Nokia’s failure to make its Regent Street store work shows that a great location is no guarantee of retail success.

The Crown Estate’s regeneration of Regent Street has been so spectacularly successful that it’s unusual for a retailer to come unstuck there. But that’s what’s happened with Nokia’s decision to close its flagship store in the former Dickins & Jones building.

The store was a bold statement and looked stunning. No doubt emboldened by Apple’s success across the road, Nokia thought it too could create a brand showcase that would deliver high footfall and help transform its status from manufacturer into iconic brand.

It hasn’t worked out that way. Nokia is not alone in discovering that UK consumers aren’t really interested in buying a phone from its manufacturer - they’re more used through an independent retailers like Carphone Warehouse or Phones 4U. Sony Ericsson had the same problem with its Kensington flagship.

But Nokia’s failure shouldn’t be allowed to cloud the success of Regent Street project. There have been other retailers which haven’t made it - notably Talbots - and others will find it tough. Desigual’s sprawling basement store always seems empty, while the Ferrari store seems like a particularly odd concept.

Those that fail won’t be down to the location though, but to the concept. Regent Street has become the best showcase for international brands coming to the UK, but once a retailer has acquired the store it’s down to them what they do with it. No doubt the space vacated by Nokia will before long be playing host to another massive global retail name.