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Shaftesbury reveals strong year with 60 new brands

// Shaftesbury has added over 60 new retail and leisure brands since October 2020.
// Over a third of the new signings were making their debut in the UK market

London’s West End property manager Shaftesbury has reported a strong year for the group, revealing that it has added over 60 new retail, hospitality and leisure brands to its portfolio since October 2020.

With retail and leisure locations in Carnaby, Seven Dials, Chinatown, Soho and Fitzrovia, the group has welcomed 33 new retailers in that time, with 23 of those making their debut in the UK market.

Of the new signings, six were from the US, with LIDS, NBA, American Eagle and Aerie, Third Man Records and Gilly Hicks all opening their first stores in the UK.

A further nine were online brands making the move into bricks-and-mortar for the first time, including Bloobloom, the French eyewear brand.

READ MORE: Shaftesbury swings to £699m full-year loss as Covid-19 hits valuations

Shaftesbury also revealed that the demand coincided with the rapid recovery in footfall and sales across its locations, stating that weekend footfall is currently at or above 2019 levels, while weekdays are at approximately 80 per cent.

The figures also suggest that Shaftesbury’s locations are outperforming the wider West End, where footfall sits at 72 percent of pre-covid levels.

“The level and quality of demand for space from such great brands and concepts reflects the strength of our portfolio and speed of its recovery following the lifting of pandemic restrictions,” said retail director Samantha Bain-Mollison.

“The 33 new retailers to have signed this year have added something different to our villages, reinforcing their positions as exciting West End shopping destinations and contributing to London’s status as a global city for retail.”

Shaftesbury’s 2021 annual results were published on 30 November, and reported significant progress for the recovery of its 16-acre West End portfolio.

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The post Shaftesbury reveals strong year with 60 new brands appeared first on Retail Gazette.


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