Russell & Bromley to open first non-UK store with Dublin debut
Russell & Bromley is to open its first store outside of its domestic UK market with a deal signed for key Dublin shopping thoroughfare Grafton street.
A report in the Times said that commercial property agents in Ireland had been trying to get the high-end footwear and accessories chain to open there for almost 20 years.
But the time is clearly right now with attractive rents on offer and many labels looking at post-pandemic expansion.
The new store will stock the retailer’s full line-up.
CEO Andrew Bromley said Grafton Street was chosen because of the area’s “high-quality reputation [and] unique appeal that not only attracts customers from across the region but also from overseas”.
And based on the response to the first store, a second Dublin location could be on the cards too.
It’s unclear how much the property will cost the firm but as mentioned, we could assume that there are some attractive rent deals available given that the street currently has a vacancy rate of around 17%.
Yet despite that vacancy rate, property specialists CBRE and Bannon Retail told the newspaper that recent weeks have seen higher-end retailers showing an interest in the market.
Both Grafton Street and Dundrum Town Centre appear to be in demand at the moment, with a focus on premium labels or “mid-range” luxury brands rather than the giants of European ultra-luxury. It’s also reported that Dr Martens, Anthropologie and Canada Goose are looking for locations in the area and Skechers is reportedly close to signing a deal.
Copyright © 2022 FashionNetwork.com All rights reserved.