News
Mint Velvet makes city debut at Centre:mk
17th October 2024Mint Velvet has opened its first store in Milton Keynes at the Centre:mk shopping centre. The womenswear retailer has taken a 2,100 sq ft space within Silbury Arcade, offering its range of clothing, accessories, and footwear. Mint Velvet joins a number of other womenswear retailers at Centre:mk, including premium brands such as Reiss, Jigsaw, Phase Eight, and The White Company, as well as leading names in fashion, Mango and H&M. Kevin Duffy, centre director at Centre:mk, said: “With a large affluent catchment area, this new Mint Velvet’s Boutique is a welcome addition to our premium offer which further enables us to cater to our customers’ demand for premium womenswear. The opening of Mint Velvet’s city debut reflects the brand’s confidence in our centre and further reinforces centre:mk’s status as a leading UK shopping destination in the region and beyond.” The opening of Mint Velvet at Centre:mk follows the recent announcement that beauty retailer Space NK will join the scheme in November, also making its debut in Milton Keynes.
Deals
Reiss makes south west outlet debut at Gloucester Quays
17th October 2024Reiss has opened its first-ever outlet store in the south west of England at Gloucester Quays. The affordable-luxury fashion retailer has taken a 1,800 sq ft unit, located opposite The North Face and adjacent to Skechers. The store offers the brand’s collections of men’s, women’s, and children’s clothing, including formalwear, knitwear, and suits and tailoring. Reiss joins a number of other fashion brands at Gloucester Quays, including M&S, Hobbs, Phase Eight, and Next. Paul Carter, asset director at scheme owner Peel Retail & Leisure, said: “Gloucester Quays is a top 10 UK outlet, and that status means we have a responsibility to house a diverse blend of top-quality retail and leisure. Reiss’s entrance to the scheme is a case-in-point of this commitment; it delivers a strong identity and trademark premium ranges, and the brand clearly believes in how Gloucester Quays can deliver for them in the region with this debut site.” Reiss’ arrival follows the recent opening of Berghaus at Gloucester Quays, with the brand having opened its second standalone store in the UK.
Requirements
Padel Social Club appoints agents to support nationwide expansion
14th October 2024Padel Social Club has appointed leisure real estate advisory business Stärka as sole agents to support its nationwide expansion. The social padel concept – which launched its first site in Earl’s Court and recently opened at The O2 – is targeting indoor and outdoor spaces ranging between 10,000 sq ft and 40,000 sq ft. The operator takes a flexible approach with its locations and formats, which range from multi-court barns to pop-up or permanent turn-key court installations and activations. Stärka is seeking locations which suit Padel Social Club’s target demographic, and is also looking to secure regional firsts in some of the UK’s most iconic locations. The brand’s concept welcomes players of varied experience, with some venues coming with social and wellness areas, rooftop bars, meeting rooms and co-working spaces, as well as cafés and retail spaces selling specialist equipment and clothing. David Bell, co-founder of Stärka, said: “Our partnership with Padel Social Club has come as a direct result of our previous success in acquiring locations for a number of operators, both established and up-and-coming. Our expertise very much lies in the bespoke and collaborative approach we take with landlords, as well as our ability to truly understand the core nature […]
Insights
Bricks-and-mortar remains attractive to retailers, says CBRE
15th October 2024Bricks-and-mortar expansion remains an attractive prospect for retailers across Europe, with 72% of occupiers confirming they have plans for further expansion, according to CBRE’s 2024 European Retail Occupier Survey. The report – which gathered responses from over 60 retailers with a combined global footprint of more than 130,000 stores – found that 71% of retailers which are planning to expand their bricks-and-mortar intend to do so in areas where they already operate. The survey also found that larger stores are also in favour, with 72% of respondents looking to increase the size of their stores. This has shown a marked increase from CBRE’s findings in 2022, in which only 26% of retailers looked to upsize. This search for larger stores is one of a few trends CBRE has observed, particularly across athleisure and fashion in gateway and capital cities. The firm has also noted an uptick in the own-to-occupy trend, whereby luxury retailers are showing an increasing desire to own their stores as opposed to leasing. However, leasing remains the predominant strategy for the mass market, with 84% of retailers stating that they have no plans to expand their store ownership. Chris Gardener, CBRE’s head of European retail said: “Improved consumer […]
News
Legal & General appoints retail boss in management reshuffle
16th October 2024Legal & General has announced two appointments to its group management committee, including the naming of Laura Mason as chief executive officer of retail. Mason – who is currently CEO of private markets – will take up the position in December, succeeding Bernie Hickman who is leaving the company after a 26-year tenure. She will bring group-wide experience to the role, having been part of the founding team of L&G’s alternative assets business. Before joining L&G, Mason spent eight years at Towers Watson, working as a consultant to major life UK life insurers. Bernie Hickman – whom Mason will replace – has held several leadership positions at L&G including managing director of retail protection, group financial controller, investor relations director, managing director of individual retirement, CEO and co-founder of L&G Home Finance and CEO of L&G Insurance, becoming CEO of the retail division at the start of 2022. During his tenure at L&G he has led the growth and development of businesses in workplace savings,annuities, UK and US protection, equity release, and mortgage services. Also taking on a role within the group management committee is Katie Worgan, who will join the business in the first quarter of 2025, taking the newly-created […]