Regent Street has been a hotbed of retail innovation for close to half a decade now. Things really kicked off when Apple chose London’s grandest thoroughfare as the location for its first European foray and having done so, proceeded to create an interior that still looks fresh and interesting as the first month of 2009 draws to a close.
Much of the credit for the remodelling of Regent Street must go to the Crown Estate, which has worked long and hard at securing novel retail acts, many of which have regarded the area as a must when considering where to open a flagship.
At first glance the list is impressive – Habitat, Nokia, Cos, Desigual and Armani Exchange are just a few of the names that have set up shop here. And almost without exception they have opted to lavish cash on stores that dazzle and delight. The problem is, will this be enough to survive the crunch? It’s one thing to have a good looking store, but quite another to persuade shoppers to make free with the contents of their wallets.
A stroll along Regent Street this Monday, accompanied by a little shopping, revealed a very mixed bag. A number of stores seemed to be busy and to have rid themselves of Christmas stock, but for an almost equal number things looked distinctly uncertain.
Traditionally at this point in the year markdowns occupy an increasingly remote part of the sales floor, the bargains having been snapped up and the final reductions waiting for those who buy because an article is cheap, rather than because it is needed. This was the case in some stores, but there were plenty that looked as if it was still the beginning of January.
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