Major Chinese Brand Bosideng Opens European Flagship

July 26, 2012 - PRLog -- As London’s West End gears up to welcome the Olympic flame to the district, an anticipated £250 million investment is projected for the Olympic period in London’s West End, with over 50 new openings, including Chinese retail giant Bosideng, which opens just off Oxford Street tomorrow, on the eve of the Olympics Opening Ceremony.

Leading figures in property, retail, fashion and leisure joined Dame Judith Mayhew Jonas Chairman of New West End Company to announce continued and robust retail and leisure investment in London’s West End at a conference yesterday. The panel, included David Shaw Head of Regent Street Portfolio, Crown Estate; David Kenningham Executive Director Central London Retail CBRE; Kelvin Mak Chief Financial Officer, Bosideng; Caroline Rush Chief Executive, British Fashion Council; Will Bax Location Director Mayfair, Grosvenor; and Simon Thomas Chairman of the Hippodrome Casino and member of Heart of London Business Alliance

Dame Judith Mayhew Jonas, Chairman of New West End Company, said: “With over 50 new retail openings over the 100 day Olympic period there is clearly huge investor confidence in London’s West End.  The mix of flagship retail, world renowned restaurants, hotels and the wider leisure offer delivers UK and global brands access to over £7billion of shopper spend per year.”

The new retail and leisure openings have been tracked across Bond Street, Oxford Street and Regent Street and the surrounding area in what is increasingly referred to as London’s Luxury Quarter, as well as the leisure magnets of Leicester Square and Piccadilly Circus, which are overseen by business bodies New West End Company and Heart of London Business Alliance respectively.


Retail Openings

Retail openings over the 100 day Olympic period include Bosideng, the major Chinese clothing brand, which has more than 10,000 outlets in China, which has chosen the West End for its European flagship and headquarters; Victoria’s Secret opening next month on Bond Street, and Burberry’s European flagship due to open in September on Regent Street.  These retailers join the existing 211 retail flagships already doing business in London’s West End.

Openings in the London Luxury Quarter include Alexander McQueen on Saville Row; Oscar de la Renta to open its first European store on Mount Street shortly, Isabella Marant on Bruton Street and likewise home-grown talent Alice Temperley, who after 10 years in the industry will open her flagship store in London’s West End. All these stores are opening September or October.

A separate report by CBRE, tracked openings on Bond, Oxford and Regent streets which totalled 14 new store openings over the Olympic 100 day period, totalling more than 300,000 square feet,

Leisure

Major developments in the leisure sector include, the five star 160 room Alrov Hotel and Brasserie Zedel both of which open in the Regent Street area over the next 100 days.  London Luxury Quarter sees the opening of Banca, the collaborative brainchild of Zuma and Roka founders and entrepreneur Guiliano Lotto of Aurelia and Il Baretto on North Audley Street. The recently rebuilt Hippodrome Casino in Leicester Square, at 90,000 square feet the country’s largest casino, offers dining and cabaret entertainment across three floors and is a major new attraction in Leicester Square.  The casino joins the Empire Casino – Leicester Square and the world renowned sumptuous Ritz Casino – Piccadilly. 

Press Quotes – Property

David Shaw, Head of Regent Street Portfolio, The Crown Estate, who discussed Regent Street’s £1 billion investment strategy added; ‘The Crown Estate is regenerating two key areas: Regent Street and St James’s. The success in the 8 million sq ft, $5 billion holding can be seen with exciting new retail such as Nespresso and, later this year, Burberry’s world flagship.’

Will Bax Location Director Mayfair, Grosvenor said: “Grosvenor’s Mayfair strategy is about creating an outstanding environment where people want to live, work and visit.  This goes beyond buildings in recognising the importance of streets and public space to great neighbourhoods.  Our Mount Street project demonstrates the benefits of these improvement works with the Street becoming a global destination where demand for retail space far outstrips supply.”

Press Quotes - Retail

Bosideng’s CFO, Kelvin Mak comments, “A move to Europe has been an aim of Bosideng for some time. We’re excited to be launching our European menswear range in such a prominent location that is both an established international stage for worldwide brands and one of the world’s fashion hotspots. The opening of Bosideng London’s South Molton Street store on Thursday 26 July marks completion of a £35 million investment in the area and the beginning of an exciting journey.”

Caroline Rush, CEO British Fashion Council, says: "London’s West End continues to be a huge draw for brands from all over the world. It’s encouraging now to see brands choosing London for their first expansion outside their native countries, as well as investment from the incredible breath of creative talent that we have here in the UK. It is such an exciting time to be in London and working within the fashion sphere."

Alice Temperley, MBE says, “By locating to Bruton Street in the heart of the luxury shopping district, we’re able to showcase what we do with passion to customers from around the globe whilst moving on to our next stage of development. This is the first in a series of growth opportunities we’re targeting at the international market, and the West End is definitely the place to launch the first phase of our aspirations.'

David Kenningham, Executive Director, Central London Retail, CBRE, comments, “Central London is in the throes of a mini-retail revolution. While shopping in provincial markets is in the doldrums.  The West End is seeing a major influx of high-end luxury retailing: an influx that has pushed prime availability to the lowest levels in a generation, which is seeing retail expansion outside of the historic retail streets and into the surrounding lanes.”

Press Quotes – Leisure

Simon Thomas, Chair of the Hippodrome Casino, which was opened by Mayor Boris Johnson last week, and member of the Heart of London Business Alliance, spoke about this relationship at the event.  He adds, “Our success lies in the synergy between what the West End can offer - the very best in retail and world leading leisure venues. Simply put, London’s West End is so attractive to developers and tourists because it’s great shopping and an even better night out.”

FAST FACTS
   An anticipated £250 million of investment has come into the area, with over 50 new openings over the Olympic period

   CBRE’s tracker showed 14 new openings, expansions and up-scales in the key shopping streets of Bond Street, Regent Street and Oxford Street alone in the 100 days following the Olympics

   Retail openings over the 100 day Olympic period including Bosideng, the major Chinese clothing brand, which has more than 10,000 outlets in China

   211 retail flagships are already based in London’s West End with 120 international brands

   London’s West End is the largest retail space in the UK [1.5 million sq m], with a global mix of 1,000 retailers, 40 renowned theatres, 30 museums and galleries, 17 Michelin star restaurants and 7 tranquil green spaces

   There are 200 million visits to London’s West End each year, spending over £7.6bn

   The West End houses 40 per cent of London’s hotels, with a cumulative 65,000 hotel beds – both more than any other area in the UK

   In May this year, Leicester Square unveiled a dramatic transformation following a £15.3m investment, helping drive over 250,000 visitors every day to London’s entertainment hub