Last week we welcomed five incredible panelists for “Taking Retail Offline”, the first of our BGP Presents events; discussing why fast growing retailers are strategically investing into new stores and locations.

We were thrilled to host founders and key figures from a mix of UK and international brands; Alfie-Lee Marcus from East London born menswear brand Percival, Niels Tange Mollman from international outdoor apparel brand Rains, Jessica Warch from sustainable jewellery creators Kimai and Lara Gibson-Chant of British brand incubator concept Brityard. We were also joined by Leanne Catterall, Director of Retail and Hospitality leasing at Canary Wharf, to offer a landlords perspective.

Our Brand Partnership Directors Harry Elliott and Lizzie Knights took the panel through a fascinating discussion about why they are strategically choosing to invest into in-store experiences and new stores over ecommerce; how they overcame industry challenges and what is coming next for their brands.

KEY TAKEAWAYS:

STORE PRESENCE IS ALL ABOUT CUSTOMER EXPERIENCE.

Many of our panellists customers are looking for an experience, not a transaction. Alfie Lee from Percival explained that they put a bar in their Spitalfields store – initially for friends, then for everyone. These visitors browsed, shared pictures online, bought products and told all their friends to come. It demonstrates how the level of customer experience a brand can offer in-store simply can’t be created online.

INTERNATIONAL BRANDS CAN GET LOST ONLINE.

Customer experience is key, and for an international brand without a big digital marketing budget, it’s incredibly difficult to stand out online. Niels explained that Rains expect to grow the brand organically from 21 stores globally to 40 within the next two years: “ Following the success of our latest opening in Dublin, we are continuing to expand in new geographical locations where we are currently unrepresented…..Here in the UK we are now under offer on our first store outside of London, in a location where we see correlation with the city demographic and our customer.”

LOCATION IS AN INVESTMENT WORTH MAKING.

Foot traffic, visibility, and knowing where your customer will be is the most important decision you will make in your store presence.

Lara Chant highlighted that this was a key insight behind the Brityard concept – to give new British brands the visibility that comes from their incredible location on Regent Street.

POPUPS REMAIN THE BEST WAY TO TRIAL A STORE CONCEPT.

Alfie Lee Marcus of Percival said:  “We came offline initially in 2021 to launch a collaboration with Champion. Following a huge success, we extended the pop up to showcase our Percival collection. 4 years later – Soho is now home to our London flagship and have since now opened our second standalone store in Spitalfields Market Shoreditch.”

STORE PRESENCE ELEVATES GROWING BRANDS.

Many retailers launch online and market themselves through social media – Jessica discussed the impact Kimai’s appearance on Dragon’s Den had on brand awareness. Kimai were becoming a fairly established brand and had secured their first store on Chiltern Street, Marylebone before appearing on Dragons Den but the publicity they attracted after the show really helped to boost their profile on a global scale. The brand is now looking to open physical retail overseas.

BE OPEN MINDED ABOUT LOCATION.

A destination’s footfall is fluid. Leanne Catterall from Canary Wharf explained how post pandemic, Canary Wharf’s shopper and restaurant footfall is 60% families, tourists and visitors rather than office workers. This evolution is reflected in the brands that want to take space there, with new openings from Newbie and Trinny London.

Our Brand Partnership team specialise in advising brands on how to elevate their brand through a store presence. With decades of experience and contacts that can open up unique opportunities, get in touch with them to discuss further or arrange a meeting.

As 2024 gets off to an incredibly busy start of viewings and offers here at Bruce Gillingham Pollard, Rob Barnes argues that there is great cause for positivity ahead – for those businesses willing to diversify

As we consider the outlook for the year ahead, a key question dominates. Are we being too negative?

A glance through 2023’s business headlines may have lead us to believe that the high street is in its death throes, with the demise of Paperchase and Wilko cited as an example of widespread decline.

However, one month in to 2024 and already a different picture is starting to emerge. Here at Bruce Gillingham Pollard – where we have a particularly diverse range of instructions –  it has been an incredibly busy start to the year, with a large number of viewings and offers.

We don’t have to look far to find specific reasons for positivity. Discount retailer B&M – incidentally, Wilko’s rival – is planning a 45-store expansion, while department store group Frasers has stated an ambitious aim of 100 new locations. While from an F&B perspective, casual bar and restaurant chain Loungers is in rude health, having just celebrated it’s 250th opening.

So what’s their secret? In short, with speed and agility – and the help of landlords – they have adapted to a new retail landscape by diversifying their offering.

Recognising the need for change, landlords are offering flexible arrangements that attract innovative players. Lets take Frasers as an example. The retailer has dramatically revamped its proposition, with a new flagship Everlast Gyms at the Metrocentre in Gateshead sitting in a 37,000 sq ft facility located in the former Debenhams, alongside sister brand Sports Direct. On the ground floor is Flannels – further diversifying their offering, while bringing the total Fraser’s Group footprint to 130,000 sq ft.

Loungers have also taken a proactive approach to diversification. Primarily situated in suburban high streets and small town centres, each uniquely designed (and named) outpost combines features varying elements of a restaurant, pub and coffee shop. The overall focus on community is one that has certainly resonated well with their customers across the UK.

While it is clear that retail faces big challenges, evidence from the bigger picture suggests resilience. According to Savills, total retail demand in 2023 increased by 5.5% compared to the previous year, following another 3% increase in 2022.

So perhaps the conclusion is that rather than justification of ongoing retail landscape pessimism, the closure of a few well loved brands in 2023 was simply the weeding out of unsustainable business models – while the future belongs to those willing, and able, to diversify.

Having returned from Landsec, Sophie Moorcroft has now moved into the capital markets team at Bruce Gillingham Pollard working alongside Jack Barratt, Woody Bruce and Nick Halley bringing an understanding of client requirements. Her experience at Landsec spanned all geographies and sectors, and the move to the capital markets team poses an opportunity for her to specialise, whilst bringing further adaptability to the team.

Advised by BGP, The Ardent Companies UK has completed its acquisition of the retail element of The Royal Exchange in the City of London from Oxford Properties.

The Royal Exchange, located opposite the Bank of England between Threadneedle Street and Cornhill, is the City’s leading luxury retail destination.

Providing 51,400 sq ft of retail space around a historic covered courtyard, brands at the scheme include Tiffany & Co, Hermès, Bremont and Fortnum & Mason.

BGP’s Woody Bruce commented: “This is an iconic City of London property and we’re delighted to be part of its future evolution as the City adapts to new working and shopping patterns”.

This weekend, why not head to the newly opened Sandbox VR UK in Museum Street, London. Jump into a high-tech virtual reality world and choose to be at the centre of a zombie attack or fighting pirates on the high seas.

London’s first Sandbox VR uses Hollywood motion capture cameras, 3D precision body trackers, custom hardware, and haptic suits, so you feel at the centre of the action, and you definitely leave reality behind.

Great work from Harry Cody Owen and joint agents Freddie Steel and Duncan Gilliard of Cushman Wakefield in securing a UK first.

Bruce Gillingham Pollard are delighted to have been appointed by Landsec to join their new retail leasing agent panel,  working across the hospitality portfolio which includes food & beverage, fitness, leisure and hotels.

The panel, which has been formed as part of Landsec’s new operating model launched late last year, seeks to “redefine the traditional retail leasing agent model”.  BGP are one of 6 retained companies, where each agent will work collaboratively with Landsec’s brand team to “service new and existing retail customers whilst supporting the business in finding new brands to curate the right brand mix across its destinations”.

The move is aiming to reflect Landsec’s efforts to drive performance and build a more “customer-centric” approach, and will challenge the traditional, location-led agent structure by aligning advisers to specific brands and sectors. It says that creates a more “transparent, sustainable model encouraging a partnership-led, portfolio wide approach”.

Bruce Gillingham Pollard managing director, Tracey Pollard, “ we are delighted to continue our long-standing relationship with Landsec and believe their customer-centric approach to leasing is very much aligned to our own strategy across the F&B and Leisure sectors. We’ve always specialised in taking a concept-led approach to identifying the right operators who are a fit with a specific location, its demographics, and the aspirations of the landlords. We track F&B and leisure operators as they develop and have been involved in several launching into the UK regions following debuts in London.

This week we launched the marketing of the retail and F&B at Piccadilly Lights. An iconic London building with flagship retail, a rooftop and other restaurant / bar opportunities wrapping around the globally recognised digital advertising space.

For further information, please contact Woody Bruce, Charlotte Roberts or Lucy Cope.