The Fragrance Shop unveils store expansion plans
The Fragrance Shop is embarking on a new store expansion programme across the UK and Ireland.
The retailer currently has over 220 stores and is planning to open an additional 100 sites over the next three years. This will include a rollout of beauty stores and shops dedicated to niche fragrances, as well as stores in its traditional format.
The Fragrance Shop said it will be focusing on sites in prime town centre locations, retail parks and outlet centres, with a preferred area of circa 650 square feet with prominent store frontage.
The retailer has appointed global real estate firm CBRE to assist with the project.
Kam Birk, property director at The Fragrance Shop, added: “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”.
CBRE will work with joint agent Hynes Illingworth on the new store acquisitions.
Nik McCarthy, director of UK retail at CBRE said: “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.”