London Luxury Quarter boasts strongest retail sales in Western Europe: report
London is home to more luxury retailers than any other European city, making the capital of the United Kingdom attractive for brands looking to cement a bricks-and-mortar presence in a strong market.
The ?London Luxury Quarter ? Global Destination Appeal? report, conceived by Heart of London Business Alliance and New West End Company and commissioned by JLL, appraises London?s prowess as a global destination with a flow of foreign visitors spending an estimate of $6.9 billion per year. While international markets are constantly evolving, London?s high streets have matured into a luxury destination offering affluent consumers a unique take on heritage, DNA and offerings.
?Despite a slowing growth in the global digital market, thanks to its broad mixed use makeup and destination appeal, London Luxury Quarter remains the epitome of resilience,? said Guy Grainger, UK CEO of JLL, London. ?Consumers continue to flock to the Quarter?s unrivaled offer and heritage, and visitor numbers will be boosted further by positive demographic forces, improved connectivity and world class developments,? he said.
?On the proviso that the area continues to evolve and grow, it is our view that success will breed further success for London Luxury Quarter.?
The London Luxury Quarter looks at London over the course of the last three years as a followup to a report of the same title from 2012. The report charts London Luxury Quarter?s recent fortunes and identifies challenges and opportunities for fu...
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