MINISO to open largest UK store on Oxford Street
MINISO is set to open its largest store in the UK on London’s Oxford Street, as the Chinese lifestyle retailer continues to expand.
Signing a five-year lease for a 3,200 sq ft unit, MINISO’s store at 100 Oxford Street will become its 23rd nationwide.
The property is located at Oxford Street’s eastern end, which is set to benefit from further growth in parallel with the new line interchange at Tottenham Court Road Station.
MINISO follows Claire’s, Ann Summers, and Intimissimi, which have all signed new agreements in the area over the last nine months. The deal also comes after the recent letting at 184-188 Oxford Street to Dr. Martens.
The letting was completed by joint agents Savills and Kenningham Retail, on behalf of landlord Lazari Investments.
Callum White, central London retail and leisure agent at Savills, said: “Oxford Street is undergoing huge transformation, strengthening its position as a world-class shopping destination. This, combined with improved transportation links, has seen renewed interest among global retailers and we’ve seen a surge in activity as a result.”
Sam Foyle, co-head of prime global retail at Savills, added: “This influx of new global brands on Oxford Street continues at pace. In recent months we have seen Dr Martens, Rituals, Pandora, Foot Asylum, Reserved, Under Armour, PSG, Samsonite, HMV and Kurt Geiger take space, the majority replacing candy shops and breathing new life into Oxford Street. We expect to be announcing further brands in the coming weeks as the revival of Oxford Street continues at pace.”
MINISO recently debuted its small-format store concept in London Chinatown, opening a 440 sq ft ‘Mini MINISO’ on Shaftesbury Avenue.