Savills Retail OPEN: Winter Issue Savills Open Winter 2017

winter 2017

Manhattan Transfer

Meet Luke Hersheson

The Rise and Rise of the Pop up

What is the attraction?

shifting consumer demands and the impact on the retail NYC landscape

Creative Director of Hershesons hair salons

WELCOME

Designed and produced by: Savills commercial marketing

‘Experiential Retail’ is a theme that everyone in Retail is talking about, in fact it’s power as a buzzword holds so much weight we are wary of overusing it. Often used as a way to illustrate the future of retail it’s actually becoming part of our present a lot more rapidly than we first expected, with some of the most successful retailers leading the way by already engaging with the customer on so many levels. When planning this issue of OPEN we wanted to include articles on trends in our domestic market as well as internationally, from pop ups to mini-me fashion to an overview of the shifting New York City market. The recurrent theme running throughout this issue, unintentionally we might add, is the idea that people want to think, feel and witness something that gives them a reason to get off their iPhone and get into London’s best shops. They want a great service, they want something personalised to them, they want to speak to someone who knows the products inside and out. There is no denying that e-commerce year-on-year is taking a bigger slice of the total retail sales pie, but we can’t forget that people still want to experience things, learn things and be a part of something. We hope this issue further demonstrates why we created this magazine, to help tell our story and voice our opinion of the market, whilst providing some interesting snippets of market intel. Enjoy! Savills Retail & Leisure team

on the cover: luke hersheson

digital magazine: real property media

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social media: Twitter @savills / Instagram @Savills / LinkedIn

website: savills.co.uk/retail

The team

Yes Please

One day in Madrid

Creative Director of Hershesons hair salons

would you Like to receive future issues of

With Erin Peyman

Interview

See all of our recent deals on pages 6, 8, 10, 11, 16 and 19

Mini-me is big business

The hottest new stores and restaurants in London

The rise and rise of the pop up

store?

WHAT'S IN

MY CITY

GLOBAL FOCUS

The new growth mantra for luxury brands

LUXURY

JUST OPENED

What will Oxford Street look like in 2037?

SAVILLS

A taste of Giant Robot

REVIEW

06+

London

The changes we can expect in the next 20 years

FASHION

Recent deals

Meet Luke Hersheson

SAVILLS

OPEN?

European FOCUS

Open for business

Street food now being served in E14

Bigger and better

Childrenswear is now a multi-billion dollar market

SPOTLIGHT

The affect of changing consumer demands on NY's retail landscape

A trend here to stay?

RETAIL TRENDS

Manhattan transfer

Get in touch with us

What to do and where to go

Childrenswear retailer Four Fairies and a Prince

Everybody is doing it these days. The question is, why?

Please contact Sarah Goldman or Tiffany Luckett for more information.

A good example of luxury brands making the most out of pop up stores was Chanel’s 2016 pop up near Gangnam Station in Seoul. Designed around Chanel’s beauty and fragrance collections, in particular Coco Mademoiselle, the pop up was fun, youthful and digitally focused to attract a young and creative audience. Chanel also developed a mobile app specifically for the pop up, creating a puzzle game for visitors, with winners given access to special gifts as they moved through the store. Visitors could try out products, but not directly buy them in-store.

This has resulted in pop ups becoming a go-to marketing strategy for many growing retailers looking to drive this awareness and ultimately their growth.” Pop ups recently housed by Sloane Stanley include Brazilian fashion brand Blaiz, fashion boutique Atty London, dairy free ice cream brand Nana Nice Cream and childrenswear retailer Four Fairies and a Prince. Sloane Stanley has also included a permanent pop up store within its portfolio on King’s Road. Hannah continues: “We decided to create a dedicated revolving pop up space within a prime retail unit at 340 King’s Road, carefully curating the best selection of brands possible to complement and enhance our retail offering. We are proud to offer these exciting designers and entrepreneurs their first opportunity to trade within a thriving shopping destination and amongst leading high street and international brands.”

The pop up experts

Browse the pages of any 'what’s on' guide this week and you can bet they will be flagging up the latest pop up shop ‘in town for six weeks only’ or restaurant concept that will ‘knock your socks off’ with 20 different versions of cheese and toast. From Louis Vuitton, Cadbury and Kanye West to lesser-known emerging brands such as Blondies Kitchen and Sweetpea & Willow, everyone has done, is about to do or is currently doing a pop up. But why? What is so appealing to brands about the pop up concept and what options are there for retailers and start-ups thinking of giving it a go?

In 2016 Fendi did an Italian-ice-cream-truck-turned-intricate-floral-display while Moncler did a ski-themed pop up store at Doha Airport. The goal is to keep things fresh, with pop ups reflecting the way people want to shop today, with an experiential, customisable factor which makes the product they are purchasing unique to them. The sense of urgency created by the ephemeral nature of the pop up also encourages the consumer to buy limited edition items before they sell out or the store disappears. And the best bit about luxury brands doing pop up shops? Even if you can’t afford one of their products, visiting one is like visiting a beautiful, haute-couture, fashion-focused art gallery.

The high street pop up

The

of the

Contact Laura Salisbury-Jones for more information

pop up

RETAIL TRENDS

RIGHT: Garbstore pop up, Seven Dials BELOW: M.C. Overalls pop up on Carnaby Street

A temporary store offers us the flexibility to test a brand new concept...

FITNESS

Chanel pops up in Seoul

rise

The goal is to keep things fresh... reflecting the way people want to shop today, with an experiential, customisable factor which makes the product they are purchasing unique to them.

Contact David Bell for more information.

rise

and

The luxury pop up

Pop ups have previously been associated with small scale start-ups and vacant units, but a number of landlords and luxury brands have shown that this is no longer the case. At the beginning of 2017 Louis Vuitton did a men’s African print-themed pop up in Milan and, after its epic collaboration with Supreme, the brand has also announced five Louis Vuitton x Supreme pop ups in Tokyo, Seoul, London, Beijing and Paris. In addition to this, in October Louis Vuittion opened a pop up store in Brookfield Place, New York City which launched at the same time as the 'Volez, Voguez, Voyagez – Louis Vuitton' exhibition in the nearby American Stock Exchange building. The exhibition tells the story of the House of Louis Vuitton dating back to 1854 and will run until January 2018 with the shop staying open through to March 2018.

Pop ups are a great way for fashion retailers to generate brand awareness within a specific time frame and to an engaged audience.

King’s Road in Chelsea has a heritage of unique boutiques and one-off retailing. Today, while that still exists, the street is also now popular with ‘London village retailers’ who collect in their masses in premium postcodes throughout the city: the Sandros, Zadigs and Liu Jos of the retail world. Sloane Stanley has evolved the retail portfolio to sustain an ‘affordable luxury’ offer, recognising the need to attract premium brands with a distinctive experiential offer, whilst championing unique retailers and interesting concept stores, to create a thriving and unique destination in one of the Capital’s most prestigious locations. The Estate were one of the early pioneers of pop ups, being one of the first to sign up with pop up specialists Appear Here. They have a dedicated revolving pop up space, The Concept Store on King’s Road. To create a compelling retail offer, they hand pick the tenants that offer something unique and different to a standard bricks and mortar store, with many offering exclusive in-store experiences. Supporting a number of start-up retailers, as well as established brands, some have taken permanent stores due to the success of their pop up and ability to trial the location. Hannah Grievson, Commercial Property Manager at Sloane Stanley said: “Pop ups are a great way for retailers to generate brand awareness within a specific time frame and to an engaged audience.

The increasing trends towards sharing economies, efficiency and flexibility over the last five years has facilitated the increase of online marketplaces, such as Airbnb. With pop ups becoming an integral part of the marketing strategy for so many retailers, it is no surprise that companies such as Storefront, have had amazing success. Launched in 2014, Storefront matches occupier requests with spaces via its international online retail marketplace. In just three years, it has become active in all major global retail cities including London, New York, Paris, Milan, Amsterdam and Hong Kong, and has received requests from over 80,000 brands. They work with well-known international brands such as Karl Lagerfeld, Sonia Rykiel, Nike, L'Oréal, and Google with lots of emerging independent brands across different types of commercial spaces including high street retail, shopping centres, showrooms and event spaces. In recent months in London, Storefront has launched pop ups on Carnaby Street (M.C. Overalls), South Molton Street (Pritch London and Ganor Dominic) and in Seven Dials (Garbstore). Arina Pritch, founder of Pritch London, comments: "Storefront was integral for us to launch on this prime retail street. A temporary store offers us the flexibility to test a brand new concept, while Storefront's deep portfolio of spaces across the city allowed us to locate the perfect space to fit our brand requirements." With the volume of requests for flexible temporary space rapidly increasing by +40 per cent, this so-called trend does not look to be abating anytime soon.

Contact Tiffany Luckett for more information

Manhattan

ABOVE: Personalisation offering on the main floor of Coach's flagship store on Fifth Avenue

GLOBAL FOCUS

...the size, purpose and design of the typical retail flagship store will shift... this will mean smaller flagships, offering brand experience in an environment that entertains, excites and connects with the consumer.

There’s no question that the retail industry is at an inflection point, but the changes are not cyclical – they are structural. Millennials, and other digitally fluent shoppers, are realigning the mix between bricks-and-mortar and online retailing globally. This is definitely having an impact on Manhattan’s retail real estate sector as retailers realise they no longer need multiple stores for the convenience of their customers, but rather can operate fewer, strategically located stores to maintain and even grow their target customer base. One key structural change is the trend towards experiential retailing, with a particular focus on accessibility and creativity. From pure-play online retailers recognising the value in bricks and mortar to established global brands enhancing their flagship locations, successful retailers across the board are providing their NYC customer base with in-store experiences like never before. A prime example of this is apparel retailer Bonobos. Its bricks-and-mortar stores seamlessly integrate with its online platform, ensuring products are easily accessible to shoppers. Its ‘guide shops’ operate as showrooms in which customers can experience fabrics and fit, and receive feedback from sales staff. Items chosen in-store are then shipped to the customer’s home. Customers have an online Bonobos profile which outlines fit preferences, along with past orders, so they can easily order additional items tailored to their preferences.

A seismic shift in consumer demand is having a dramatic effect on the city’s retail landscape.

Please contact Susan Kurland or Victoria Oliva for more information.

LEFT: Rexy the dinosaur mascot inside the Coach flagship store on Fifth Avenue ABOVE: Bonobos flagship store on Fifth Avenue

If you believe everything you read about the state of the retail industry in the US you’d expect to see boarded-up stores, whole blocks of vacant retail space and urban high streets void of shoppers. But this just isn’t the case. The truth is that while the industry has certainly experienced a reset in terms of store closures, the retail sector in Manhattan continues to find success as retailers redefine the role of the bricks-and-mortar store. Why? Because the Manhattan market has three key ingredients for a healthy retail sector: a large, digitally-fluent customer base; a position as an international retail city; and an active shopper sector, both local and tourist, seeking unique ways to connect to its favourite brands.

As retailers continue to get creative with their in-store offering, one brand which has truly embraced the trend of personalisation is the renowned, Coach. Its Fifth Avenue flagship store has recently introduced Coach Create, a design-it-yourself experience that takes ‘customisation to the next level’. Here the consumer can add details such as monograms, pins, rivets and straps to their ready-to-wear bags, according to taste. The service, which is only available in-store, gives consumers a truly curated experience and, in turn, introduces them to a new way of engaging with the brand. Such retailers continue to redefine the traditional bricks-and-mortar location in Manhattan, no longer seeing it as merely a box for selling a product. They are integrating their stores with online retailing by selling a ‘lifestyle’; a tailored experience which resonates with the consumer and ultimately results in a connection to the brand that goes way beyond the physical sensation of seeing a product on a rack or shelf and focuses on the unique desires of the individual shopper. In the long run, the size, purpose and design of the typical retail flagship store will shift along with consumer buying habits and this will mean smaller flagships, offering brand experience in an environment that entertains, excites and connects with the consumer through innovative design, imagery and technical infrastructure. The retail landscape in Manhattan has changed dramatically, reflecting a seismic shift in consumer demand. However, the size, depth and diversity of the Manhattan retail market provides retailers with an enormous canvas upon which to create a portrait of a brand that appeals to a large, diverse demographic.

transfer

Please contact Lance Marton for further information.

Brand nu fashion brand from Turkey for Marylebone

Savills have successfully acquired four new units for Pret A Manger in the last few months. Adding to their portfolio of 486 stores worldwide, they have signed for another store in Westfield London and stores on Westminster Bridge Road, South Quay Plaza and Holloway Road. Terms have also been agreed on a further four sites that are anticipated to open early in the new year.

Pret Acquisitons

Please contact Tiffany Luckett for further information.

Nu fashion, a quirky brand with a very strong design aesthetic, have signed for their first London premises on New Cavendish Street in London. The brand have 15 stores globally. “We are excited to be taking the next step in our global expansion plans by bringing our brand to the UK. The profile of London as an international retail destination and mix of high quality brands in Marylebone made it an ideal choice for Nu,” said founder Hunkan Tellioglu.

SAVILLS recent DEALS

Please contact Laura Salisbury Jones for more information.

Cojean, the Parisian healthy fast food concept, have agreed a new lease at 13 Berkeley Street in Mayfair. This will be their second London store, having opened in Ludgate last year. The Cojean style involves minimalist décor, young and charming staff and a menu full of super fresh products prepared on-site each day. If you’re a fan of quinoa salads and bircher muesli then Cojean is a must-go!

Up-market, healthy fast food concept debuts from Paris in Mayfair

With its first London store in Notting Hill opening later this year, this Parisian childrenswear brand epitomises cool French style. Founder Thomas Cohen learnt his trade from his parents, who launched Bonpoint back in 1975.

This luxury Spanish childrenswear retailer has recently collaborated on a collection with Muzungu Sisters. Hailed by Vogue as the ‘only childrenswear collection which makes us wish we were four’, its designs are beautiful, wearable and very on trend.

ABOVE: Jennifer Lopez and her children for Gucci Children LEFT: Burberry Children store in Mall of the Emirates, Dubai, United Arab Emirates

Swedish childrenswear brand Mini Rodini is different in that it caters to kids and mums who like their fashion with a bit of an edge and who also care about the environment and sustainability. Madonna is also a huge fan.

It all started in 2008 with the Suri Cruise Fashion Blog. The daughter of Tom Cruise and Katie Holmes may have been only two years old, but her mother was already dropping US$1,000 on dresses for her from Bergdorf Goodman, and what Suri wore, other mothers wanted too. Suri is no longer the only fashion icon on the block: designs worn by Prince George and his sister Princess Charlotte sell as fast as those worn by their mother, HRH The Duchess of Cambridge. When Prince George shook hands with Barack Obama wearing a My 1st Years robe in 2016, it sold out within the hour.This insatiable interest in what celebrities’ children wear, driven by our daily exposure to social media, as well as the rise in the ‘mini-me’ culture, means that childrenswear is becoming increasingly big business, particularly at the top end of the market with brands such as D&G, Stella McCartney and Dior all launching their own childrenswear collections. A report by Global Industry Analysts predicts that the childrenswear market will be worth $291 billion by the end of 2020. So far in 2017, six luxury childrenswear stores have launched globally, compared with four openings in 2016. The Shoppes at Marina Bay Sands in Singapore has proved the most popular location, with Gucci, Kenzo, Paul Smith and Stella McCartney all opening childrenswear stores here. Seventy per cent of openings in 2016-17 have been in Asia, 20 per cent in the Middle East and 10 per cent in Europe.

The demand from parents for a mini version of the famous Moncler down jacket was so well-received that Moncler launched a kids’ brand in 2012, with jackets selling for around £500.

If there ever was a collection which enabled kids to dress like their parents, it’s Gucci Children, launched in 2010. Miniaturised bags and shoes, with the iconic interlocking G monogram, are available at only a slightly less cost than the adult versions.

Haute couture for five year olds. Expect to pay £5,000 for a dress – unless you’re Blue Ivy, whose mum Beyoncé shelled out nearly $11,000 on a Mischka Aoki dress for her daughter to wear to the VMAs. Suri is also a fan.

big

The top five luxury brands

Please contact Tiffany Luckett for more information.

Dolce & Gabbana

Burberry was one of the first brands to launch a luxury childrenswear line, recognising that it would create customer loyalty from a very young age and allow parents to match their toddlers’ outfits with their own. The best-selling product for toddlers is, not surprisingly, the trench coat, with Burberry check babygrows also selling well.

With its first London store coming soon to Brompton Cross, this Italian childrenswear brand is luxurious and perfect for special occasions.

Baby Dior does not follow a mini-me format. Instead, it’s essentially the ultimate princess collection, epitomising the legendary Dior elegance and opulence. It has also launched a children’s jewellery collection.

Gucci Children

FASHION

Baby Dior

Moncler Enfant

La Coquetta

Our top five niche brands

Il Gufo

mini-me

The undisputed master of mini-me design, D&G, aims at children and parents who want to stand out from the crowd. The company claims the childrenswear line is an important complement to the adult range and an essential part of the brand’s Italian family heritage. D&G lemon print dresses and swimsuits sold out simultaneously in both adult and children’s sizes.

Mini Rodini

ABOVE: Christian Dior Baby store, Paris

Mischka Aoki

Bonton

Burberry

A report by Global Industry Analysts predicts that the childrenswear market will be worth $291 billion.

An insatiable interest in how celebrities dress their kids has turned childrenswear into a multi-billion dollar market.

business

Azzedine Alaia, the renowned but distinctly private fashion designer, known for his independence and passion for discreet luxury fashion, signed for his first London store before sadly passing away in November. Having been looking for a store for many years in London, 139 New Bond Street, previously home to SJ Phillips, was decided to be the ideal space. The store will be the third store globally for the brand, having two stores in Paris and no own brand stores anywhere else in the world.

Please contact Anthony Selwyn for more information.

Alaia takes their first London flagship on Bond Street

SAVILLS DEALS

Renowned Italian pasta specialists Scarpetta are to open the doors of their third outlet in spring 2018. Having launched their first store in 2014 and their second last year in Canary Wharf, Savills are delighted to again assist Scarpetta in opening their third exciting location. Scarpetta itself represents a moment of joy, that moment when you take a piece of bread and wipe away the last of your pasta sauce from your plate so as not to waste a bit. Scarpetta are passionate about their pasta and make it fresh every morning. Save yourself a trip to Italy and get down to one of Scarpetta’s beautiful stores.

Artisan Pasta operator Scarpetta to open in Tower 42

Please contact Benji Ashe for more information.

INTERVIEW

A determination to start trends rather than follow them has kept Hershesons at the top of its game for 25 years.

MIDDLE & BELOW: Daniel Hersheson salon, Conduit Street, London

According to a recent survey*, the average British woman spends £47,000 on her hair during her lifetime. Women in the North West spend the most, at around £85 per month, followed by those in the South East (£81) and London (£78). The National Hairdressers’ Federation, meanwhile, puts the number of hairdressing, barbering and beauty businesses in the UK at just over 40,000. But as Luke Hersheson, Creative Director and Co-Founder of the Hershesons brand, points out, ‘It’s easier to get to the top than it is to stay there.’ Luke’s father, Daniel, launched Hershesons in 1992, with Luke joining him in the family business five years later. ‘My father was already making the link between hair and fashion, which nobody else was doing at the time,’ says Luke. ‘My aim was to build on that.’ Together, the Hershesons set about making their brand even more fashion-forward, more inventive and, frankly, more relevant to all those style-conscious women happy to blow north of £50 on their hair every month. ‘We wanted to challenge the norms,’ says Luke. To that end, it was Hershesons who imported the first straightening irons from Italy at the end of the Nineties. Hershesons who realised that women were tiring of poker-straight hair and pioneered a gently curling ‘Wavy Gravy’ style in the Noughties. Hershesons who came up with the permanent blow dry, the clip-in fringe, the fake ponytail. And Hershesons who, in 2006, invented the blow dry bar, offering ‘cool girl hair in 30 minutes’. ‘Everyone thinks the blow dry bar came here from the US. It’s certainly true that grooming has always been big business in North America, but the idea of a salon dedicated purely to blow drys was my father’s,’ says Luke. *VoucherCodesPro

But if a curly perm isn’t for you, don’t panic. ‘We would never be prescriptive about how women can and can’t wear their hair,’ says Luke. ‘It’s up to them. We do everything from up-dos to soft waves and beach hair. Our haircuts are democratic across the ages, with both trend and suitability at the heart of what we do. Hair styling should be about empowering women.’ Luke’s hair icons include actress Helen Mirren, whose silver tresses he recently styled for a US magazine cover, Nineties’ supermodel Linda Evangelista and Brigitte Bardot. Not surprisingly, his client list also includes a number of famous names, including Victoria Beckham, Sienna Miller (Luke was responsible for cutting the actress’s hair short in 2006) and Keira Knightly. As for the future, there are several top secret projects in the pipeline for next year. One thing is certain though: Hershesons has been at the top of its game for 25 years and constant innovation will always be key. ‘We’ve built up a very successful business but we’re not the new kids on the block anymore,’ says Luke. ‘We have to work hard to keep that edge; to keep coming up with the next big look that women – and men – want. Our customers have always been at the heart of what we do and that won’t change.’

cutting

Please contact Sarah Goldman or James Fairley for further information.

Hershesons has been at the top of its game for 25 years and constant innovation will always be key.

ABOVE: Daniel Hersheson salon, Harvey Nichols, London

ABOVE: Daniel Hersheson salon, Conduit Street, London

Luke Hersheson

the hair stylist at London's

‘At the time, the newly introduced congestion charge was having a significant impact on trade and we needed a way to generate some fresh publicity – launching a blow dry bar seemed like the answer.’ They were right. The bar, at Topshop’s Oxford Circus flagship store was an instant success and Hershesons now has three more across London and one in Birmingham. ‘A number of landlords have approached us over the years but location has to be the right fit,’ says Luke. ‘The margins aren’t great – we only charge £30 for a blow dry – so it’s more about adding brand value; about being pioneers – starting trends rather than following them.’ Luke is in a better position to start trends than most. Shortly after he joined Hershesons, he began doing session work for advertising companies – his first big job was styling supermodel Gisele for a global campaign for Missoni. Today not only does he style fashion shoots for all the leading glossy magazines, he is also a familiar figure backstage at London Fashion Week, collaborating with many of Britain’s top designers, including Emilia Wickstead, Anya Hindmarch, Osman and Molly Hoddard. Many of the looks Luke creates for the catwalk today hit the high street tomorrow – remember those braids sported by almost every female athlete in the Rio Olympics? That was down to Luke, who introduced them at the Vogue Festival in 2014, following up with a Braid Bar at the Topshop Showspace during London Fashion Week. At SS18, Luke used chopstick-thin tongs to give models a mass of bouncy curls, which means that this time next year we will all be channelling Julia Roberts in Pretty Woman or Carrie Bradshaw in Sex and the City.

edge

HERSHESONS www.hershesons.com

Opposite East Putney Station within the newly developed Putney Plaza Yum Sa have launched a Thai restaurant with a twist. After being involved with a variety of leading restaurant brands around the world Roger Narula has turned his attentions to London to launch his first independent restaurant. Yum Sa offers a truly innovative and authentic experience using only the finest Thai ingredients from their partner and suppliers FoodWerk. Yum Sa is a unique and exciting offer that is well worth a visit.

Golden Goose deluxe brand, whose first London store opened on Dover Street in 2015, has secured its second London premises in Brompton Cross. The Italian brand famed for its trainers, are taking 116-118 Draycott Avenue which has a prominent position fronting both Draycott Avenue and Walton Street, and being opposite the brand new 10,000 sq ft Chanel store, due to open next year. The brand has recently been brought by the Carlyle Group.

Please contact Tiffany Luckett or Oliver Green for more information.

Yum Sa pulls in to East Putney

Please contact Benji Ashe for more information.

SAVILLS DEALS

Benjamin Moore Paints take Chelsea

Golden Goose debuts in South Kensington

Benjamin Moore, the American paint brand established in 1883, has taken a store on Fulham Road in a parade of shops which houses a number of interior brands including CP Hart and ex Apprentice contestant Ella Jade’s first own shop.

Please contact Tiffany Luckett for more information.

Joe & the Juice sign for Fulham Road

SAVILLS DEALS

Please contact Tiffany Luckett or Oliver Green for more information.

Cadogan buys prime Kings Road asset

British heritage brand Derek Rose specialises in top quality loungewear. Only the finest materials are used and all patterns and textiles are designed in house. They currently have one premises in Notting Hill, and this will represent their second London store. Being housed next to Golden Goose and opposite Chanel, the premises is in the ideal location for them to tap into the discerning South Kensington shopper.

Derek Rose joins Brompton Cross

Cadogan Estate have bought a missing piece in their Kings Road puzzle, securing control over the Boots at 62 Kings Road by buying in the headlease granted to Railway Pension Fund, owned by Orchard Street. The property transacted in excess of £20m. Savills acted for Orchard Street.

Please contact Peter Thomas for more information.

Joe & the Juice have taken a Sloane Stanley premises on the Fulham Road, to add to their growing Chelsea and London portfolio. The brand now have 27 stores established in London, either trading or opening soon. This is their fourth in Chelsea, adding to their current units on Kings Road, Portobello Road and Kensington High Street.

Please contact Tiffany Luckett for more information.

2037?

There’s no doubt that pedestrianisation will be the foundation for an overall improvement in Oxford Street’s shopping experience.

And what will all this mean for rents?

In any competitive market one would expect retailers to come and go, and I would fully expect a similar turnover of retailers as we have seen in the last 20 years. It is easy to blame rent and rates increases as the sole reason for retailers moving off the street, but in truth the rents set are a direct result of the most basic economic theory – supply and demand. If the rents are too high then the retailers will not take up the supply. If they don’t take up the supply, then the rents will fall! We have rarely seen void rates higher than 5 per cent in Oxford Street, and that is probably the best indicator that retailers are generally comfortable with the level of rents. Infrastructure improvements will inevitably have a positive impact. Turnover has reportedly increased significantly in times when traffic has been banned. The economic indicators and historic data all point towards the fact that rents in London will continue to rise. In Q1 2017 year-on-year Chinese visitor numbers and spend were up a phenomenal 72.3 per cent and 33.6 per cent respectively, yet only 6 per cent of Chinese citizens currently hold a passport! We have just lived through a period of huge technological change, but many observers predict that the next 20 years will bring about more technological advancement than the last 20. If bricks-and-mortar retailing is still relevant (and most of us convince ourselves it will be) then retailers will need to work seriously hard to keep pace with the changes. But this technological change will also bring about some significant benefits. EasyJet have already announced that they expect to be flying electric planes within the next decade, and with continued technological advancement it is anticipated that the cost of travel will be significantly lower than it is now. As travel becomes easier, more and more shoppers will travel to the very best shopping destinations. Oxford Street and the retailers within it will be a huge beneficiary of the continued increase in overseas spend, and I expect this to be the key reason for continued rental growth. But as international spend becomes more and more important, Oxford Street is competing on the global stage and it must provide the infrastructure to offer what visitors want. When we carried out our Global Retail Ranking study in 2016, London ranked ahead of most global cities in terms of the choice and quality of shops, but behind Hong Kong, New York and Dubai in terms of the overall retail experience. So it is important that our planning laws have more flexibility to accommodate planning uses that will add to the vitality of the retail offer in the West End. The Westfield schemes are the current barometer for shopping experience, but the truth is that schemes outside Central London will never compete with London’s overall offer, which includes world-class hotels, restaurants and tourist attractions. However, consumers will not only need to be drawn into specific retail shops, they’ll have to be drawn to Oxford Street itself. If we are not held back by planning and poor infrastructure, then I for one am looking forward to seeing what the next 20 years has in store for Oxford Street.

What will

Please contact Alan Spencer for more information.

Street

LEFT: Topshop window display featuring live models on Oxford Street in 2017 FAR LEFT: The Dyson store which opened in 2017

When I started dealing with reviews in Oxford Street the only way of remembering the location of stores was either to commit them all to memory or to use a mammoth goad plan. Talking to clients on the phone was always a struggle when your desk was engulfed by a piece of paper twice its size. Looking at just such a plan from 1997 I am reminded of how things have changed over the last 20 years. Only 19.2 per cent of all the fascias on Oxford Street back then are still there today, making the plan a Who’s Who of retailers that have failed to stand the test of time (many younger readers won’t even know their names). In 1997 Sock Shop, which collapsed in 2006, had the most stores (six) on Oxford Street. Located on what is still the most prime section of the street were the likes of Oakland Menswear, Jeans West, Kookai, Naf Naf and Ciro Citterio. Back in the day these forgotten names really were the retailers of the moment. Now fast forward 20 years and try to imagine the Oxford Street of 2037. Clearly the imminent arrival of Crossrail and future plans to pedestrianise the street mean it will look different, but will history have repeated itself? Will 80 per cent of today’s retailers have disappeared in two decades? I wouldn’t rule it out. We have seen 15 closures since 2015, representing around 7 per cent of the total stock, and if we continue to see seven to eight stores close every year for the next 20 years, then we can expect 70 per cent of current retailers will disappear over the next 20 years. Future development and amalgamation of retail space will probably see that percentage rise even higher.

SPOTLIGHT

Oxford Street specialist, Alan Spencer, has been dealing with rent reviews and renewals on Oxford Street for almost 20 years. Reflecting on how Oxford Street has evolved over this time, he wouldn’t be surprised if 80% of today’s retailers have disappeared by 2037.

ABOVE: The Sock Shop, Oxford Street in 1997 BELOW: Oxford Street in 2006

So who will be there in twenty years time?

look like in

We can certainly expect to see a continuation of the trend for brands such as Dyson and Microsoft to take control of their own destiny by opening standalone stores. Oxford Street already generates £5 billion of the West End’s £8.5 billion of London’s annual spend and with a continued increase in overseas visitors and brand importance Oxford Street will be the shop window to the world for global brands. We are already witnessing retailers partnering with food and beverage operators to entice customers in and persuade them to stay and enjoy the store experience. Whilst we will continue to see the very latest fashion and flagship stores provide more interactive and virtual experiences on Oxford Street, I would expect an increased food offer too. I would also expect to see better use of upper floors to provide visitors with entertainment alongside a world class retail offer. In Spring 2018, Swingers will open above the former BHS store. I am sure it will be the first of many more leisure led offers along or in close proximity to Oxford Street. There’s no doubt that pedestrianisation will be the foundation for an overall improvement in Oxford Street’s shopping experience: people will be able to move more freely around the street, not feeling rushed or being herded from one point to another. But it will also mean retailers will need to work harder on drawing the customer in by creating interactive and more inviting shop frontages. Oxford Street stores will offer a much more experiential theme in 2037 than they do today.

Oxford

Oxford Street was previously called Tyburn Road after the Tyburn River which still runs underneath it.

Marks and Spencer’s Pantheon store stands on the site of a pharmacy where writer Thomas de Quincey bought his first supply of opium. De Quincey wasn’t a fan of Oxford Street, calling it a ‘stonyhearted stepmother, thou that listens to the sighs of orphans, and drinkest the tears of children’.

Oxford Street’s Christmas lights were turned on for the first time in 1959. When JFK was assassinated in November 1963, the annual ceremony was delayed as a mark of respect.

When D H Evans – now House of Fraser – opened in 1932 it was the first British department store to boast escalators to every floor.

In 1909 Harry Gordon Selfridge opened Britain’s first ‘democratic’ department store, meaning customers could walk through the store as they pleased rather than being shown from counter to counter.

John Lewis opened his first shop on Oxford Street in 1864. Initially it was a drapery shop selling ribbons and haberdashery.

Newgate prisoners used to be taken down Oxford Street to the Tyburn Tree at Marble Arch, where they were hanged. The tree has long gone but a stone marks the site where it once stood.

Oxford Street was once the main Roman road west out of London and was indeed the way to Oxford, but that isn’t where it gets its name from. Up until the early 18th century, Tyburn Road still marked the northernmost edge of the city, with open fields to the north leading towards the village of Mary le Bone. These fields belonged to Edward Harley, the Earl of Oxford, and the street was named after him in 1739.

The first HMV store opened at 363 Oxford Street in 1921. 1962, the store's recording equipment was used by Brian Epstein to record a demo by the The Beatles, who were then virtually unknown.

The basement of the old Peter Robinson store at Oxford Circus (now Topshop) was used by the BBC as a broadcast studio in the latter part of the Second World War.

Canada Goose opened the doors for its first London store in November, taking the 5,000 sq ft former Armani Exchange store at 244 Regent Street. The brand will have a full collection within the store, as well as displaying vintage pieces from the brands history. Canada Goose is capitalising on its Canadian heritage, using design elements including marble quarried from British Colombia.

Opening their flagship store set over three floors on Carnaby Street, Sweaty Betty continues to lead the way in experiential retailing by introducing trendy, health-conscious café, Farm Girl, and blow dry/braid bar, Duck & Dry. The brand will also continue to sell its usual apparel with ‘styling advice on tap’. Having already established a cult following through their free workout classes in a number of their high street stores, they have also launched ‘The Studio @ No.1 Carnaby’, an instore paid-for basement gym.

Sézane, the Parisian brand which initially started as France’s first online-only retailer, has taken a pop up store on South Molton Street. The brand specialises in high-quality, feminine classics, which are effortlessly cool. Exactly how you would assume most Parisian brands should be. The brand has permanent stores in Paris and New York. Taking their first global store, previously online-only luxury accessories retailer Hill & Friends has taken a permanent store on the street. The brand was established only two years ago and since has been stocked in high end departments stores such as Selfridges and Harrods. Prices for one of their luxury leather handbags start at £395 and go up to £795. Finally, Italian brand Giovanni Raspini have opened a store on South Molton Street. The jewellery brand have stores in 7 Italian cities as well as in Monaco.

just opened

The long awaited re-opening of Annabel’s is imminent. Previous members have been ousted, with an obligation to re-apply should they want to experience the 26,000 sq ft marvel spread over four floors, that will be the new venue at 46 Berkeley Square. Restaurants, garden terrace, private dining room, spa and cigar salon – the new Annabel's will have it. Not only will the club be brand new, but so will the dress code. Not only will the new members have to adhere to a strict code, but their pooches will be looked after by one of the world’s finest dog walkers, exclusively hired to serve Annabel’s guests (the whole club will be dog-friendly).

Boohoo owned US e-tailer Nasty Gal opened its first bricks-and-mortar store outside the US by way of a pop up at 3-4 Carnaby Street in November. The store opened from 2nd-29th November playing host to a range of temporary beauty counters from brow bars to nail bars in addition to holding weekly talks with some high-profile ‘boss ladies’. Giving customers the opportunity to preview the brands new Studio Collection as well as their autumn collection, items could be purchased online whilst in store via click-and-collect or next-day home delivery.

Our exclusive edit of the capital's latest retail and leisure openings.

Regulars to the queue at the Soho outpost of Sri Lankan restaurant Hoppers were overjoyed when a second, much larger, bookable branch sprung up on St Christopher’s Place. The incredibly successful eatery from JKS Restaurants have expanded the menu with a selection of feasting dishes. This 85 cover restaurant is set over two floors with a further four private dining vaults available for hire.

business

for

OPEN

New brands test out their first ‘offline’ stores on South Molton Street

Sweaty Betty takes customer experience to the next level

Canada Goose opens European flagship on Regent Street

Hoppers landS in St Christopher’s Place

Nasty Gal gets physical with first UK pop up

Annabel’s – Whispers & Rumours

Bob’s Lobster, Thunderbird and Yum Bun stalls

Giant Robot has gone for a warm and comfortable vibe... providing a fantastic, informal setting for people to eat, drink and be merry all year round.

Savills Central London Restaurant Agent Benji Ashe tucks in at the new street food venue in Canary Wharf.

A taste of

A friend of mine upped sticks and moved to Sydney just over five years ago. Just as suddenly he moved back to London last month and we arranged to catch up over some beers and a meal. When I suggested that we should leave the West End and go to Canary Wharf for the evening I was met with a deafening silence. But I persevered, insisting the area had changed. He relented and we made our way to Street Feast’s newly opened Giant Robot in Crossrail Place.

REVIEW

ROBOT

The setting of Giant Robot is quite exceptional, located above the station at the end of an indoor/outdoor botanical wonderland overlooking the water. Its futuristic and polished look means it’s a far cry from Street Feast’s first venture in a disused depot in Dalston. It feels different inside too: with a variety of hanging neon signs and a mixture of yellow and red lighting, Giant Robot is reminiscent of a Shanghai bar. We went on a Thursday night and the atmosphere was buzzing with a mixture of the suited and booted as well as those who’d swapped their pinstripes for check shirts, skinny jeans and Converse. Future masters of the universe enjoyed themselves with friends and colleagues, swilling craft beers and inhaling Ahi Tuna Tacos from Bob’s Lobster.

GIANT

Please contact Benji Ashe for more information.

ABOVE: Entrace to Giant Robot ABOVE LEFT: Beer Bar LEFT: Chipuffalo burger from Thunderbird

There is a good range of food options at Giant Robot, including the aforementioned Bob’s Lobster as well as Yumplings, Little Jose, Yum Bun and our choice, Thunderbird. Thunderbird began in West Hampstead, serving burgers, hotdog and ‘mind blowing’ cocktails; and this is its first foray into the world of street food. My friend and I both opted for the Chipuffalo burger which consists of fried chicken, chipotle (name clue), buffalo (second name clue), blue cheese, pickles, lettuce and chips on the side. Once we’d ordered we were each given a game-show-style flashing buzzer. We had just grabbed a couple of pints from the 36 tap Beer Bar and found somewhere to sit, when our buzzers sprang to life. The whole exercise took about half the time it has taken to write this paragraph. Let’s call it three minutes. We proceeded to wolf down our burgers, agreeing they were utterly delicious and that we needed to come back very soon to try some of the other options. Achieving the sort of character offered by genuine street markets within a new purpose built unit is nigh on impossible. Instead, Giant Robot has gone for a warm and comfortable vibe. It does not suffer from an identity crisis: it knows what it is and successfully sets about providing a fantastic, informal setting for people to eat, drink and be merry all year round. We had another pint or two before weaving our way back to the Jubilee Line. As we wandered through the ferns and bamboo plants, catching glimpses of Canary Wharf’s skyscrapers through gaps in the fronds, my friend announced: ‘You’re right. This place has changed.’

Tribeca have signed & Other Stories to their flagship building, the Flower Building at Old Spitalfields Market. This will be the sixth store in London, joining Regent Street, Kings Road, Covent Garden and two on Oxford Street. The brand will also be having a café in the outside space allocated to them within the covering of the Market, which will be the first time they have created a bespoke offering in one of their London stores. Old Spitalfields Market opened its new function ‘The Kitchens’ in October, which has become a roaring success. The concept, which brings together some of the ten most creative minds in food and drink, curated by Nuno Mendes (Head Chef of Chiltern Firehouse), looks to champion small and local businesses. Situated in the heart of the market, The Kitchens are a permanent feature, with fully functional kitchens. “In an age where retail and restaurants are becoming much more impersonal and en masse, we wanted to re-establish that unique connection between traders and consumers, creating a rewarding and personalised experience.” Commented Nuno Mendes. The rest of the market is being remodelled too, and by the end of the year will house 104 kitchen and market stalls, giving independent retailers a much needed platform to showcase their brands.

Please contact Tiffany Luckett or Sarah Goldman for more information

SAVILLS DEALS

What’s going on at… Old Spitalfields Market

Luxury store expansion in 2017 bore the brunt of the decline in luxury spend witnessed last year. Luxury spend globally declined 0.4 per cent in 2016 (Bain & Co) driven by a 3 per cent decline in Chinese spend in response to the Chinese Government’s corruption crackdown. With Chinese consumers now accounting for 30 per cent of global luxury spend this had a very significant and direct impact on retailers store portfolios with brands closing stores in over saturated markets in mainland China and Hong Kong. Less documented was the impact this had on confidence and occupational demand in other markets with new store openings in 2017 down 27 per cent year on year globally. Despite the headwinds facing luxury retailing destination markets remained relatively resilient. Destination cities in Europe and North America saw their market share of new store openings increase, Europe from 36 per cent to 38 per cent and from 15 per cent to 20 per cent in North America. In contrast China saw its market share decline from 9 per cent to 5 per cent.

Please contact Marie Hickey for more information.

ABOVE: Bond Street, London RIGHT: Fendi store, Bond Street, London

Bigger

This is apparent in the emergence of ‘accessible’ luxury brands and diffusion brands from the ‘ultra’ luxury players. For example, in Europe ‘accessible’ luxury brands increased their market share of new store openings in 2017 from 38 per cent to 45 per cent, with this shift being played out in brand line-ups across major cities. London is a prime example of this with the relocation, and new openings, of ‘accessible’ luxury brands from Bond to Regent Street and with it a greater intensification of ‘ultra’ luxury brands on Bond Street. Following the exponential growth in luxury retailing over the last 10 years where store expansion was the primary driver of growth it now appears that bigger and better, not just more stores, is the new mantra of growth as we move into 2018.

luxury

There are obvious cost benefits to streamlining store portfolios but changing consumer trends, and the changing role of the physical store, is also having a bearing.

Bigger and better – not just more stores – becomes the new growth mantra for luxury brands in 2018.

A refocus on destination cities was also apparent in those markets that featured in the top 10 for new store openings. Paris topped the rankings accounting for 5.9 per cent of all new openings followed by Tokyo and Singapore, but all the top ten shared similar attributes in terms of attractive domestic fundamentals and more importantly an increasing appeal to Chinese tourists. For example, Paris is one of the biggest destination cities for Chinese tourists in Europe attracting close to 440,000 visitors in the seven months to July 2017, 23.7 per cent up on the same period in 2016. Likewise, Tokyo has seen a 117 per cent increase in international arrivals over the last three years, much of this driven by Chinese arrivals. Considering that almost half of Chinese luxury spend takes place outside their domestic market, those cities that attract significant and growing numbers of Chinese tourists are increasingly appealing to luxury brands. While London and New York still featured in the 2017 top ten, helped by their global city status and appeal to international tourists they did move down the rankings placing fourth and seventh respectively. Last year London topped the rankings for new openings. For both these cities their high occupational costs no doubt exacerbated the headwinds facing luxury retailing tempering retailing confidence when it came to opening new stores. So, what does 2018 hold for luxury store expansion? Well the good news is that the unexpected bounce in Chinese luxury spend seen this year, up an estimated 11 per cent with global sales up 4 per cent, should feed positively into occupational demand particularly for those markets that attract significant numbers of Chinese visitors. Yet this is unlikely to result in a massive resurgence in new store openings but rather the focus will remain on strategic and under-represented cities globally. This is apparent in the target cities identified by the luxury brands themselves. We surveyed over 30 luxury brands asking them to identify their top target cities for 2018. While the major destination cities of London, New York, Paris and Milan all featured, it were the smaller under-represented markets of Miami, Munich, Frankfurt and Los Angeles that featured most frequently. While we expect total new store openings will increase in 2018 the streamlining and optimising of store portfolios will continue to be the major initiative, particularly amongst the larger luxury houses. Much of this optimisation will continue to revolve around store consolidation in key markets where there is the opportunity to open larger flagships in better locations.

&better

There are obvious cost benefits to streamlining store portfolios but changing consumer trends, and the changing role of the physical store, is also having a bearing. Firstly there is the growth in online. While it still only accounts for a small part of the market it is a segment that is expanding and is estimated could account for 25 per cent of total luxury sales by 2025. As seen in the mainstream fashion market, this expansion in online means that the store will play an even more important role in raising brand awareness and driving sales both in-store and online, hence the shift towards larger stores in better locations in the major global destination cities. This shift will also be supported by the maturing shopping habits of Chinese tourists. Tour groups remain the favoured choice for Chinese tourists, especially in Europe, with shopping being a key activity for these visitors. Yet, the fastest growing segment are independent travellers who place less emphasis on shopping, favouring cultural activities instead. In response we may see average shopping spend per trip decline, although this will no doubt be offset by the increase in total visitors with forecasts pointing to a 200 per cent increase in Chinese arrivals to Europe by 2025. Evolving consumer trends are also having a bearing on the nature of luxury itself and with it the types of stores and locations they favour.

Evening

Morning

EUROPEAN FOCUS

City Centre

Savills has recently announced its intent to acquire Aguirre Newman, the leading company in real estate consultancy in Spain, with more than 400 employees and a strong positioning in high street retail. The plan is to strengthen our retail services in Spain providing our clients with the best solution to their expansion requirements.

La Puerta del Sol

Having gathered some energy, head west down Calle de Alcala where your next stop will be Puerta del Sol, a public square in the heart of the City which is one of the best known and busiest locations in Madrid. It has recently undergone a transformation in recent years and now many of the top flagship stores in Madrid are located here. Flagship stores here are also mixed with some of Madrid’s more ‘typical’ shops. On Calle Cartes, Hawkers have just opened their first store. The brand are an online sunglasses retailer who have just taken their first ever physical store. The brand engages with consumers on a social level, and in-store you can try before you buy with the opportunity to take a selfie before, to make sure you are happy with your purchase. On Calle del Carmen, Hema have just opened and on Preciados, Pull & Bear will shortly open its new flagship store. Going up Calle de la Montera and crossing Gran Vía, you’ll see a busy mix of theatres and flagship stores such as Primark and Adidas, if you continue you will reach Fuencarral which plays host to a number of multi-national brands including Victoria’s Secret which is the lingerie retailer’s first high street store in Spain. This street has a unique shopping history but has changed from having unique and alternative shops to becoming a huge centre for multi-national brands.

Shop till you drop in Madrid: The Spanish capital now offers some of the best retail therapy in Europe. Here’s where to find it.

madrid

The strong performance of the Spanish economy is attracting new brands such as Pinko, Kenzo, Diane Von Furstenberg and D´S Damat.

RIGHT: Puerta del Sol BELOW: Victoria’s Secret store on Calle Fuencarral

Mercado San Anton

Barrio de Salamanca, Salamanca District

Afternoon

A day in...

Please contact Laura Salisbury Jones, Carlotta Matteja or Cristina Casanova for more information.

Recover from being on your feet all day by heading to the Mercado San Anton, a market spread across three floors where you can sit back and enjoy a cocktail on the terrace of the upper floor whilst taking in the sunset over the rooftops of this historical part of Madrid. For dinner, be sure to make an advance booking at Amazónico, El Paraguas or Quintín located on Calle Jorge Juan, all three of these hotspots are from renowned Spanish restaurateurs Sandro Silva and Marta Seco each one with their own unique experience. After finishing up head to La Maquina for a night cap, an atmospheric intimate bar where you can quite happily stay into the small hours of the night. Savills acted for El Horno and Hawkers and Aguirre Newman acted for Ikea Temporary.

Shopping in Barrio de Salamanca is the perfect activity for a lazy Saturday morning. Local people and visitors mingle throughout the streets of Serrano, Velázquez, Goya and the adjacent streets, enjoying the architecture, atmosphere and hopefully the beautiful weather! Begin your morning joining in with the crowds, walking the streets and soaking up the atmosphere of this glamorous neighbourhood. Stop off and indulge in an Ensaimada, a traditional Spanish pastry at El Horno, an exceptional bakery which has just opened a new site on Calle Velázquez. Following breakfast wander down to Serrano for some serious retail therapy. Works carried out in recent years have extended the shopping area and created larger pavements, which have improved the relaxed shopper experience from Calle Ortega y Gasset to Puerta de Alcalá. Serrano offers a mix of luxury brands such as Louis Vuitton, Prada, Loewe, Gucci, which are all just a stones throw away from El Corte Inglés Shopping Centre, which houses flagship stores such as Zara, Massimo Dutti and Mango. As a result of these improvements the area continues to see an influx of operators which were previously exclusively located outside of the city centre. A short walk from El Corte Inglés, Ikea Temporary, the new concept store from the retailer has opened, representing the first of its kind on the Spanish high street. You must not miss a walk through the surrounding streets, smaller shops can be found around Mercado de la Paz, the likes of TCN, Zadig & Voltaire, COS, Maje and Tara Jarmon. The strong performance of the Spanish economy is attracting new brands such as Pinko, Kenzo (which previously closed and has since reopened), Diane Von Furstenberg and D´S Damat. Head south to the bottom of Serrano, take the opportunity to have a drink and some lunch in one of the exclusive terraces such as Ramsés whilst overlooking El Parque del Buen Retiro, one of the most beautiful parks in Madrid. Ramses is an exclusive restaurant designed by famous interior designer Philippe Starck. Taking a break at 1pm with a good lunch to recover your energy for the afternoon is a good idea, and taking a stroll around the park is a great idea to work off your lunch. The Alfonso XII monument in the park is a popular tourist attraction and a symbol of Madrid, it’s well worth the visit.

LEFT: El Horno Bakery ABOVE: Pinko Store

Please contact Thomas Pasiecznik for more information.

Estée Lauder openings in Berlin

SAVILLS DEALS

Three Estée Lauder brands including Jo Malone, MAC and Aveda have opened their doors in the Mitte district of Berlin. This is the first time all three brands have been combined under one roof in Germany. They have taken retail space over two levels, creating a new beauty centre. This is Jo Malone’s first store in Germany, Aveda’s second, and MAC have upsized from another store they occupied previously in Berlin.

Flagship Transaction on Paris’ Champs-Élysées

Please contact Oliver Fraser-Looen for more information.

Please contact Faustine Godbert for more information.

Footlocker Bowls into the Champs-Élysées

After competitor and rival Citadium opened its doors on the Champs-Élysées, Footlocker has signed for its fifth Paris store, setting up shop on the most famous of all the Parisian avenues. The new store, which totals 16,000 sq ft, follows Footlocker’s newest opening in New York, a 10,000 sq ft flagship at 112 W 34th Street. It is likely the new store will take the same format, where products are showcased not by category but by brand. Creating a mini department store of individual shop-in-shops.

Anything food related, recipe books, food magazines, kitchen gadgets.

Biggest extravagance?

Cook my dinner and light a candle.

Buckingham Palace, I would turn it into my home.

Building you’d like to be locked in overnight?

MI5 building to have a nose through all those secret files.

MY CITY

Last play you saw?

Erin Peyman

Best piece of advice you’ve ever been given?

You don’t ask, you don’t get!

First thing you do when you arrive back home?

Does Crystal Palace count as London? Being taken to Crystal Palace Park every summer.

What do you collect?

Being in Cyprus, turning up to a restaurant and the owner said you would like to eat? There was no menu, the Greek food just kept coming dish after dish and it cost about 15 euros a head.

Go and visit schools and try to inspire children into getting a career and seeing the world!

Having six holidays a year, I love my holidays!the kids hear me come in and demand attention and cuddles.

Ever had a run in with a policeman?

The Girls, a production around a women’s institute group, good light hearted fun!

Every single Itsu of course!

Oxted, nice village feel with independent restaurants and pubs within walking distance and good proximity to London.

Most memorable meal?

ERIN IS HEAD OF ACQUISITIONS AT ITSU. SHE LIVES IN OXTEDAND WOULD LIKE TO GET LOCKED IN MI5 OVERNIGHT

What would you do as Mayor for the day?

What is your all-time favourite London shop?

Earliest London memory?

Home is...

See right – aged 23!

If you could buy any building in London what would it be?

My city

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Up-market, healthy fast food concept debuts from Paris in Mayfair

Please contact Laura Salisbury Jones for more information.

SAVILLS recent DEALS

Pret Acquisitons

Please contact Lance Marton for further information.

Brand nu fashion brand from Turkey for Marylebone

Savills Recent Deals

Please contact Tiffany Luckett for further information.