News announces new retail concept in Mayfair is to expand its physical footprint with 5 Carlos Place, a completely new retail concept over six floors in the heart of Mayfair. The space combines digital and physical interaction to deliver a unique customer experience.

Tom Chapman, Executive Chairman of comments: ‘5 Carlos Place is an opportunity to bring a sense of fun and enjoyment back into physical retail, to collaborate with partners and have conversations that create a sense of community and inspire our customers. And the most exciting aspect is how we communicate this digitally with our global customer and include them in our many incredible projects while exposing new and emerging talent in one of the most important shopping destinations in the world.’

5 Carlos Place will be an evolution of three key customer touchpoints – the ‘In Residence’ events, the retail store, and the private shopping townhouse. By merging these three elements customers will have a physical experience but linked to the brand’s digital world.

The new concept reinforces the transformation of from a bricks & mortar retailer to a global luxury commerce business. Today 95% of its revenue is generated via digital and of that, 85% is outside the UK. In the year to January 2017 the company drove revenue of £204 million, with EBITDA of £19 million. Customer growth increased by 60% and average order values increased by 40% to £511.