The race for space is on in Bond Street and it has led to luxury brands shelling out millions on multi-level megastores. The trend started when Louis Vuitton opened its large outlet store on the street in 2010. Chanel opened its own store on the other side of the street earlier this year.
Other brands are following suit, and planning to turn boutiques into flagship stores. Christian Dior, Jimmy Choo, and Boodles have all announced plans to expand.
David Harper, retail property advisor at Harper Dennis Hobbs, commented recently that all the big brands want stores that can sell their full collection of merchandise under one roof. They want to establish the best and biggest shops in the best location.
Louis Vuitton, which is owned by the French group LVMH, is considered the leader in the world trend toward having fewer shops, but larger floor space.
Boodles, is taking over an established location in Albemarle Street, at the back of its shop in New Bond Street, and will link the two spaces. Architect Eva Jiricna will design a glass-roofed courtyard to connect the two shops. Each one will retain its separate entrance. The expansion to the space is subject to planning and landlord approval.
Jimmy Choo has applied to increase the size of its store at 27 New Bond Street to six storeys. Zegna and Christian Dior have been granted permission to extend the size of their shops to upper levels.
Daniel Astaire, Westminster council’s cabinet member for business, said recently that this is an indication of how ambitious central London is. It is something that he welcomes, and he feels certain that it will help business flourish in the capital.
