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Upmarket London neighbourhoods retain their appeal for the world’s luxury brands

New entrants into the capital’s competitive retail environment has remained robust this year, with prime streets remaining popular with some of the world’s biggest luxury brands.

According to new data by real estate group CBRE, there were over 75 new retail entrants to London in 2016, with areas including Mayfair and Chelsea proving especially popular with upmarket retailers.

The figures analysed the number of new retailers who entered the Central London market this year and found that two thirds of those making their debuts in the capital hailed from Europe, with 16 from the UK, 11 from France and nine from Italy.

New brands this year included France’s IKKS and designer Vanessa Seward’s UK debut in Notting Hill, while US footwear brand New Balance launched its first UK flagship store on Oxford Street.

Phil Cann, Head of UK Retail, CBRE, believes that the capital remains something of a safehaven for investors and the ‘most attractive’ destination for retailers looking for their first UK presence.

He said: “Despite perceived high rental levels and competition for space, as well as any uncertainty immediately after the vote to leave the EU, retailers will always look to the areas and streets which best reflect their brand and allow them to develop their offering and reach new audiences.

“For both domestic and international brands, the continued investment in London’s prime shopping areas will ensure they remain a magnet for new openings as we head into the New Year.”