THE WHAT? The Fragrance Shop has announced a store expansion plan across the UK and Ireland, having appointed global real estate advisor, CBRE, to help with the roll out.
THE DETAILS The retailer plans to grow its store estate by opening an additional 100 sites over the next three years. This includes a rollout of beauty stores and stores dedicated to niche fragrance in addition to the traditional fragrance shop.
The Fragrance Shop is set to focus on acquiring sites in prime town centre locations, retail parks and outlet centres, with a preferred area of circa 650 sq ft with prominent store frontage.
The development follows extensive investment into the company’s infrastructure, with CBRE working with joint agent Hynes Illingworth on the new store acquisitions.
THE WHY? Kam Birk, Property Director, The Fragrance Shop said: “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.”