Selfridges' £300 million expansion
To become the world's largest accessories destination
The luxury retail giant said it is aiming to create "the world's largest and most comprehensive destination" for accessories. The five-year project will see the handbag department more than double in size to encompass 50,000 square feet and will feature both luxury and high-street brands for men and women. Work on the Oxford Street site will begin next month in what it describes as the largest ever investment made by a department store on a single project.
A slice of the investment has been earmarked for new offices and facilities to be built on a nearby street, freeing up retail space, and a new entrance will be built on Duke Street. The project will impact the store beyond accessories, with shifts in departments taking place within the first three levels.
Canadian billionaire Galen Weston, Selfridges Chairman, said, "This significant investment in the redevelopment of our Oxford Street store is part of our commitment across all our businesses to provide leading luxury shopping experiences for our customers around the world."