London becomes the centre of attention for new fashion shops

LONDON Fashion Week starts today with its usual ranks of well-heeled A-list celebrities seeking the best seats on runway front rows alongside magazine editors, influencers, and retail buyers.

- Joanna Hodgson

With 127 brands taking part there will be plenty of looks and themes for devoted followers of fashion to spot.

But there is one other business trend that has already emerged — the increasing number of clothing and accessories labels that are eyeing shop openings in the capital’s Zone 1.

New figures from property consultants Savills show 21 international fashion and footwear brands opened debut London stores last year. While that is down from a peak of 27 in 2019, it is ahead of the five-year pre-Covid annual average, and more than double what was seen in 2021 when the pandemic continued to hammer High Streets.

The enthusiasm is forecast to continue, with Savills expecting more premium international brands to make their London debut this year, with a focus on areas such as Mayfair and Marylebone. A director at another real estate agent, Colliers, in January said he is aware of at least 50 international and domestic companies wanting to open new or more shops in Zone 1 in 2023.

Savills retail research director Marie Hickey says: “In spite of the current headwinds, the fundamentals of London as a retail destination remain robust.”