29 April 2024
The Weekly

Beauty is booming and so is Space NK, which is set to add seven more stores to its U.K. retail portfolio this year, enrich its service offer and become a leader in fragrance. Sales at the retailer owned by Manzanita Capital have been increasing by 30% annually for three years, and growing two-and-a-half times faster than the U.K. prestige premium market. The London new store, at 6-7 Neal Street, will open in July and span 3,152sq ft (290m2), up from the current 2,000sq ft (180m2). It will offer a wider array of brands, a dedicated treatment room and larger spaces for the names it already carries.


Space NK proposes a broad and curated offer of products that range in price from £6 to £600, and the tight relationship between the sales assistants and customers.

Space NK, which has 74 stores across the U.K., has been investing heavily in rolling out stores. In addition to Covent Garden, Space NK is also planning to open two stores in Manchester, at Trafford Centre and Arndale Centre. It will also open at the Westquay Shopping Centre in Southampton, and in Dundrum town center, near Dublin. The competition on the beauty market is ferocious. In May, Sephora will open its third U.K. location at Trafford Centre in Manchester, having landed in the market last year with a 6,000sq ft (540m2) unit at Westfield White City in London. Harrods’ stand-alone beauty concept H Beauty has five locations across the country, while Boots continues to build up its beauty offer. Online players Beauty Bay and Cult Beauty continue to pose a threat to physical and omnichannel players, offering slick websites with an editorial feel.