Retail movement over the coming year
By FashionUnited
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Luxury
Whilst niche luxury brands such as Oswald Boateng on Savile Row plans a £150m expansion to the company. Each store launch will cost £1.5m on average and will be planned and funded under a joint-venture or franchise model. The move will be a major boost for the UK's luxury brand sector. Mr Boateng runs his successful retail business from his menswear shop on Savile Row, London, and played a significant role in revolutionising men's fashion when he first launched in the 1990s.
Whilst on the high street, gloom set in as multiple companies went to administration including notably La Senza, which has closed 80 shops and could see job losses of around 40,000. Other retailers to have gone into administration include D2 jeans, Barratts shoes, and Hawkins Bazaar.
However high street hope comes from department store, John Lewis, which reported according to managing director, Andy Street, ‘cracking trade.’
2012 looks set to be an interesting and unpredictable year from a retail perspective.