Retail Market Study Europe 2014

Transcription

1 locationgroup research. 6 th Edition EUR 195. EUROPE EUR 195. AMERICAS EUR 195. ASIA & PACIFIC, MIDDLE EAST + AFRICA EUR 499. FULL EDITION Retail Market Study Europe 2014 locationgroup 150 GLOBAL CITIES 500 SHOPPING MALLS 800 HIGH STREETS 1,000 RETAILERS 1,500 Pages 3,000 STORE OPENINGS 100,000 READERS REACHED SO FAR HOLIDAY RESORTS, EXPANSION PLANS, M&A TRANSACTIONS

2 The Luxury Location Specialists s Via Serlas 22 St. Moritz Maximilianstrasse 16 Munich Via Serlas 26 St. Moritz Geneva & Zurich Bahnhofstrasse Zurich Summer 2014 I Retail Advisor Summer 2012 I Retail Advisor Autumn 2012 I Retail Advisor Spring 2006 I Retail Advisor Spring 2014 I Retail Advisor s s Geneva, Munich, St. Moritz, Zurich Bahnhofstrasse 40 Zurich P.C. Hooftstraat 124 Amsterdam Crystals Mall, Las Vegas Zinnengasse 4, Zurich Maximilianstrasse 25 Munich I Retail Advisor Spring 2005 I Retail Advisor Spring 2013 I Retail Advisor I Retail Advisor Autumn 2010 I Retail Advisor s Strategic Advisory s Marktgasse 19 Bern Athens, Budapest, Düsseldorf, Kolonaki, Munich, Stockholm, Warsaw Bahnhofstrasse 28a Zurich Bahnhofstrasse 44 Zurich Kampen/Sylt, Kitzbühl, Zermatt Spring 2011 I Retail Advisor I Retail Consultant Autumn 2010 I Retail Advisor Spring 2014 I Retail Advisor Summer 2011 I Retail Advisor Geneva & St. Moritz Rennweg 23 Zurich Kuttelgasse 17 Zurich Amsterdam, St. Moritz & Zurich Rue du Rhône 62 Geneva I Retail Advisor Autumn 2007 I Retail Advisor Summer 2009 I Retail Consultant Winter 2013 I Retail Advisor Spring 2011 I Retail Advisor Store Letting s Lausanne Zurich Store Letting Rue du Rhône Geneva Promenade Gstaad Location Consulting s Munich, Lausanne, Zurich Summer Rue 2011 du I Retail Rhône Advisor Geneva Summer 2008 Promenade I Landlord 50 Advisor Gstaad Amsterdam, Antwerp, Brussels, Copenhagen, Summer2012 Geneva, I Retail Advisor Ginza, Lugano, Manhasset, Miami, Vienna, Zermatt Poststrasse 10 Zürich I Retail Advisor Summer 2008 I Landlord Advisor Winter 2012 I Retail Advisor I Retail Consultant Winter 2013 I Retail Advisor Kurfürstendamm Berlin Bahnhofstrasse 38 Zurich P.C. Hooftstraat 63 Amsterdam via Serlas 28 St. Moritz Summer 2012 I Retail Advisor Summer 2011 I Retail Advisor Spring 2014 I Retail Advisor Spring 2014 I Retail Advisor The Location Group I Amsterdam I Geneva I Gstaad I Hanoi l London I Munich I New York I St. Moritz I Zurich I T I

3 Publisher: LOCATION GROUP AG, Rennweg 58, CH-8001 Zürich T +41 (0) , F +41 (0) info@location.ch Internet: LOCATION PREMIUM, LOCATION LUXURY, LOCATION INVESTMENT, STREETFRONT, Layout: Geyst AG, Zurich, Front cover picture: Avenue des Champs-Élysées, Paris Back cover picture: Regent Street, London Print & Editorial: HP Media Group GmbH, Press date: 13 th February 2014 Price: Retail Market Study Europe 2014 : Retail Market Study Middle East, Asia & Pacific and Africa 2014: Retail Market Study North & South America 2014: Retail Market Study Full Edition 2014: 195 Euro (incl. VAT) 195 Euro (incl. VAT) 195 Euro (incl. VAT) 499 Euro (incl. VAT) Orders: By fax +41 (0) , by at research@location.ch or Disclaimer: This document was compiled by THE LOCATION GROUP Research Team and is not the result of our location or financial analyses. This publication is for information purposes only and was compiled on the basis of accessible information. The ideas and opinions expressed herein are those of THE LOCATION GROUP Research Team at the time of printing (and are subject to change without notice). This publication may be quoted provided it is cited as a source. We ask for a sample copy. Copyright 2014: THE LOCATION GROUP AG and/or its affiliates all rights reserved. The information contained in this publication is based on accessible sources that we consider to be reliable. We give no guarantee for the correctness and completeness of this information. We accept no liability for the use of this report or its contents. Visit us on the Internet at: or locationgroup research Retail Market Study 2014

4 Foreword For the sixth time in succession THE LOCATION GROUP publishes its unique Retail Market Study. The last year s edition had a size of nearly 1,000 pages. This year we cover the retail development of the 150 most important cities for fashion retail worldwide. It is reflected in the size of 1,500 pages and covering more than 3,000 store openings. We decided to split the book into three parts: In the first book we cover the retail development in Europe. Additionally we included the development in the Holiday resorts worldwide. The second book includes Middle East, Asia and Pacific, and Africa. Information on North and Latin America is available in book three with two specials, the Retail M&A Deals and the Retailers Expansion Plans. All three books together form the Retail Market Study For this third worldwide report of its kind, THE LOCATION GROUP again scouted all highly frequented retail locations and shopping malls worldwide. The previous reports reached 100,000 readers so far. The very positive feedback and numerous requests we received on the 2012 and 2013 reports prompted us to extend our study to cover over 800 high streets and 500 shopping malls. little less than Asia and Latin America. This trend is reflected in an enormous increase in the premium and luxury shop openings. For nine years THE LOCATION GROUP has been one of the leading international retail real estate boutique agencies for tenants, owners, and investors of retail properties and shopping centers worldwide. All data compiled in the Retail Market Study is the fundamental base for our new online website project with the goal to bring today s offline retail real estate world online. Retailers, landlords, investors and brokers can expect the launch of our online database soon. THE LOCATION GROUP wishes you an enjoyable reading experience and we do hope you will find this years report both informative and enjoyable. European premium and luxury retailers are expanding rapidly into Asia and Latin America. Africa is also a target for expansion but a Marc-Christian Riebe CEO, President and Founder locationgroup research Retail Market Study 2014

5 Table of Contents VOLUME 1 Europe i ii Imprint Foreword Continental Europe Overview Europe Page 10 Overview Switzerland Page 12 Zurich Page 14 Geneva Page 22 Lucerne Page 28 Lugano Page 30 Swiss Department Stores Page 32 Swiss Shopping Malls Page 34 Swiss Retail Real Estate Investments Page 42 Swiss M&A Deals Page Overview Germany Page 50 Berlin Page 52 Munich Page 62 Hamburg Page 70 Cologne Page 76 Frankfurt Page 82 Stuttgart Page 90 Düsseldorf Page 92 German Shopping Malls Page 98 German Retail Real Estate Investments Page 104 German M&A Deals Page Overview Austria Page 120 Vienna Page 122 Salzburg Page 128 Innsbruck Page 130 Austrian Shopping Malls Page Overview United Kingdom Page 140 London Page 146 Dublin Page 190 Edinburgh Page 194 Glasgow Page Overview Western and Southern Europe Page 202 Paris Page 208 Brussels Page 236 Antwerp Page 240 Amsterdam Page 246 Milan Page 254 locationgroup research Retail Market Study 2014

6 Rome Page 274 Florence Page 290 Venice Page 294 Barcelona Page 298 Madrid Page 308 Lisbon Page Northern Europe Overview Northern Europe Page 324 Copenhagen Page 332 Oslo Page 338 Stockholm Page 342 Helsinki Page Eastern Europe Russia Page 354 Moscow Page 362 St. Petersburg Page Overview Eastern Europe Page 374 Kiev Page 378 Tallinn Page 382 Riga Page 384 Vilnius Page 388 Warsaw Page 390 Prague Page 396 Budapest Page 402 Bucharest Page 406 Almaty Page 410 Baku Page Southeast Europe Overview Southeastern Europe Page 416 Athens Page 426 Belgrade Page 428 Skopje Page 430 Zagreb Page Specials European Shopping Malls Page 434 European Retail Estate Investments Page 446 locationgroup research Retail Market Study 2014

7 Continental Europe 28 London LONDON is the capital city of England and the United Kingdom. London has an official population over 8.3 million, making it the most populous municipality in the European Union; this number accounts for 12.5%. of the UK population. The Greater London Urban Area is the second largest in the EU with a population of 9.8 millions according to the 2011 census, while the London metropolitan area is the largest in the EU with a total population of 13,614,409; the Greater London Authority puts the population of London metropolitan region at 21 million. London is a leading global city. It is one of the world s leading financial centres and has the fifth or sixth largest metropolitan area GDP in the world depending on measurement. London is a world cultural capital. It is the world s most-visited city as measured by international arrival and has the world s largest city airport system, measured by passenger traffic. Old Bond Street Vacheron Constantin settles on Bond Street By the end of June 2013, the oldest watch company in the world Vacheron Constantin was the newest addition to London s esteemed Bond Street. The brand-new shop opens up the rich and beautiful world of this Geneva watch house to its British and inter- national clients. The Old Bond Street 37 venue which totals 800 square feet, arranged over two floors, features a gentlemen s club-style lounge, a private VIP area and an in-store watchmaker. McQueen s flagship reopened for London Fashion Week Alexander McQueen s womenswear flagship on Old Bond Street 4 5 reopened on 13 th September, the first day of London Fashion Week. Set over two floors, the 2,690-square-foot shop was designed by the Location Average Average prime Rents/sqm/ Prime Rents/sqm/ year in Euro month in Euro New Bond Street 16,038 1,337 Old Bond Street 13,634 1,136 Sloane Street 10, Oxford Street 10, Covent Garden 9, Regent Street 8, Brompton Road 8, King s Road 5, Mount Street 5, Skyline, London 146 locationgroup research Retail Market Study 2014

8 Continental Europe late interior designer David Collins, who created the brand s menswear store on Savile Row. Dover Street New Saint Laurent concept store opened London was one of the first cities to experience Hedi Slimane s new concept stores for Saint Laurent. Situated in the achingly cool Dover Street Market department store, the new space houses both the men s and women s ready-to-wear accessories, making it an ideal one-stop shop for all things Saint Laurent. A.P.C reacted against landlords-forced store closure The French label A.P.C has launched a limited edition collection of jeans bearing the subtle slogan Down By Law as a reaction against the label s former Mayfair store landlords, who raised rent rates forcing the shop to close earlier in February Vacheron Constantin, Old Bond Street, London The brand also opened a dedicated space in Dover Street Market in the same month on the same street as its former-defunct boutique. The denim motif is a nod of appreciation towards the avant-garde luxury department store for its support. Being at Dover Street Market is almost a military thing a tactical move, A.P.C creative director Jean Touitou said. We were pushed to leave our own location for some sort of vulgar real estate business reason. But we still have the APC flag on Dover Street. Whistles opened Dover Street store Whistles debuted its collection during the London Fashion Week and opened a new store on Dover Street 30 in late January The high street fashion retailer displays the latest collections in its new store, together with the Limited Edition range as well as select pieces from their core offering. Alexander McQueen, Old Bond Street, London Jimmy Choo s new address Jimmy Choo opened a men s flagship store on Dover Street 35 in April Moving three streets up from its former home in Burlington Arcade, the all-new 1,200-square-feet store is spread over two floors, showcasing the complete men s collection including shoes, scarves, and leather goods. Other new Jimmy Choo s openings in Europe during 2013 included a mono-brand store in Prague. The US is Jimmy Choo s best- covered market, with over 30 mono-brand stores and outlets in all major luxury department stores. Victoria Beckham officially signed deal for her first store The former Spice Girls star has picked a location on Dover Street 36, a short walk from glitzy Old Bond Street in the heart of London s fashion district, as the location for her store. Whistles, Dover Street, London locationgroup research Retail Market Study

9 Continental Europe Chanel, New Bond Street, London 148 locationgroup research Retail Market Study 2014

10 The wife of soccer icon David Beckham promises to give fans a new opportunity to buy her clothing and handbags, which have previously only been available online or via selected outlets and department stores. The date of opening has not yet been confirmed. Conduit Street Christian Dior pays record rent F&C has let unit Conduit Street 16, Mayfair, London to Christian Dior, paying the highest rent yet seen on the street. The luxury retailer, which opened its first store in London on Conduit Street 60 years ago, has agreed a new 10-year lease on the 3,300-squarefoot store, arranged over basement, ground, and first floors. Dior will pay 308,500 Pounds per annum, which equates to 360 Pounds in zone A, the highest rent to date on the street. A substantial premium was also paid to fashion retailer Layers, which formerly occupied the unit. The street is one of the key locations close to Bond Street benefiting from fierce demand for space in the area from luxury retailers. Berluti s first London Maison A stone s throw away from Savile Row in London, Berluti has opened its first Berluti Maison. This marks one of a series of flagship openings in capital cities around the world. The men s brand led by Antoine Arnault has transformed one of its shoe boutiques, located on Conduit Street 43 in a Victorian building. The opening is actually a re-opening after months of renovations. The registered historic landmark formerly housed a one-floor Berluti store, offering bespoke shoes. The retail space covers 3,840 square feet and spans over three levels. Isabel Marant celebrates London store Isabel Marant s new London store is located on Bruton Street in Mayfair, one of the city s highest-octane shopping areas; but on 12 th December 2013, the designer indulged her liking for what she called hidden locations when she hosted a dinner to celebrate the opening. The designer took over an elegantly run-down eighteenth-century chapel in London s Covent Garden, with guests including Jade Jagger, Arizona Muse, Mary Charteris, and Tallulah Harlech. Jagger, wearing one of Marant s sequinned tanks, noted that she was a long-time Marant admirer. New Bond Street Patek Philippe expands its space The Swiss luxury watch brand has secured an agreement with Aurum Holdings and has taken over the leasehold of 16 New Bond Street, which was previously occupied by Watches of Switzerland, Aurum Holdings brand. New Bond Street 15 will be retained and the date for the beginning of the refurbishment and official inauguration of the new Patek Philippe London Salon is still to be confirmed. Chanel unveiled new London store On 10 th June 2013, Chanel unveiled its new London store, a 12,600-square-foot unit on New Bond Street directly across the street from Louis Vuitton s London flagship and neighbouring Dior. The boutique, at New Bond Street , is just a few doors away from Chanel s former space (at number 173) but it is far bigger, more imposing, and more luxurious. Continental Europe Berluti Maison, Conduit Street, London locationgroup research Retail Market Study

11 Continental Europe Breitling, New Bond Street, London Fendi s 80 million Pound flagship building up for sale Luxury Italian designer Fendi s flagship store on New Bond Street has been put up for sale for around 80 million Pounds. The rare New Bond Street asset in the heart of the West End s luxury retail patch is let entirely to Fendi UK, a subsidiary of LVMH Group, on a single lease expiring November The property is let at an initial rent of 2.1 million Pounds per annum, reflecting 836 Pounds per square foot zone A. The building is expected to have excellent prospects for future rental growth given that prime Bond Street rents now achieve 1,300 Pounds zone A.Bidders for the trophy property are likely to come from other premium brands, such as Louis Vuitton, the likes of which will be keen to jump at the rare opportunity to take a stake in London s fashion epicentre. Street 130, where the brand said it would be ideally positioned to target both domestic and international shoppers. The Swiss watchmaker is believed to be paying the landlord an annual rent of 1 million Pounds for the property previously owned by fashion retail Diesel. Victoria s Secret took over Bally store According to insiders, US lingerie giant Victoria s Secret is planning to expand its four-storey London flagship in 2014, having acquired the premises of Swiss luxury brand Bally, its New Bond Street neighbour. The Victoria s Secret store, which opened in August 2012 and sells the full range including Victoria s Secret Pink and Victoria s Secret Designer Collection, will add to its existing 40,386-square-foot floor space when it acquires Bally s 6,700-square-foot premises. Belstaff unveiled Belstaff has unveiled Belstaff House on New Bond Street, London, a 325-square-metre boutique on the first floor of the 25,000-square-metre historical building. The full range of Belstaff men s and women s ready-to-wear and accessory collections, as well as The Goodwood Sports and Racing Collection by Belstaff are available at the new flagship. The grand re-opening was celebrated on 15 th September 2013 with the attendance of super star David Beckham. Breitling opened UK flagship boutique In June 2013, Breitling opened its first UK flagship in London. The 2,700-square-foot two-floor shop is located at New Bond Bally will remain on the famous street but is moving further down to New Bond Street 45 46, a unit previously occupied by men s tailoring and accessories brand Avi Rossini. The three-level store, thought to be about 4,500 square feet, will open in the spring Ermenegildo Zegna to expand New Bond flagship store Italian luxury fashion house Ermenegildo Zegna has lodged plans for a major demolition and expansion of its shop on London s New Bond Street, drawing objections from neighbour Sothebys as well as English Heritage. Advised by Montagu Evans, Ermenegilodo Zegna has proceeded with the demolition and redevelopment of its building at New Bond Street to provide basement, ground, and four upper floors to use as retail accommodation. 150 locationgroup research Retail Market Study 2014

12 Dolce & Gabbana opened fourth store Italian luxury house of Dolce & Gabbana inaugurated its fourth store on 15 th June in London, at New Bond Street 53 55, where its concept D&G used to occupy. The new boutique of 8,290 square feet was part of the Group retail development strategy. Currently, Dolce & Gabbana operate three stores in London: Sloane Street 6 and 175 and Old Bond Street 6 8. Continental Europe Mount Street Roksanda Ilincic to debut London store London based designer Roksanda Ilincic has opened her first store at Mount Street 9 in London s Mayfair in early Housed in a historic Grade II listed building, the boutique marks a new chapter in the label s development. In terms of location, Ilincic is in good company other labels within the Mayfair area include Christian Louboutin, Marc Jacobs, Balenciaga, and Lanvin. Christopher Kane will also open his first store there before the end of Belstaff, New Bond Street, London Linda Farrow opened across the street from Marc Jacobs In August 2013, British eyewear brand Linda Farrow opened its first London store on Mount Street in Mayfair. The 386-square-foot unit is across the street from Marc Jacobs and not far from Nicholas Kirkwood and the soon-to-open Celine boutique. The shop, at Mount Street 91, has taken the former Aesop space and is designed by Elemental Design. Pringle of Scotland opened new store Pringle of Scotland opened a shop at Mount Street 94 in London s Mayfair in September The new store, in the former antiques space of Mount Street Galleries, spans 1,000 square feet with additional room to house the brand s wholesale showroom. The new space replaced Pringle s former space on Lower Sloane Street. Parmigiani opened a new atelier in the heart of Mayfair Parmigiani Fleurier is perhaps not the best known of watch names, but with the new Atelier Parmigiani boutique opened on Mount Street 97 in Mayfair, London, it is set to become a destination for horologists and those seeking a watch that is both luxurious and mechanically refined, but still known to only a few. This watchmaking haven supports Parmigiani s network of UK jewellers and opens up the world of haute horlogerie in the very heart of London. Parmigiani, Mount Street, London London launch was in the bag of Moynat France s richest man and luxury tycoon Bernard Arnault has brought his new luggage brand Moynat to the United Kingdom. The brand, which is owned by Groupe Arnault rather than LVMH, opened at Mount Street in Mayfair, just in time for Christmas Oscar de la Renta opened in London its largest store worldwide American fashion house Oscar de la Renta opened his first London store in mid-january 2013, the 3,000-square-foot boutique being the largest worldwide. The new Oscar de la Renta flagship in London is located in Mayfair at Mount Street 130, near to Marc Jacobs, Oscar de la Renta, Mount Street, London locationgroup research Retail Market Study

13 Continental Europe Christian Louboutin, and Balenciaga. It is currently the brand s largest and its third in Europe after Madrid and Athens. It was the firm s fourteenth store worldwide. Christopher Kane to make a debut in London Christopher Kane is to open its first store on Mount Street in Mayfair before the end of The label received investment from Kering earlier in 2013 and announced that a flagship store is high on its list of priorities as part of a plan to accelerate the labels expansion. The shop will join Alexander McQueen, Wolf & Badger, Loewe, and Christian Louboutin who all have retail outlets in the affluent borough. South Molton Street Bimba & Lola announced fourth store in London Bimba & Lola continues its growth in international markets. The company, immersed in a development plan outside the Spanish market, launched its fourth store in London in the third week of June 2013 and has exceeded 160 establishments in 17 countries. The new point of sale for Bimba & Lola in London is located at South Molton Street 15, in the area of Bond Street. The retailer has taken a 1,213-square-foot shop on a new ten-year lease at a rent rising to 185,000 Pounds per annum in the third year. The new store joins the other properties in Notting Hill (opened in April 2013), Chelsea and the shopping centre Westfield London. Hanro opened first store Swiss lingerie brand Hanro has signed a ten-year lease for a space on South Molton Street 6 once home to Moda In Pelle. The store, opened on 23 rd September 2013, covers a space of 928 square feet. This letting underlines the continued demand from international retailers for properties in the West End. South Molton Street is particularly attractive, and Hanro joins other new entrants including Bimba & Lola, Frey Wille, and Claude Pierlot. Davies Street French cashmere retailer to open first UK store French cashmere retailer Franck Namani is to make its UK retail debut with a flagship store in central London. The retailer will open a store at Davies Street 33 in June The 7,621-square-foot store will comprise of womenswear and menswear, and the lower ground floor will feature a bar. More openings David Marshall unveiled its first London store British jeweller David Marshall London opened its first London store in September The 800-square-foot space on Davies Street 43, Eton Shirts opened flagship in the heart of Mayfair Eton opened a flagship store in the heart of Mayfair with a beautiful new store on South Molton Street 53 in early April Eton s selected an elegant Georgian townhouse is divided to offer a 646-square-foot ground level that houses Eton s full collection of fine menswear. Eton, South Molton Street, London Oxford Street, London 152 locationgroup research Retail Market Study 2014

14 in Mayfair spans over two floors and houses the brand s fine jewellery collections, as well as offering a bespoke service. RAKE opened its ever first stand-alone store in London In March 2013, the British premium menswear label, RAKE, opened its studio store doors for the first time in London. Located on one of the most prestigious streets, Duke Street 77, Mayfair, the store features a full ready-to-wear collection on the ground floor and both made-to-measure and bespoke on the lower ground floor. Continental Europe Marylebone Street Conran shop revealed new stylish look in Marylebone British furniture, lighting and home accessories store, The Conran Shop, has revealed its redesigned store on Marylebone High Street 55, presenting a new retail concept that is set to position the store as a one-stop destination for contemporary living. Since opening his first store in 1973, Sir Terence Conran has transformed his business into a design empire with worldwide stores reaching from Paris to Tokyo. Hanro, South Molton Street, London Free People travels to United Kingdom Free People is exporting its bohemian, romantic sensibility to Europe. The retailer unveiled a pop-up shop at Selfridges in London on 17 th June that operated throughout the summer. At the same time, Free People opened a 700-square-foot showroom in an old carriage house off the nearby Marylebone High Street. The brand plans to open 75 points of sale in the United Kingdom and is also targeting Italy, Germany, Spain, and France. Oxford Street Oxford Street rebranded to drive retail growth Oxford Street has been undergoing a brand transformation to encourage retail growth and investment. The revamp was spearheaded by New West End Company, which represents over 600 retailers in London s West End, and was part of a 25 million Pound, fiveyear plan to maintain a world class shopping environment. The new brand identity, Ox St. and strapline It all starts here appeared across all marketing for Oxford Street from September 2013, including a refreshed website. Oxford Street topped 5 billion Pounds in sales A massive Oxford Street spending spree has sent store sales in 2013 racing past the 5 billion Pound barrier for the first time. A post-olympic tourism boom and recent improvements, such as a second Primark flagship store near Tottenham Court Road, have helped Europe s busiest shopping street see off the challenge from the two vast Westfield centres. The new record came as Britain s GDP growth in the second quarter was upgraded from 0.6 to 0.7%, raising hopes of a strong re - covery after five years economic stagnation. Turnover on Oxford Street with more than 300 shops on its mileand-a-half length was up 6.2% in the first half of the year and will break 5 billion Pounds by the New Year sales. It meant tills on Oxford Street alone take twice as much as the whole of England s second biggest city, Birmingham and two-and-a-half times the two Westfield malls. locationgroup research Retail Market Study

15 Continental Europe Primark, Oxford Street, London Arcadia JV gained Oxford Street revamp consent Sirosa and Sir Philip Green s Arcadia group have gained consent for their plans for a major redevelopment of the 300,000-square-foot Plaza shopping centre and offices on Oxford Street. The reconfiguration and refurbishment of the plaza at Colegrave House, Berners Street 70, include the creation of a new 73,500-squarefoot flagship retail store, an enlarged double height office reception and a range of retail and gym extensions as well as enlarged offices for the Arcadia Group, which occupies around 125,000 square foot of offices above the mall. The plans envisage reconfiguring and enlarging the shops in the Plaza on ground and first floor to create a large destination store. Additional offices of around 20,000 square feet would be provided by the partial infilling of the existing light wells and the conversion of former medical space and retail space at second floor. The office reception on Berners Street would be enlarged and there will be an extension to the Virgin gym at second floor. The entire food mall would be converted to retail use under the plans. The applicants are currently negotiating outstanding leases at the centre with a view to being able to deliver the reconfigured retail within five years. London s East Oxford Street to undergo radical transformation Over 220,000 square feet of potentially new and re-developed retail space is set to open up in London s East Oxford Street over the next seven years. The section of Oxford Street running from Tottenham Court Road to Poland Street will see the largest opening of retail space that the area has ever seen and will undergo a radical transformation. The arrival of the Primark store in East Oxford Street has marked a continuation of the strategy from the European brands and major UK retailers in which they bookend both ends of the street. Historically, these brands have not looked further east than Poland Street and Marks & Spencer s but with the arrival of Crossrail and promised redevelopment, brands are now considering all opportunities. Primark flagship to upsize on Oxford Street Primark is planning to expand its flagship store at the east end of Oxford Street by more than a quarter in 2016, following strong sales in its first year. The value retailer has signed a deal to extend its store at Oxford Street 14 28, near Tottenham Court Road tube station, by 40,910 square feet, taking the total size to 189,760 square feet. The new space is set to open in the first quarter of Office shoes launched London s flagship High street footwear retailer, Office, announced the opening of its new flagship store on 1 st August Located on Oxford Street East as part of the regeneration at this end of Oxford Street, the 1,549-square-foot retail space houses the autumn collection, alongside exclusive styles from brands including Converse, Nike, Underground, Dr Martens, and Jeffrey Campbell. Debenhams revamped dramatically its Oxford Street flagship exterior Department store Debenhams dramatically revamped the exterior of its flagship on London s Oxford Street for the first time in the shop s 41-year history. The 200,000-square-foot department store, owned by British Land, was revitalised using an innovative over-cladding system that aimed to create a Kinetic Façade, which moved in response to the wind. The re-opening ceremony took place in November locationgroup research Retail Market Study 2014

16 HMV s Oxford Street flagship to become a Sports Direct Sports Direct, the company led by Newcastle United owner Mike Ashley, will open a new superstore at 150 Oxford Street, the current site of HMV s London flagship. Mr. Ashley has struck the deal with HMV s administrator, Deloitte for the lease on the 60,000-square-foot store. He was also understood to have paid a premium of between million Pounds for the Oxford Street shop, which is owned by Langham Estates and has an annual rent of around 3.2 million Pounds. small. Jane Norman has been eyeing a 3,000-square-foot flagship to fit in its growing ranges and brands. The line s unique products have attracted international shoppers and the double-digit growth generated in some overseas regions has offset difficult trading in the United Kingdom. Jane Norman has been reviewing its entire UK estate, while it has ambitious expansion plans internationally. In the next two years, it is aiming to double its number of international stores and concessions to 400. Continental Europe Sports Direct already has a smaller presence on Oxford Street with a store in the Plaza shopping centre nearer Tottenham Court Road. This outlet seems likely to close when Sports Direct opens up in HMV s former home. Carphone Warehouse sold flagship store to G-Star Raw G-Star has agreed to pay Carphone Warehouse more than 2.5 million Pounds to take on the lease to its store at Oxford Street , which is next door to John Lewis. HMV s financial woes have forced it to scale back its ambitions. The group agreed in June 2013 to take over the lease on a smaller space on Oxford Street 363 occupied by the retailer Foot Locker. Jane Norman pulls out of Oxford Street store as it seeks global flagship Jane Norman shuttered the 262 Oxford Street site in September It was understood that the store was profitable. It was not disclosed which retailer is set to take the store on. The 52-store fashion retailer, which is owned by Edinburgh Woollen Mill, was thought to deem the existing stores, which each covered about 1,000 square feet, too The store will be G-Star s first wholly controlled site in the United Kingdom and is part of a major expansion push by the Dutch retailer. At present, it has only a small collection of franchise stores, including locations in Soho and Westfield Stratford City. The price agreed for the store is the same as Sports Direct paid to acquire HMV s flagship store on Oxford Street, despite the fact that the Carphone Warehouse site is a fraction of the size. Carphone Warehouse was founded by Sir Charles Dunstone in It opened the 4,000-square-foot flagship Oxford Street store in 2002 Debenhams, Oxford Street, London locationgroup research Retail Market Study

17 Continental Europe and at the time claimed it was the largest mobile communications store in Europe. HMV returned to original Oxford Street home Hilco, a restructuring specialist, which paid an estimated 50 million Pounds to buy HMV out of administration in April 2013, has considered a new base for the entertainment specialist. The firm has moved the retailer into the 20,000-square-foot store at Oxford Street 363, which was formerly occupied by US footwear chain Footlocker. has now exchanged contracts on the store s lease, subject to landlord approval. The store opened doors on 28 th September River Island announced new flagship store River Island opened a new flagship store in the Park House building on London s Oxford Street on 8 th June, which features a large menswear department. The store is spread over three stories and 20,000 square feet of space, stocked with a variety of clothes, shoes, and accessories. The move was a trip back down memory lane for HMV, as its first ever store opened on the same spot back in It was thought that HMV Land Securities forwards sold its 310,000-square-foot retail, office, and residential development at Park House, Oxford Street 453/497, London, to Barwa Real Estate in Other tenants include Zara, Bershka and Urban Outfitters. Pandora opened largest global store at Park House, Oxford Street Pandora launched a brand new global flagship store on London s Oxford Street 465 in September 2013, marking the largest Pandora concept store in the world. The new store is located in the brand new Park House building, between Bond Street stations and Marble Arch on what is the busiest shopping street in central London. The 2,152-square-foot retail space is housed over two floors, designed by Grapes Associates, who have initiated a brand new style of Pandora store design, the first of its kind in the United Kingdom. Park House, Oxford Street, London The new store was the 106 th Pandora concept store to launch in the United Kingdom. Pandora currently operates a smaller concept store Christian Louboutin, Selfridges, London 156 locationgroup research Retail Market Study 2014

18 Continental Europe J.Crew, Regent Street, London close to Oxford Circus, as well as a space in House of Fraser s flagship department store on Oxford Street. has moved just around the corner to a more prominent position at New Oxford Street 78. Swatch group opened its second Hour Passion store Following on from the success of its Gatwick Airport store, Swatch Group announced the opening of a second Hour Passion multi -brand store on London s Oxford Street in June Located on the corner of Oxford Street and Balderton Street, the concept store is divided across two levels, with a total surface area of 2,906 square feet. Morrisons picked up pace in London On 25 th July, Morrisons opened its first central London Morrisons M local convenience store, a conversion of a former Jessops unit on New Oxford Street The new 5,600-square-foot store, just east of Centre Point and the Tottenham Court Road station regeneration area, is the firm s first in central London. Morrisons property requirements are nationwide and span from 2,000-square-foot net sales (3,000-square-foot gross) convenience stores through to 40,000-square-foot net sales (75,000-square-foot gross) superstores. Its total store portfolio stands at more than 27 million square feet across the United Kingdom. Sally Salon Services moved to New Oxford Street Sally Salon Services, a subsidiary of the world s largest supplier of professional hair and beauty products, SHB Inc., opened a new flagship store on London s Oxford Street on 21 st August After 22 years at Shaftesbury Avenue 81, where they served countless salons in the Soho area, the hair and beauty wholesaler Spread over three floors, the new space has two floors dedicated to professional products as well as a mezzanine dedicated solely to electrical appliances. Oxford Street Selfridges Department Store Selfridges unveiled Denim Studio A denim wave has washed over Selfridges, from food to beauty to women s wear, to mark the launch of The Denim Studio; a space the store labelled the biggest denim destination in the world in early June Selfridges is aiming to raise the retail bar with a high-to-low denim offering that ranges from J Brand to Primark and services such as on-the-spot alterations and customisations, a personal shopping service and supermarket-style, self-operated tills. The store has invested 6 million Pounds or 9.1 million US Dollar at current exchange, setting up The Denim Studio, a 26,000-squarefoot space that encompasses the former children s department. The vast corner area, which looks onto Oxford and Orchard streets, benefits from natural light and old, original features, such as leaded panes and mouldings. The Denim Studio stocks 100 brands and also house boutiques for J Brand, the label s first, Primark, COS, American Apparel, and the British active wear retailer Sweaty Betty. locationgroup research Retail Market Study

19 Continental Europe Hackett London, Regent Street, London 158 locationgroup research Retail Market Study 2014

20 Christian Louboutin opened men s boutique Luxury footwear label Christian Louboutin has recently opened a new men s boutique in London s Selfridges. The space occupies 548 square feet within the department store s men s shoe department, the largest retail space in the world dedicated to men s footwear. The new Christian Louboutin boutique stocks shoes, bags, and small leather goods for men. Louis Vuitton shoe boutique Louis Vuitton has opened doors to a dedicated footwear boutique in Selfridges. Like Christian Louboutin, the opulent brand has found abode within the existing Shoe Hall in the luxury departmental store. Raising a toast to the occasion, Louis Vuitton has created an exclusive shoe the Pump London. This limited edition shoe will be available for purchase exclusively in Selfridges from the day of its launch on 15 th July. 40 will be Grenson s third store in London and is scheduled to open doors in early The move follows the European launch of US fashion brand J.Crew, which opened its first UK store on the street in October Regent Street Karl Lagerfeld chooses London to offer biggest European store Karl Lagerfeld is set to open his biggest European store to date in London in 2014 as part of the global retail expansion of the designer s signature brand. The 2,700-square-foot flagship will be located at Regent Street , previously home to men s wear brand Hackett. Continental Europe Lambs Conduit Street First J.Crew outside the United States officially opened in London On 13 th October 2013, American high street heavyweight J.Crew opened its first men s only store outside of the United States on Lamb s Conduit Street 38, nearly a full month before its gigantic Regent Street flagship opened on 8 th November. Housed in a building dating back to the nineteenth century, the venue sells shirting, an assortment of the label s excellent Ludlow suiting and a whole host of exclusive items from J.Crew. Grenson to step onto Lambs Conduit Street British footwear company Grenson is opening a new store on Lamb s Conduit Street. The 1,286-square-foot unit at Lamb s Conduit Street J.Crew, Lamb s Conduit Street, London A rendering store of Watches of Switzerland, Regent Street, London locationgroup research Retail Market Study

21 Continental Europe Karl Lagerfeld is understood to have agreed to pay a premium for the store of around 2 3 million Pounds. The rent on the store is said to be around 510,000 Pounds a year. The store is held on a 20-year lease, expiring in March 2021, with a final rent review in March The brand had initially been in talks to open its first store on South Molton Street, in the former Kurt Geiger store at South Molton Street 65, but pulled out of the deal a couple of months back. Watches of Switzerland to open largest flagship store on Regent Street In 2014, Watches of Switzerland will open the UK s largest standalone flagship watch store at The Crown Estate s W4 development on Regent Street The 17,000-square-foot store will sit in the centre of the street, alongside J.Crew s first store outside of the United States. The store is scheduled to open in May Watches of Switzerland, a division of Aurum Holdings, the largest prestige and luxury jewellers in the UK, stocks more luxury Swiss watch brands than any other UK retailer, including Rolex, Patek Philippe, Omega, Cartier, and Tag Heuer. There are currently15 Watches of Switzerland stores across the United Kingdom. J.Crew opened 16,000-square-foot store Michelle Obama s favourite label, J.Crew, launched a 16,000-squarefoot Regent Street store in the United Kingdom. The iconic American retailer opened its very first flagship store outside North America on 8 th November The success of the London store will determine whether or not they move forward with their plans of expanding to Asia. Italian accessories brand Piquadro Italian luxury leather goods brand Piquadro has opened its first store in the United Kingdom, choosing to settle on Regent Street 67 in London. The deal was signed with St Martin s Property, which owns the leasehold on the store, currently occupied by Tony & Guy. Piquadro opens its doors on the store in February 2014, after which it will examine further options for stores in London and eventually outside the capital. United Nude s new opening United Nude is excited to announce the opening of two new stores in London, following two grand store openings in Tel Aviv and Seoul earlier in A United Nude concept store on London s prestigious Regent Street was opened in the middle of May The property on Regent Street 80 was once occupied by the luxury menswear brand Duchamp. Hackett completed on record rent for Ferrari store Menswear retailer Hackett has signed its deal to move to the Ferrari store on Regent Street at a record zone A rent for the prime London retail thoroughfare. A private landlord has let Regent Street , London, which formerly traded as Ferrari, to Hackett. The menswear designer will open the world s largest flagship store providing 11,000 square feet to trade over three floors. Hackett will pay million Pounds per annum (645 Pounds zone A) for a new 15-year lease a record zone A rent for the street. Ferrari received a substantial premium for its lease. The schedule of opening is not provided. & other Stories, Regent Street, London H&M, Oxford Circus, London 160 locationgroup research Retail Market Study 2014

22 Continental Europe Longchamp, Regent Street, London H&M re-launched Oxford Circus flagship store H&M announced the re-launch of its flagship Oxford Circus store in March The remodelled store on Regent Street 234 is the first H&M store in the world to offer Wi-Fi to customers and comprises of over 40,364 square feet across six floors of fashion including womenswear, menswear, a shoe lounge, and a relaxing chill out area on the fourth floor. KIKO launched London store On 23 rd November 2013, a two-storey flagship store of Italian cosmetics brand KIKO was opened on London s Regent Street. The store is luxurious and reflects the design of the Milan flagship. Located at the venue number , this store is going to be a beauty addicts dream full of makeup stations where you can experiment and play with different shades and products. & other Stories debuted & other Stories, the new brand from the company behind H&M and COS, opened its London store in March Situated at numbers Regent Street where Mamas & Papas once occupied, the 10,763-square-foot store is divided into two levels and carries the entire collections of clothes, shoes, and accessories. Longchamp continued expansion French luxury brand Longchamp has stepped up its global expansion and signed up to open a large flagship store in Regent Street. The French brand, known for its distinctive handbags, agreed a deal to take over Quiksilver s 5,000-square-foot shop at Regent Street 229. The store opened doors on 14 th September 2013 during London Fashion Week. Osprey swooped new flagship store British lifestyle brand Osprey London, known for its heritage-inspired leather bags and accessories, opened its new flagship store at Lower Regent Street 27, St James in the New Year The 5,000-square-foot retail space spans over two floors and houses the wider Osprey London and O.S.P Osprey lines for men and women. Ellisdon established Osprey London in 1980 with an investment of just 500 Pounds. The brand currently operates nine stores in the Untied Kingdom, and is stocked in department stores including John Lewis. Savile Row Kent & Curwen returned to Savile Row British brand Kent & Curwen has returned home to Savile Row 2. Now under American ownership, the new 1,600-square-foot retail space was designed by the late David Collins and his studio. The store celebrates the heritage of the brand which was born in the world of sport. locationgroup research Retail Market Study

23 Continental Europe Eric Kent first met Dorothy Curwen on Savile Row in 1926 and they joined forces to create Kent & Curwen, a company that supplied ties to the best regiments, clubs, and private schools in Great Britain and created the original cricket jumper. Cad & The Dandy opened London flagship store Tailoring brand Cad & The Dandy launched its London flagship store at Savile Row 13 in mid-june The retail space features a suit made entirely on the premises, starting with yarn that has been hand woven on a traditional 200-year-old Georgian loom into a length of cloth. James Sleater and Ian Meiers established the label in Piccadilly Circus Tiger of Sweden debuted UK store On 4 th October 2013, Tiger of Sweden opened a permanent store at London s prime location, Piccadilly Circus. Spanning over an area of 1,000 square feet, the women and men s collections and jeans line are presented inside the store at Piccadilly 2. Tiger of Sweden, Piccadilly Circus, London Cath Kidston opens West-end flagship store Cath Kidston, the retailer known for its nostalgic floral and polka dot designs, has opened a huge flagship store at Piccadilly 180, next to Fortnum & Mason. Being the 60 th store in the United Kingdom, the 7,070-square-foot store opened its doors at the beginning of Covent Garden Carnaby Street Lyle & Scott opened flagship store Scottish knitwear brand Lyle & Scott have opened a new flagship store in London. The store, positioned on the corner of Carnaby Street 1 2 and Beak Street, Soho, was inaugurated in October Lyle & Scott, Carnaby Street, London Eleven Paris, Covent Garden, London 162 locationgroup research Retail Market Study 2014

24 Continental Europe Scotch & Soda, Covent Garden, London Eleven Paris Eleven Paris launched its first store in the United Kingdom. The young French pop-rock brand, which is adored by young Parisians, has scored a spot on London s famous Carnaby Street. The 970-square-foot store at number 46, which welcomed new London shoppers in April 2013, is the brand s second international store after Brussels. The new London store which neighbours includes The Kooples, Levi s, Diesel, G-Star, and Cheap Monday comes as the brand celebrates its ten-year anniversary. brand launched its 590-square-foot flagship at Carnaby Street It already has two stores on London s Westbourne Grove: one for Scotch & Soda and another for its sister womenswear label Maison Scotch. Spaniard swung into Carnaby Spanish fashion brand Lavand has opened its debut UK store on Carnaby Street, ahead of a wider rollout across the capital and into other regions. The store is located at Shaftesbury Estates Carnaby Street 40, in London s West End. Benefit Cosmetics opened Carnaby Street boutique Benefit Cosmetics announced the launch of the Benefit Boutique on London s Carnaby Street in the autumn of Known for its vintage Hollywood-style makeovers and retro branding, Benefit s new boutique features all of the company s latest products. Scotch & Soda s retail push to extend beyond London Young fashion brand, Scotch & Soda, is primed for UK retail expansion after opening its third London store. On 22 nd August, the Dutch After being fitted out, the 1,602-square-foot store was opened in late September It was previously let to sportswear brand Gola. Soho Beak Street Paul Smith launched a new shop in London s Soho Paul Smith was delighted to announce the opening of a new shop on 8 th August 2013 at Beak Street 46, London. Located at the foot of Carnaby Street in the heart of bustling Soho, the new Beak Street shop is Paul Smith s thirteenth in the city. locationgroup research Retail Market Study

25 Continental Europe GANT Rugger opened debut UK store Menswear brand GANT Rugger opened its first stand-alone store in the UK in March Located at Beak Street 47 in Soho, the store explores the label s heritage, reinventing preppy classics that were at the birth of American sportswear during the 50s. Soho Nudie Jeans to debut UK concept store May 2013 saw Swedish organic denim brand Nudie Jeans open their first UK store in London, and officially launch their first Repair Station in the world. The store is set in Soho s shopping district, in a prominent location at D Arblay Street 29, on the corner with Berwick Street. Inside, the shop boasts 1,076 square feet of retail space distributed on the ground floor and basement with a 430-square-foot showroom on the first floor. Universal Works gets a Soho store in London Menswear label Universal Works is opening a stand-alone store in London s Soho district. The 771-square-foot shop, which is the brand s first, opened at Berwick Street 40 in August It joins other labels such as Nudie Jeans, Underground Shoes, Percival, Oliver Spencer, and Footpatrol to take units in the area. First store of Filson out the Pacific Northwest Filson has expanded their brand and retail experience outside the Pacific Northwest with the opening of their new store in Central London Soho in late March Located at Newburgh Street 9, the new 550-square-foot store is the brand s first retail position outside of the Northwest USA and features the full range of classic Filson accessories and apparel. Brandy Melville opened new flagship store Just in time for Christmas 2013, Brandy Melville, the cult fashion favourite worn by Miley Cyrus, Ashley Benson, and Karlie Kloss, opened its UK flagship store at Foubert s Place 11, just off Carnaby Street. Inspired by the LA lifestyle, the Italian brand has become a cult favourite among Californian fashionistas looking to add a bit of grunge chic to their wardrobe. Brandy Melville s second London store is the 11 th in its international portfolio and its 28 th in total. Its other London store is located on Chelsea s Kings Road. West End New London s store of Paul Smith on Albemarle Street On 30 th August 2013, Paul Smith opened the doors to a new shop at Albermale Street 9. Significantly extending the pre-existing Nudie Jeans, D Arblay corner with Berwick Street, London 164 locationgroup research Retail Market Study 2014

26 Continental Europe Paul Smith, Beak Street, London Paul Smith shop on the corner of Albemarle and Stafford Street, the new space expands into the neighbouring building and offers clothing and accessories for men and women as well as a selection of furniture. Amanda Wakeley signed lease for second London s store Amanda Wakeley has agreed a deal to open a store at 18 Albemarle Street in London s West End. The fashion retailer has signed a new ten-year lease on the 3,161-square-foot store, and pays a rent of 260,000 Pounds per year. Globe-Trotter prepares Mayfair store British luggage brand Globe-Trotter opened a new flagship store in Mayfair at the beginning of 2014, in the latest of a series of developments for the brand. Relocating from its boutique in Burlington Arcade, the new store on Albemarle Street 35 is more than twice its current size at 2,594 square feet. Globe-Trotter is now sitting alongside other premium brands in Mayfair, including Paul Smith and Amanda Wakeley. West Elm debuted West Elm, a subsidiary of San Francisco-based Williams-Sonoma Inc., has opened its first-ever European store in London. The 12,000-square-foot London unit is located at Tottenham Court Road 209 and opened its doors to the public in late Tiger s new store in Central London Home-ware and accessories retailer Tiger opened its first West End store on 5 th August situated at Tottenham Court Road The opening brings Tiger s store count to 21. The Danish chain said it was expanding rapidly. All of its stores are located in London and the South East. It already opened two stores in 2013 in the O2 Centre, Finchley Road and Whiteley Village in Hampshire. Tiger, Tottenham Court Road, London Aquascutum made West End return Aquascutum has returned to the West End of London after procuring the Swarovski lease at Great Marlborough Street 24. Opening in the autumn 2013, the 4,456-square-foot store is located opposite Liberty Department store in the heart of the West End. Trading across both the ground and first floor, the new store incorporates a new modern design concept. Aquascutum sold out West End s store on Regent Street 100 in 2011 under the ownership of Harold Tillman. The brand then crashed into administration in April 2012 before new Hong Kong-based owner YGM Trading assumed rights to the brand. St James The Left Shoe Company makes its British debut The contemporary shoemaker, The Left Shoe Company, announced in March 2013 the opening of its first UK store on Princes Arcade 6. The Left Shoe Company combines traditional skill with state-ofthe-art technology, creating a truly unique shoe buying experi- locationgroup research Retail Market Study

27 Continental Europe Filson, Newburgh Street, London 166 locationgroup research Retail Market Study 2014

28 ence. Neighbours in Princes Arcade include British men s heritage label, Smart Turnout London, as well as shoemakers such as Loake and Barker. Barbour and Sunspel signed up to St James s development Sunspel and Barbour have become the latest retailers to sign up to open stores at the 100 million Pound St James s Gateway redevelopment in London. Inspired by Barbour s long and rich motorcycle heritage, the British brand opened its first store dedicated to motorcycling clothing in the Gateway in November The 300,000-square-foot store also includes a number of Barbour s other luxury collections. British heritage brand Sunspel, which has three stores in London, opened a men s boutique on Jermyn Street. The shop stocked a select edit of Sunspel menswear alongside its premium Sea Island Cotton range. There is also a VIP consultation service available. The retailers follow hot on the heels of fashion brand Tiger of Sweden, which signed up to open a store at The Crown Estate in St James s earlier this summer. Covent Garden Long Acre TK Maxx set up shop among upmarket neighbours in Covent Garden Discount fashion retailer TK Maxx has taken on Next s store on Long Acre 15 17, much to the dismay of Covent Garden landlords, who had been remodelling the area to attract more affluent shoppers. Next transferred the lease despite its remaining 12 years, to TK Maxx whose store was opened in the autumn of Landlord Capco owns 1 billion Pounds worth of property in the central Covent Garden market area. Capco did not however own the 20,000-square-foot Next store which was owned by Linfield Capital and is likely to be disappointed that TK Maxx has now been opened on Long Acre. The discount fashion retailer s image conflicted with its strategy to attract more aspirational brands. Since acquiring property in and around Covent Garden in 2006, Capco has attracted top brands including Apple, which operates its largest European store there, and luxury brands including Chanel, which has opened its first beauty and fragrance-only store. The TK Maxx store opening also conflicts with the strategy of landlord Shaftesbury, who owns surrounding properties including assets in the Seven Dials area, and has focused on attracting UK-firsts and flagships. Lululemon Athletica s Covent Garden pose Lululemon Athletica has been in talks to seize its first permanent UK store. The Canadian yoga wear label is understood to be interested in a store of around 5,500 square feet at Long Acre in Covent Garden. The unit is currently occupied by Jack Wolfskin, which wants to move into a smaller store elsewhere in Covent Garden. If agreed, Jack Wolfskin is expected to surrender its lease to Capco, which will then look to sign a new ten-year lease with the yoga retailer. Lululemon has temporary showrooms in Chelsea and Covent Garden. Cadenzza set up new home in London, on Long Acre The brand new flagship Cadenzza store on Long Acre will change the way shoppers buy jewellery. Firstly, there is the incredible range of stunning pieces by renowned designers such as Jean Paul Gaultier. Versace and Oscar de la Renta as well as emerging names made famous by the fashion set such as Mawi, Anton Heunis, and Bibi Bijoux. Continental Europe Reebok, Covent Garden, London locationgroup research Retail Market Study

29 Continental Europe Then, there is Cadenzza s unique store design, which just found itself at house number 25. The boutique offers visitors the latest trends for unique jewellery for the everyday as well as special occasions. Reebok returned to retail with Covent Garden flagship The brand, which is owned by Adidas, has taken the store which was formerly occupied by fashion retailer Replay at Long Acre 32. The store was opened at the beginning of September Adidas group said the store would allow the group to push further into fitness. Brompton joins Covent Garden Folding-bicycle maker Brompton has opened its first stand-alone store in London s Covent Garden. Brompton has taken a ten-year lease and fitted out the 1,300-square-foot store over two floors at Long Acre 76. Brompton Junction the manufacturer s first company-owned store launched the opening in September 2013, stocking its full range of bikes and accessories. Brompton Junction, Covent Garden, London Covent Garden Earlham Street Peter Werth debuted in London The British brand Peter Werth held an official launch of its first store in Covent Garden s Seven Dials district in early February The store has a surface area of 800 square foot and is located on Earlham Street 3. Aussie brand Industrie made a debut in London Australian men s fashion brand Industrie has agreed a deal with Shaftesbury to open its first store outside Australia in Seven Dials, London. Industrie s 1,234-square-foot store, situated on Earlham Street, opened doors at the end of September M.A.C, Covent Garden, London Phase Eight, Covent Garden, London 168 locationgroup research Retail Market Study 2014

30 Covent Garden James Street Phase Eight opened the third London flagship Women s fashion retailer Phase Eight opened its third London flagship on 15 th March 2013 as it continued to expand its store base. Located at James Street 10 12, St Christopher s Place shopping district just off Oxford Street, the new flagship is significantly larger than the average Phase Eight store, covering 3,100 square feet across two floors. M.A.C opened new pro store Lothbury Investment Management, on behalf of Lothbury Property Trust, has secured leading international cosmetics retailer M.A.C as a tenant for their flagship holding in London s Covent Garden. The retailer has signed a lease of 2,500 square feet on James Street 27. Lothbury Property Trust owns James Street 25 31, a parade of seven retail and office units on a prime pitch with exceptionally strong retailer demand, reflected in the zone A rent of 730 Pounds per square feet for the M.A.C unit. Set over five floors on a site that was most recently occupied by True Religion, M.A.C has taken a 15-year lease with three yearly rent reviews. After undergoing a makeover, the store was completed for its opening on 28 th June Covent Garden More Store Openings Cambridge Satchel Company opened the very first store in London Many years ago in 2009, Julie Deane s business hopes rested on 600 Pounds, a list of 10 start-up ideas and a desire to make enough money to take her young daughter out of the local state school, where she was being bullied. Starting from her kitchen table, Ms Deane has turned the best of those ideas into the Cambridge Satchel Company a global digital success with a 12 million Pound turnover, and now has set out to make its high street debut. Following the success of the pop-up store opened in London in 2012, Cambridge Satchel Company officially opened its redesigned store just off the bustling street of London s Covent Garden on Shorts Gardens 15. The core collections are available in a variety of colours along with the new brand s selection of trunks and some special exclusives. Covent Garden welcomed Sandro and Adidas collaboration Y-3 French fashion brand Sandro, part of the LVMH group, opened a 2,746-square-foot shop at King Street in late May The Continental Europe Cambridge Satchels, Convent Garden, London locationgroup research Retail Market Study

31 Continental Europe Le Coq Sportif, Covent Garden Y-3, Covent Garden, London 170 locationgroup research Retail Market Study 2014

32 Continental Europe Sandro, Covent Garden, London store was previously occupied by the Opening Ceremony pop-up store before the fashion brand moved to its permanent site at King Street 35. Milan, Lille, and Marseille along with Barcelona in later 2013, as part of the brand s strategy to open concept stores in all major European cities. Covent Garden has also signed Y-3, a collaboration between Adidas and Japanese fashion designer Yohji Yamamoto. Y-3 has opened on Floral Street 12 in the unit formerly occupied by defunct brand Aubin & Wills. Y-3 sells avant-garde sportswear for men and women in the new store. As the shopping district continues to transform its retail offer, the luxury chocolatier Godiva was also opened in Covent Garden in the summer 2013, replacing Thorntons. Melissa says hello to London Melissa, the Brazilian footwear brand best known for its plastic collaborations with designers including Karl Lagerfeld, Vivienne Westwood and Gareth Pugh, opens its first European store in London in Opening its doors in January at King Street 43, Covent Garden, in a site recently occupied by Ralph Lauren s Rugby store, the 4,899-square-foot space comprises ground floor and basement areas which stock all of Melissa s collections, including the designer collaborations. Le Coq Sportif launched first UK stand-alone in London May 2013 saw the launch of French brand Le Coq Sportif s first stand-alone UK store in London s Covent Garden. The 2,756-squarefoot retail space is situated on the corner of Earlham Street and Mercer Street. The store followed the opening of stores in Paris, El Ganso grew out of Spain with a second London property The fashion chain for men and women, El Ganso, has opened a second new store in London. The company, while increasing its store network in Spain, has launched the new space in Covent Garden. The latest premise is located at Neal Street 27 and has an area of 484 square feet, distributing collections of menswear, tailoring, apparel, and accessories. Schuh signed on Covent Garden Fashion footwear brand Schuh has taken a 10-year lease at Neal Street 30/32 in Covent Garden. The move followed on quickly from openings on Oxford Street (a second store) and at Canary Wharf. In Covent Garden, Schuh is taking 5,532 square feet over three floors at a rent of 650,000 Pounds per annum. Arc teryx announced first UK stand-alone store Arc teryx has announced the opening of their first stand-alone store in Europe, to be run in partnership with Snow+Rock. The shop is located in St Martin s Courtyard in London s Covent Garden, and opened its doors in August Covent Garden is a mecca for outdoor enthusiasts and St Martin s Courtyard is a unique and stylish shopping and dining destination in the heart of this vibrant shopping district. The St Martin s Court- locationgroup research Retail Market Study

33 Continental Europe yard development has created a prestigious pedestrian shopping area linking Long Acre and Seven Dials, adjacent to Snow+Rock s existing Mercer Street store. Dior s new beauty boutique One of November s most exciting launches was Dior s brand new beauty boutique in the heart of Covent Garden s Piazza the fashion house s first stand-alone beauty store in Britain. The launch came one year after Chanel opened its own beauty boutique under those same famous arches, and just a few months after Aesop s arrival on nearby King Street. Burberry unveiled beauty box concept Burberry Beauty Box, a new retail concept that sells the brand s makeup, fragrance, and accessories, has landed in Covent Garden. Burberry joins a recent flurry of luxury names setting up shop in the area, and the store is located near Chanel and Dior s beauty boutiques in the covered piazza. The bijou store is set over two floors, and true to Burberry s affinity for all things digital, it uses interactive technology to bring its beauty looks to life. Harrods Department Store Boucheron re-opened boutique The Maison Boucheron announced the opening of its recently refurbished Harrods boutique in the Fine Jewellery Room on the ground floor of the world famous department store. Inspired by and designed to reflect the original Paris Hotel Particulier in Place Vendome, the refurbished boutique is an ode to light. Shining Knight: rival for Harrods A major redevelopment in Knightsbridge hopes to create an upmarket shopping area to match Harrods. Developer Chelsfield has started a 75 million Pound makeover of the 3.5-acre Knightsbridge Estate that sits between Harvey Nichols and Harrods. The developer bought the estate for 550 million Pounds in 2010, with Middle Eastern backers Olayan Group, and has now hired Stephen Marshall Architects whose previous commissions have included Somerset House and the Royal Academy of Music to draw up plans so that the Grade II-listed buildings will house shops with offices above without their period features being sacrificed. The idea is eventually to remove the High Street brands and find luxury tenants designers Tom Ford and Alberta Ferretti have recently opened close by in Sloane Street. The block, bordered by Brompton Road, Sloane Street, and Hans Crescent, has just signed Porsche Design Group, which will open by the autumn in a six-storey maison -style store at Brompton 59 Road. It joins Tommy Hilfiger and Hugo Boss at the site where more than 23 million people visit each year. Christian Louboutin s collections within Harrods Luxury French designer Christian Louboutin has opened his first stand-alone boutique in London s iconic Harrods. Sitting adjacent to the Harrods Shoe Boudoir on the first floor, the Louboutin boutique offers a wide selection from the women s shoe and bag collections. Louis Vuitton men s boutique, Harrods, London 172 locationgroup research Retail Market Study 2014

34 Continental Europe Tom Ford, Sloane Street, London Designed by acclaimed product and interior designer Lee Broom, the concept takes inspiration from its surroundings and London Landmarks have been skilfully incorporated into the space. Christofle launched Christofle has launched its new London flagship corner at Harrods, developed by interior designer Stéphane Parmentier to affirm its identity as a contemporary, lifestyle-enhancing brand. The space incorporating the silversmith s collections is more a venue to express contemporary Art de Vivre rather than a boutique. Qatar Airways opened Qatar Airways has officially opened its flagship high street ticket office in one of the world s most exclusive shopping destinations the iconic British department store Harrods in Knightsbridge. The luxury airline s new central London location opened for business on 3 rd July, offering personalised booking service for discerning travellers to visit over 128 destinations across six continents. Located on the lower ground floor, next door to Harrods Bank, the Qatar Airways concession is among one of the largest and most prestigious collections of luxury brands in the world. Baccarat concession re-opened Baccarat, renowned for exquisite craftsmanship and exceptional design, has recently re-opened their concession at Harrods ahead of the iconic brand s upcoming 250 th anniversary. Located on the second floor of the luxury department store in Knightsbridge, the expansive 2,152-square-foot space was designed by acclaimed architect and designer Rafael de Cárdenas. Louis Vuitton s menswear boutique Harrods and Louis Vuitton fit together like a hand in a glove. The two have once again teamed up to target their male shoppers, especially die-hard fans of both the fashion brand as well as the department store. On the former space dedicated to Paul Smith, Harrods has introduced the new Louis Vuitton menswear boutique. The new boutique has taken the number of dedicated Louis Vuitton spaces in Harrods to an impressive five, the highest number of any brand inside the luxury store. Hermès opened stand-alone fine watch and jewellery boutique Hermès has unveiled its first stand-alone fine watch and jewellery boutique at Harrods in London. The new store is located within the Fine Jewellery Room, on the ground floor of Harrods in London. This new Hermès boutique brings together these two metiers from Hermès for the first time in the United Kingdom in one retail space. It is a showcase for the many exceptional artisanal watch and jewellery skills possessed by Hermès craftspeople since the early Twentieth century. Sloane Street Tom Ford debuted in United Kingdom US designer Tom Ford opened his first UK store on Sloane Street in July 2013, reinforcing the street s reputation in luxury retail. Tom Ford s arrival provides an exclusive anchor at The Cadogan Estate s new Sloane Street development. locationgroup research Retail Market Study

35 Continental Europe Christian Louboutin, Harrods, London 174 locationgroup research Retail Market Study 2014

36 Continental Europe locationgroup research Retail Market Study

37 Continental Europe Yves Delorme, Duke Street, London The Cadogan Estate granted the retailer a lease of an 8,000-squarefeet store on a ten-year lease at 1.34 million Pounds per annum. H. Stern opened first stand-alone shop in the United Kingdom H. Stern opened a new store on fashionable Sloane Street in London in early April 2013, the brand s first stand-alone store in the United Kingdom. The jeweller is said to have paid the landlord around a 1 million pound premium to secure the shop of 1,600 square feet formerly occupied by fashion store Browns at Sloane Street 6C. The rent is in the region of 230,000 Pounds a year. H. Stern said it chose Sloane Street as the spot for its first UK store because of the number of international brands already with shops on the streets and the nearby luxury residential community. Dolce & Gabbana bowed first childwear store On 2 nd December 2013, Dolce and Gabbana opened its third Sloane Street store a children s boutique that joins the men and a women s stand-alone stores on the famous street. Situated at Sloane Square 8, the space is the brand s first kids-only store in the capital. The unit is as small and perfectly formed as its tiny clientele. It occupies just 70 square feet on the ground floor and features vintage furniture and toys alongside Dolce & Gabbana s always-sleek fixtures and fittings. Chelsea Opening of the Yves Delorme flagship store in Chelsea Yves Delorme announced the opening of the new London flagship store in Chelsea in March The store is on Duke of York Square 71 and offers the newest and latest collections and the Mono gramming Personalisation service. New COS store opens on King s Road COS, owned by H&M, has opened a new store on King s Road in Chelsea. The store in Duke of York Square marked the retailers eighth shop in London. COS has agreed a new lease with the Cadogan Estate with an area of 3,500 square feet. They will pay a rent of 365,000 Pounds per year, which equates to a zone A of 415 Pounds. The letting is part of Cadogan Estate s strategy to enhance the area of Sloane Square. There are 33 retailers, seven cafés and the Saatchi Gallery now in occupation at Duke of York Square. Major international fashion brands include Banana Republic, Massimo Dutti, Zara, Joseph, and Sarah Pacini. Orico opened London flagship store April 2013 saw the opening of beauty brand Orico s flagship store on King s Road 315. The retail space offers a beauty art gallery where customers can explore the Orico product range in a stress-free environment, with designer Ben Rousseau s orange circle displays in keeping with the Orico brand image. Orico is a British skincare brand, established in 2012 by Shirin Valipour, offering products to protect against everyday demands from pollution, air conditioning, heating, and stress. Carven Paris made UK debut Carven has opened its first UK boutique as part of a five-year plan to launch five stores in the country. The French designer label opened on Pelham Street 85 in South Kensington on 21 st November 2013, following a deal with Club 21, which will handle UK distribution and the licensed store. The 1,615-square-foot unit stocks Carven s full men and women s ranges. 176 locationgroup research Retail Market Study 2014

38 3.1 Phillip Lim unveiled first London outpost Phillip Lim has brought his cool, insouciant brand of ready-to-wear to London s South Kensington. Earlier November 2013, the 3.1 Phillip Lim label unveiled a 3,200-square-foot store at Pelham Street 91, which the designer has opened in partnership with Club 21 UK. Continental Europe The long term partnership with Club 21, the fashion and accessory arm of the Ong family s Como Group, will see a number of 3.1 Phillip Lim locations open in the United Kingdom, with a second London store set to arrive in Acne Studios second outpost in London On 18 th July 2013, Acne Studios opened its second London store at Pelham Street 93, Brompton Cross. The 2,289-square-foot store houses the Acne s menswear and womenswear collections as well as denim, shoes, and accessories. Kensington High Street Vince Camuto made debut in London April 2013 saw the opening of fashion label Vince Camuto s first store in the United Kingdom. The American brand announced its partnership with Kurt Geiger who holds the license for expansion into the European market. Located at Kensington High Street 133, the store displays the footwear and handbag collections. Vince Camuto, High Street Kensington, London Zara Home secured on Kensington High Street The Trustees of The Phillimore Estate have let Kensington High Street 122, London, to Zara Home. The retailer has agreed a new ten-year lease on a store totalling 6,500 square feet. Zara Home is the latest addition to the tenants line up at Hornton Court, sitting alongside Massimo Dutti and COS. Westbourne Grove Devon & Devon opened their Westbourne Grove showroom In January 2013, Devon & Devon, the world-renowned specialist bathroom supplier, opened their showroom doors at Westbourne Grove The premises have a superb double-front and comprise some 2,100 square feet over ground and basement. The store, whose concept was conceived by Paola Ciarmatori Tanini, continues the mood of timeless elegance for the Florentine brand. Orico, Kings Road, London Devon & Devon, Westbourne Grove, London locationgroup research Retail Market Study

39 Continental Europe Club Monaco debuted in United Kingdom Lifestyle brand Club Monaco opened its first stand-alone store in the United Kingdom on 12 th September The 111-square-foot shop is located at Westbourne Grove 223, and stocks womenswear from the label s trendiest collection. Bimba & Lola on Westbourne Grove Bimba & Lola celebrated its third store in London, Notting Hill, in mid-april It will pay a rent of 170,000 Pounds per annum for the 605-square-foot store on Westbourne Grove 184 for which it has also signed a ten-year lease. The latest setting adds to the locations in Westfield London and Kings Road in London. Royal Exchange Maidstone-based luxury watch retailer opened London shop A retailer of luxury pre-owned watches has opened a 750,000 Pound flagship store in London. Maidstone-based Watchfinder & Co, unveiled its boutique in the Royal Exchange. It stocks more than 500 contemporary and vintage watches. The company, founded in 2002, now offers the UK s largest collection of pre-owned watched and stocks leading brands such as Rolex, Omega, Breitling, TAG Heuer, Longines, and Cartier. It started as an internet-based company and now employs more than 40 people with a turnover of some 18 million Pounds. Bremont bowed second London boutique Bremont Watch Company s ascent is continuing with the announcement that the British brand plans to open its second boutique in London at The Royal Exchange. This planned boutique opening follows the success of Bremont s Mayfair boutique, which opened its doors in 2012, and the company s first international boutique in Hong Kong, which opened in September Bremont is not currently represented by any City of London retailers so The Royal Exchange location will provide excellent retail coverage for the brand. Shoreditch area House of Hackney opened flagship store in London Interiors and fashion brand House of Hackney debuted the opening of its flagship store in London on 7 th June. The location of the 2,000 square feet, two-storey retail space is situated at Shoreditch High Street 131, and hosts both lifestyle pieces as well as apparel. House of Hackney, established in 2011 by Javvy M Royle and Frieda Gormley, is made of responsibly sourced materials, keeps production close to home and supports British factories. Medwinds opened first store in London After the success of its Bloomsbury pop-up store during fashion week in September 2011, Spanish clothing retailer Medwinds has brought its Mediterranean style to British shores, with a more permanent opening in London s Shoreditch area. by Walski opened store in London Located on Shoreditch s inimitable Redchurch Street 59, the new by Walski concept space opened its doors on 19 th June Stocking Parisian menswear labels Commune de Paris and Cuisse de Grenouille, Danish rainwear label Rains, and Brazilian born Watchfinder & Co, Royal Exchange, London 178 locationgroup research Retail Market Study 2014

40 MUTTA Footwear, the by Walski concept store is an offering of culture, lifestyle and fashion. More store openings Mango opened first UK stand-alone Mango Touch store Mango opened its debut UK stand-alone store for its premium accessory line Mango Touch on 28 th February The retail space is based at One New Change in London and opens seven days a week, stocking a range of accessories with prices ranging from Pounds. The store interior reflects the concept of the collection including materials such as brushed wood, wrought iron and glass. feet across two floors and employs 28 people. The new store is the family-owned company s ninth since it began trading in Stocktonon-Tees in 1946 and follows the opening of a new flagship store in Knaresborough in The company s other stores are all in the North and Midlands. Love Brand & Co. arrived Beachwear brand Love Brand & Co. has announced the opening of its first boutique located in London s Chelsea area at Park Walk 5. Continental Europe Designed by internationally acclaimed architect Renzo Piano, The Shard is situated on the South Bank of the River Thames between St. Paul s Cathedral and the Tower of London. It is the tallest building in Western Europe at 310 metres (1,016 feet) high and a landmark synonymous with London itself. Louboutin steps onto London s Ironmonger Row Christian Louboutin is set to splash its signature red soles across a 7,800-square-foot store on Ironmonger Row. The French shoe retailer has secured the ground and lower ground floor space on Ironmonger Row 72 and will pay a rent of 187,500 Pounds per annum on a new ten-year lease, with a break option at the fifth year. Fortnum & Mason opened new outlet in London Fortnum & Mason opened its second store the first since it launched its famous Piccadilly store 307 years ago in the former ticket hall of London s St Pancras International Station. Landlord High Speed One has signed Fortnum & Mason for a 2,000-square-foot space that opened its doors in November Fortnum s new store stocks signature products, including a bespoke collection designed for passengers rushing to catch trains, and also offers a tea service. Club Monaco, Westbourne Grove, London Situated at Commercial Street 107a, the store carries the label s entire collection as well as its Handmade collection, a selection of bags masterfully crafted by local Mediterranean artisans. J.Crew launched third London s womenswear boutique in Chelsea US casual wear retailer J.Crew has opened a womenswear boutique in Brompton Cross, West London, which was launched alongside its Regent Street flagship and menswear store. The store, at Drayton Avenue 175, stocks limited-edition pieces from its collection and a highly edited assortment including Italian cashmere, jewellery, handbags, and shoes. Medwins, Shoreditch area, London The womenswear boutique opened its doors in early November 2013 and followed its menswear-only shop at Lamb s Conduit Street 38 that opened on 10 th October and its Regent Street flagship which debuted on 1 st November. Barker & Stonehouse opened first London store In early July 2013, furniture retailer Barker & Stonehouse opened its first London store as the company looked to expand into Southern England. The new 1 million Pound store is located in Battersea, in one of the most historic buildings south of the Thames, the old Price s Candle factory on York Road 100. The store occupies 25,000 square locationgroup research Retail Market Study 2014 House of Hackney, Shoreditch High Street, London 179

41 Continental Europe The 1,000-square-foot flagship boutique offers the men and boys SS13 Collection. Zoe & Morgan s new store On 1 st May 2013, Zoe & Morgan opened the doors of first London shop to the public. The sky blue building is central yet secluded on Chalcot Road 48 a destination shop surrounded by the peace and glamour of Primrose Hill. French bakery took UK first Aux Pains de Papy, the French bakery chain, has opened its first UK store, taking a site of 1,003 square feet at Grays Inn Road 279, London. The chain, run by Mathieu Esposito, operates as a high-end rustic bakery, with an ancillary retail element. The company has taken the ground and basement on a ten-year full repairing and insuring lease at an undisclosed rent. Little Waitrose s new store close to London s Monument Waitrose has announced the opening of a new Little store, close to London s Monument. Situated by Monument tube station and the landmark, the shop provides a convenient place for workers, visitors, commuters, and residents to shop. Red Wing moved to the United Kingdom to expand retail business US footwear label Red Wing Shoes opened its first stand-alone store in the United Kingdom on 24 th October. Located on Newburgh Street, London, the store offers a wide range of the Red Wing Heritage. The launch was designed to coincide with the opening of the brand s sister-store in Munich, Germany. Links of London takes St Albans store Links of London has been confirmed as the latest premium brand retailer to take space at Hermes Property Unit Trust s (HPUT) boutique Christopher Place scheme in St Albans. Replacing Crabtree & Evelyn at the centre, this latest deal sees the development maintain its 100% occupancy rate. The contemporary jeweller has signed a five-year lease for a 1,021-square-foot unit at Christopher Place. The deal represents a key part of Links of London s expansion strategy in London and key regional locations. Links of London joins existing occupiers The White Company, Cath Kidston, LK Bennett, and JoJo Maman Bebe at the St Albans scheme. London s eighth store of Urban Outfitters in Camden The newest addition to Urban Outfitter s roster of London locations is a former indoor market on Camden High Street 211 that opened its doors on 26 th July. In a prime position opposite Camden tube station, the space was also once used as a cinema, specialising in art house foreign language films. The building s historical features, such as the mosaic floors and entrance display, have been maintained and there are a few old cinema seats hidden around the store. Dr Martens strides into Camden The owner of Dr Martens footwear has signed a 12-year lease for the raised 4,663 square feet ground floor of the Rotunda, a property in Camden Town owned by a trust fund managed by Hermes Real Estate. There is a landlord redevelopment break option after eight years and a tenant break in four years and six months. It will pay Pounds per square foot with an initial eight-month rent-free period. Schumacher celebrated first store German designer Dorothee Schumacher celebrated the opening of her label Schumacher s first store in London in September Aux Pains de Papy, Grays Inn Road, London 180 locationgroup research Retail Market Study 2014

42 Continental Europe Schumacher, Ledbury Road, London The new Schumacher store is situated on Ledbury Road 66 68, in the historic, fashionable neighbourhood of Notting Hill in West London. The German brand, launched by Dorothee Schumacher in 1989, is stocked in 45 countries across the world and has become synonymous with an easy chic take on the key trends every season. Aldi opened first convenience store Aldi has opened its first convenience store as it targets a slice of London s on-the-go market. The retailer launched the new format in a former Peacocks store on Kilburn High Road in April It is 7,000 square feet, half the size of an average Aldi shop, which usually covers 15,000 square feet. Westfield Mall Opening of the first Mascotte store in the United Kingdom International footwear and accessories brand, Mascotte has launched their first UK store in Westfield London. Mascotte has injected high impact activity on the new location, where visitors are able to view the full collection of shoes & accessories from the brand. The official launch was unveiled in April US electrical car retailer set up showroom Tesla has opened its debut UK store in London. The Silicon Valley-based retailer has agreed a deal to open a store of between 2,000 4,000 square feet at Westfield London. The store is its first in the United Kingdom. Zatchels opened Leather accessories brand Zatchels launched its first standalone store in Westfield London at the end of September Opening on 30 th September, the store marked the brand s official first ever stand-alone retail boutique, after a number of pop-up shops. Situated on the first floor atrium, the boutique is oppo - site Hollister. Bobbi Brown reached in Westfield London Beauty brand Bobbi Brown opened its first stand-alone UK store at Westfield, London in November The 927-square-foot shop formed part of the beauty brand s global expansion strategy to open stores in major cities. Bobbi Brown was one of three new beauty openings at Westfield London. Molton Brown signed to open a shop in the scheme in October while cosmetics giant Mac relocated to a larger 2,000-squarefoot shop in the centre in early October South African brand Browns came to Stratford City Westfield has signed South African diamond jewellery manufacturer Browns for its UK debut among a series of new lettings at its Westfield Stratford City shopping centre in east London. Brown s has locationgroup research Retail Market Study

43 Continental Europe joined jeweller Swarovski s latest brand Cadenzza in choosing the mall, opposite the 2012 London Olympic Park, for opening its UK store. It opened on the ground floor on 13 th June. David s Bridal initiated UK launch this autumn Wedding and occasion wear giant David s Bridal made its debut in the United Kingdom in autumn 2013 by opening its doors to its first British store in London s Westfield Stratford in October. Bluewater Danish mattress brand Tempur Mattresses opened first UK store Danish mattress brand Tempur Mattresses, which uses NASA technology to create its products, opened its first store in the United Kingdom in Bluewater shopping centre in the summer The 4,000-square-foot store is the brand s third worldwide, following two in the United States. The brand, which is the biggest retailer of wedding and occasion wear in the United States and claims to dress one in every three brides over in the States, has been preparing to expand its wedding destination format on an international scale, choosing the UK as its first port of call. John Lewis eyed opening in one billion Pound Westfield London extension The department store chain John Lewis has agreed a deal to open its fourth London store at an extension of the Westfield Shopping Centre. Westfield has drawn up ambitious plans to extend its shopping centre in Shepherd s Bush, which opened in It has outlined planning permission for work to begin on a one billion Pound scheme next to the existing centre that includes 550,000 square feet of retail, led by a department store, along with 1,500 homes, restaurants, and offices. The new John Lewis would provide competition to the Marks & Spencer, Debenhams, and House of Fraser stores already at the Westfield centre. Topshop topped up Bluewater confirmed agreement terms with TopShop for a specially created 30,340-square-foot store on two levels. The new store, situated on Bluewater s Upper Rose Gallery, has been created by combining and extending two existing units. Topshop Bluewater opened its doors in the autumn of Bluewater struck O 2 deal to enhance customer experience Bluewater has struck a deal with mobile phone operator O 2 aimed at digitally enhancing consumers physical shopping experience in Kent s shopping centre. Bluewater offers complimentary O 2 Wi-Fi access throughout the scheme. Lend Lease signed with Cadenzza and Vans for Bluewater Cadenzza, the multi-brand premium jewellery concept from Swarovski Group, has opened its first store outside London, and only its second in the United Kingdom, at Bluewater. The 893-squarefoot store, situated on Bluewater s lower Guildhall, was opened in time for Christmas David s Bridal, Westfield Stratford City, London One New Change, London O 2, Bluewater Shopping Centre, London Vans, Bluewater Shopping Centre, London 182 locationgroup research Retail Market Study 2014

44 Cadenzza was the second new Swarovski Group brand to select Bluewater for its initial move outside London. It follows the opening of an 862-square-foot Lola and Grace, the contemporary jewellery and accessories brand by Swarovski, located on Bluewater s upper Rose Gallery. In addition, Vans has opened a 2,882-square-foot regional flagship at the centre. Situated opposite Lola and Grace, it is the first official Vans store in the South East and opened for trading in summer Lend Lease bagged Cocoba for Bluewater Lend Lease has signed Cocoba, the luxury hot chocolate brand founded by Darren Litton, for its first chocolate café outside London, at Bluewater in Kent. The 1,050-square-foot café is located on Bluewater s lower Rose Gallery, adjacent to John Lewis, and opened in the early autumn The café is Cocoba s flagship and only its second outlet in the United Kingdom. 2,187-square-foot store opened in late summer and aims to make use of the latest technology to enhance the experience of choosing and booking a holiday. Jack Wills snapped up a space in Bluewater Fashion and lifestyle brand Jack Wills opened a new store at the Bluewater shopping centre. The 3,487-square-foot store on Bluewater s lower Guildhall was launched in time for Christmas 2013 and stocks the brand s full range of clothing for men and women, home-ware and gifts. Bluewater welcomed Reebok Reebok has opened a 2,690-square-foot statement store at Bluewater, its largest in the UK outside central London. Opening in time for Christmas 2013, the store serves as Reebok s flagship for the South East, and stocks the brand s full range of clothing, merchandise, and fitness apparel. Continental Europe Bluewater added Thomson to its store list The Travel operator Tui has opened its first next generation store of Thomson at Bluewater shopping centre in Kent. The new Victoria s Secret snaps up Bluewater Victoria s Secret and its sister brand, Pink, are to open their first stores in the South East in the former TopShop unit on Bluewater s lower Topshop, Bluewater Shopping Centre, London locationgroup research Retail Market Study

45 Continental Europe London Designer Outlet rendering Thames Walk. The two brands will occupy a total of 12,000 square feet and will open in the spring of Kipling came to Bluewater Premium luggage brand Kipling moved into Bluewater shopping centre at the end of October The brand, owned by VF Corporation, opens a 1,750-square-foot store at the Upper Rose Gallery, joining new outlets from Victoria s Secret, Reebok, Jack Wills, Cadenzza, and Lola & Grace. London Designer Outlet Wembley designer outlet signed up Villeroy & Boch, Oneida, and Lavazza London s first designer outlet, next to Wembley Stadium, had signed up a batch of new names including homeware retailers Villeroy & Boch and Oneida as well as Italian coffee giant Lavazza. They join shops including Marks & Spencer, Nike, Armani Exchange, Superdry, and LK Bennett at Quintain s London Designer Outlet, which was opened later in Jubilee Place Jubilee Place attract international retailers to the mall s extension Canary Wharf has signed many retail brands due to available spaces in the new Jubilee Place shopping mall extension. The 44,000-square-foot Jubilee Place extension that took place in early November 2013 has added 25 new stores to Canary Wharf s existing retail offer. In November 2013, leading premium fashion brands Banana Republic and COS opened within the new extension, alongside independent designer swimwear brand Orlebar Brown, The White Company, cosmetics brands bareminerals and Rituals, Oliver Bonas, Emmett Shirts and Le Pain Quotidien. Sportswear retailer Asics has taken a 2,835-square-foot space and British jewellery brand Monica Vinader opened its second boutique in a 570-square-foot store. Michael Kors, Schuh, Tiger of Sweden, and Godiva also join the line up in the mall. The Bentall Centre COS reached the Bentall Centre H&M-owned fashion retailer COS further extended its reach in London and the South East. The retailer has opened another new store in the Bentall Centre in Kingston upon Thames. the Bentall Centre had been undergoing a 3.25 million Pound refurbishment to create additional retail and food space. The works were completed in October The COS store opened a 6,600-squarefeet space on the first floor in the autumn, joining retailers such as Apple and Superdry at the centre. The Jubilee Place extension combined with the Group s 115,000-square-foot retail development above the new Canary Wharf Crossrail Station represents one of the largest retail expansions currently underway in the United Kingdom. Brent Cross Two international brands signed at Brent Cross Standard Life Investments UK Shopping Centre Trust and Hammerson, joint owners of Brent Cross shopping centre, have completed deals with two international retailers, Kiehl s and Kipling. 184 locationgroup research Retail Market Study 2014

46 Both signings are new to Brent Cross, with skin and hair care brand Kiehl s taking a 675-square-foot store and handbags and accessories retailer, Kipling taking a 685-square-foot store which showcases Kipling s latest shop fit, recently launched at its Knightsbridge store. The new stores are next to one another on the upper level of Mall 5, close to Reiss and Kurt Geiger and both stores opened in time for Christmas including cosmetic cases, bags, wallets, passport covers and phone cases, as well as a range of must-have underwear. The Yellow Line launches first UK concept store Luggage specialist Rolling Luggage has partnered with VF Group to launch a new luggage store called The Yellow Line. The two companies have chosen London s Luton Airport as the first location for the new concept store which sells brands such as Eastpak, North Face, Kipling, Timberland and Napapijri. Continental Europe International airports in London Victoria s Secret opens first UK airport store in Stansted American lingerie brand Victoria s Secret opened its first UK airport Beauty and Accessories store at London Stansted in January 2013, providing passengers with access to luxury beauty and body care products, fragrances and make up kits. Victoria s Secret beauty & accessories now at London s Luton Airport Victoria s Secret has opened its first beauty & accessories store in London Luton Airport, in collaboration with World Duty Free Group (WDFG). The first UK opening with WDFG took place in London Stansted Airport in January The duty free store is located in the international departure lounge and offers an exclusive collection of chic branded accessories, The 956-square-foot shop, which opened for business on 1 st June, carries an assortment of best-selling Victoria s Secret beauty products. Victoria s Secret Stansted Airport, London locationgroup research Retail Market Study

47 Continental Europe Harrods, Gatwick Airport, London Havaianas launched first airport store On 20 th June, footwear label Havaianas has opened its first airport retail location in the departure lounge of Heathrow s Terminal 1. Showcasing the iconic Brazilian flip-flops, this new location sees the brand targeting last-minute purchasers looking for a summer footwear staple. John Lewis to open Heathrow store John Lewis is making its first move into airports by opening a new store at Heathrow Airport. The retailer is investing over one million Pounds in the 3,600-square-foot store which will open in June 2014 in Heathrow s new Terminal 2. John Lewis said the shop will combine the best of home, fashion, gifting, and seasonal ranges and is part of its strategy to grow its international customer base. the retail space. Aspinal of London and Ernest Jones have opened stores for the first time in a UK airport while Harrods unveiled a 6,027-square-foot store focusing on fashion and accessories on 1 st August. An additional 12 new and refreshed retail outlets completed the transformation of the South Terminal departure lounge by the end of The North Terminal retail space has been also undergoing changes, including the opening of the first Ted Baker accessories-only store in Dixons Retail unveiled new concept store in Gatwick Airport Electrical retailer Dixons Retail has unveiled the first in a series of new concept stores for its travel brand, Dixons Travel, at Gatwick Airport in the the South Terminal. The store houses 1,100 products including the latest tech and travel essentials across 1,463 square feet of space. The new Terminal 2, to be known as Terminal 2: The Queen s Terminal, is the latest phase of the five-year, 11 billion Pound transformation of Heathrow. John Lewis, Heathrow, will be situated on the top floor of the departure lounge. The new store will create around 40 jobs. Airport shopping took off at London Gatwick On 18 th July 2013, ten new and refreshed stores opened at London Gatwick s South Terminal as part of a complete refurbishment of Gatwick Airport announced further exciting additions to its retail line-up London Gatwick announced that Zara, Ted Baker, and Snow+Rock have all taken up residency in the South Terminal s newly developed retail environment in the departure lounge in early December Zara opened a 4,500-square-foot outlet, its largest UK airport store to date. Ted Baker launched a 1,000-square-foot store, following the success of the brand s North Terminal fashion store and bespoke Gatwick accessories outlet the only one of its kind in the world. 186 locationgroup research Retail Market Study 2014

48 Opening its first airport store, Snow+Rock provides a unique premium leisure offering to Gatwick passengers. Focusing on footwear, accessories, and clothing, the 1,000-square-foot store appeals to passengers travelling during the ski season and more broadly on outdoor-focused holidays. New hotels Developers of Bulgari Hotel in London could open second hotel in London operated by Armani Prime Development, controlled by a group of investors led by Spanish entrepreneur Rafael Serrano, which developed the first Bulgari Hotel & Residences in London, has been said to be in advanced discussions with local authorities to turn the iconic Admiralty Arch in London into an ultra luxury hotel of up to 100 rooms and suites. The price tag to acquire the building is estimated at 75 million Pounds. The developers are considering several operators, including Armani Hotels. A joint venture between Giorgio Armani S.p.A and UAE based Emaar, Armani Hotels could not only manage but also invest in the new project. The investment for the extensive renovations and restorations could exceed 100 million Pounds, without considering the fit-out. Rosewood Hotel on High Holborn The Rosewood London, located on High Holborn in the former headquarters of the Pearl Assurance Company, is offering 262 guestrooms and 44 suites to the market. When the hotel was completed, following a 130 million US Dollar investment, it revealed some of its uniquely displayed original Edwardian features, including the original carriageway entrance to the arrival courtyard and the grand seven-storey marble staircase within the property. Rosewood Hotels & Resorts negotiated with the owner of the Crillon Hotel in Paris to sign a long-term management contract as Rosewood Paris Hotel when the hotel re-opens in 2015, following extensive renovations and restorations. Shangri-La Hotel at The Shard opened Asia Pacific s leading luxury hotel group, Shangri-La Hotels and Resorts, opened its first property in the United Kingdom in the summer of London s first elevated luxury hotel occupies levels 34 to 52 of The Shard. As with every property in the group, it operates on the simple yet powerful philosophy of Shangri-La s legendary hospitality. Continental Europe Dixons Travel, Gatwick Airport, London locationgroup research Retail Market Study

49 Continental Europe Admiralty Arch, London 188 locationgroup research Retail Market Study 2014

50 Continental Europe locationgroup research Retail Market Study

51 Preview Volume North and Latin America 50 Biggest International Retail Real Estate Investments Preview Americas No. Buyer Seller Country/City Project/Property Total area (sqm) Transaction Value (US Dollar, Millions) Date of closing deal 1 Carrefour Klépierre France/Spain/Italy 127 Shopping Centres 476,000 2,700 December Kroger Harris Teeter USA 212 Harris Teeter 2,440 July 2013 Supermarkets, Inc. Supermarkets 3 Starwood Capital Group Westfield Group USA 7 Shopping Centres 1,640 4 th Q DDR Corp. Blackstone Real Estate Partners VII USA 5 Blackstone Group UBS USA/New York, Washington, D.C., San Francisco and San Diego 6 Westfield Port Authority of New York and New Jersey 7 A family from Brunei United Kingdom/ London 8 British Land Aviva Plc and other investors United Kingdom/ London 9 Fortune REIT manager ARA Asset Management 10 O Connor Capital Partners Cheung Kong (Holdings) Ltd. 95% common equity ownership interest in 30 of these Shopping Centres Portfolio of 40 Shopping Centres 1,460 4 th Q ,000 1,100 February 2013 USA/New York World Trade Centre 40, December % of property along Queensway (including Whiteleys Shopping Centre) 775 September 2013 Paddington Central 111, July 2013 China/Hong Kong Kingswood Ginza 61, September 2013 Westfield Group USA 6 Commercial Centres in Florida st Q Witkoff Group Leona Helmsley USA/New York Helmsley Park Lane Hotel 660 November Hines/CalPers Morgan Stanley Real Estate Russia/Moscow Metropolis Shopping and 205, July 2013 Investing Entertainment Mall 13 Starwood Capital Group Kooperativa Förbundet Sweden 7 prime location retail parks and shopping gallerias 205, November Allianz Finance Immofinanz Poland/Katowice Silesia City Centre 85, September Quantum Immobilien LBBW Immobilien Germany/Munich Hofstatt Quarter 34, October Hammerson, CCPIB Australian Future Fund United Kingdom/ Bullring Shopping Centre 93, May 2013 Birmingham 17 Corio Multi Corporation Germany/Berlin Boulevard Berlin Mall 76, January Constellation Hotel (Opco) UK S.A. InterContinental Hotels Group United Kingdom/ London InterContinental London Park Lane nd Q AustralianSuper British Telecom pension scheme United Kingdom/ Milton Keynes 20 Signa Berggruen Holding Germany Karstadt stores in Berlin s KaDeWe, Hamburg s Alsterhaus and the Oberpollinger store in Munich 21 Fattal Hotel Management InterContinental Hotels Group 22 F&C REIT Grosvenor Shopping Centre Fund Germany United Kingdom 23 Intu Properties Legal & General Property United Kingdom/ Milton Keynes 24 Kennedy Wilson/ Varde 25 M&G Real Estate Tesco Pension Fund United Kingdom/ East London, Durham and Swindon 26 Primaris Retail REIT Sherwood Park Mall Ltd.,/ Markalta Developments Ltd. / Sleeping Bay Building Corp. The Centre MK 120, December 2013 Portfolio of 22 Holiday Inn hotels Eastgate Centre in Inver ness Freshney Place in Grimsby Coopers Square in Burton-on-Trent Mid-summer Place Shopping Centre 410 September February , st Q March 2013 United Kingdom 8 Shopping Centres 213, September 2013 Canada/Edmonton and Medicine Hat, Alberta 3 Tesco Superstores 41, May Shopping Centres 377 February locationgroup research Retail Market Study 2014

52 No. Buyer Seller Country/City Project/Property Total area (sqm) Transaction Value (US Dollar, Millions) Date of closing deal 27 ISPT Core Fund Federation Centres Australia 4 sub-regional Shopping Centres 371 July Oxford Properties Japanese corporation United Kingdom/ London Stock Exchange 23, April 2013 Mitsubishi Estate Company London 29 RioCan Real Estate Investment Trust 30 Meyer Bergman / Thor Equities 31 DDR Corp. / The Blackstone Group L.P. Primaris Retail REIT unnamed Middle Eastern family Regency Centres Corp. Canada/Burlington, Oakville France/Paris USA/Los Angeles, San Diego, Washington DC, Portland, and Cincinnati. 32 Invesco Hammerson/Aviva United Kingdom/ Peterborough 33 Montez Income Properties Corporation Burlington Mall Oakville Place Avenue des Champs-Elysées Portfolio of 7 prime Shopping Centres Sears Canada Canada 4 regional Shopping Malls in Drummondville, LaSalle, Saint-Jean-Sur-Richelieu and St. Jérôme 34 British Land F&C REIT United Kingdom/ Aberdeen 35 CapitaMalls Asia Capital Airport Real Estate Group 114, February July , August 2013 Queensgate Shopping Centre 77, December 2013 Bon Accord & St Nicholas Shopping Centres 315 January , October 2013 China/Beijing Grand Canyon Mall 70, July Vornado Realty Trust Madison Capital USA/New York Fifth Avenue 655 5, th Q Thor Equities Extell Development Co./ Madison Avenue 680 3, January 2013 Angelo, Gordon & Co. 38 Redefine International 44, August 2013 Germany/Berlin, Hamburg, Ingolstadt Schloss Shopping Centre in Berlin Bahnhof Altona Shopping Centre in Hamburg City Arkaden Shopping Mall in Ingolstadt 39 KLP Fastigheter AB NCC Sweden/Stockholm Torsplan building 30, th Q Planigrupo Mexico 9 shopping malls 253 May 2013 Management 41 The Ratkovich Jamison Services USA/Los Angeles Macy s Plaza 223, June 2013 Company 42 PATRIZIA DEIKON GmbH Germany 86 German retail properties 133, July 2013 Immobilien AG 43 Episo 3 fund of Charter Hall Retail REIT Poland 5 Shopping Centres rd Q 2013 Tristan Capital Partners 44 Hyprop Investments Sycom Property Fund South Africa/ Somerset Mall 66, October 2013 Western Cape 45 British Land Wereldhave United Kingdom/ London Ealing Broadway shopping centre 27, February Intu Properties/ Canada Pension Plan Investment Board Spain/Asturias Parque Principado Shopping Centre 75, October Unnamed investor Auchan France 7 French assets 700, January AXA Real Estate NH Hotels Netherlands/ Grand Hotel Krasnapolsky 216 June 2013 Investment Managers Amsterdam 49 Tribeca Holdings Structadene Ltd. United Kingdom/ London Oxford Street 4, th Q The Crown Estate LaSalle Investment Management United Kingdom/ Newcastle Silverlink Shopping Park 18, September 2013 Preview Americas locationgroup research Retail Market Study

53 Preview Volume North and Latin America 50 Most Popular Store Openings No. Brand City Opening Location 1 Apple Berlin Kurfürstendamm 26 Store Size (sqm) Detailed News 5,000 The first Apple Store in Germany s capital of Berlin opened on 3 rd May 2013, as thousands of fans queued up to be one of the first get inside the company s latest flagship retail location. Set up at Berlin s Kurfürstendamm 26, the new shop is Apple s eleventh in Germany overall. Apple had developed the location for some time, but the store only became ready in May The new site is also Apple s largest store in Germany and Europe with 5,000 square metres of retail space. Pictures 2 Blancpain Shanghai 181 Taicang Road 600 On 14 th June 2013, Swiss watch brand Blancpain opened its largest boutique in the world in Shanghai. The boutique at 181 Taicang Road, in Xintiandi district, is the brand s third in Shanghai and its eighth in China. Spread over 600 square metres on two floors, the boutique presents the brand s creations and offers a range of additional services. 3 Bottega Veneta Milan Via Sant Andrea Italian luxury house Bottega Veneta announced in September 2013 the opening of its first Maison in the world, in the prestigious location of Via Sant Andrea 15, on the former space occupied by Ferre. The new Bottega Veneta store covers 700 square metres and features both men and women collections ready-towear, accessories, shoes, bags and home collections. 4 Bucherer Paris 12 Boulevard des Capucines 2,250 In partnership with Richemont Group swiss luxury watches and jewellery retailer Bucherer opened a large flagship store at 12 Boulevard des Capucines (former location of Old England). The two-storey boutique has an area of 2,250 square metres and opened its doors to the public in April Preview Americas 5 Chanel London New Bond Street 6 Chanel Geneva Rue du Rhone 43 1,171 On 10 th June 2013, Chanel unveiled its new London store, a 12,600-square-foot unit on New Bond Street directly across the street from Louis Vuitton s London flagship and next door to Dior. The boutique, at New Bond Street, is just a few doors away from Chanel s former space (at number 173), but it is far bigger, more imposing and more luxurious. 300 In February 2013, Chanel expanded its flagship store in Geneva. The new setting on over 300 square metres occupies the former space of Hermès and joins Chanel s premise at Rue du Rhone 43. This is also the largest flagship store in Switzerland. 546 locationgroup research Retail Market Study 2014

54 No. Brand City Opening Location Store Size (sqm) Detailed News Pictures 7 Christian Dior Sydney Castlereagh Street Australia s growing appetite for exclusive luxury brands is an unexpected boon for Christian Dior. Dior opened its first flagship boutique in Australia in Sydney in early February The multi-level store was designed to replicate Dior s renowned boutique on Paris s Avenue Montaigne. The boutique is located in the former Louis Vuitton store on the corner of King Street and 65 Castlereagh Street. 8 Dolce & Gabbana New York 717 Fifth Avenue 1,709 Italian luxury fashion house Dolce & Gabbana opened its new flagship store in New York at 717 Fifth Avenue in late April Spread over two floors with a total area of 18,400 square feet, the new Dolce & Gabbana store on Fifth Avenue features the designers interior signature pieces such as tufted velvet ottomans, oversized mirrors with gilded rococo frames, Venetian glass chandeliers and the occasional scroll-patterned damask wall panel. 9 Emporio Armani Madrid Calle Serrano After the 2012 opening in Barcelona of its first Spanish flagship store, Madrid captured a new Emporio Armani flagship store in April 2013, at Calle Serrano, 44, between the Prada and Loewe stores the luxury hub of the city. The new property in Madrid covers 800 square metres and features the full range of products for men s and women s ready-to-wear and accessories, including the EA7 and Armani Jeans lines. 10 Fendi Paris Avenue Montaigne In June 2013 Fendi opened its new flagship store in Paris at 51 Avenue Montaigne, neighbouring the Chanel Store and occupying the former Gianfranco Ferre store. Fendi s new store on Avenue Montaigne covers 300 square metres and features men s and women s leather goods, apparel and accessories. 11 Forever 21 Berlin Tauentzienstrasse Galeries Lafayette Beijing Xidan commercial district 3,000 Forever 21 has launched the opening of its first German store. Located in Berlin on Tauentzienstrasse 13, which was formerly operated by the companies Leiser and Hugendubel, the Californian fashion brand operates a total sales area of 3,000 square metres. The whole assortment of Forever 21 collection including labels such as Love21, 21Men, Forever 21+ and the cosmetic line Love&Beauty are sold. The official opening took place on 8 th June ,516 Galeries Lafayette Group continued its international expansion with the inauguration of a department store in Beijing on 18 th October, marking its return to China 15 years after the closure of its previous outpost in the country s capital. With a retail area of 32,516 square metres and 500 brands on offer, the six-storey department store in the Xidan area is the retailer s second largest worldwide, after its flagship on Boulevard Haussmann in Paris. Preview Americas locationgroup research Retail Market Study

55 Preview Volume North and Latin America Most Expensive Retail Locations Worldwide City Ranking by country 2013 Continent Rank Country City North America 1 United States New York, NY Asia Pacific 2 China Hong Kong Europe 3 United Kingdom London Europe 4 France Paris Europe 5 Switzerland Zurich Asia Pacific 6 Australia Sydney Europe 7 Italy Milan Asia Pacific 8 Japan Tokyo Europe 9 Russia Moscow Asia Pacific 10 South Korea Seoul Europe 11 Ireland Dublin Europe 12 Austria Vienna Europe 13 Germany Munich South America 14 Brazil São Paulo Asia Pacific 15 Singapore Singapore Europe 16 Spain Barcelona Europe 17 Netherlands Amsterdam Asia Pacific 18 Malaysia Kuala Lumpur Middle East & Africa 19 Israel Tel Aviv Europe 20 Denmark Copenhagen Preview Americas South America 21 Colombia Bogotá North America 22 Canada Toronto, ON Europe 23 Turkey Istanbul Europe 24 Norway Oslo Europe 25 Ukraine Kiev 548 locationgroup research Retail Market Study 2014

56 location average Average prime Rents/sqm/ prime Rents/sqm/ year in Euro month in Euro Fifth Avenue (48 th Street 59 th Street) 23,307 1,942 Queen s Road 19,528 1,627 New Bond Street 16,038 1,337 Avenue des Champs-Élysées 15,051 1,254 Bahnhofstrasse 11, Pitt Street Mall 7, Via Montenapoleone 7, Omotesando 7, Tverskaya Street 5, Gangnam Station 4, Grafton Street 4, Kohlmarkt 4, Kaufinger Strasse 4, Iguatemi Shopping Mall 3, Orchard Road 3, Portal de l Angel 3, Kalverstraat 2, Pavilion KL 2, Ramat Aviv 2, Østergade (Strøget) 2, Shopping Centres 2, Bloor Street 2, Nisantasi Area 2, Karl Johans Gate 2, Kreshatik Street 2, Preview Americas locationgroup research Retail Market Study

57 Preview Volume North and Latin America M&A Deals Worldwide Kering Group PPR rebranded to Kering In March 2013, the PPR Group was renamed into Kering which is the new corporate umbrella brand that encompasses François- Henri Pinault s collection of luxury brands owned by his family: Gucci, Bottega Veneta, Saint Laurent Paris, Brioni, Balenciaga, Alexander McQueen, Puma, Stella McCartney, Christopher Kane, Girrard Perregaux. PPR which stood for Pinault, Printemps La Redoute is obsolete, since the group sold Parisian Printemps department store many years ago, while La Redoute was sold in early But why was PPR not named Gucci Group? The Gucci brand is not only the largest in terms of sales but Pinault has understood the importance of its Italian identity. However, putting Saint Laurent Paris or Alexander McQueen under an Italian umbrella would not be feasible. As for the actual meaning of Kering, the group insists its inspiration is drawn from the Breton language, in which Kering means house or foyer. However, in Indonesian, Kering means dry or dried. It appears Pinault s ambitious rebranding has not only been rushed but also could not come at a worst time from an investment point of view, given the uncertainty surrounding Gucci s performance in China, the huge losses of Puma and the continuous investments into Saint Laurent Paris (recently rebranded from YSL) and Brioni both brands yet to reach the stability and growth of Bottega Veneta, the true flagship and engine of the entire group. Kering sold off Redcats childrenswear to Alpha Private Equity French retail conglomerate Kering agreed to sell its Cyrillus and Vertbaudet children s clothing brands to Alpha Private Equity Fund for 119 million Euro including debt. The deal was closed in the middle of The sale was the latest in a string of deals by Kering as it looked to sell off parts of its Redcats mail-order business, after it was unable to find a buyer for the operation as a whole. At the beginning of December 2012, Kering (still named PPR back then) announced it Preview Americas François-Henri Pinault 550 locationgroup research Retail Market Study 2014

58 Christopher Kane took top prize at 2013 British fashion awards would sell Redcats women s plus-size brand OneStopPlus Group to Charlesbank Capital Partners and Webster Capital. Kering sold Ellos to Nordic Capital French luxury and sports brand Kering confirmed the selling of Ellos, the Scandinavian unit of its Redcats business, to Nordic Capital for an enterprise value of 300 million Euro (395 million Dollar). The deal was closed in April Kering bought stake in Christopher Kane Kering bought another piece of London s lively fashion scene, striking a deal to acquire a 51 % stake in Christopher Kane. The French group said it plans to seize on the Scottish designer s notoriety and creative prowess to accelerate expansion and develop his business as a global luxury brand. Plans include opening Kane s first free-standing boutique likely in London in 2014 and adding a second ready-to-wear range. Financial terms were not disclosed. Kering acquired tannery Kering revealed that it has acquired France Croco, an elite producer of tanned skins. Located in the Normandy region of France, the tannery is believed to be the third largest in the world and supplies to the top fleet of luxury firms in Italy and France, including brands owned by Kering and its luxury rivals Preview Americas locationgroup research Retail Market Study

59 Appendix Sources Europe Overview Europe Overview Switzerland Zurich Appendix Geneva locationgroup research Retail Market Study 2014

60 user= Austrian Shopping Malls Overview Continental Europe London locationgroup research Retail Market Study Appendix

61 Appendix locationgroup research Retail Market Study 2014

62 563 locationgroup research Retail Market Study Appendix

63 Appendix Dublin locationgroup research Retail Market Study 2014

64 The Retail Location Specialists Store Letting Store Letting Rennweg 35 Zurich Maximilianstrasse 16 München Chur, Davos, Engelberg, Solothurn, Spreitenbach, St. Gallen, Wil, Winterthur, Zug, Zurich Geneva, Munich, St. Moritz, Zurich Bahnhofstrasse 40 Zurich Old Town Zurich Spring 2007 I Retail Advisor Summer 2012 I Retail Advisor I Retail Advisor I Retail Advisor Spring 2005 I Retail Advisor Autumn 2014 I Landlord Advisor Strategic Advisory Mariahilferstrasse 57 Vienna P. C. Hooftstraat 124 Amsterdam Maximilianstrasse 25 Munich Aarau, Lausanne, St. Gallen, Wil, Yverdon, Zug, Zurich Via Serlas 22 St. Moritz Athens, Budapest, Düsseldorf, Kolonaki, Munich, Stockholm, Warsaw Winter 2011 I Retail Advisor Spring 2013 I Retail Advisor Autumn 2010 I Retail Advisor I Retail Advisor Autumn 2014 I Retail Advisor I Retail Consultant Grand Rue 4-12 Montreux Bahnhofstrasse 28a Zurich Bahnhofstrasse 44 Zurich Rue du Rhône 47, Geneva Bahnhofstrasse 39, Zurich Kampen/Sylt, Kitzbühel, Zermatt Via Serlas 26 St. Moritz Autumn 2008 I Retail Consultant Autumn 2010 I Retail Advisor Spring 2014 I Retail Advisor Spring 2006 I Retail Advisor Summer 2011 I Retail Advisor Winter 2011 I Retail Advisor Store Letting Rennweg 23 Zurich Rennweg 28 Zurich Rue du Rhône 62 Geneva Munich, Lausanne, Zurich Rue du Rhône Geneva Promenade Gstaad Autumn 2007 I Retail Advisor Autumn 2006 I Retail Advisor Spring 2011 I Retail Advisor Spring 2011 I Retail Advisor Summer 2008 I Landlord Advisor Summer 2012 I Retail Advisor Rue du Bourg 35 Lausanne Bahnhofstrasse 53 Zurich Tenant Mix Study Retail Property Zurich Location Consulting Amsterdam, Antwerp, Brussels, Copenhagen, Geneva, Ginza, Lugano, Manhasset, Miami, Vienna, Zermatt Rue de Bourg 53 Lausanne Bahnhofstrasse 38 Zurich Winter 2008 I Retail Advisor Winter 2006 I Retail Advisor Spring 2006I Retail Consultant I Retail Consultant Summer 2011 I Retail Advisor Summer 2011 I Retail Advisor P.C. Hooftstraat 63 Amsterdam Spring 2014 I Retail Advisor G3 Mall Vienna Spring 2012 I Retail Advisor St. Gallen, Winterthur, Zurich 2006 & 2012 I Retail Advisor Rämistrasse 8 Zurich Winter 2010 I Location Developer Geneva Zurich I Retail Advisor locationgroup The Location Group I Amsterdam I Geneva I Hanoi I London I Munich I New York I St. Moritz I Zurich I T I

65 locationluxury locationpremium locationinvestment streetfront Location Group Europe The Hercules Building Rennweg Zürich Switzerland Location Group UK The Bosideng Building 28 South Molton Street W1K 5RF London United Kingdom Location Group Americas The Accessory Center 385 Fifth Avenue, 10 th Floor New York, NY United States of America Location Group Asia Research & Development 206 De La Thanh Street Hanoi Vietnam locationgroup ISBN