King’s Road Partnership CEO New Year Update
By Steven Medway, CEO, King’s Road Partnership
Reflecting on 2024: A Year of Resilience and Growth
As we step into 2025, it is a time for reflection on our achievements and a moment to look ahead with optimism and determination. 2024 was a year of resilience and growth for the King’s Road Partnership, and I want to extend my gratitude to our businesses, stakeholders, and community for their continued support in making our district thrive.
Despite macroeconomic pressures, the King’s Road saw a 3% increase in footfall, welcoming over 10.1 million visitors and outperforming London’s average. Our brand awareness efforts also flourished, with website users up 30.1%, Instagram followers growing by 50.5%, and our Privilege Card membership expanding by 42%. December 2024 saw an impressive 11% increase in sales, a clear indicator that our district remains a key destination for shoppers and visitors.
Strengthening Our Business Community
One of our key objectives has been to support businesses in an increasingly challenging economic climate. The cost reduction scheme delivered over £700,000 in savings, helping members reduce their operational expenses. Security measures were also a priority, with our street team recovering £49,100 worth of stock and theft levels decreasing 1% year-on-year.
The ShopSafe Alert system, launched in late 2024, has already proven successful, with over 120 businesses using the platform and 160 prolific offenders identified. We also introduced the ShopSafe Radio scheme, strengthening communication between businesses and law enforcement. These initiatives have directly contributed to making King’s Road a safer place to trade and visit.
A Strong Marketing and Events Year
Our destination marketing efforts yielded incredible results in 2024. Highlights included Chelsea in Bloom organised by Cadogan, which welcomed 1.4 million visitors and generated 67.5 million media impressions. Digital engagement also surged, with TikTok growing by 433% and a 72% open rate for our Privilege Card newsletter.
December’s Chelsea Christmas Lights Switch-On was a resounding success, and send a massive thank you to Cadogan and the team for organising such an important event, boosting footfall by 12% compared to 2023. Our summer staycation campaign also delivered 1 million+ out-of-home advertising impressions, ensuring we reached key audiences both locally and beyond.
Looking Ahead to 2025
The coming year presents both opportunities and challenges. Economic uncertainty remains a reality, with persistent inflationary pressures, shifts in consumer spending habits, and ongoing adjustments in retail and hospitality. While the UK economy has shown signs of resilience, 2025 is expected to bring continued caution among businesses and consumers.
Luxury and high-street retail are evolving, with a greater emphasis on experience-driven retail, sustainability, and digital engagement. We will continue to adapt to these trends, ensuring that the King’s Road remains a destination of choice for both shoppers and businesses.
We are set to introduce new initiatives, including enhanced wayfinding solutions, printed guides for tourists, and a comprehensive Marketing Pack to assist our levy payers in maximizing their brand exposure. Collaborations with major events such as the RHS Chelsea Flower Show, Affordable Art Fair, and Salon Privé London will help drive increased footfall and spend.
The King’s Road Local Area Action Plan, finalized in 2024, will be a major focus this year. We will work closely with RBKC and property owners to implement projects that enhance the public realm, declutter key sections, and improve accessibility. We will provide guidance to businesses on sustainability regulations, including the Simpler Recycling requirements coming into effect in March 2025.
Navigating the Challenges of 2025
While we celebrate our successes, we acknowledge the challenges ahead. The reinstatement of tax-free shopping remains a crucial issue for London’s retail sector, and we continue to work alongside New West End Company, Walpole, and Heathrow to advocate for a strategic, tourism-driven solution.
The UK business rates review, announced in the recent budget, will also have implications for many of our members. We are committed to engaging with the government and ensuring the concerns of King’s Road businesses are heard as part of this consultation process.
Security will remain at the forefront of our agenda. The success of our ShopSafe Alert and Radio schemes has proven their value, and we will look to expand participation in these programs. We are also working with RBKC, Westminster, and Hammersmith & Fulham councils to establish a dedicated CCTV operator, further enhancing crime prevention measures in our district.
Finally, despite economic headwinds, the resilience of the King’s Road community gives us every reason to be optimistic. 2024 demonstrated that, with the right strategies in place, we can drive growth, adapt to new consumer behaviours, and strengthen the commercial environment for our businesses.
In 2025, our mission remains clear: to support our businesses, enhance our public spaces, and ensure that the King’s Road continues to thrive as a premier retail and hospitality destination.
Thank you for your ongoing support, and I look forward to another successful year together.
Steven Medway
CEO, King’s Road Partnership
