Market News – Burberry to open flagship ‘statement stores’ in London

Luxury brand Burberry is set to open a series of high profile ‘statement stores’ in the UK to celebrate  its British heritage, according to Retail Week.

Burberry has snapped up a raft of high-profile locations in Regent Street and Knightsbridge to create “world of Burberry” flagships showcasing its entire range.

Burberry has acquired the lease for the LK Bennett shop on Regent Street. The store is next to a shop previously occupied by Habitat, which Burberry acquired the lease of in January. It is expected to knock the two stores together to create a statement store.

It has also acquired the lease for the Jaeger store on Brompton Road in Knightsbridge, which is next to Burberry’s existing shop.

A source told Retail Week that Burberry may be seeking a third statement store site in the King’s Road/ Sloane Square area of London.

The initiative is thought to be part of a brand-building exercise to create a retail statement in its home market, as luxury retailers Ralph Lauren and Tommy Hilfiger have in Madison Avenue in New York or Louis Vuitton on the Champs Elysées in Paris.

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