What: John Edgards, the CEO of Fenwick, details his strategy  of moving out of London and to open new stores in regions.

Why it is important: European department store companies are increasingly facing a dilemma: either they become a destination shopping place but remain prisoners of the tourists flows, or they go to regions but then become more dependent on the financial health of local customers, who are subject to rising inflation.

Fenwick's CEO, John Edgar, criticized brands for aggressively raising prices while predicting the UK's emergence from its inflationary crisis.

He emphasized differentiating Fenwick through products and services instead of price, aiming to follow the successful models of Harrods and Selfridges. The company plans to invest in regional stores (only outside of London) and target 20% online sales.

Edgar also criticized the government's decision to axe VAT-free shopping for tourists, arguing it negatively impacts the retail industry.and called for its reconsideration, citing negative impacts on the retail industry.

According to Fenwick, there is room for only one department store outside of London