Exploring the bustling thoroughfares of London’s Old and New Bond Street during the peak of summer reveals intriguing tales and transformations.
You may have already read my recent reports about the Rolex boutique, managed by Watches of Switzerland, where an unfortunate incident left the storefront window punctured and the glass cracked from floor to ceiling.
Meanwhile, Patek Philippe has commenced a significant expansion of its boutique, marked by branded scaffolding appearing this week as renovations extend into a neighboring unit.
Scaffolding has become a canvas for brand advertising during retail redevelopments.
Notably, Burberry and Gucci adorned towering branded scaffolds at their respective construction sites on Bond Street. Burberry has completed its work, unveiling a spacious new store, while Gucci’s completion is imminent. Watches of Switzerland is set to transform Gucci’s former space at No.34 into a sprawling Rolex store and exhibition area.
I anticipate the unveiling of replica Rolex-branded scaffolding, signaling the start of a project expected to span up to a year in this historic property.
Impact of Tourism Dynamics
Observing the luxury shopping scene, a notable shift emerges amidst the typical influx of international tourists in Mayfair. Today, however, the streets were noticeably quieter with predominantly domestic visitors strolling the pavements at 11 am.
Normally bustling flagship stores like Dolce & Gabbana, Hermes, and Chanel, known for managing queues of Asian and Middle Eastern clientele, today catered to a quieter crowd devoid of the usual fervent shoppers. This subdued atmosphere reflects the impact of Rishi Sunak’s tourist tax.
Freddie Mercury Exhibition Draws Crowds
Amidst this subdued backdrop, one notable exception was the queue extending nearly 100 meters outside Sotheby’s auction house. The attraction? An exhibition showcasing Freddie Mercury’s personal possessions ahead of upcoming auctions from September 6 to 11. The collection spans art, fashion, musical instruments, personal papers, photographs, furniture, and jewels accumulated over five decades by the Queen singer.
Interestingly, among over 700 lots, only one watch stands out: a vintage ruby, sapphire, emerald, onyx, and diamond fob watch from around 1925, expected to fetch around £8,000.
Al Fresco Retail Innovation
Reflecting on retail innovations, an intriguing trend emerges at the Hermes flagship, where an exhibition highlighting their exquisite watchmaking was displayed. Journalists gathered on the outdoor terrace of the showroom’s first floor, enjoying pastries and sunshine while discussing Hermes’ latest offerings.
Earlier this month, I explored a growing trend in the United States towards al fresco retail among high-end watch brands, a concept initially challenging to implement in London’s crowded and expensive landscape. However, the Hermes terrace demonstrates that there are hidden gems throughout Mayfair where retailers can enhance customer experiences by embracing outdoor spaces.