The Economic Importance of Bond Street As the Luxury Anchor for London Has Been Recognised

Home , Bond Street

CONTENTS

02 12

THE OPPORTUNITY MAKING GLOBAL OF BOND STREET HEADLINES

03 14

THE CHANGING FACE ATTRACTING MORE OF BOND STREET INTERNATIONAL SHOPPERS

08 16

EXCEPTIONAL SERVICE BOND STREET MANAGEMENT GROUP

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DESTINATION MARKETING BOND STREET DIRECTORY TO DRIVE VISITORS

THE ECONOMIC IMPORTANCE OF BOND STREET AS THE LUXURY ANCHOR FOR LONDON HAS BEEN RECOGNISED.

1 Charm Bracelet, Asprey

Charm Bracelet, Asprey THE OPPORTUNITY OF BOND STREET

London’s Bond Street is one of the world’s leading luxury destinations, internationally distinguished NEW WEST END by its uniquely enriched tenant mix, historic COMPANY IS setting and cultural capital. Despite increasing values and solid trading performance, the street FUNDED BY falls short in the quality of public spaces and BUSINESSES TO overall visitor experience. Retailers, property GENERATE A owners and clients alike have become aware of the disparity between the quality of their TANGIBLE RETURN stores and the quality of the streetscape. ON YOUR New West End Company established the Bond Street Management Group in 2013, INVESTMENT. with the primary goal of driving improvements to Bond Street through its Development Plan.

As a Bond Street business, you fall into New West End Company’s area and so will benefit from The economic importance of Bond Street as the the enhancements to the street. New West End luxury anchor for London has been recognised, Company is funded by businesses like yourself but without the single vision of one owner there to generate a tangible return on your investment has been a lack of leadership and investment. through increasing sales, values and proactively The Bond Street Development Plan, spearheaded influencing policy and leveraging public funds to by Westminster City Council, Transport for deliver the best trading environment for you. London and New West End Company and with UNIQUELY the support of Bond Street businesses, will lead We thank you for your continued support with plans to return the street to its former glory and ENRICHED our endeavours to maintain the West End’s ensure it continues to deliver commercial return. TENANT MIX, position as a thriving hub for retail and leisure. HISTORIC SETTING AND Paul Dimond CBE, Chairman, Bond Street Richard Dickinson, CEO Management Group, and Deputy Chairman, CULTURAL New West End Company DAKS Simpson Group plc. CAPITAL.

2-3 PAV EMENTS AND LANDSCAPING AND STREET DECOR AND THE CHANGING FACE CARRIAGEWAYS STREET DESIGN INNOVATIVE SIGNAGE • A significant re-design of the • Street de-cluttering by sourcing • Designing spaces for public art street to widen pavements and alternative locations or in conjunction with the Royal OF BOND STREET allow shoppers up to 50% more removing street furniture Academy of Arts and leading room to promenade. completely. artists. • Reducing the width of • Introducing gateways at each • Collaborating with leading carriageways in parts of the end of Bond Street to create a designers and architects to street and introducing shared sense of exclusivity on arrival. introduce a new suite of street “Bond Street is internationally renowned for its unique appeal, use spaces. (The existing • Designing tranquil oases in furniture to run alongside demonstrated through its rental rates and high demand from luxury ENSURING carriageway and pavements will areas around Bond Street. existing pieces. powerhouse brands to position their European flagships here, but THE STREET be replaced with high quality • Creating new plantings such as • Installing new street lighting to improvements are needed. The transformative remodel will bring materials). hanging baskets and trees – achieve day and night lighting economic benefits through increased sales and footfall, ensuring the KEEPS ITS EDGE planters were placed outside a effects whilst also improving street keeps its competitive edge against rival destinations.” AGAINST RIVAL number of stores in 2013. connectivity to side streets. Beverley Aspinall, Managing Director DESTINATIONS. • Repositioning bicycle racks. • Incorporating improved and Bond Street Management Group • Introducing new guidelines for innovative signage and way- hoardings. finding systems, which A CHANGE TO PARKING emphasise the history and heritage of Bond Street and • New arrangements to allow provide links to adjoining streets. short-term parking for shoppers • Continuing the four-year visiting by private car. £1m festive illumination • Partnership with car parks to scheme to celebrate Bond improve awareness of nearby Street’s rich heritage. car parks and offering special rates for Bond Street clients.

Bond Street Illuminations

IT WILL BE THE FIRST MAJOR REVAMP THAT LONDON’S MOST CELEBRATED LUXURY AVENUE HAS SEEN IN OVER 30 YEARS .

Proposed Bond Street Improvements 2018

A multi-million pound development End Company’s Bond Street Other predictions for the future plan has been proposed which Management Group, together requirements of Bond Street’s would radically change the with Westminster City Council numerous pedestrians, cyclists, streetscape and secure the area’s and Transport for London, was private and commercial vehicles, future as a globally competitive first proposed in 2013. Since then, were highlighted in 2014’s ‘Place luxury destination. It would be the delivery partners have been Making and Movement Study’. first major revamp that London’s assigned with the aim of The results – showing detailed most celebrated luxury street has completing the work in time for movement models, form part of seen in over 30 years. the launch of Crossrail in 2018. the consultation with Bond Street When this happens, the number businesses and the wider The re-design proposal which is of passengers using the station community. led by Beverley Aspinall, will increase from 155,000 to Chanel boutique Radiance Ring, Boodles managing director of New West over 222,000 daily.

4-5 SHOPPER PROFILE ANNUAL TOP SPENDING INTERNATIONAL BETTER TRAFFIC first two of these elements – waste MARKETS 2014 (FIGURES FROM GLOBAL BLUE) FLOW collection and delivery times. 11% 48% Average spend per domestic local Nation % of total spend transaction (£) tourist residents Phase one of the Commercial The plan is to reduce commercial China 28% 1,779 Vehicle Reduction Scheme was traffic up to 70% during core Russian Fed 6% 1,284 introduced in 2014. It highlighted trading hours. To date, Bond access and restrictions for Street has received a grant of United States 5% 1,157 commercial vehicles on the £72,500 from Transport for Saudi Arabia 5% 1,593 street to improve the shopping London and is working with Kuwait 5% 1,068 experience during core trading delivery partner ARUP to UAE 4% 1,959 hours. New West End Company’s implement the scheme in 2015. Qatar 4% 1,870 Bond Street Management Group New West End Company is Hong Kong 4% 1,526 concluded that the key issues to working with other partners to Nigeria 4% 1,607 be addressed were; consolidation ease the process of collecting waste Malaysia 3% 1,184 of waste, delivery times, freight, by encouraging preferred suppliers suppliers and couriers. Work has for all stores. Fenwick’s shoe corner now begun by focusing on the

THE KEY Tiffany & Co, 61% Old Bond Street 41% £902 ISSUES TO BE international said they would visit Bond Street tourist more often if shops opened later is the average retail spend ADDRESSED – 9pm is the most popularly on Bond Street WERE; requested closing time CONSOLIDATION OF WASTE, 51% BIGGEST INTERNATIONAL SPEND BREAKDOWN DELIVERY VISITOR MARKETS of shoppers want an Country % of respondence 6% 40% TIMES, FREIGHT, improved food offer France 14% domestic local SUPPLIERS AND tourist residents Germany 9% COURIERS . Norway 8% Sweden 6% America 5% Belgium 5% 25,000 Italy 4% vehicles use Bond Street Australia 3% everyday. 38% of all vehicles The Netherlands 3% are commerical. China 3% Austria 2% Denmark 2% Finland 2% Portugal 2% 155 Switzerland 2% Canada 2% retailers (including antique/art Ireland 2% 54% dealers) and90 280 offices 2% international Kuwait tourist property owners and 60 Russia 2% residential properties 600on Bond Street 90 10am deliveries are made every property owners and 60 to 2pm is peak delivery time. day on Bond Street residential properties Most deliveries occur outside on Bond Street the recommended times

Proposed Bond Street Improvements 2018

*Research by CACI in April 2014 6-7 REDUCING CRIME

According to recent national statistics, crime levels have EXCEPTIONAL fallen by 12% in the past year. New West End Company continually monitor the statistics SERVICE and is working closely with the Metropolitan Police to reduce the most serious crimes. STREET CLEANING AND It spurred the company to team by the relevant organisation as New West End Company CRIME MANAGEMENT up with Keep Britain Tidy and quickly as possible. A speedy also works with public realm create a new public campaign, response service is also in place consultants to ensure that the Keeping any busy London which aims to stamp out dense to ensure that any cleansing streetscape acts as a deterrent to shopping street clean and safe is clusters of the sticky matter in issue is attended to within 30 criminals, while at the same time, no easy task. But in 2013, New and around the West End. minutes of being reported. working with retailers and police West End Company introduced to introduce ‘Smash and Grab’ better and more frequent cleaning Nothing escapes the New West reduction strategies. Improved of pavements and carriageways. End Company Bond Street THE BEADLES radio contact between retailers, It also added an additional daily Beadles. They now conduct INTERACT WITH New West End Company and street clean. Over a six-month daily street monitoring and police has been implemented and period, 6,684m2 of footpath was environmental patrols. If an 80,000 VISITORS CCTV monitoring along Bond washed and cleared of discarded issue needs attention, the A YEAR ON BOND Chanel, New Bond Street Street is fully operational. chewing gum. Beadles will ensure it is resolved STREET. A WARM behaviour, providing valuable introducing loyalty programmes WELCOME intelligence to Police and as well as digital services for Council Enforcement officials. discerning customers. In 2013, New West End Company introduced the Response to the Beadles has Bond Street Beadles to been extremely positive and welcome visitors to the street. visitor interactions with them Dressed in their signature have increased by 39% year- bowler hats and specially on-year to date – that amounts designed Bond Street suits, to almost 80,000 per year. they are instantly identifiable Now New West End Company amongst the crowds. wants to take the customer service offer on Bond Street The Beadles speak many even further. The plan is to different languages to assist introduce a comprehensive international shoppers and concierge service, which provide them with local includes working with tour information. They also play operators, to create destination a vital role in enforcing action shopping packages, providing on illegal and anti-social collection services and

TRADING HOURS Greenfire Necklace, Boodles In 2014, New West End Company asked residents and shoppers about improvements they would like to see on Bond Street. The findings showed that 61% said they would visit more often, if shops were open longer. The result of this research has since been used to extend opening hours. Since the pilot, 30% of retailers now stay open until

Louis Vuitton, New Bond Street 7pm or later during the week, while 55% welcome shoppers on Sundays.

8-9 A NEW ILLUMINATIONS New West End Company, along SCHEME FOR BOND STREET with the Bond Street lighting committee, comprising of Asprey, Things got off to a dazzling Bonhams, Fenwick and Tiffany DESTINATION start in November 2014 with the & Co, delivered the festive lighting exclusive launch of a new £1m, programme via a global media four-year illuminations scheme. launch. Coverage later appeared MARKETING TO The striking theme featuring in a number of international titles, elegant peacock feathers, was and drove visitors to the street over plucked straight from the journals the festive period DRIVE VISITORS of Bond Street’s history, when back in the 18th Century, a group of LOOKING AHEAD TO 2015: As part of the ongoing strategy and businesses, including Chinese language media and 28 travel fashionable young men known as THE BOND STREET FESTIVAL to revitalise and promote Bond Visas, trading hours and more trade representatives. Throughout ‘the Bond Street loungers’, would Street, a number of initiatives police visibility, to deter crime. the event, Bond Street connected parade along the street dressed in For the first time, the FT Weekend have been devised, raising the with a host of media and luxury the latest fashions. and New West End Company have profile of Bond Street nationally PROMOTING BOND STREET trade partners on territory. The joined forces to celebrate Bond and internationally. These include; initiative resulted in over a hundred Street, in a festival likely to launch in autumn 2015. Top billing will be luxury tourism partnerships, new In October 2013, Bond Street media articles in China and the leading writers and commentators market development, press trips together with the London UK, while those in attendance from the FT’s arts and culture and public relations, overseas Luxury Quarter, accepted the gained an invaluable insight into pages. They will be participating in delegations, conferences and Mayor of London’s invitation the profile and needs of China’s a series of seminars and receptions media campaigns. to host an official ‘Welcome to most affluent consumers. featuring Bond Street businesses as London’ showcase. The event well as its art galleries and auction A dedicated Marketing Manager marked the beginning of Boris houses. An editorial feature will run for Bond Street has been appointed Johnson’s mission to China and along with exclusive events for to drive this activity, and will also was designed to raise the profile focus on the customer experience, THE EVENT FT readers. of the London Luxury Quarter from shopper services to bespoke and Bond Street amongst wealthy MARKED THE tours and experiences. Chinese travellers. BEGINNING OF BUSINESS BRIEFINGS AND In addition, New West End The opening reception brought BORIS JOHNSON’S NETWORKING Company continues to lobby on together over 120 influential MISSION TO the issues that affect the street people, including 51 Chinese- CHINA. • Marketing and Communications Directors Breakfast • Development Plan Consultation Exhibition • Security Seminar MET Police Forum • Bond Street Annual

Cllr Robert Davis DL, Westminster City Council and the Bond Street Loungers Conference • Store and operational manager seminars on freight consolidation, consumer insights, tourism THE STRIKING and trading hours THEME... WAS PLUCKED STRAIGHT FROM THE JOURNALS OF BOND STREET’S HISTORY.

Bond Street Delegation to China Bond Street Illuminations

10-11 BBC America Online BBC America Online 3 December 2014 3 December 2014

MAKING GLOBAL 03.12.2014 – BBC America Online

Nouvelles D’Europe HEADLINES 21.11.14

21.11.14 – Nouvelles D’Europe

Evening Standard 30.08.2013

The Times 14/11/14 30.08.2013 – Evening Standard Circ: 392,843

RIA Novosti 17.11.14

17.11.2014 – RIA Novosti

Asprey, New Bond Street

Sunday Telegraph 25 August 2013

New West End Company together A second announcement was with Westminster City Council made a year later following a THIS PROVED and Transport for London major conference with Bond Street TO BE A revealed its multi-million Bond businesses. It outlined a detailed POWERFUL Street development plan to the development programme and the press in October 2013. The news news launched exclusively with TALKING POINT raised the international profile The Times and other WHEN STARTING of the street, filling significant national business media. 14.11.14 – The Times page space both nationally and CONVERSATIONS internationally. The coverage Finally, the Bond Street WITH (outlined on the adjacent page) Illuminations, sparked proved to be a powerful talking international media interest with STAKEHOLDERS point when starting conversations a strong focus on the heritage AND PARTNERS. with stakeholders and partners. inspired scheme.

Sunday Telegraph 25.08.13 - Sunday Telegraph 25 August 2013

12-13 MAKING TAX FREE Until then, a series of interim Stag head decanter and SHOPPING EASIER FOR measures are being explored in crystal tumbler, INTERNATIONAL VISITORS the West End to make Tax Free Asprey shopping easier. They include ATTRACTING MORE New West End Company is more terminals in the West End, pushing for an easier system which will allow shoppers to of Tax Free shopping for receive their tax refunds here, INTERNATIONAL SHOPPERS international visitors, especially and continue shopping. at the UK’s exit points. It was an active contributor to The Government’s consultation CREATING A ONE-STEP A SERIES process in 2013. VISA PROCESS FOR CHINESE OF INTERIM SHOPPERS One of the key points in the New MEASURES ARE West End Company’s case was Bond Street attracts some of the for a digital platform to replace BEING EXPLORED most discerning international the current paper-based system. luxury consumers to its stores. IN THE WEST END The Government agreed and has Research shows that the Chinese TO MAKE TAX favoured this option with work currently top its retail spending now underway to plan the FREE SHOPPING charts. However, more can still new system. be done to increase the level of EASIER. Chinese visitor numbers as seen in other European capitals. RESEARCH SHOWS THAT THE CHINESE CURRENTLY TOP ITS RETAIL SPENDING CHARTS. International Shoppers on Bond Street The British government has been very clear that the UK will UKCVA event, in 2013 and In 2014, two years after UKCVA not join the Schengen visa zone attended by The Home Secretary started campaigning, the UK and insists that it will retain its Teresa May. It recommends issued 293,000 visitor visas existing biometric visa. This is sharing paperwork so that visitors in China. why New West End Company, only have to fill in one form to was a founding member of UK apply for both visas and secondly, China Visa Alliance (UKCVA) a allowing them to apply for both a business-led consortium, working UK and Schengen visa at a UK to improve the visa application Visa Application Centre. process in China for visitors wanting to shop in London. As a result, The Government has accepted UKCVA’s arguments and UKCVA believes that the most its recommendations for improving effective way to encourage higher the visa application system. It is in numbers of Chinese visitors to advanced talks with one Schengen the UK is by streamlining the country to agree a pilot for sharing application process for both UK Visa Application Centres. and Schengen visas. This would then enable them to include the When UKCVA started its work in UK on their European travels. 2012, Visit Britain reported that in 2011 the UK welcomed 130,000 This proposal was outlined in Chinese visitors and predicted that a report, which launched at a this would rise to 290,000 by 2020. Piaget watch Old Bond Street

14-15 The Bond Street Management Group was established in April 2013 and is chaired by Paul Dimond. Following the formation of the Bond Street BOND STREET Management Group, two further boards have been appointed. The first is the Strategic Board chaired by Sir Peter Rogers, New West End Company Chairman. The role of this board is to steer the strategy for the Development MANAGEMENT GROUP Plan and approve the design, costs and programme. The second is the Project Board. The role of this board is to produce the design, cost plan and the programme. It will also implement the project, which is also being supported by London First as one of the three major projects they support in the West End in the immediate future. New West End Company will involve Bond Street businesses in the plans throughout, and will seek your ideas and CHAIR guidance to help form the delivery of key projects.

Paul Dimond CBE, Chairman, Bond Street Management Group, and Deputy Chairman, DAKS Simpson Group plc. MANAGING DIRECTOR PARTNERS Beverley Aspinall Bond Street Management Group

Westminster City Transport Mayor Council for London of London NEW RICHARD CHANEL GREAT WEST END GREEN PORTLAND COMPANY GALLERY ESTATES VisitBritain GREAT Britain London & Partners Jace Tyrrell RALPH LOUIS ROYAL Deputy Chief LAUREN VUITTON LONDON Executive

Steven Medway PATEK TIFFANY LANCER Walpole London Luxury London First Managing PHILIPPE & CO Quarter Director of Trading Environment FENWICK BONHAMS GROSVENOR

BURBERRY ASPREY THE CROWN ESTATE KEY STAKEHOLDERS

Bond Street Regent Street Mount Street Association Association Association

Heart of London Savile Row Bespoke Mayfair Business Alliance Neighbourhood Forum BOND STREET DIRECTORY

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NEW WEST END COMPANY 020 7462 0680 Morley House 320 Regent Street London W1B 3BE newwestend.com

STRATEGY AND DEVELOPMENT Richard Dickinson Chief Executive New West End Company [email protected]

BOND STREET DEVELOPMENT PLAN Beverley Aspinall Managing Director Bond Street Management Group [email protected]

MARKETING AND EXTERNAL AFFAIRS Jace Tyrrell Deputy Chief Executive New West End Company [email protected]

STREET MANAGEMENT AND SHOPPER SERVICES Steven Medway Managing Director of Trading Environment [email protected]