The Fragrance Shop Announces Store Expansion Plans in Boost for High Street Revival
Global real estate advisor, CBRE, has been appointed to assist The Fragrance Shop on their store expansion programme across the UK and Ireland.
The Fragrance Shop is the UK’s largest independent, fragrance retailer, with over 220 stores that showcase over 150 fragrance brands and over 100 beauty brands. The retailer plans to grow their store estate by opening an additional 100 sites over the next three years. This includes a rollout of beauty stores and stores dedicated to niche fragrance in addition to the traditional fragrance shop, demonstrating the commitment of an established retailer to physical stores.
Kam Birk, Property Director, The Fragrance Shop said: “Consumers still love the experience of shopping in store for fragrance. Stores remain a priority within our innovation and growth strategy both domestically and internationally. As we widen our reach to include independent beauty stores and stores dedicated to niche fragrance, working in partnership with CBRE will accelerate our plans.”
Following extensive investment into the company’s infrastructure, The Fragrance Shop will focus on acquiring sites in prime town centre locations, retail parks and outlet centres, with a preferred area of circa 650 sq ft with prominent store frontage.
CBRE will work with joint agent Hynes Illingworth on the new store acquisitions.
The Fragrance Shop’s commitment to physical retail comes at a time of much needed confidence for the sector and solidifies just how important the store is to the overall retail strategy. We look forward to identifying well-placed, high-quality sites for our client and assisting them in this next phase of their expansion.