New JLL report says London is #1 market for retailers
London is the most attractive city in the world for global retailers, according to JLL's latest Destination Retail report.
"London stands at the forefront of international retailing and is a true global retail powerhouse, attracting visitors and retailers from across the world. The UK’s capital features more international brands than any other city in the world," the report stated.
JLL says that it's London's unique blend of market size, maturity and high degree of transparency that means it continues to be a target for new brands. The city's West End retail area - Oxford Street, Regent Street, Bond Street and Covent Garden - forms the largest concentration of retail in Europe, and international retailers are increasingly spreading out from the city’s core streets.
The second most attractive city for international retailers is Hong Kong, where JLL says retailers benefit from the city’s top notch infrastructure network, superior business conditions and strong economic climate. Paris, which came in third place "continues to attract the most outstanding retail brands that inevitably look to the city to open flagship stores."
The other cities in the top ten are Dubai, New York, Shanghai, Singapore, Beijing, Kuwait City, and Tokyo. JLL said London also edges out Hong Kong in terms of luxury brand presence; Paris, Tokyo and New York are next in the rankings behind these two luxury hotspots.
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