With an increase in visitor numbers throughout 2023, numerous retailers are demonstrating their confidence in physical stores by investing in new flagship outlets.
Retail Gazette has compiled a list of some of the most significant new store launches to anticipate in 2024.
Ikea, Oxford Street
The Swedish titan stated that the postponement was to “guarantee optimal conservation” of the grade II listed former Topshop flagship it acquired in 2021.
The new 82,000 sq ft store will cover six levels and present approximately 6,000 products across the showroom and market-hall area, with over half available for immediate purchase.
Peter Jelkeby, managing director of Ikea UK, shared with Retail Gazette his expectation of observing distinct shopping behaviors at that establishment and pledged to provide more inspiration.
He also indicated plans to diversify its offering seasonally, foreseeing customers frequenting the Oxford Street store more often than its other stores.
“You can anticipate us to modify the range more frequently than we would if you visited [a store] in your vehicle, two or three times a year,” he expressed.
Following the triumph of its two flagship stores in London, the renowned beauty emporium will expand northward with a 5,382 sq ft outlet in Manchester’s Trafford Centre, slated to open this summer. The store will showcase a wide array of beauty products and exclusive brands such as Glossier and Makeup by Mario.
Frasers Group will continue to introduce its Frasers department store concept in 2024, with the next venue in Kent. The retail conglomerate will close its 100,000 sq ft House of Fraser at Fremlin Walk in Maidstone and will reopen in the autumn as a multi-brand flagship, featuring Frasers, Flannels, and Sports Direct.
Moreover, Gymshark will be launching its second UK store this summer in Westfield Stratford City, following the success of its flagship store in London’s Regent Street. The athletic wear giant will occupy a 7,000 sq ft unit in response to the community’s desire to experience the brand in person.
“The opportunity to be present in such a popular location is simply remarkable. I eagerly await the opening,” mentioned a company representative.
Details about the appearance of Gymshark Westfield Stratford are scarce; nevertheless, it is anticipated to mirror elements of its Regent Street store, which includes ‘The Sweat Room’ – a fitness studio offering a rotating schedule of classes for customers – and ‘The Pro Bench’ – a bar where fitness experts offer guidance.
Nike, Leeds Trinity
Nike has secured a location for its third UK ‘Nike Rise’ concept store at the former site of Victoria’s Secret in Trinity Leeds shopping center.
The flagship, covering 10,000 sq ft, is set to open in 2024 and will incorporate innovative digital experiences and services designed to “revitalize the sports scene of the city.”
The store will introduce a digitally powered “Footwear Fastlane” where footwear product information and stories will be shared with shoppers, along with the brand’s customization service “Nike by You.”
H&M is preparing to unveil its new “forward-thinking in fashion” concept along one of London’s most stylish high streets.
The fashion retailer is currently renovating the grade III listed property at 72 Kings Road ahead of a spring opening.
H&M’s UK and Ireland country manager Henrik Nordvall has pledged “tailored services and interactive moments” at the establishment.
Heading northwards, M&S is readying the debut of its latest megastore in Dundee, Scotland, this summer as part of its ongoing initiative to renew its stores across the UK. The new full-line store at Gallagher Retail Park is part of the company’s £30m investment in its Scottish stores. Following this launch, new stores are also planned for Largs and Aberdeen Union Square, with the latter set to be the retailer’s largest Scottish location upon its spring opening next year.
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