Outdoor sports and recreation retailer Cotswold Outdoor is to open a new triple-brand store with sister labels Runners Need and Snow + Rock at the Merry Hill mall in Dudley, West Midlands.
The UK-owned brand is to open an 8,000 sq ft unit on the shopping centre’s upper level later this month.
The new space will cater to “all clothing, footwear, and accessory needs for activities including walking, running, and in the winter months, snowsports”.
Andy Dopson, head of Retail at Cotswold Outdoor, said: “With over 50 years’ experience under our belt, our mission has always been to help people enjoy the outdoors. With its diverse breadth of retailers, extensive catchment, and super regional position in the West Midlands, Merry Hill is the ideal spot for our next store, providing our loyal community with even easier access and introducing our brand to a whole new audience.”
The new store will open close to Meryyhill’s leisure quarter, “benefitting from its increased footfall and transformed atmosphere, following £12 million investment and the introduction of a host of new operators”, operator Sovereign Centros/CBRE said.
Its senior asset manager Nick Round added: “Merry Hill’s transformation is set to continue with the addition of Cotswold Outdoor, enlivening the upper mall even further and benefitting from the newly transformed leisure quarter. As a super regional centre and flagship for the entire region, securing operators that offer something different is paramount.”
Cotswold Outdoor joins other recent arrivals including luxury jeweller, Beaverbrooks and premium womenswear brands Phase Eight and Hobbs, which were brought together into the same space from separate units.
Real estate services firm Cushman & Wakefield has published a study analysing data from over 2,000 rental transactions carried out in Europe in 2024. The study charts the evolution of the commercial real estate sector in the continent, where retail rents posted an overall increase compared to the previous year. The phenomenon was notable especially in retail parks, which reached record rental levels, and in the prime commercial high streets of Europe’s major cities, a thriving landscape for leading fashion labels. Prime high street rents recorded “strong growth on 44% of the 209 streets analysed – as opposed to 30% at the end of 2022 and 35% at the end of 2023 – while rents were stable on 53% of them,” stated the study.
The Champs-Elysées in Paris – Adam McCullough / Shutterstock.com
The highest increases were recorded on luxury shopping streets, due to “sustained demand and low vacancy rates. Italy stood out for its rent rises, as did commercial high streets in Hungary and Poland, which performed strongly.”
Rental fees on the Champs-Elysées in Paris also increased, after many international brands, notably sportswear ones, established a presence there on the eve of the 2024 Olympic Games. “Since space on the Champs-Elysées cannot be increased, rising demand has had an effect on the rental costs of smaller premises, a phenomenon that is replicated on the Parisian high streets most sought-after by retailers,” said Christian Dubois, head of retail France at Cushman & Wakefield.
In 2024, the number of commercial real estate transactions in Europe was on par with the previous year. There was “a predominance [of transactions for] premises under 600 square metres in almost all business segments, which accounted for 84% of transactions and 22% of rented space in 2024.”
Leisure sector transactions up 15%
Transactions for the leisure sector (climbing walls, VR hubs, music venues etc.) posted an above-average rise in 2024. While the fashion sector topped the ranking in terms of number of contracts signed (accounting for one third of transactions and 39% of rented space), the leisure sector boomed, recording a 15% annual increase in transactions and a 20% increase in commercial area leased compared to 2023.
The leisure sector has an appetite for large premises, and now accounts for 9% of the total commercial real estate area rented in Europe. “Leisure operators have successfully taken advantage of the space freed up by department stores, for example the former Debenhams building in Westfield London, most of which was taken over by Capital Theatre to transform it into a 620-seat auditorium,” stated the report.
At a time when rental costs are driven up by consumer caution and geopolitical uncertainty, brands are focusing their real estate strategy on “ways to maximise revenue while optimising costs.” They are therefore prioritising flagships, opting for quality over quantity. “We are also seeing a significant acceleration in cross-border activity as retailers look for growth in new markets, deploying store opening strategies often focused on individual cities rather than a country as a whole,” said Robert Travers, head of EMEA retail at Cushman & Wakefield.
Looking to 2025, the main element to monitor is the impact of international trade policy on commercial real estate, and therefore whether brands will be seeking new retail space or not. “These disruptive effects will not be felt as quickly as on the stock market, and they are unlikely to apply uniformly, but the new [trade] policies have added complexity and higher costs to the retail supply chain,” said Travers.
Gloucester Quays shopping centre has continued to record a “bumper period of sales”, driving sales growth up 6% in the last financial year covering April 2024 to March 2025, its operator Peel Retail & Leisure said.
Although the latest rise failed to match the previous record increase of 11%, the single-digit gain is still noteworthy up against tough year-on-year comparisons.
It also said brands that invested in new store fits and renewed leases “in particular benefitted from growth”, highlighting the performances of Skechers and Mountain Warehouse.
The latest figures also showed “consistent performance and sustained growth at the outlet” with retail sales from current tenants up by 5%.
Paul Carter, asset director at Peel Retail & Leisure, said: “Gloucester Quays has driven sustained growth year-on-year, a legacy that reinforces our long-standing commitment to providing a best-in-class experience.
“We are continuing to adapt to evolving consumer demand for lifestyle-led spaces, something we are uniquely able to deliver as a destination that crosses between both city centre convenience and aspirational outlet. With recently reinvested brands topping the books for growth alongside our new additions, the success of our tried and tested strategy for delivering this speaks for itself.”
He noted that Gloucester Quays has welcomed “a host of renewals since the beginning of 2025” with eight tenants recommitting to the destination this year, including Trespass, Puma, Adidas, and The North Face.
“Challenger Istanbulian fine-jeweller” Kismet by Milka has opened a statement flagship store on London’s luxury New Bond Street.
With the expansion “mark[ing] a significant milestone in the brand’s journey to bring their authentic designs to even more people globally”, it joins 17 stores globally and over 100 points of sale, including Neiman Marcus, 24S, El Corte Inglés, with the latest expansion “ensuring [our] presence in one of the world’s fashion capitals”.
The new store spans 1,500 sq ft across two floors, featuring Turkish-designed and fashioned fine jewellery alongside two luxury piercing studios. The latter claims to be “the first and only piercing studio driven by experienced piercers on New Bond Street, reinforcing Kismet by Milka’s expertise in blending earring and luxury piercing with fine jewellery”.
The brand was founded in 2009 by designer Milka Karaağaçlı İnce and she said: “To stand here today [on Bond Street], in the city where I took my first steps as a designer, isn’t just an achievement… it’s proof of what happens when challengers dare to believe.”
Entertainment8 years ago