London’s Oxford Street is welcoming a new retailer to the block, as fashion brand Reserved has signed up for its second London store.
GPE, formerly Great Portland Estates and one of the biggest property leasers in the capital, has signed a letting with Reserved for a more than 19,600 square foot space, which is expected to be unveiled in 2023.
Reserved made its London debut in 2017, when it opened a store on Oxford Street West.
Now on the main parade, the fashion retailer will join Boom: Battle Bar, an activities-based bar which is due to open its 15,600 square foot space in the coming months.
“Together both brands will help create a day-to-night destination on the doorstep of the Elizabeth line station at Tottenham Court Road,” senior portfolio manager at GPE, Sarah Goldman said.
It comes as London’s shopping district recovers from the pandemic and braces for the cost of living crisis, which has Brits stowing away cash instead of splurging on shopping trips.
While international travellers have returned following successive lockdowns, Oxford Street is in need of a revamp.
The street has become packed with tourist outlets and American candy shops in recent years.
Last month, Westminster Council announced it would focus spending in the area on London’s main shopping drag.
“The Council’s capital funding… will now be directed to prioritise and deliver public realm improvements on Oxford Street itself,” it said.