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Overseas retailers choose London as gateway to Europe
03
Jan '13
More and more international apparel retailers are choosing London, the global fashion capital, as their favourite location to test European expansion, according to a report from property agent Jones Lang LaSalle, Telegraph reported.
 
Last year, China’s publicly-traded apparel company Bosideng International Holdings Limited opened its maiden outlet at Mayfair, London, ahead of its European expansion.
 
Despite UK’s ongoing economical crisis, many American retailers like Victoria’s Secret and Rag and Bone are planning to foray in London, which has beaten favourite destinations like Paris and Moscow by accommodating more than 250 international retailers in the recent years, Guy Grainger, head of retail at Jones Lang LaSalle, told Telegraph.
 
In addition to the successful recent past record of retailers who have opened their stores in London, the humongous size, maturity, retail market transparency and the huge number of tourist shoppers have all been touted as the major reasons which have contributed in making the city a safest bet for international retailers to expand, Telegraph quoted Grainger as saying.
 
However, the story is not so hunky dory for everyone as some of the high-profile high street fashion labels like Comet, Clinton Cards, Game and JJB Sports fell into administration in the year 2012, according to accountancy firm Deloitte, which was appointed as the administrator to Comet.
 

Fibre2fashion News Desk - India

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