Savills reports a record 58 international brands debuting in the capital
According to research from international real estate advisor Savills, 2019 marks a record year for the number international brands opening their first London site.
The firm notes that 58 international brands have opened a debut site in the UK capital so far this year, with the year-end total potentially reaching 65. The number exceeds the total for 2018, which sits at 55.
In particular, it has been food concepts from Europe that have been the most active this year. Food and beverage operators have been leading the way, accounting for 43 per cent of all new international entrants making their London debut.
New international fashion entrants have also accounted for a significant share of openings this year, continuing the strong momentum seen in 2018.
Marie Hickey, commercial research director at Savills, commented: “It’s certainly been a challenging year for the UK retail and casual dining sectors, so it’s great to see that international brands are still actively seeking opportunities in London, with global brands opening more debut sites than in any years previous. From a diverse range of F&B operators to a surge in streetwear fashion retailers, it’s clear to see that London holds appeal for a truly differentiated mix of international brands and concepts.”
Anthony Selwyn, head of London and international retail at Savills, added: “Clearly London remains a key market, irrespective of the economic uncertainty, and we look forward to welcoming a whole host of further brands in 2020.”
