Coolway, the Spanish shoe and accessories brand, is to open its first store in the UK on London’s Oxford Street, it was confirmed today.
The shop, which is 4,500 sq ft and used to be occupied by Playboy Entertainment Group, has been secured for an undisclosed fee with property company CB Richard Ellis (CBRE) acting as leasing agent.
Established in Valencia in 2003, Coolway now has more than 100 stores across Europe all specialising in young footwear fashion.
Opening in September of this year the London store will carry the Coolway range of contemporary show styles and a growing line of accessories, including bags and jewellery.
Kevin Farrow, Senior Director for Central London Retail at CBRE, said: “Coolway is an extremely popular fashion brand from Spain that believes in creating diverse and stylish footwear for young people.
“Its flagship store will be a fitting addition to the rapidly improving area east of the Circus.
“CBRE has been retained as the exclusive agent to advise on Coolway’s entry into the UK market and we are also looking at suitable locations for two further stores in prominent retail destination in central London.”
London’s West End area, consisting of Oxford Street, Bond Street & Regents Street, has still proved a huge draw for international retailers despite the difficulties experienced at most other high streets around the country.
Data from the New West End Company earlier this week revealed that retail sales in the area grew 11 per cent year-on-year in June and retail tourism group Global Blue predicts spending by international visitors to increase by 25 per cent during the next six months.
Jose Martin Luis, Director of EMEA Cross-Border Retail for CBRE, added: “The increasing confidence of retailers to expand across borders is changing the dynamics of the global retail business.
“As a result, the need to understand how to access and operate in new markets is imperative.
“As part of our partnership with Coolway, CBRE’s cross-border team will aim to take advantage of our extensive network of retail agents to target the most opportune locations in western Europe.”