PARIS — Adidas is to set open a new London flagship at 425 Oxford Street, its biggest yet in the English capital. The prime location across from Selfridges is part of the sporting goods maker’s five-year growth plan, which aims at upping the brand’s visibility across key cities, including Los Angeles, New York, Paris, Shanghai and Tokyo.
As Roland Auschel, in charge of the group’s global sales, noted earlier this year, 50 percent of the global population lives in key cities, and together they generate 80 percent of global GDP.
“This store will be our flagship retail space in the heart of London’s busiest shopping street,” Auschel said Thursday. “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 property is currently owned by a joint venture between Grosvenor Britain & Ireland and Stow Capital Partners, which has agreed to pre-let 43,000 square feet to Adidas.
“Consultation with the local community and stakeholders is underway in advance of a planning application to Westminster City Council,” Adidas said. “If plans are approved, the new flagship store will open in 2018.”
The plan would involve the reconfiguration and extension of the lower five floors of the 10-story building, with double-height windows on the ground floor and extensive frontage onto Oxford Street, it said.
Craig McWilliam, executive director at Grosvenor Britain & Ireland, said: “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, which oversees growth projects in the area, Oxford Street attracts 600,000 visitors per week, while its retailers take in approximately 5 billion pounds, or $7.56 billion at current exchange, in sales per year.
The West End Partnership is to invest almost 500 million pounds, or $755.7 million, in the area in the next 15 years to help it grow further.