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Benetton to open on Oxford Street East

Italian knitwear brand Benetton will open a 15,300 sq ft flagship store at 73-89 Oxford Street, at the eastern end of London’s premier retail street.

The company has agreed a 20-year lease for £2.6m rent per year and will trade alongside New Look, which signed to open a 31,800 sq ft store at the new building in March 2015.

The development is set to open in April 2017.

A spokeswoman for Benetton has confirmed that it will be an additional store to its existing location at 255-259 Regent Street.

Benetton has 57 retail outlets in the UK - a mixture of stores and concessions - out of a total portfolio of 5,000 stores worldwide.

Neil Thompson, portfolio director of Great Portland Estates, which manages the development, said: “We are delighted to welcome Benetton into the portfolio. Securing one of the world’s top retailers in this high quality development, opposite a Crossrail station, continues the exciting regeneration of the eastern end of Oxford Street.”

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