Victoria’s Secret, Abercrombie & Fitch, Gap, Mothercare, Debenhams, J.C. Penney, even Tesla. What do these companies have in common? They’ve all closed major stores this year.
It's not exactly front-page news that brands have gone with the times as of late, closing physical stores in favour of pumping their funds into their online shopping empires. In fact, research by PwC shows that more than 1,200 stores shut on Britain's top 500 high streets in the first half of 2019 alone.
No one has questioned the growing popularity of online shopping because the answer is so simple: we can't be bothered to make award small talk with sales assistants or deal with bustling shoppers.
It seems Xupes didn't get that memo, though. Or did, and decided to scrunch it up and throw it in the bin. To celebrate its tenth anniversary, the luxury retail site has opened its first-ever physical space slap bang in the City, operating from the Royal Exchange.
Bold move? Perhaps. Illogical move? Not according to its founder and CEO, Joe McKenzie.
This site brings Xupes closer to our London clients so we can showcase our expertise and service to potential customers
“We know that for luxury pre-owned retail, there is a huge element of trust that needs to be built up between the client and the retailer. Our clients care about the provenance of the items they buy, they want assurance that their desired products will be well-curated and serviced and they want a warranty," he says.
"At Xupes, we inspect and service every item we sell; we offer an industry-leading 2-year guarantee for watches and we have a 30-day return policy so consumers know when they buy from Xupes they can trust us to supply leading levels of quality on hard to find and desirable pre-owned items.
Getting that message across is a challenge for all online business, even those with our 10 years of experience. This retail site brings the Xupes brand closer to our clients in London where we can showcase our fabulous products, expertise and service to a wider range of potential customers."
Well, we're convinced. Closures don't necessarily mean failures for all brands – only time will tell if openings mean success for Xupes.
The new Xupes store is now open, for more information visit xupes.com