According to a Hillier Parker survey, London will have more designer floorspace in 1998 than Paris, Milan or Los Angeles. Ralph Lauren, who is to open a new store in Bond Street in 1998 is paying an annual lease of pounds 2.5m, a London record.
Paul Smith and Ghost have acquired sites in W11, fuelling retailers' hopes of a Kings Road-style revival in Notting Hill.
Marks & Spencer announced plans to create 1,700 new jobs after if broke through the pounds 1bn pre-tax profit barrier. New stores are planned for London's Covent Garden and Bristol this year.
Sources: the Independent, the Guardian, the Daily Telegraph, Draper's RecordReuse content