London has been named as the world’s most international shopping destination, with 57.9% of international retailers present in the UK capital.
Last year 12 new international retailers opened in the city including US names American Eagle and Lululemon, according to research from global property advisor CBRE.
London is followed by Dubai, which has 55.7% of international retailers present, and Shanghai, with 53.4%.
Andrew Phipps, head of EMEA retail research at CBRE, said: “The continued desire for expansion into new cities remains high for international brands and we are seeing a great deal of expansion into Asia and in particular into Tokyo, Singapore and Taipei, whilst, the desire to expand into the Middle East shows no sign of slowing down.
“However, more established markets such as London continue to draw international brands as it attracts a phenomenal amount of international visitors and overseas shoppers making it a truly global shopping destination. It remains key for international brands to have a strong presence in London, fundamentally due to its size, transparency and position on the global retail stage.”
Mid-range fashion retailers were the most active sector accounting for 21% of global expansion, followed by luxury retailers with 20%.
Expansion into the EMEA region was dominated by mid-range fashion brands accounting for 26% of activity, followed by specialist clothing retailers with 18%.