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Designer fashion brands to go West
Jonathan Prynn, Evening Standard29 Aug 2008
The developers of a huge shopping centre opening in Shepherd's Bush in October have surprised sceptics by signing up some of the world's biggest brands.
Australian shopping mall operator Westfield told the Standard that Prada, Miu Miu, Gucci, Dior, De Beers and Valentino had all signed leases on outlets at the colossal £1.7billion centre.
Until today the only top fashion names known to have committed to the mall were Louis Vuitton, Tiffany and Mulberry, and there had been widespread fears that Westfield would not be able to tempt enough big players to fulfil its aim to become "Bond Street in the Bush".
Some commentators said Westfield had found it hard to fill the zone dedicated to top brands, known as The Village, because the site is too close to areas such as Sloane Square, Knightsbridge and Bond Street.
But Michael Gutman, Westfield's managing director in Britain, said the company was on track to fill the centre by the opening date of 30 October, despite the severe downturn on the high street.
He said: "We are particularly pleased with the excellent take up of space at Westfield London given the more difficult leasing environment.
"Being 96 per cent leased and 10 weeks out from opening to an excellent line-up of British and international brands is a great achievement."
Retail experts said the high level of occupancy was "amazing" in the current economic climate.
Tim Danaher, editor of Retail Week magazine, said: "No one expected them to be able to sign people of that calibre.
"The big losers will be places like Kensington High Street, possibly Knightbridge and Sloane Square to a degree, but definitely Oxford Street. It is only five stops away on the Central line."
Some commentators still question whether the big name brands will be enough to attract shoppers west of Holland Park.
"After all, it is still Shepherd's Bush at the end of the day," said one.
