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.
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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