Inglot signs deal to open on Oxford Street and sets new rent record
Polish cosmetics retailer Inglot has signed a 10-year lease for a 600 sq ft unit at 409 Oxford Street. At £1,113 Zone A, the deal has set a new record rent for Oxford Street.
The Central London store will be the third UK store for the brand, following openings at Westfield London and Westfield Stratford City shopping centres. Inglot is one of the world’s leading manufacturers in colour cosmetics, with a presence at all major beauty happenings and events around the globe.
The brand, known for its custom designed palettes and wide range of colours across products, has stores in nearly 80 countries.
The deal continues the trend of international retailers establishing a presence in the West End, with 10 new retailers opening their first store in London so far this year, including APM Monaco, Ron Dorff and GH Bass.
A further line-up of 13 retailers are expected to launch their first store in the capital by the end of 2016, including Philip Plein, Ellie Saab and Maiyet.
Anthony Selwyn, head of Central London retail at Savills, says: “Oxford Street continues to act as a strong magnet for new brands coming to London. Given Crossrail's influence and discussions about the potential pedestrianisation of Oxford Street, we expect to see a surge of new entrants focusing on the street over the next 12 to 24 months.”
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