Retail Recap: The important moves in March 2022
March has continued last month's positive trend of seeing new store openings far outnumber closures – a total of 19 to 4.
Whilst the past month has been overshadowed by tumultuous geo-political tensions that have seen a number of major brands exit the Russian market, physical retail in the UK continues to recover.
As the weather gets warmer, footfall is also seeing an uptick, with the high street last week recording a boost of 4.2% compared to the previous week due to sunny spring weather. All retail destination also saw a more modest rise of 2.3%, according to the latest data from retail experts Springboard.
Here is a list of the all the stores that have opened and shut this month, as well as a look at commercial real-estate deals and new franchise agreements.
Formalwear brand Moss Bros launched a new 2742 sq ft concept store at the refurbished Victoria Place in Woking's town centre. It features the retailer's selection of formalwear including suits, knitwear, and accessories as well as its casual range.
Jaeger is set to open concessions in 14 M&S stores across the UK and Ireland throughout April and May. The concessions will open within M&S stores in Bath, Braehead, Brooklands, Cheshunt, Dundrum, Hedge End, Kensington, Kingston, Leamington Spa, Lisburn, Manchester, Oxford, Pantheon and York.
LA-based luxury denim and fashion brand FRAME has opened its first standalone store in the UK, in Draycott Avenue, Brompton Cross (pictured above), as it celebrates its tenth anniversary this year. The store is the brand's 15th globally and will act as its European flagship.
Marks and Spencer has officially opened its latest flagship in Victoria Place, Woking. The British retailer's Victoria Place store occupies 50,000 sq ft over two floors, and offers the brand’s trademark range of clothing, homeware and gifts, food, a bespoke bakery and café.
Work has commenced on the new standalone Gilly Hicks store at 39 Carnaby Street, set to open in Summer 2022. The 3,000-square-foot store was formerly occupied by Columbia Sportswear.
H&M is set to open its first new UK outlet store in Staffordshire, West Midlands next month. The Swedish fashion retailer will open a 7,000 sq ft store at Affinity Staffordshire, offering customers a fresh way to experience the brand.
High street retailer Zara will open a new 48,800 sq ft store on Battersea Power Station’s Electric Boulevard development later this year, becoming one of the first businesses to open on “London’s newest high street”.
US lifestyle brand Free People is to open a new store at 25-27 Redchurch Street in Shoreditch, next door to the newly opened Reformation store. It is expected to open towards the end of April.
International fashion brand Stradivarius is to mark its Liverpool debut with the opening of a new flagship store in October 2022. Located at Liverpool ONE, the 8,000 sq ft flagship store will be located on South John Street, adjacent to Zara, Pull & Bear and Bershka's new flagship.
Gap marked its return to the British high street with the opening of the first Gap concession at Next's flagship store in London. Located at 120 Oxford Street, the 4,000 sq ft Gap concession offers a curated collections of everyday essentials including denim, fleece, khakis, shirts and Gap logo products.
British lifestyle brand Crew Clothing has revealed plans to open 8 to 12 new stores across the UK and Ireland this year. CEO David Butler said the brand will focus on acquiring stores in market towns and coastal locations, with three stores expected to open by mid-April.
Burberry has introduced its new global design concept at its recently opened Paris flagship store, the first freestanding store in the region to feature the new concept.
Primark has announced it will open a 30,800 sq ft store in Rushmere Shopping Centre in Craigavon, Northern Ireland. The retail unit will be refurbished over the summer and open to customers later this year.
Vintage clothing and accessories retailer Beyond Retro opened its latest store at Westfield London in White City on 25 March 2022.
Fashion resale and rental platform Rites opened its first pop-up store, Rites Relove, on 9 March. It will run until 5 April 2022.
LK Bennett opened the doors of its New Bond Street flagship store in London on 3 March, replacing its Brook Street location.
Luxury watch and jewellery retailer Goldsmiths has announced that it will expand its presence in retail destination Victoria Square in Belfast, following its continued success at the location. The new store will open in June 2022.
Next has signed a 10-year lease for a new store in Manchester's Trafford Centre, expected to open in November 2022. The new store will significantly upsize the brand’s presence in the centre, bringing its fashion, beauty and home offering together in a single 65,000 sq ft store.
Frasers Group has continued to invest in new retail locations throughout the UK and has opened the doors to its latest Flannels store in Preston.
The American Eagle and Aerie’s store openings, which were originally due to happen on Foubert’s Place have now fallen through. AEO EU, the company holding the master licence to trade the two US brands in the UK, has gone into liquidation.
Desigual has permanently shut its flagship store at 218 Regent Street, with commercial real estate business Cushman and Wakefield now advertising on the store front.
Amazon closes all its 4-star stores across the UK and US
Amazon has announced that it will be closing its UK 4-star stores just four months after opening, alongside all of its book stores and pop-up shops across the US and UK - a total of 68 locations.
Private White VC has announced the closure of its flagship store in Mayfair, with reports indicating that the landlord wants to take the street in a new direction. The company opened the 2,000 sq ft flagship store in 2014.
Commercial Real Estate sales
Manchester's Mill Gate Shopping Centre is to be sold to Bury Council for an undisclosed sum to ensure its "long-term future" of the destination.
Landsec and British Land, two of the UK's biggest commercial landlords, have reportedly held talks over a major asset swap. The potential £800 million deal would see Landsec acquire 50% of British Land's share in the Meadowhall shopping centre in Sheffield, with British Land in return acquiring Landsec's ten retail parks.
Ted Baker has signed a new UK agreement with franchise company Aldrich Group, which will see it open a minimum of 30 stores over the next 10 years - at the rate of three per year - creating “unique in-store experiences”.
Authentic Brands Group (ABG), has announced an expanded partnership with Canadian multichannel retailer SportChek, advancing Reebok’s presence in Canada across 300 stores.
Pandora is expanding its owned retail footprint in the US and Canada, opening a total of 37 new franchise locations.