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Video: Paul Smith on why rent costs are killing the high street

UK fashion designer Paul Smith sells more clothes online than in any of his stores. He tells Bloomberg Television’s Manus Cranny that relentless increases in rent are forcing retailers to focus on ecommerce.

Source: Bloomberg Television

Readers' comments (3)

  • Wow how many accounts does he have, hundreds in the U.K. ALONE including most multiples!
    I think his Brand is too easy to obtain and that's without the web, so much for a little bit exclusive.
    Me thinks the man lives in a bubble!

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  • ... Says Paul Smith the online discounter.

    What he is essentially saying is I can't be bothered to sell in stores any more because my clothes aren't worth the price I'm selling them at with the overheads, so I'll sell online at just above cost and cut out the stores. Another brand who is doing the 'wholesale as retail' route.

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  • I think he is right in what he is saying, there's no way to control rent but fast fashion and the willingness of H&M, Zara etc to pay the big rents really pushes any independents off the negotiation table. It'll be interesting to see what happens with it in the next 5 years.

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