London losing out due to ‘tourist tax’ as US and Gulf visitors opt for Paris and Milan instead August 14, 2023 London is losing out on wealthy foreign visitors splashing their cash in Oxford Street due to the so-called ‘tourist tax’, amid renewed calls to scrap it and make the capital more competitive. The removal of VAT free shopping for international tourists continues to hurt London retailers, with visitors from the US and the Gulf cutting [...]
City needs a whole ecosystem to attract the best and brightest May 9, 2023 Soft power success or waste of time and money? We’re more inclined to side with the Lord Mayor than some on Twitter when it comes to the weekend’s festivities. Clearly, the coronation was always going to kick off an almighty debate on the role of the Royal Family in the twenty-first century; but regardless of [...]
London: Shot in the arm for West End as Uniqlo UK boss says Covent Garden is the place to be April 27, 2023 Fashion chain Uniqlo said it was committed to London after opening its second store in six months. Alessandro Dudech, chief operating officer at Uniqlo UK said the company regarded it as honour to be opening a store in Covent Garden. He said it was an area of London with “cultural and retail heritage”. He added: [...]
Covent Garden owner Capco reports strong rental demand as West End gears up for its £3.5bn merger with Shaftesbury January 30, 2023 Trading conditions across the Covent Garden estate have been positive, in particular a successful Christmas trading period with like-for-like customer sales in aggregate exceeding pre-pandemic levels. Ian Hawksworth, chief executive of Covent Garden estate owner Capco, said: “There is continued momentum at Covent Garden with robust trading conditions, in particular a successful Christmas period,” said [...]
How the Chinese New Year and covid rule changes could give a tourism boost to London’s West End January 6, 2023 London’s West End is looking forward to the return of Chinese tourists this month, after the easing of the nation’s zero-Covid policy – ahead of the Chinese New Year. China has seen a surge in Covid infections in recent months, with EU countries introducing testing requirements for travellers. Travel from and to China will be [...]
Boxing Day footfall bounce for retail as West End chief calls for recovery help December 27, 2022 Retail destinations across the country reaped the rewards of a Christmas without Covid restrictions as Boxing Day sales enticed shoppers out of their houses. However, business leaders noted footfall was still below 2019 levels and called on the government to help accelerate retail’s recovery from the Covid-19 pandemic as it grapples with an economic downturn. [...]
Shaftesbury back in the black as West End landlord sees ‘rapid rebound’ in shopping destination November 29, 2022 West End landlord Shaftesbury has swung back to profit as the capital’s retail heartland bounced back from Covid-19 disruption this year. The landlord, which is set to merge with neighbouring property giant Capital and Counties next year, shared a £119.1m profit after tax in full-year results. This was a strong come-back for the Carnaby, Seven [...]
New Bond St second priciest shopping street in Europe as West End hopes for Christmas rebound November 23, 2022 New Bond St has been dubbed as the second most expensive shopping street in Europe, missing out the top spot to Milan’s Via Montenapoleone. The new rankings from real estate services firm Cushman & Wakefield show a robust landscape for retail real estate, despite a torrid few years due to Covid. New Bond St boasts [...]
Chancellor ‘misses a trick’ by not re-introducing tax-free shopping for overseas tourists November 17, 2022 West End business leaders have slammed the Chancellor for not changing his mind on an introduction of VAT free shopping for overseas tourists. Despite calls from luxury retailers this month, Jeremy Hunt made no mention of the prospect of introducing tax-free shopping for overseas visitors making trips to London’s shopping heartlands. Last month, Hunt announced [...]
West End Christmas intake to be squeezed by pandemic and cost of living at £1.55bn November 3, 2022 West End Christmas intake is set to be a quarter up from last year but still almost 30 per cent down on pre-Covid levels. Around £1.55bn is set to be splashed out in the heart of London’s shopping district, as the capital bounces back from the pandemic in a restriction-free Christmas. The cost of living [...]