CLIENT NEWS: Burlington Arcade in Evening Standard – on BrexitPosted by in Latest News, Marketing
Burlington Arcade posts sales surge as shoppers embrace weak pound
Sales at one of London’s oldest shopping centres leapt after wealthy Middle Eastern shoppers celebrating Eid and savvy tourists taking advantage of the weak pound boosted takings.
European investor Meyer Bergman, which owns Mayfair’s Burlington Arcade with Thor Equities, said revenues have bounced by as much as 50% at its string of luxury retailers since the Brexit vote.
Sales rose 20% on average last month.
The arcade, which opened in 1918, is home to luxury brands such as Church’s, Chanel and Manolo Blahnik.
Meyer Bergman said watches and shoes were among best-sellers last month, with shoppers arriving from the Middle East, Asia and the United States.
A spokesman for Roja Dove Parfums said purchases of its £2,500 per bottle Roja Haute Luxe increased dramatically during the period.
He added: “Tourist sales have risen a substantial amount since the Brexit vote. International clients are taking advantage of the weaker pound and therefore buying in bulk.”
Peter Mace, partner at Cushman & Wakefield, Burlington’s leasing agent, said Brexit had not dampened demand at the arcade, with 25 luxury brands interested in taking space.
Original article can be seen here: http://bit.ly/2duxjw3Tags: Brexit, Burlington Arcade, Mayfair, Roja