Boohoo to open events space in London's West End
Following Thursday’s news that The Hut Group has acquired a retail unit in Manchester to open a multi-brand showroom, another pure-play online retailer has committed to launching a physical space.
Manchester-based Boohoo has taken a 3,500 sq ft space at 6-10 Great Portland Street in Central London where it plans to open a creative hub, including a showroom and events space for its fashion labels Boohoo, BoohooMan, PrettyLittleThing, Nasty Gal and MissPap.
Located a stone’s throw away from Oxford Circus, the unit was formerly occupied by electronics retailer Maplin, which collapsed into administration last year.
Despite its prominent location, Boohoo said the space will not be broadly open to the public, according to EG News. And it won’t be just for play - although it will have a bar - as it will also provide workspaces.
The fact that two big e-tailers are moving into physical retail spaces indicates that the sector could be shifting towards a hybrid model where the majority of inventory is displayed via online stores while a small number of physical spaces are used to create a buzz around the brand and offer immersive experiences.
Boohoo is growing fast, and this week it overtook online rival Asos in terms of overall stock market value. The retailer also announced a 39% increase in total revenues to £254.3 million in the three months up to May 31, demonstrating the strength of its affordable fashion destinations.
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