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From Pickadilly Hall, a house belonging to a tailor who specialized in a type of lace collar called a piccadill, possibly from conjectured Spanish *picadillo, from picado(“punctured, pierced”); compare 17th century Spanish picadura(“a similar lace collar”).
Though the Philistines may jostle, you will rank as an apostle in the high aesthetic band - If you walk down Piccadilly with a poppy or a lily in your mediaeval hand.
2024 March 6, Stefanie Foster, “The changing face of the Piccadilly...”, in RAIL, number 1004, page 52:
Why Piccadilly? The Piccadilly Line was originally the Great Northern, Piccadilly & Brompton Railway (GNP&BR) which was shortened to Piccadilly in practice. Running under the main road between Piccadilly Circus and Hyde Park Corner, Piccadilly made sense and was also the most well-known location in the original company name.