Foot Locker has opened the doors at its new flagship store on London’s Oxford Street in a “significant milestone” for the area’s repositioning.
The 13,691sq ft ground floor store is located at 554-554 Oxford Street, at the western end of the iconic shopping destination, an area undergoing significant development.
It will mark Foot Locker’s third store on Oxford Street. Though it had originally planned to wind down operations at the more centrally located by smaller stores, it is understood to be considering keeping them open alongside its new Marble Arch flagship.
“The letting to Foot Locker is a significant milestone for repositioning the retail and leisure offer at Marble Arch,” advisory firm Kenningham Retail’s said Mark Serrell said.
“Foot Locker is going to deliver a world-class flagship store in the space London & Regional has created and we are excited about progressing conversations on the remaining 6,000 sq ft directly next to Marble Arch station.
“Over the next two to three years, there is a further 50,000 sq ft of new retail and leisure space in development at Marble Arch and we look forward to working with our clients on the delivery of this.”
This comes amid growing plans for development across the entire West End shopping district as it prepares for the opening of the Elizabeth Line.
Alongside plans to completely pedestrianize the already heavily congested area, retailers are preparing to welcome a £4 billion boost in turnover by 2021 and an extra 70 million shoppers.
New West End Company’s chief executive Jace Tyrrell added: “The opening of the Elizabeth line is a once-in-a-generation development that is already spurring significant investment in the district.
“If we take full advantage of this opportunity we can secure the long-term future of the West End as a world-class leisure and retail district.”