Spanish jewellery brand reported to be considering closing UK stores.
It has been reported that Spanish jewellery retailer Tous could be considering pulling out of the UK market.
The brand is thought to want to exit its Regent Street store and is considering closing its shop at Westfield London, as reported by Retail Week.
The closure of both stores would bring an end to the brand’s UK presence.
Tous, which has signed popstrel Kylie Minogue as the face of the brand and has more than 400 points of sale worldwide, entered the UK market in 2008 with the opening of its Regent Street store. It then opened a second store at Westfield London.
The brand originally had plans to create a huge network of stores in the UK but this plan has never materialised and Tous told Professional Jeweller in May that it had no plans to open anymore UK stores.
Tous’ PR representative in the UK declined to comment on the story but admitted the UK market had been "tough" for the Spanish brand. It did however state that Tous was continuing to open stores outside of the UK and is in talks with an A-list star to front the brand’s future campaigns.
The brand’s property agent CBRE have not responded to requests for comment.