London is top of the shops!

30 May 2014

boarded up shops London is the world's leading retail brand.

Just over 55% of international retailers have a London presence, according to the CBRE's enticingly entitled report How Global is the Business of Retail?

The rest of the Top Three sees Dubai at No.2 and New York and Moscow sharing the No.3 slot.

A man named Eric Eastman, executive director, luxury goods & international retailers for CBRE, said:

"London now attracts more international visitors than any other capital in the world. A flood of brand-hungry overseas shoppers, many from China, has swept into central London. Space demand from luxury and international retailers has moved into hyperdrive as a result."

"There are simply too many global brands now for traditional pitches in London to absorb them, which is why we are starting to see lettings to Dior and Chanel in Covent Garden and Philip Lim and Carven in Brompton Cross."

The UK as a whole is the country with the most international retailers in the world, with 57.5% having a presence.

The report also shows that 31 new international retailers entered the UK high street last year, including J.Crew, Isabel Marant and Tom Ford, which opened their first standalone stores.

It is thought that retailers benefited from an increase in overseas visitors in 2012 – the year of the Olympics – and this legacy remains, with a record 8 million visitors in the first half of 2013. Well, it's nice to know we're No.1 at something isn't it? Unless you live outside London and hate it, that is.

If you fancy reading the full report - AND WHO WOULDN'T? - head here.

TOPICS:   High Street News   UK News

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