There’s still life on the high street if today is anything to go by as Retail Week revealed two new players are setting up shop.
Outdoor brand of the moment Canada Goose – which floated on the New York Stock Exchange yesterday and saw its share price surge 26% on its first day of trading – is set to open its first UK store on Regent Street this autumn, taking the place of Armani Exchange.
Canada Goose may trade in 50 countries worldwide through concessions and online, however, this will only be its third standalone store, after its Toronto and New York openings last year.
The fact that Regent Street was next on its list shows how important a destination it is for international brands.
But it’s not just about Regent Street. High streets in Manchester and Romford were given a boost as card specialist Clintons opened new party-focused stores Party Delights. The fascia is Clintons’ attempt to diversify and give it a point of difference to fast-growing rival Card Factory.
Elsewhere, Edinburgh Woollen Mill owner Philip Day emerged as the frontrunner to acquire Jaeger and House of Fraser unveiled its new five-year plan, which includes a cull of brands that it stocks.
Quote of the day
“The beauty of that format is we get a massive lift on party sales and a massive halo in terms of driving customers into buying greeting cards, gifts and wrap at the same time.”
– Clintons vice president of ecommerce and marketing Tim Fairs on its new Party Delights format
Today in numbers
The number of womenswear brands House of Fraser could axe from stores as part of its new strategy
Value of newly listed Canada Goose
Look out for our exclusive interview with N Brown chief executive Angela Spindler.
Gemma Goldfingle, features editor