DAY SEPTEMBER 21 WORLD RETAIL CONGRESS, SEPTEMBER 19-21. LONDON


J Crew could be in UK within a year


Luxury targets smaller stores


Luxury retailers will continue to open stores but those outlets are likely to become smaller, with niche sub- brands possibly operating from capsule stores, the World Retail Congress was told yesterday. Speaking at the luxury retail


Drexler and Green: International plans


BY MARK FAITHFULL J Crew boss Mickey Drexler


has revealed that he has found the location for his UK debut store. Drexler told the World Retail Congress: “We found a fantastic store that I want to open.” Drexler said he was yet


to sign the contract for the location. Regent Street is understood to be top of the US retailer’s shopping list and it is understood to be in discussions to take on the property formerly occupied by Burberry. J Crew will launch in the UK in the next 12 months, according to Drexler. He said: “We’re opening in the


next year and we’ll have a few stores in the next couple years.” Both Drexler and Arcadia


owner Sir Philip Green warned about the level of promotions in the fashion market. Drexler said: “There is a lot more discounting than ever before. Amazon alone has increased earnings from $30bn to $60bn [since 2008]. They’ve taken $30bn out of a flat market. There’s a lot more discounting, a lot more competition and less creativity.” Green said he has erred


away from discounting in his Topshop and Topman fascias. He said: “If you’ve got great product, guess what, people


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want to buy it. We’re very protective of our brand, that’s how you build loyalty.” The Arcadia tycoon said


that the UK market had stabilised. He said: “The consumer knows where they are now, they know what they’ve got to spend. The market is ok and [retailers] are running their businesses accordingly, but the consumer is managing their purse accordingly.”


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session, Fifth & Pacific CEO Bill McComb said that in an omni- channel world stores remained vital but that he was more likely to look for space between 2,300 sq ft to 2,400 sq ft than previous floorplates of 4,500 sq ft. He added: “The square


footage binge is over, we are building our business around omni-channel and that means smaller stores but those stores remain crucial to our offer.” The panel cited consumers


from Brazil, China and Russia as the drivers of global growth in the luxury sector, while all acknowledged the increasing influence of mobile-based retail. Brooks Brothers CEO Claudio del Vecchio said: “E-commerce is growing at an increasing pace and mobile is influencing much of this. The priority for us is to integrate the channels with our stores.”


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