US lingerie giant Victoria’s Secret is planning to expand its four-storey London flagship next year, having acquired the premises of Swiss luxury brand Bally, its New Bond Street neighbour.
The Victoria’s Secret store, which opened in August last year and sells the full range including Victoria’s Secret Pink and Victoria’s Secret Designer Collection, will add to its existing 40,386 sq ft floor space when it acquires Bally’s 6,700 sq ft premises.
Victoria’s Secret declined to comment.
The retailer has six stores in the UK in locations including Meadowhall in Shefield, Westfield Stratford City and Trinity Leeds. In September it opened its first store in the Southeast, a 12,000 sq ft shop at Bluewater in Kent. It also opened its first standalone UK airport store at Stansted in January. Property agent CBRE acts for Victoria’s Secret.
Bally will remain on the famous street but is moving further down to 45-46 New Bond Street, a unit previously occupied by men’s tailoring and accessories brand Avi Rossini. The three-level store, thought to be about 4,500 sq ft, will open next spring. Property agents Thor High Street Advisors and Cushman & Wakefield acted for Bally.
One source told Drapers that Bally was moving to be among more upmarket brands.
“The further south down the road you go, the more luxury you go,” he said. “The new premises have a better quality of adjacencies. It’s a more prominent position for them.” Bally did not return calls for comment.
Victoria’s Secret, founded in 1977, recorded sales of $6.12bn (£3.76bn) with an operating income of $1bn (£613.6m) in 2012.