Chinese retailers target London for new stores

A collection of Chinese retailers are planning to expand into London in 2013 as the city retains its allure for foreign businesses.

Overseas retailers are eyeing London as springboard to grow in Europe, according to predictions for the year ahead from property agent Jones Lang LaSalle.

London remains the most attractive retail location in Europe based on the presence of the top 250 international retailers, JLL says, ahead of Paris and Moscow.

Chinese fashion retailer Bosideng has already a opened store on South Molton Street in Mayfair and now other retailers are eyeing locations on London’s premier shopping streets, including Oxford Street, Regent Street and Bond Street

Guy Grainger, head of retail at Jones Lang LaSalle, said: “The size, maturity and transparency of the retail market, the large pool of tourist shoppers, in addition to the track record of retailers which have successfully opened in London, all combine to make London the perfect market for testing European expansion for international retailers.

“Looking forward, we therefore expect further international retailer expansion into London, in particular from US and Chinese brands, following the likes of American retailers Victoria’s Secret and Rag and Bone, and the first Chinese entrant into the market, Bosideng.”

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