Burberry plans new Knightsbridge flagship
There’s major development happening in Knightsbridge at present and we now know who the first tenant of property firm Chelsfield’s seven retail units at No 1 Sloane Street will be - Burberry.
The store is part of the first phase of The Knightsbridge Estate K1 development and will see Burberry relocating its local flagship from nearby Brompton Road where it currently trades from twin men’s and women’s shops. The new move to a site not far from Harvey Nichols will give it the chance to consolidate all men’s and women’s product into one flagship location on four floors and covering an area of over 15,000 sq ft.
The fashion brand and the property company have worked together before with Chelsfield having been responsible for the label’s Bond Street flagship back in 2005.
We don’t yet know an exact date for the opening of the new store but it will not open until the entire development is complete.
Despite a raft of openings in recent years, Burberry is carefully targeting its investment at present and only recently scrapped plans to revive the Temple Works mill in Leeds as well as delaying a decision about building a new factory on a neighbouring site. It is also reported to be looking at its London offices with a view to cutting costs.
But the brand is clearly still investing where it can see major returns. It has invested heavily refining its product offer, adding new star bags that appear to be making a major impact on its balance sheet. And it has licensed its beauty ops to specialist Coty, as well as opening a China-specific website.
The new Knightsbridge store is part of this very focused strategy with the area being a key beneficiary of the booming luxury tourist trade in London.
Copyright © 2023 FashionNetwork.com All rights reserved.