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London gains popularity among international luxury brands

By May-Anne Oltmans


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The year 2015 is a highlight for London in terms of international luxury fashion store openings. Real estate services provider Savills reported that three international luxury brands have opened a store and that four more brands will follow later this year.

"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 ,” said Marie Hickey, director of research at Savills. The three luxury brands that have opened their first UK store in London this year include Balmain, Alexander Wang and Versus Versace. Anthony Selwyn, head of central London retail at Savills, added: “London continues to be a global ‘shop window’ for retailers and provides a strong international platform to showcase brands, not just generate sales. Looking ahead, we anticipate more European and international retailers will want to expand into London.”

In total, London has welcomed fifteen new international retailers this year. Brands include Lindex, IWC and DSqaured. For the remaining months of the year there are thirteen more store openings due, leading to a total number of store openings of 28. In 2014 there were 33 new retail entrants and in 2013 this number amounted to 31. According to Savills, this development illustrates an availability constraint rather than a reluctance of international brands to enter the British market.