THREE MORE overseas retailers are planning to open new stores in Dublin, despite the fall-off in consumer spending and the slowdown in retail lettings.
Britain’s famous toy store Hamleys will be the best known of the new arrivals with plans to open a large store at Dundrum Town Centre in October. It will be paying a rent of €1 million for 3,250sq m (35,000sq ft) over three levels.
Another new name at Dundrum will be Gant, a global fashion brand for men and women that was founded in the US in 1949. Men’s fashion retailer Copeland will have the franchise for the Gant brand, which is defined as modern sportswear that is in line with fashion trends while remaining classic.
The company will trade from 529sq m (5,700sq ft) over two floors close to the Harvey Nichols store. The rent will be around €350,000 per annum.
Dundrum’s continuing success in attracting high profile international traders will be a source of satisfaction for owners Castlethorn Construction before they embark on the redevelopment of the old Dundrum shopping centre and substantially increase the overall volume of retail space. Bannon is the letting agent for Dundrum.
Meanwhile the US parent company of TK Maxx, the discount clothing retailer, is actively looking for suitable sites in the main cities and towns for its new homeware stores division.
Five HomeSense homewares stores have been quietly opened across the UK over the past month by TJX Europe, the European subsidiary of TK Maxx.
The stores sell branded homeware items – from pots and pans to plates and cushions at up to 60 per cent below their recommended retail price.
Jason Miller of Colliers Jackson-Stops said the new enterprise was looking for suitable locations in retail parks in the Republic where they would trade out of 1,393sq m (15,000sq ft) over one or two levels.
TK Maxx is trading strongly out of six stores in the Republic.
The HomeSense stores are based on the same concept as TK Maxx – selling well known brand names at cheap prices. HomeSense will take delivery every day of new and different products, meaning that shoppers will not know exactly what they will find until they visit the stores.
Despite the discount model, around 80 per cent of the stock is guaranteed to be from the present season. The stores will stock an average of 33,000 items.
HomeSense will be in direct competition with Dunnes Stores, who have shaken up the market in recent years with cut-price offerings. Woodies DIY and Heatons are big players in this market which has also grown substantially in recent years.
