Westfield Group has announced a multimillion investment in the expansion of The Village, luxury shopping area at Westfield London.
Keith Mabbett, Director of Leasing, from Westfield, commented, “Westfield London is rated the number one shopping centre in the UK and is in the top five tourist shopping destinations in London. The Village was the first luxury offer inside a shopping centre in the UK and has proved popular, attracting over 100m visitors since opening in 2008.'
The desire for luxury has never been stronger among shoppers in London; with global luxury spend growing 7% in 2014 and representing annual sales of £10.1bn in the market of personal luxury goods in London alone.
The sharp rise in demand among tourists for premium items has also contributed to this increase and luxury will continue to grow, with an expected sales increase of 10.75% in the UK by 2018.
Cafe Concerto has relocated to a larger space creating an exciting new dining concept in The Village and this month Georg Jenson opens a new store.
Improvements will continue throughout 2015 with further new stores to be announced later this year.