calling on the government to offer urgent target support to help businesses recover from what it calls the “devastating impact of successive lockdowns”. New West End Company, which represents 600 businesses across...

RetailFeatured

London's West End urges more government action, warns 50,000 jobs could be lost

The New West End Company (NWEC) is calling for more clarity from the government concerning post-lockdown measures, and for tax-free shopping for European tourists, warning that without such actions the area faces a huge drop in sales and jobs. The company, which represents 600 businesses in affluent shopping areas in London such as across Oxford...

Retail

Black Friday sales to grow 9 percent in West End

Black Friday weekend sales are expected to grow by 9 percent year-on-year, despite declining footfall, according to the latest insights from the New West End Company, which represents 600 businesses across London’s West End. Although the multi-year trend of declining footfall on Black Friday is expected to continue due to low consumer confidence...

Retail

London’s West End to get 2.5 billion pound Christmas boost

Over the eight-week Christmas trading period, shoppers are expected to provide a 2.5 million pound boost to London’s West End, according to the latest insights from New West End Company, which represents 600 businesses across the area. The business partnership reveals that 42 million shoppers from home and abroad are expected to visit Bond,...

Retail

New vision for London's Oxford Street unveiled

The New West End Company, which represents 600 retailers in London’s West End has unveiled a new vision for Oxford Street that it believes will allow the district to “realise its full potential” as well as create 27,000 new jobs. The vision was unveiled in its business study, A Future for the Oxford Street District, and includes recommendations...

RetailFeatured

London's West End had 'remarkable' retail summer

London - The hot weather, the launch of the night tube and a fall in the value of the sterling all contributed to London's West End enjoying 'a remarkable summer, with a 400 million pound total spent in July," stated Jace Tyrell, chief executive of New West End Company (NWEC). “Tourists are evidently still keen to cash in on the weak pound and...

People

New West End Company appoints CEO

New West End Company (NWEC), the organisation representing 600 businesses in London's Bond Street, Oxford Street and Regent Street, on Friday announced Jace Tyrrell to the position of chief executive. Tyroll was previously the company's Deputy CEO. According to statement released by the Company, Under Tyrrell’s leadership, NWEC has become the UK...

RetailFeatured

West End retailers poised best Christmas since 2007

Retailers across Oxford Street, Bond Street and Regent Street are gearing up for a bumper Christmas, as spending is predicted to reach over 2.3 billion pounds over the festive period, which could make this the best Christmas since 2007. The predictions from the New West End Company (NWEC), which represents over 600 businesses in the area, states...