A DRINK WITH...

Tim Vallance

Tim Vallance is Retail Chairman and Head of Investor Services at JLL. Dom Millar caught up with him for a drink and a chat at The Tank and Paddle off London’s Regent Street.

Tim, good to see you.
What’ll you have to drink?

Do you think the retail sector is as bad as the media would have us believe?

Nothing is as bad as the papers would have us believe! Retail is facing many headwinds, but in 2018, £330bn was spent by consumers in retail. By 2026, this is projected to increase to almost £500bn due to population growth and inflation. Good retailers will take advantage of this significant growth both in store and online.

In 2018, £330bn was spent by consumers in retail. By 2026, this is projected to increase to almost £500bn

Can you name some retailers that you feel are doing a great job at getting the mix right?

There are many retailers getting it right including Uniqlo, Primark, Apple, Estée Lauder, Dunelm, Hotel Chocolat etc. But I’d say the best retailer in the world is Inditex.

With his eight brands, including Zara, Massimo Dutti and Oysho, Amancio Ortega is an embarrassing reminder to many other retailers that they simply aren’t up to it.

Can you name some retailers that you feel are doing a great job at getting the mix right?

There are many retailers getting it right including Uniqlo, Primark, Apple, Estée Lauder, Dunelm, Hotel Chocolat etc. But I’d say the best retailer in the world is Inditex.

With his eight brands, including Zara, Massimo Dutti and Oysho, Amancio Ortega is an embarrassing reminder to many other retailers that they simply aren’t up to it.

Do you think our High Streets need ‘saving’ or simply changing?

People have become evangelical about high streets, but I'm agnostic on the subject and don’t believe that they all need saving or changing. The damage caused by oversupply can’t be undone and the magic of these accidental un-curated thoroughfares is simply evolving.

Drinks at...

Tank & Paddle

15 Heddon St, Mayfair, London W1B 4BF

Drinks at...

Tank & Paddle

15 Heddon St, Mayfair, London W1B 4BF

Are you an avid ‘in real life’ shopper or are you mostly an online consumer?

I'm not an avid shopper and, of course, I buy online for convenience. Having said that, I do enjoy wandering around towns and cities and so will often buy things on a whim.

Do you allow yourself any shopping luxuries from time to time?

I'm fairly capricious when it comes to shopping and regularly return home with a new coat, pair of shoes or a power tool, but I can’t resist buying good wine. Lots of it.

You’ll be President of Revo in a couple of years’ time. Do you have a manifesto in mind for your time in office?

I won’t have a manifesto, because Revo has an excellent strategy committee that sets out the plan. However, I joined Revo in the first place to try and bring together as many of the myriad retail subsector groups as possible, as one voice (and one cost) and that's a process I will continue to support.

'One voice (and one cost) that's a process I will continue to support.'

Different Magazine | Issue 13