77 007
Fashion Jobs
Buying Coordinator
Permanent · Los Angeles
Operations Associate
Permanent · CAMARILLO
Cash Office Associate, Full Time - 59th Street
Permanent · NEW YORK
Beyond Yoga Hrbp Director
Permanent · Culver City
Director, Private Client Relations, Vic
Permanent · NEW YORK
Director, Material Strategy & Innovation, Sustainability, Coachtopia
Permanent · New York
Cdl Class a Yard Driver (1st Shift)
Permanent · Lynchburg
Engineer II, Regional Quality
Permanent · East Windsor
Regional Manager
Permanent · NEW YORK
Visual Merchandising Specialist | Montgomery Village
Permanent · Santa Rosa
Community Specialist | LA Palmera (Contract)
Permanent · Corpus Christi
Visual Merchandising Specialist | LA Palmera (Contract)
Permanent · Corpus Christi
Community Specialist | Whalers Village
Permanent · Lahaina
Contract Expeditor | LA Encantada
Permanent · Tucson
Community Specialist | Broadway Plaza
Permanent · Walnut Creek
Community Specialist | Pleasant Prairie Outlets (Contract Through June 2024)
Permanent · Pleasant Prairie
Visual Merchandising Specialist | Deer Park
Permanent · Deer Park
Full-Time Loss Prevention Supervisor
Permanent · Watchung
Full-Time Loss Prevention Supervisor
Permanent · East Brunswick
Full-Time Stockroom Operations Supervisor
Permanent · Huntington Beach
Full-Time Loss Prevention Supervisor
Permanent · Lafayette
Full-Time Stockroom Operations Supervisor
Permanent · Coon Rapids
Feb 10, 2021
Reading time
2 minutes
Download the article
Click here to print
Text size
aA+ aA-

Oxford Street at risk as major closures dent appeal

Feb 10, 2021

Recent company failures, brand sales, strategic decisions around stores and footfall declines mean that London’s Oxford Street has a bleak future in the short term.

New West End Company

That’s according to a prediction by the body that represents retailers in the West End of London.

Debenhams will create one of the biggest holes in the street as the flagship, whose galleria concept was once a retail store trend-setter, is set to close for good next Tuesday.

Nearby, the future of Topshop’s Oxford Circus flagship remains unclear, while Gap and Next are said to be closing stores on the street and John Lewis is even transforming part of its London flagship into offices. Other  empty spaces will become apparent once non-essential stores are allowed to reopen.

While many prime sites will be taken over by new names eventually, The New West End Company told The Telegraph that at least a fifth of what was once Europe’s busiest shopping street will be “boarded up with no hope of recovery” and more than 50,000 retail and hospitality jobs will be lost when the lockdown ends.

The newspaper also quoted Local Data Company figures that showed some locations on Oxford Street had been seeing problems even before the pandemic with 80 Oxford Street holding the unwelcome distinction of having seen the greatest tenant churn. It has had 14 tenants since 2002.

Its most recent occupier was a gift shop. The figures also showed that the number of gift shops on Oxford Street rose by 71% between 2012 and 2020, often replacing fashion/clothing shops, which saw the biggest decline in representation on the premier shopping thoroughfare. Fashion’s decline has also accelerated in the last two years and the events of 2020/early 2021 are likely to speed this up still further.

There are some plus points for the street though. While central London footfall has dropped by over 80% at some points in the past year, the much-delayed Cross-Rail project should deliver tens of millions more visitors when it’s finally up and running. This should attract high-quality tenants and help the street’s regeneration. Westminster council is almost investing many millions into improving the visitor experience on Oxford Street, although decades of proposals around pedestrianisation have still not advanced.

Copyright © 2023 FashionNetwork.com All rights reserved.