A flagship Adidas store is proposed for 425 Oxford Street in London‘s West End. The joint venture owning the property, Grosvenor and Stow, has agreed to pre-let 43,000 sq ft of retail space to the sporting goods retailer.
The scheme involves the reconfiguration and extension of the lower five floors of the ten storey building. This will create a larger unit for Adidas, which aims to build a new flagship store in the prime retail location, opposite Selfridges.
Consultation with the local community and stakeholders is underway in advance of a planning application to Westminster City Council. If plans are approved, the new store will open in 2018, with double height windows on the ground floor and extensive frontage onto Oxford Street. The new store will be designed by PLP architecture.
“We are incredibly excited about realising this project in the heart of London,” said Roland Auschel, Adidas Executive Board Member Global Sales. “Key Cities like London will play a lead role in influencing and shaping the future of our brands. We will “WOW” our consumers through consistent premium presentation at every touchpoint. This store will be our Flagship retail space in the heart of London‘s busiest shopping street. Here, we will provide our consumers with the best Adidas experience, showcasing our latest product innovations and exciting marketing co-operations brought to life through a brand new store design and amazing consumer experience!”
“The West End is one of London‘s greatest attractions for residents and visitors alike,” added Craig McWilliam, Executive Director London Estate at Grosvenor Britain & Ireland. “It is a major driver for the London and UK economies. We all need to invest in the quality of shops, public spaces and shopping experience so that Oxford Street can carry on attracting the world‘s best retailers. Adidas‘ investment is a vote of confidence in the West End‘s potential for growth.”
According to the West End Partnership‘s recently launched vision for the West End, Oxford Street attracts 600,000 visitors per week and its retailers take approximately £5bn in sales per year. The West End contributes 3% of the UK‘s economic output.