Focus on Lisbon R.I.P Boring Retail the Power of the Influencer
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SAVILLS RETAIL OPEN SUMMER 2018 The Power of the Influencer WHICH BRANDS USE THEM & WHY? WE DISCUSS WITH ROSIE FORTESCUE R.I.P Boring Retail WHY THE NEW ERA OF RETAILING MIGHT NEED A NEW APPROACH Focus on Lisbon THE EUROPEAN HOTSPOT FOR RETAIL THERAPY WHAT'S IN STORE WHAT'S IN STORE? WELCOME n recent months it appears not impact on the types of operators we have a day goes by without reading seen coming forward and taking space. 04 Iyet another sensationalist We highlight the vegan trend, one of headline predicting the demise of the most prominent of this year, in our the high street. Whilst we appreciate review of new Covent Garden restaurant 08 that as we write this foreword we are By Chloe (p.40). Whilst our new resident INTERVIEW SPOTLIGHT in the midst of ongoing administration, agent come chef (Masterchef finalist), The posters with power store closure and CVA announcements, Billy Wright, discusses the influx of Under the influence it would be unjust not to recognise street food vendors moving into Bricks Meet 5 top influencers, including F&B TRENDS Which retailers are using Rosie Fortescue 12 how the industry is in fact embracing and Mortar (p.12). influencers and why? Word on the street and adapting to this ever changing In our rather controversial article 'RIP landscape. Boring Retail' we explore how new era A taste of what's to come We continue to be in awe of those retailers are putting the convenience retailers who consistently find ways of the consumer at the forefront of SAVILLS of interacting with the consumer as their strategies, blurring the lines highlighted in our 'Under the Influence' between online and offline retailing. Recent deals article (p.4) we look at how retailers are Here we raise the ever present need See all of our recent19+ deals on turning to social media influencers to for landlords to work with retailers pages 19,27,32,33 and 39 strengthen their brands and ultimately to curate successful retail locations. A 20 sell product. One such influencer is prime example of impressive landlord/ our cover star, blogger and jewellery retailer collaboration can be seen on JUST OPENED GLOBAL FOCUS designer Rosie Fortescue, originally of Pavilion Road, where Cadogan have 16 Open for business Made in Chelsea fame. done a fantastic job in creating a 'mini California Dreaming: Los Angeles The hottest new stores We discuss how this business savvy neighbourhood' in the heart of Chelsea and restaurants in London Jeff Lagowitz fills us in on LA's hotspots woman has capitalised on the shows' (p.24). 28 success which has led to lucrative As ever we continue to roll with the partnerships with the likes of Jo Malone, changes and we are quite simply proud and even the promotion of her own- to be part of this ever-evolving industry, name brand Rosie Fortescue Jewellery. one thing's for sure...it's never dull! In the restaurant world, there are We hope you enjoy our third issue of EUROPEAN FOCUS many positive things happening, Open Magazine. One day in Lisbon 34 especially for more unique operators. Trends in this market are having a big Savills Retail & Leisure team 24 What to do and where to go NEIGHBOURHOOD FOCUS Made in Chelsea RETAIL TRENDS The transformation of Pavilion Road RIP boring retail The new era of retailing Explore the digital magazine at: savills.co.uk/OPENsummer2018 MY CITY London SAVILLS WEBSITE: SAVILLS.CO.UK/RETAIL With Billy Wright,42 SOCIAL MEDIA: @SAVILLS REVIEW restaurant specialist The team ON THE COVER: ROSIE FORTESCUE 43 40 Get in touch with us DESIGNED AND PRODUCED BY: SAVILLS COMMERCIAL MARKETING Meat's a sin vegan's in COVER PHOTOGRAPHY: INSTAGRAM @LUCIAOMC Benji Ashe visits by Chloe 02 OPEN SUMMER 2018 SUMMER 2018 OPEN 03 NAMESPOTLIGHT OF SECTION SPOTLIGHT IF YOU’RE NOT USING INFLUENCERS YOU COULD BE LOSING OUT BIG TIME. BUT WHAT ARE THEY AND WHY DOES YOUR BRAND NEED THEM? nce upon a time, it was every little girl’s dream to be a pop Ostar. What could be better than being a Spice Girl? Singing, award ceremonies, music videos, dancing and David Beckham as a husband. Flash forward to 2018 and times have changed. Why be a pop star, when you could be an influencer? What’s an influencer, you say? My best bet is you have heard of one or two of them already since some have become household names. The queen of them all, of course, is Kim Kardashian, influencer par excellence. It’s a job that didn’t even exist 20 years ago. It effectively started as a direct result of Instagram giving everyone, not just celebrities, the chance to reach out to millions and influence what they bought. under the INFL04 OPEN SUMMER SUMMER 2018 2018 UENCESUMMER 2018 OPEN 05 SPOTLIGHT NAME OFSPOTLIGHT SECTION In some ways, influencers are the new ‘It’ get paid anything from £2,000 to They sit in the front row at major girls – remember Lady Victoria Hervey £30,000 per Instagram post/mention fashion shows; they land prominent ad and Tara Palmer-Tomkinson in the (dependent on the amount of followers campaigns; they star on the front cover Nineties? – but with a whole lot more you have); collaborate with brands of magazines. Indeed, social media business acumen and self-marketing on their campaigns or bring out your following is now the most powerful savvy. Plus they make a lot more money own collection of something (jewellery, currency in fashion: according to than those It girls ever did. perfume, shoes, fashion line, make up, Launchmetrics $2 billion was spent The job description is certainly fitness apps); be sent on holidays to on influencer marketing in 2017, with attractive: be paid to go to parties promote brands, hotels or even locations. fashion and beauty accounting for 40 wearing designer clothes you’ve been In a short space of time, fashion per cent of that figure. Some might say given for free; be sent designer items influencers have become a fundamental brands that aren’t using influencers, are just so you post them on Instagram; part of the fashion establishment. losing out big time. However, influencers can have a negative effect on brands too: such is their pulling power that they can literally knock millions off of a company’s value with a single tweet. In 2017 Kylie Jenner famously wiped £1 BELOW: Blogger Camille Charriere arriving at the Molly Goddard billion off the stock value of Snapchat runway show during London Fashion Week in February 2018 when she tweeted: ‘So does anyone else not open Snapchat anymore? Or is it just me?...Ugh this is so sad…’ The most important mark of an influencer’s success is the number of followers they have, but while influencers ABOVE: Influencers at Fendi who have millions of followers are show, Milan Fashion Week 2018 fundamentally now celebrities, they don’t necessarily have the biggest impact on sales figures for brands. So-called ‘micro It’s not just the Kate Middleton effect influencers’, with between 10,000 to anymore – these influencers can post 999,000 followers, are seen to be more a dress and make it sell out within ‘genuine’ and their followers ‘trust’ them hours. The data is tracked by platforms far more. This means that there is an such as RewardStyle which can verify even stronger relationship between sales how many sales are derived from any densities and that influencer mentioning given post and calculate how much Why use an influencer? a certain product in their feed. The key influencers are owed for the mention. • In 2016 J.W. Anderson’s Pierce bag was worn ingredient brands look for is ‘follower RewardStyle also owns Liketoknow.it simultaneously by four bloggers during New engagement’ which is essentially the which its claims drove $140 million of York Fashion Week. It led to a 45 per cent spike in ratio of the number of likes to comments sales to its partners’ websites in 2016. searches for the bag on Lyst. to number of followers. The platform is by invitation only and, again, some of their best accounts • 22 per cent of customers are now acquired directly aren’t people with 1 million followers, through influencer marketing. but those with 30,000 followers, who command the most trust and loyalty • For every $1 spent on influencer marketing, from their specific audience, some can businesses make $6.50 back on average earn $100,000 for one post if the sales (Tomoson 2015). figures are strong. • The top 13 per cent of businesses can make $20 Are influencers here to stay? While per $1 spent. there are some who believe the ‘influencer bubble’ is set to burst, it’s far • 68 per cent of influencers prefer to work directly more likely that influencer marketing with a brand than via an agency (Grouphigh). “Your number of followers is more will become even more important. That • A celebrity influencer with the reach of Kylie Jenner said, influencers will certainly need to (107 million followers) can command between important than anything else you can add work hard to ensure their relevance and $100,000 and $300,000 per post. authenticity as brands use improving to your CV. It has become your worth. technology and digital platforms to • 77% of fashion influencers prefer Instagram as their measure their data and manage their source of consumer engagement. Camille Charriere (Vogue 2017) relationships with influencers. Please contact Tiffany Luckett for more information 06 OPEN SUMMER 2018 SUMMER 2018 OPEN 07 FASHION FASHION the POSTERS with POWER MEET 5 TOP FASHION INFLUENCERS, INCLUDING FORMER MADE IN CHELSEA STAR ROSIE FORTESCUE.