National Geographic’s plans to open its first European store have been hit by further delays because of spiralling costs.

The shop was originally scheduled to open on London’s Regent Street last autumn, but the launch was put back to April last October (Retail Week, October 19). Now, the shop will not be completed until at least October this year.

Since National Geographic embarked on the project, the expense of designing the store and fit-outs has risen far above what it budgeted originally.

It leased the store, a 20,000 sq ft (1,860 sq m) three-level unit at the Piccadilly Circus end of Regent Street, from landlord The Crown Estate last year.

The project is a joint venture between media company National Geographic, which publishes the eponymous magazine, and World Wide Network, a Spanish consortium that is providing the funding.

At present, National Geographic sells its products online and from a store at its world HQ in Washington DC. It plans to open approximately 10 stores globally and is considering sites in various European cities and the Far East, including Singapore.

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