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TK Maxx ‘not posh enough' for West End
Jonathan Prynn24.04.09
High street discount store TK Maxx has been prevented from opening a flagship in the heart of the West End because it would clash with plans to smarten up the area.
The US-owned chain's bid to occupy a high profile vacant site at Piccadilly Circus ran into objection from the Crown Estate, which manages the Queen's historic property portfolio.
The retailer specialises in selling "last season's" designer clothes from names such as Stella McCartney and Alexander McQueen at up to 60 per cent discount.
It has carved out a reputation as a designer version of Primark that can appeal equally to rich and poor. A Kensington High Street branch that opened last summer has attracted a loyal following, including Prince William's girlfriend Kate Middleton.
It signed a deal in February with leaseholder Golfrate on the 20,000 sq ft unit, once occupied by Virgin Megastore, on which the rent was £1.55million a year. But this was dependent on approval from the Crown Estate, which owned the freehold, situated yards from the Eros statue.
Industry sources quoted by Retail Week magazine said TK Maxx did not match the Crown Estate's vision for smartening up the area around Piccadilly Circus and the lower end of Regent Street. The Crown Estate is investing more than £500million to transform Regent Street into one of London's smartest boulevards and is known to be highly protective of its "brand". The street once best known for tatty Scottish knitwear shops now boasts a line-up of international brands including the Apple Store, Banana Republic and Ferrari, and the former Café Royal is being turned into a six-star hotel.
The source said TK Maxx was perceived as little more than "a market stall" that would jar with well-heeled tourists. A Crown Estate spokeswoman would only say: "We have a strategy for the area that we have discussed with the head lessee."
TK Maxx, which describes itself as "the largest off-price retailer in the world", is one of Britain's fastest growing chains and has expanded spectacularly during the downturn. It also has outlets in Hammersmith and Clapham.
It is now locked in a legal battle with the Crown Estate but it appears its first West End outlet will not go ahead. TK Maxx vice president Deborah Dolce said: "TK Maxx is a very well-loved brand and unique concept. We think it's a shame shoppers won't have a chance to shop there. We are consistently voted one of Britain's best-loved retailers."
The Regent Street site next to the Criterion Theatre has been empty for four years since Virgin moved to a nearby location. Before that it was a Japanese department store called Sogo.
Reader views (32)
Personally I shop at tk maxx regularly and I think in this time of recissin tk maxx is doing very well for people who love desigber brand. Because of this all other competitors are not doin so good may be that's why they are threating to council that they will withdraw their lease from that area than It will plenty of shop empty which they can rent it to tk maxx. Which is not fair !!
- Shaikh, hayes
Our local TK Maxx is known as 'Harrods of Salisbury' because they have such amazing designer bargains. This kind of shop draws a vast array of customers and
would very well in picaddilly.
- Jo Md, Salisbury
You have a true case here. In Paris on the Champs Elysée you now have Mango, McDonalds etc...the Champs Elysée will indeed soon no longer be the Champs Elysée. But maybe that's life !
- Terry. B, Toulouse, France
this is good and bad. sorry does PRIMARK across from selfridges not look equally cheap? if your going to complain get rid of primark then talk about places being too cheap.
- Jen, london
Having a Tkmaxx in Piccadilly would persuade me to visit central London more often as I love their stores. By the way, Tkmaxx in Kingston is not full of chavs.
- James, Surrey
only a very stupid person will buy a white cotton or linen shirt /blouse at £100.00 not to say £200. and by the look of it, there are lots of them in this country. don't they go on holiday , can't they buy the same thing for the equivalent of £10.00 ?
- Beljamine, uk
So the Crown Estate does not mind the other former Virgin/Zavvi store across the road from this site currently being yet another giant London souvenir tat seller. Being a normal i.e. not rich office worker in central London I would appreciate another affordable retailer in the area.
- Demi, SE London
Well it isn't, is it...??? It's a down-market, cut-price clothes warehouse for sink-estate slobs...!!!
- Joanna Jay, Walton on Thames
I use the TK Maxx store in Kingston and it's a lot better than many of the stores in the P. Circus area. Surely any possiblity of creating new jobs, in a store offering good quality merchandise at reasonable prices for most people, is to be encouraged. Perhaps the Crown Estates are being a bit too precious about their properties - I wonder how they'll feel when more of the outlets are closed as the Recession bites harder over the next 12 months?
- Richard Robbins, Kingston-upon-Thames
I just don't get the Crown decision. I never perceived TK Maxx as very cheap. Yes it's an outlet but a good one and attract not only poor but rich and so in line with the Crown to smarten the area. Where is the conflict then? On the other side, does the Crown know the recession that UK is going through? Decisions like this increase the unemployment rate in a time where we all need everything to survive! TK Maxx will not be able to employ the people for the store, and at the same time the Landlord might have more trouble in the current more than challenging period!
I hope that not only mine, but all the comments related to this are listened and open the eyes of whom took this decision. We all will smile if they rectify.
- Miri, London
Good thing too - who wants to shop at a jumble sale?
- Brianonthecam, Cambridge UK
Your got to be jokin. After what they did to Lilywhite in Piccadilly Circus I hardly think TK Maxx would do worst
- Rob Phee, Luton
For many Londoners a TK Maxx would be a useful, much visited shop. So many of the shops on Regent Street are just silly temples to brands that appeal only to tourists (National Geographic shop anyone???, Ferrari???) without much in the way of merchandise. I know The Crown have worked hard to put Regent Street on the map once again, but surely they are being too snobby - a TK Maxx would become a destination shop and revitalise the footfall (as Primark has done to the Western end of Oxford Street) of people who actually shop rather than take photos of Picadilly Circus.
- Ktb, A Local, London
I agree, "Is this a joke? Has anyone from The Crown been to Oxford Street lately?" or anywhere around Picadilly? I love TK Maxx, and its so much better than most of the cheap bad taste shops or souvenir boxes we find around that area. How can Primark or Lillywhites..be ok and not last season designer clothes at a decent price? Finally, there would be a useful store in that space!
- Jeannie Remy, france
On the Crown Estates website it states, We have two main objectives: to benefit the taxpayer by paying the revenue from our assets directly to the Treasury; and to enhance the value of the estate and the income it generates. If Crown Estates management objects to TK Maxx on that site they are failing in there duty to the tax payer, and should be relieved of their duties, after all the country needs the cash at the moment.
As for TK Maxx one of my favourite stores.
- Lloyd, Glan Conwy
I think it would be perfect. There is a small but dense radius of offices around that property filled with TK Maxx's target audience. It will be the first time there would be a useful store in that space! It would certainly give people a reason to walk down to Tottenham Court Road from Oxford Circus. It has the potential of making that area worth going to!
- Natalie, London
Is this a joke? Has anyone from The Crown been to Oxford Street lately?
- Jessica, South London
All I can say is the more shops the better in this climate and somebody wants to open a store - we should all support it!
- Lorna Evans, Monmouth UK
Its amazing to me that a popular retailer who sells to normal people is being treated so shabbily by the British establishment which would rather see a prominent store stand empty than allow TK Maxx to create new jobs for Londoners. In these recessionary times aren't we being encouraged to be thrifty by the Government so where better for Londoners and visitors to spend their hard earned cash. Give me TK Maxx over Louis Vuitton any day.
- John, London
Down at heal? Are we not forgetting that Lillywhites aka Sportsworld aka Chav central is next door?!
- Hugh Jass, London
At a time where unemployment is rising I can't believe the crown are blocking the chance to create much needed jobs!! Probably too busy having cucumber sandwiches and drinking tea around at the Palace to notice or care about the state of the economy!
- Mr Big, london
Kate Middleton? Sweeeeet. So items of clothing for less than a quid in Lily Whites is fine but TK Maxx selling last seasons designer brands is not? Where is the logic? Basically I'm with Mr Average... who has hit the nail on the head. Well done sir, kind sir.
- Distinctly Average, Towelsville Tennessee
Many of your correspondents seem to be confusing Oxford Street and Piccadilly Circus, which is where the premises are located. However, I believe that the Crown Estate's position with regard to TK Maxx is hypocritical given that the store is currently let as a "London Souvenir Shop" - hardly calculated to entice well-heeled shoppers or indeed anything other than tourists after some tat.
- Blue Baby, London
Unbelievable, the place has been empty for 4 years, no wonder, if thats the Crown's attitude - T.K.Maxx would be perfect surley - top quality fashion labels at discount prices, exactly what everybody wants in these current times
- Mr Average, London
I generally hate shopping but this is a real shame as TK Maxx is simply the best!
- Goggs, London
Quite Right!
- Vince, London, West London
It really means that they don't want the type of people who shop at TK in their posh street however their having a laugh the last time I walked along Oxford St there was a distinct smell of urine on the breeze.
- Mike M, Bedford England
I think TKMaxx is well shot of the westend.Trying to open so near Soho and near always empty aircooled cathedrals whose staff pretend to be so posh and are full of kak therefore better than the customer,indeed,would soon bring down its reputation.Can somebody please tell me what kind of tat is 'Ferrari'shop going to sell anyway?
- Serafim, london
thats rich!!! some of the tacky shops around there!!!
- Mark, Sidcup
not so much TK Maxx bringing down the area, more the shoppers it tarkets !
- Joanna, london
Last time I was in Oxford Street, I was appalled by the quantity of cheap nasty tacky shops (particularly at the Tottenham Court Road end). Surely TK Maxx can only be an improvement!
- Marianne (Uk National And Tax-Payer), SW France
Snobbery and hypocricy rolled into one. So Oxford Street can host Ann Summers and Harmony sex shops, yet think TK-Maxx will bring down the tone of the place?
- Napoleon Blownaparte, London
