Luxury in Leeds is on the up! Hegemonic Enterprises comment on how the changing city is making space for high-end brands.
The luxury fashion firm Ralph Lauren has revealed plans to open its first store in Leeds city centre. The luxury brand will join a series of top designer labels and high-end restaurants all choosing to locate in the Victoria Leeds shopping quarter in the city centre. Sales and event marketing firm, Hegemonic Enterprises are not surprised at the decision of these luxury brands to locate in Leeds. As a firm who endeavours to stay ahead of consumer changes, Hegemonic Enterprises are unsurprised that consumer taste in Leeds has evolved.
The team of brand ambassadors working alongside Hegemonic Enterprises are ready and up to speed with the latest trends in purchasing behaviours. From their daily market interaction, the firm cites this evolution in consumer behaviour in Leeds to the process of gentrification that has been happening within the city over recent years.
As the fastest growing city in England, Leeds has enjoyed a wealth of economic success and observed a boom in the city’s retail and property sectors. The shift in consumer taste due to the city’s gentrification has resulted in a demand from premium brands to have high-quality retail space in the city centre so they can serve the needs of the changing consumer type. Luxury brands such as Ralph Lauren are seeking out such areas because the process of gentrification sees more affluent consumers move into the city, with a higher disposable income to spend.
‘Consumer desires are ever-changing, so it is up to businesses to help create, and react to changing needs in an equilibrium that serves all consumer types’ said a spokesperson for Hegemonic Enterprises. ‘It’s great for the economy of Leeds to see luxury brands looking to locate here, and the changing consumer type needs to have brands that meet their needs. As long as the needs of all consumer types are met, through a variety of brands, then making Leeds more luxurious is only going to serve as a benefit’ added the spokesperson.
There are fears by some that existing independent, small traders are losing out to the big hitters that are taking up the high street real estate. The worry is that expensive rents and price hikes that have been driven up by gentrification will isolate some of the city’s population, but Hegemonic Enterprises are confident that Leeds as a city is going in the right direction.