Wave of Closures
A beloved fashion chain adored by Princess Diana is set to open seven new locations after a series of recent closures. Hobbs, a women's clothing retailer, shuttered stores in Bloomsbury, Victoria, and Islington, but now has plans for expansion.
UK and International Growth
Hobbs not only aims to expand its presence in the UK with new stores in Canary Wharf, Watford, and Manchester, but it also has its sights set on branches in Hong Kong, Ireland, Germany, and New York. These new locations will bring the total number of Hobbs stores to approximately 80.
High-End Fashion for the "Average Woman"
Hobbs, which was founded in London in 1981 and acquired by RFG London in 2004, caters to the "average woman between the ages of 20 and 40." The retailer currently operates 128 concessions in the UK and overseas and is known for its upmarket clothing.
Challenges on the High Street
Hobbs' expansion comes at a time when many high street retailers are closing down due to increasing costs and the shift towards online shopping. Major names like Jack Wills, Co-op, Clintons, and HMV have all permanently closed stores, while others, including Boots and Marks and Spencer, have been slimming down their branch portfolios. Banks and pubs/restaurants have also been affected by closures.
Other Retailers Expanding in 2024
Despite the challenges, some retailers have plans for expansion in 2024. Wilko, which faced collapse last year, has already made a comeback with new concept stores in Plymouth, Luton, and Exeter. B&M, a rival discounter, bought 51 Wilko locations and has been opening branches in various towns. Sephora, the cult beauty retailer, is set to open its third UK store in Manchester, while Costco has plans to open 14 new warehouses across the UK.
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