A top fashion outlet in Liverpool ONE that opened in 2018 is to close within weeks, LBN has learned. Tony McDonough reports
Fashion outlet ARKET, which opened in Liverpool ONE in autumn 2018, is set to close its doors.
LBN has learned that ARKET, which is a subsidiary brand of European fashion chain H&M, will close for the final time “within a matter of weeks”. It is located at 91-92 Paradise Street occupying 8,600 sq ft.
Another H&M offshoot, Cos, is located in College Lane in Liverpool ONE. H&M’s main store in the city is in Lord Street in the former British Home Stores building.
ARKET announced the launch of the Liverpool store in spring 2018 and it opened its doors in autumn of the same year. It took the brand’s UK store count to five. It began in August 2017 on London’s Regent Street.
Speaking at the time ARKET managing director Lars Axelsson said: “We entered the UK with two great central locations in London last autumn, followed by an opening in east London earlier this year. Liverpool ONE is an innovative and inspiring shopping destination.”
E-commerce has made life tougher for fashion retailers more than most as online outlets such as ASOS have aggressively captured market share, putting pressure on high street chains. The collapse of Topshop owner Arcadia was one of the biggest indicators of how the market is evolving.
LBN has contacted both ARKET and Liverpool ONE for comment.
While the closure will be a setback for Liverpool ONE, owner Grosvenor has an impressive track record in recent times for quickly finding tenants for vacant space.
In May 2021 it was dealt a huge blow when the Debenhams department store closed for the final time. There was a question mark over who could fill the 180,000 sq ft space. When Liverpool ONE opened in 2008 Debenhams was joint anchor tenant along with John Lewis.
However, Grosvenor has acted swiftly to repurpose the space. It will be home to a £10m leisure venue called gravity which will include a go-kart track. And in a major coup, Marks & Spencer will leave its Church Street home this year to occupy 100,000 sq ft of the building later this year.
Liverpool ONE enjoyed a successful 2022 for lettings. It announced the debut of footwear retailer size? and also secured lettings with D Group brand Tessuti, Inditex owned brand Stradivarius, and luxury footwear retailer Kick Game.
In November it was revealed that iconic high-end Liverpool fashion retailer Cricket Fashion would be opening a 21,000 sq ft flagship store in Liverpool ONE.