Independent brand says central London closures made financial sense.
Gilda’s Tryst, an independent jewellery brand founded in 2009 by friends Shireen Jayyusi and Amanda Waterstone, has closed its two central London stores.
The brand had opened boutiques in Covent Garden and on Duke of York Square, just off of the Kings Road in Chelsea, in the space of two years, selling mostly its own-brand jewellery collections.
Professional Jeweller contacted Jayyusi after the Covent Garden store appeared to have closed down. She told Professional Jeweller that she and Waterstone will now focus on driving the brand forward online, owing to the rising costs of running bricks-and-mortar retail outlets.
“We took the decision to close both the Covent Garden and Duke of York Square stores simultaneously and continue the business online.
“We are a jewellery and accessories label, we design in-house, outsource manufacturing, so our in-store offer was almost exclusively own-brand. It’s been a real challenge as an independent label to maintain stores in these locations given the high fixed cost base. I’m sure you can imagine rents and rates in those locations are incredibly high.”
The brand’s designs – which include spider pendants, Great Gatsby-style Pearl tassle lariats and stone-set stack rings – are said to reference books, music and bygone eras.
Jayyusi added: “We had in any case felt for some time that online sales were to be the future growth driver of our business and whilst we would have liked to keep the stores open as we think retail is a great showcase for the brand, in the end what made the best financial sense for the business was to close the stores.”
The stores closed on September 28. Gilda’s Tryst also expects to host private shopping events.