Women’s fashion retailer Select is plotting to open 200 new stores over the next five years, as it seeks to capitalise on a soft retail property market.
It has hired the property firm Cushman & Wakefield to find shops of up to 4,000 square feet, with a particular focus on the south, south east and London.
Select, which has an average selling price of £7.35, is aiming to attract fashion-conscious shoppers whose finances are under pressure. Its expansion plans come at a time when many retailers are trimming their store estate and nearly one in seven shops is vacant in town centres across the UK.
James Merrett, the partner in Cushman & Wakefield’s retail team, said: “Select has an ambitious plan to expand and is looking to open around 40 stores per year over the next 5 years. Select’s acquisition programme is very exciting especially in the backdrop of challenging market conditions.”
Cafer Mahiroglu, Select’s chief executive, previously said its like-for-like sales jumped by 13% over Christmas.
