London's Iconic West End Presents Untapped Opportunities for Japanese Investors and Brands in the Retail Sector to Thrive and Grow
PR95597
TOKYO, April 27, 2022 /PRNewswire=KYODO JBN/ --
-Figures indicate that London is the most attractive city for international
retail trade companies to expand to
-US and European brands are leading expansion into London, with data
demonstrating significant untapped potential for the Asia region in London
-Turnover in the West End is expected to reach £11.4 billion in 2025,
indicating strong returns for Asian retailers looking to scale overseas
New investment data from London & Partners, the business growth and destination
agency for London, shows that London is the leading global city for
international retail businesses. Over the past five years, London has attracted
a total of 460 retail trade inward investment projects: significantly more than
any other destination city, ahead of Paris (256), New York (249) and Singapore
(188). London attracted more inward investments than any other global city
between 2020 and 20211.
Global businesses are reaping the returns of investment in the market, with the
majority coming from the US and European countries which take up the top 10
source countries for expansion into London. Japan is the only Asian market to
claim a spot among the top 10, ranking joint ninth with Denmark, demonstrating
that Japanese brands have recognised the opportunities that London presents as
an expansion city.
New data shows London has seen more retail trade inward investment over the
past five years than Hong Kong, Tokyo and Seoul combined. London can offer
substantial growth potential for Asian brands outside of the Asian market,
especially those offering consumer concepts in food & beverage, retail,
leisure, arts and entertainment, which contribute to the diverse consumer
offerings in London.
London’s West End is a major draw for overseas consumer businesses, with the
district attracting 200 million visitors a year and an annual spend of Pound
Sterling 10 billion pre-pandemic. The area is home to over 250 flagship stores,
with presence of well-known Asian brands including Uniqlo, Marugame Udon, and
Samsung. There is now a unique window of opportunity for exciting
consumer-facing businesses to be part of the West End’s future story, as highly
coveted retail space has become uniquely available post-pandemic, in well-known
districts including Oxford Street, Regent Street, Soho, and Piccadilly.
Home to the Embassy of Japan in the UK, the West End has strong cultural ties
with Japan, from acclaimed fashion brands to unique dessert eateries. In 1991,
MUJI chose London as its first international home; their flagship store now
sits on Tottenham Court Road, with three additional West End locations.
Japanese fashion brands are favouring the UK district for expansion, with
Onitsuka Tiger opening its largest global store in the West End in 2021. Fast
Retailing Co. has selected a prime corner location for Uniqlo and Theory brands
to open this spring on Regent Street.
Satoshi Suga, Head of Marugame Udon Global Growth, TORIDOLL Holdings Corp,
says: "The decision to bring the Marugame Udon brand to London has been
excellent for us. Working with the UK and Europe team, the first two UK
locations opened in 2021 - the first in mainland Europe serving as the starting
point for the rollout across the continent. Since the London launch, we have
rapidly expanded our presence across the city. It is clear that UK consumers
have appetite for eating out and trying new international concepts. We're proud
to bring udon to the people of London."
Laura Citron, CEO at London & Partners, adds: "This new data offers further
proof that London is a world class consumer destination, offering a multitude
of opportunities for international investors looking to expand outside of their
home market. The easing of restrictions has led to growing demand from
consumers to get out and explore the city, so there's never been a better time
for Japanese brands to snap up highly sought-after retail spaces and increase
their customer base."
The future looks bright for London's West End with growth expected to rocket to
an annual turnover of Pound Sterling 11.4 billion by 2025, superseding
pre-pandemic levels by 14 percent. Short term forecasts predict turnover in the
district will reach Pound Sterling 8.6 billion this year and will recover to
its historic annual figure of Pound Sterling 10 billion within the next two
years. The West End is one of London's most visited areas, and footfall in the
district is already at 84% of pre-pandemic levels. Development in the area will
be given a further boost, with a Pound Sterling 5 billion capital investment
planned over the next five years.
For Asian consumer brands considering expansion to London, a free of charge and
confidential service is available from London & Partners, who can support in
all areas of expansion and connect brands to West End property owners to help
find retail space.
About London & Partners
London & Partners is the business growth and destination agency for London. Our
mission is to create economic growth that is resilient, sustainable and
inclusive. For more information, visit: www.londonandpartners.com
Data references
1. London & Partners analysis of data from fDi Markets data from the Financial
Times Ltd, March 2022. Based on greenfield Foreign Direct Investment (FDI)
projects in the Retail Trade cluster (includes sectors including: textiles,
F&B, consumer products and leisure & entertainment), between Jan 2016 to Dec
2021.
本プレスリリースは発表元が入力した原稿をそのまま掲載しております。また、プレスリリースへのお問い合わせは発表元に直接お願いいたします。
このプレスリリースには、報道機関向けの情報があります。
プレス会員登録を行うと、広報担当者の連絡先や、イベント・記者会見の情報など、報道機関だけに公開する情報が閲覧できるようになります。