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It is the exclusivity of the buying experience that defines luxury
retailing. Way beyond the need for the object being bought, luxury is
an unashamed indulgence. That’s why, despite the enormous growth
of internet-based purchasing, London as a luxury retail centre remains
the destination of choice for high net worth tourists the world over.
L
ondon-based retailers are masters at delivering
the standards that individuals who live a wealthy
lifestyle expect. They offer a very British combination
of outstanding product quality wrapped with quietly
effective, but wholly unassuming, service. The outlets
themselves sit in bustling cosmopolitan settings, yet still
manage to retain a presence of timeless refinement.
Of all London’s traditional luxury retail destinations,
Bond Street reigns supreme as one of the most sought
after and expensive locations of its type in Europe. Ever
since it was first developed in the 1720s, the social elite
have claimed Bond Street for themselves as the place to
meet, greet and shop.
More recently, reflecting the inexorable growth in
demand for retail space, the cachet of Bond Street has
spread to neighbouring Bruton, Mount and Albemarle
Streets and other mixed-use thoroughfares that meander
pleasantly around Mayfair’s Berkeley Square.
Similarly, Sloane Street and the attractions of Harrods,
Harvey Nichols and the designer boutiques of the
Brompton Road have helped maintain Belgravia’s place
among London’s traditional luxury retail destinations.
However, the growth of global consumer brands and
the need for a different type and bigger size of outlet
to accommodate them has moved some luxury retailing
closer to the mainstream high-footfall shopping venues.
Nowadays we see luxury clothing, jewellery and top-end
digital and technology brands in prestigious flagship stores
along Regent Street, in the City by the Royal Exchange and
in discrete clusters in places as far afield as Canary Wharf
By Pete Mace,
Head of Central
London Retail
TOURISM
Tourism&Luxury Retail
CUSHMAN & WAKEFIELD
15
TOURISM