Luxury retailers would have to sell 750 red carpet Oscar-worthy dresses to pay for a year’s rent in a shop on London’s Bond Street.
© David Fisher/REX/Shutterstock
With retail rents averaging around £1.5m per annum for a unit on London’s most prestigious streets, and a top-quality dress in store costing around £2,000, luxury retailers would need to kit out 14 Leonardo DiCaprios, Emma Stones or Cate Blanchetts (pictured above) every week to break even.
Add in running costs, manufacturing and a profit margin and stores on Bond street would need to sell 3,500 dresses or 38 a week.
THE MATHS
It comes as Colliers International released research showing that 21 of the best dressed celebrity outfits at last year’s Oscar ceremony could have been bought on Bond Street, with over half of the designers having a presence on the luxury London shopping street.
Bond Street was closely followed by Sloane Street, where 19 of the 2016 Academy Award designers have stores. Brompton Road, Dover Street and King’s Road made up the final top five high streets.
Canny landlords should have their eye on four of last year’s Oscar designers who do not yet have standalone stores in London’s West End, meaning those aiming to emulate stars wearing Marchesa, Givenchy, Brandon Maxwell or August Getty must currently make do with concessions in the luxury department stores or online shopping.
Tonight’s Academy Awards are likely to set luxury retailers tills ringing, said Paul Souber, head of Colliers International’s central London retail agency: “When images of the Oscar winners are instantaneously flashed around the world online, there will be a small but significant percentage of shoppers out there who will want to head to Rodeo Drive, the Ginza, rue du Faubourg St Honore or, indeed, Bond Street to buy the same brands that the stars are wearing while clutching their prized statuettes.”
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