Whilst most may already be looking forward to another year, we cast our attention for a moment back to the end of 2014, which saw British retailer Selfridges named “Luxury Retailer of the Year” by Luxury Daily. As the hub of luxury shopping, it’s perhaps unsurprising that one of the capital’s finest decadent department stores should scoop up the accolade, where close runners up Saks Fifth Avenue and Net-a-Porter narrowly missed out on the top spot.
Although the award is based on “luxury marketing efforts with impeccable strategy, tactics, creative, executive and results,” according to Luxury Daily, visitors to Selfridges, especially over the busy Christmas period, will have noted a significant overhaul in the way the department store conducts its business. Starting with a relaunch of its online store back in October, as well as a reshuffling of its luxury menswear offerings (including the additions of boutiques by brands such as Givenchy, Lanvin and Rik Owens), Selfridges has ensured it has stayed one step ahead of the competition. And of course, who could forget this winter’s stunning window displays inspired by reinterpretations of classic fairy tales?
Selfridges remains the UK’s premium online store with the highest traffic despite the fierce London market and, with over a million visitors to its site each week, it’s a staggering 30% up on its closest competitor. Whilst Saks stunned visitors with a live-stream of its holiday window unveiling, complete with an LED and light show display, Selfridges has quietly crept up to claim the prize as “Luxury Retailer of the Year,” recording record-breaking sales and profits in the process. As another year dawns, we’re in anticipation of what luxury innovations our favourite London department store is set to offer us for 2015.