THE WHAT? Kering has agreed to pay a record £13 million per year to lease a six-storey building on London’s luxury hub, Bond Street, according to a report published by the Retail Gazette.  

THE DETAILS The previous record for the exclusive shopping street is said to be £11 million. Kering’s new space will house its Yves Saint Laurent fashion brand.

THE WHY? Kering clearly has cash to splash; the luxury market not only held its own during the pandemic and cost of living crisis but is now benefitting from the return of the Chinese consumer to London’s streets.