!VAR HAGENDOORN

Reading the city (1)

Prime locations are a good reflection of retail power. The four corners of London's Oxford Circus are currently (Spring 2007) occupied by Niketown, H&M, United Colors of Benetton and Shelleys, a UK based chain of shoe stores. Shelleys is the odd one out. It has been at Oxford Circus for at least two decades. Perhaps they signed a long term lease, perhaps the building is less attractive than nearby sites.

Further down the road in Regent Street global brands dominate. Liberty has had to withdraw to its premises around the corner in Great Marlborough Street. January 2006 neighbouring Dickins and Jones had to close its doors after a continuing slump in sales.

November 2004 Apple opened its first European store on Regent Street. Other retailers that have opened shop in Regent Street in recent years are Habitat, Zara, Quicksilver, Lacoste and Ted Baker. On my last trip to London I was delighted to see that, among the global brands, Duchamp, maker of the funkiest socks, ties and cufflinks has opened its flagship store on Regent Street.

The Apple Store is one of the biggest retail success stories of the past few years. Flying high on the sales of one of the products of the decade, the iPod, Apple is opening stores on prime locations around the world. What's more, they ONLY open a store if they can get a prime location.

What will the shopping landscape look like, 5, 10 or 20 years from now? In the 19th century 235 Regent Street, the address of the Apple Store, was still occupied by a piano maker.