‘Tis the season: Festive spending to boost London’s West End October 21, 2024 Festive spending in London's West End is expected to reach £1.7bn, with international tourists set to push sales up by 3.2 per cent in the run up to Christmas.
Wedgwood owner slumps to loss despite strong Harrods and Selfridges sales October 7, 2024 The owner of historic fine china and porcelain brand Wedgwood has slumped into the red despite strong sales through Harrods and Selfridges. Fiskars UK, which is based in Stoke-on-Trent, is also behind the Waterford, Royal Doulton and Royal Albert brands. Newly-filed accounts with Companies House have revealed that the business fell to a pre-tax loss [...]
Luxury retail might be struggling globally, but it’s thriving in London October 4, 2024 It’s somewhat surprisingly that luxury retail in London is doing so well, particularly given eye-catching figures about a wider downturn in the luxury market, the effect of the tourist tax, and the potential exodus of high-net-worth non doms from the capital. But while these “handicaps” – particularly the tourist tax – have hampered demand somewhat, [...]
Gaggenau: Luxury home appliance firm seals 10-year West End move October 1, 2024 Luxury home appliance firm Gaggenau has signed a 10-year lease for a new global flagship store
Bulgari: ‘Stagnant UK economy and the lack of tourists’ force luxury brand into the red September 25, 2024 An uptick in the sale of high-end jewellery and watches failed to stop the UK arm of Bulgari falling into the red during its latest financial year. The London-headquartered division, which is part of the LVMH Group, said that while its overall turnover declined in 2023, it still expects the sale of jewellery and watches [...]
A car-free Oxford Street does sound dreamy, but there’s a problem: buses September 19, 2024 An Oxford Street with no cars is a charming fantasy. But ignore the "red wall of metal" at your peril, writes James Ford
The tourist tax is so last week. Scrap it to boost the UK fashion industry September 18, 2024 Visitor numbers to London are rising, yet the tourist tax continues to quash the benefits, writes New West End chief executive Dee Corsi.
West End: Tourist tax ‘disadvantage’ costs retailers hundreds of millions September 16, 2024 Retail business in London missed out on a projected £220m in the first half of 2024 due to the ongoing effect of the so-called tourist tax, despite continued growth in international visitor numbers. The number of international visitors to London was three per cent above pre-pandemic levels, but spending in the West End fell nearly [...]
Kurt Geiger boss joins list of retailers slamming the end of tax-free shopping September 2, 2024 Kurt Geiger’s boss has said the UK is shooting itself in the foot by not bringing back tax-free shopping for international visitors. Kurt Geiger’s chief executive, Neil Clifford, told The Times that the end of VAT-free shopping has had a “massively negative effect” on Britain”. “International tourists, whether it be Middle Eastern or American travellers, [...]
Burberry’s fall out of the FTSE 100 is about much more than a challenging market August 30, 2024 Burberry is set to drop out of the FTSE 100 in its quarterly reshuffle, which will be based on market caps as of 2 September. It’s an unfortunate if not surprising turn of events for the UK’s only luxury fashion brand, which has seen its share price drop nearly 75 per cent in the last [...]