Moncler in London store expansion?
Moncler is to expand in London’s West End after securing a site in Albermarle Street occupied by Italian retailer Gismondi 1754, according to reports.
It is unclear whether the location, which is adjacent to its existing Old Bond Street flagship, will operate as a separate boutique or will see the original 330 sq m store extended. Fashion Network contacted the brand but a spokesperson was unabel to confirm or deny the report.
The Bond Street store opened last spring and offers the complete branded offer, including the highest-end Gamme Rouge collection and the company’s kidswear.
Property Week reported that the company has taken a lease on 14 Albermarle Street, which is about one-third the size of the brand’s nearby flagship, at a premium rent of around £155,000 per year.
The 65-year-old brand has around 170 stores globally and has been expanding fast, recently adding new locations in New York City, San Francisco and Washington DC, as well as the London site. It has also seen surging sales with a double-digit rise during 2016.
Moncler has a heavy commitment to the UK although all of its five stores are currently in London with a Sloane Street standalone as well as boutiques inside luxe department stores Harrods, Harvey Nichols and Selfridges.
London has boomed as location for global luxury shoppers in recent years and after the Brexit vote last June, the boom accelerated. Only this week figures from Global Blue showed how customers from China, the US, Russia and several key Middle Eastern states are spending more than ever on luxury goods in the city.
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