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Abercrombie & Fitch extends lease on London store to 2021

Abercrombie & Fitch, the US fashion chain, has extended it lease on its central London store until 2021 and plans to open its first childrenswear store in the capital, according to a report in The Independent.

GENERAL MERCHANDISE

Abercrombie & Fitch extends lease on London store to 2021

The annual rent at the Mayfair store, which opened on the corner of Savile Row in 2007, is thought to have more than doubled to over £2 million a year, The Independent said. It also indicated that the retailer may well have paid a premium to remove a break clause in the lease contract.

According to the report, the group has asked property company Capita Symonds, to locate a suitable site for a 10,000 sq ft Abercrombie Kids store.  Mayfair is thought to be the favoured location.

The group has stated that its statregy is to have just one  Abercrombie & Fitch store in central London but has opened 22 of branches of its Hollister fashion chain around the UK.

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