New West End Company news and archive

Oxford Street pedestrianisation project receives public backing

Mayor of London Sadiq Khan’s plans to pedestrianise iconic shopping street Oxford Street are set to go ahead after receiving backing from both the public and local businesses. A consultation addressing the project found that around seven in ten parties supported Khan’s transformation plans, while two-thirds specifically approved of the...

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Business

Report: Business rates increases could put at risk over 600 high street units

A new report by High Streets UK, a lobbying group established by the New West End Company (NWEC), has said that the incoming increase to business rates could put over 600 trading units on flagship UK high streets at risk, with over 200 facing permanent closure. The data was collected from a survey of 115 high street businesses, which cited...

Fashion |Beauty

Chanel lights up New Bond Street in London

French luxury fashion and beauty house Chanel has switched on an exclusive Chanel N°5 light installation on Mayfair’s New Bond Street in London in collaboration with New West End Company. The Chanel Christmas light installation runs from Piccadilly to Oxford Street on New Bond Street and has been made from recyclable aluminium with 85,750 LED...

Retail

West End retailers miss out on 220 million pounds due to 'tourist tax'

It is no secret by now that retailers across London remain unhappy about the UK government’s decision to scrap tax-free shopping incentives for tourists. The resulting impact of the move was further emphasised in a new report by the New West End Company (NWEC), which represents the retail landscape for the West End district of London. In its...

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Business

New West End Company unveils manifesto “for growth” ahead of general election

The New West End Company (NWEC), which represents more than 600 UK and international firms in London's West End, has unveiled a new manifesto laying out policy priorities and recommendations for the future government ahead of the upcoming general election in the UK. The manifesto has been built on insights from its hundreds of members to outline...

Retail

NWEC: Oxford Street brings in highest sales of West End

Amid an ongoing rejuvenation of the famous shopping destination, the landlord of Oxford Street has shared data that shows such investments are beginning to pay off. New research carried out by New West End Company (NWEC) and property firm Colliers has said that Oxford Street was the “largest single component of the West End, both in terms of...

Retail

West End spend declined during festive season despite YoY footfall growth

New figures by the New West End Company (NWEC) have reflected an increase in footfall in contrast to a decline in spending, yet the company cited the festive season’s performance as “resilient”. Over the period, footfall was up 3 percent year-on-year, while spending decreased by 1 percent, driven by lower than expected domestic spending caused...

Retail

Boxing Day footfall up 5 percent in London’s West End

The festive season has rounded off on a positive note for London’s West End district, with Boxing Day footfall up 5 percent on 2022 levels, continuing the “buoyant” atmosphere seen throughout December as a whole. During the month, footfall grew 20 percent compared to November, and rose 6 percent compared to December last year. The New West End...

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Business

West End hit by ‘tourist tax’ despite rising footfall, new data suggests

London’s West End is feeling the impact of the UK’s ‘tourist tax’ despite an increase in footfall, new data suggests. While the iconic luxury shopping hub is enjoying a continued return of tourists following the end of lockdown restrictions, the gap between footfall and spend has widened in the second quarter when compared to pre-pandemic...

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Retail

Small businesses offered rent-free stores on Oxford Street

A new project launched by Westminster City Council, in partnership with New West End Company, is offering small businesses rent-free shops on Oxford Street in London looking to offer “something unique” to boost the shopping area. ‘Meanwhile On: Oxford Street,’ builds on previous pilot schemes in the area offering short-term pop-up spaces and is...

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Retail

West End forecast to achieve 10 billion pound turnover by 2025

London’s West End is expected to see revenues rise up to 10 billion pounds by 2025, despite a slowdown in recovery over the next two years. The figure comes as part of a new report by the New West End Company (NWEC), which represents retail, leisure and property owners across the areas of the West End, covering both the long-term forecasts and...

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Retail

West End sales to hit 1.55 billion pounds during ‘challenging’ festive season

In the build up to the first restriction-free Christmas in three years, British retailers could still be facing a number of headwinds brought on by the rising cost of living and the continued absence of international travellers. In London’s West End, forecasted sales are expected to hit 1.55 billion pounds, 28 percent less than the pre-pandemic...