Bespoke tailor Norton & Townsend has taken advantage of rising vacant property rates by negotiating a three-month lease on a pop-up shop for the rock-bottom price of £1.
Norton & Townsend, which was founded in 1992 and sells made-to-measure suits, shirts and footwear in two stores, in London’s Spitalfields and Saltaire in West Yorkshire, and through a visiting service, has opened the pop-up in the Great Western Arcade in Birmingham’s city centre. The tailor approached the shop’s landlord to propose the £1 deal. It will consider whether to take on the site permanently.
Norton & Townsend also wants to open more than a dozen additional pop-ups as a way to market the business. It is eyeing locations including Manchester, Newcastle, Plymouth and Cardiff in which to open via more £1 three-month leases.
Chief executive Austen Pickles said: “The malaise in the high street opens up a new dimension - enabling us to raise our profile. [We are] indebted to the landlord for giving us an opportunity to see if this is viable in the long term.”