Luxury retailer Louis Vuitton is to open a flagship Maison store on London’s New Bond Street, after securing the property next door to its Louis Vuitton store.

Louis Vuitton sits at 17/18 New Bond Street and will be adjoined to the next door unit at 19/20. The lease was acquired from Donna Karan and the luxury retailer will combine units to create a space of more than 20,000 sq ft (1,860 sq m).

Louis Vuitton Maison is described as a unique concept store that links shopping, luxury, leisure, art and culture. The first store using this format opened on the Champs-Elysées in Paris and there are three others worldwide, in Hong Kong, Taiwan and New York. The store is likely to combine shopping with a bar and art gallery. It is understood the fit-out will take about a year, at a cost of more than£10 million.

Louis Vuitton was advised by Harper Dennis Hobbs. Director David Harper said: “Louis Vuitton wanted to refit and Donna Karan wanted to relocate to Conduit Street, so it made sense for both parties.”

Cushman & Wakefield head of central London investment Clive Bull advised the landlord of both properties, Irish investor David Daly. He said: “This new concept looks likely to become one of the best stores in London and is a great indicator of the commitment to London for global retailers.”

LVMH Moët Hennessy Louis Vuitton recorded revenues of 11.4 billion (£7.95 billion) in the first nine months of this year, reflecting a growth of 13 per cent on the same period in 2006. Its fashion and leather goods business achieved 14 per cent organic revenue growth, while the watches and jewellery business registered revenue growth of 22 per cent. Perfumes and cosmetics was up 12 per cent and wines and spirits rose 14 per cent.

Topics