Selfridges is for sale with a formal auction process about to start. It hasn’t been announced by its owners, the Westons, but a news report said Credit Suisse will be canvassing prospective buyers “imminently”.
Department store Liberty has filed its results for the year to the end of January and said that it was "significantly impacted" by the three separate Covid lockdown in the UK that dented footfall to its London flagship.
Footfall in UK city centres may be starting to regain lost ground, but Central London is still lagging other parts of the UK. That said, London is starting to catch up after suffering a footfall plunge in the pandemic.
An ambitious plan to transform Oxford Circus into pedestrian-friendly piazzas has been announced with an international design competition kicking off to decide just how the key shopping area will look for decades ahead.
LVMH-owned luggage brand Rimowa has launched a collab with London-based accessories label Chaos. The company said the two labels are “united by their common appreciation for luxurious design and innovative solutions”.
The trading environment may have been volatile but luxury giant Richemont still managed to see net profit rising almost 40% in the financial year to the end of March, beating forecasts by a wide margin.
According to a report from NPD, luggage and swimwear sales have shown strong signs of recovery over the last two months, following a dismal year for travel fashion and accessories due to Covid-19-related restrictions.
Arthur Beale, one of the oldest stores in London, is to close permanently next month. The storied yacht chandler on Shaftesbury Avenue, adjacent to Covent Garden, is to shut its doors after 150 years in the location.