Fashion retailer Tom Tailor to open five more shops
THE INTERNATIONAL fashion retailer Tom Tailor is to open five more stores in the Republic before Christmas.
Specialising in mid-priced casual wear for men, women and children, the new joint venture company owned equally by the German parent and Dublin businessman Kevin Melia, has agreed rental terms on new outlets at Blanchardstown Town Centre, The Marshes in Dundalk and two units at Athlone Town Centre.
This will bring the number of shops here to nine, including two in Belfast. There are others in Limerick, Sligo and a concession in Shaw’s in Carlow.
Tom Tailor’s strategy has been to avail of the weak rental market to negotiate high profile stores. Cian McMorrow of agent Bannon says the company plans to open six further outlets next year provided they can secure favourable rental terms.
The letting terms on the 135sq m (1,460sq ft) Blanchardstown shop is believed to provide for a basic rent of €165,000 or about 13 per cent of turnover, whichever is the greater. HWBC and Jones Lang LaSalle represented the landlord, Green Property Company.
Agent BTW Shiells negotiated an all-in rent of €80,000 on the Dundalk store which has 152sq m (1,644sq ft) in the main mall and 86sq m (928sq ft) at mezzanine level.
Two separate shops of 210sq m (2,263sq ft) and 150sq m (1,619sq ft) in Athlone Town Centre are to be leased to Tom Tailor at an overall rent believed to be in the region of €80,000. Bannon was the letting agent.
Tom Tailor had sales of over €300 million in 2009. It operates 96 of its own stores and has 205 franchise outlets and 1,240 shops-in-shops and E-shops.