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London's summer sales are starting early this year amid warnings the economy is a long way from recovery.
Some of the capital's biggest department stores, including Selfridges and Liberty, are offering customers huge savings on designer goods.
The bargain events are targeting shoppers buoyed by reports of green shoots before further predicted rises in unemployement.
Selfridges opened its sale today, a week earlier than usual, featuring price cuts of up to 75 per cent.
Certain items are reduced even more, such as a Lulu Guinness bedspread down by more than 85 per cent, from £1,800 to £250.
An Alexander McQueen crystal print dress is reduced from £2,550 to £638, while a Hugo Boss men's linen suit is being sold at £95 from £405.
Shoppers are also expected to snap up the last of the limited edition Marc Jacobs at Waterford range, which includes wine glasses down from £40 to £20.
Fifty people were queuing outside the doors to the Gucci and Louis Vuitton concessions at 8am, half an hour before they opened. The rest of the Oxford Street store opened at 9am.
The Liberty 50 per cent summer sale started on Monday, featuring discounts on items across clothing and homeware. Previously it has begun in July.
Selfridges and Liberty insisted they did not bring their sales forward because of the recession but instead in response to designers bringing out pre-autumn collections in June.
A spokeswoman for Liberty, in Great Marlborough Street, said: "This isn't about the recession, we've had a really successful run since February, with sales up 12 per cent.
"The move is driven by designers who are producing more collections each year which bridge the seasons. We therefore need to shift old stock more quickly to keep our store looking fresh."
Selfridges' spokeswoman said: "The sale is slightly earlier because we've had new pre-season stock in store for four weeks and need to make space."
Other West End stores starting their sales this week include Aquascutum, Banana Republic, Browns, Gap, Gerry Weber and House of Fraser. Next week sees Fenwick, Habitat, Hackett and HMV launch their summer discounts.
Experts said price cuts would not be as deep as at Christmas because buyers have not ordered as much stock.
There are also fears that the end of Alistair Darling's VAT discount on 1January could hit retailers again just as the economy emerges from recession.
Some analysts even say the Chancellor could be forced to lift the VAT rate higher than 17.5 per cent.
Bargains in store
Sales are on this week at Selfridges, Liberty, Browns, Aquascutum, Banana Republic, Gap, Gerry Weber and House of Fraser and next week at Fenwick, Habitat, Hackett and HMV.
Bargains at Selfridges include wine glasses in the Marc Jacobs at Waterford range down from £40 to £20.
A Lulu Guinness bedspread is down from £1,800 to just £250.
Also on offer is an Alexander McQueen crystal print dress, down from £2,550 to £638.
Reader views (2)
Oh well that does it where the swine flu contamination is concerned since I doubt whether Top Shop closed its doors. Can see the customers totally disregarded the news.
Since the drugs are already in short supply its obviously time for face masks that would need to be saturated in some antiseptic to last for a few hours!!
- Tony Islander, Herts, 18/06/2009 19:44
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SHEEPLE.
RIP-OFF UK.
- Reuben Camara, Morecambe UK, 18/06/2009 18:19
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