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Back in the 90’s whilst others would predict the demise of department stores I could clearly see the benefit and felt that they had a sound future. How many other retail formats allow and even encourage such flexibility. If a brand fails out it goes only to have the gap filled by another hopeful!
I’m not suggesting that department stores don’t feel the economic pinch but at least change is inherent in their business model.
I welcome any new retail concept and if Sir Terence and Vittorio have a fresh take on this old, tried and tested retail approach then bring it on. Let’s face it there is now plenty of retail space available and the high street could do with some fresh blood!