Brand secures space on London’s Sloane Street for £1 million.
Brazilian jewellery brand H. Stern is set to open its first European standalone store on London’s Sloane Street, in a move that takes the company’s retail outlets from mostly concession spaces to a company owned and operated boutique.
The space, at the back of what is presently fashion store Browns, is said to have cost about £1 million for H. Stern to secure as its own. It is still occupied by Browns but the jewellery brand is expected to move in in the coming months.
At present H. Stern operates in 12 countries worldwide, though the majority of its retail spaces are concessions within department stores and airports.
Sloane Street property expert David Harper, a partner at Harper Dennis Hobbs, told London’s Evening Standard: “It is very difficult to secure space on the street and demand keeps increasing as new brands come in from overseas.”
The rent for the store is said to be in the region of £230,000 a year.
Fellow jewellery brand Tiffany & Co. is situated a little further down the street, while Boodles, Cartier and Montblanc also run standalone stores on the street.
H. Stern has recently run two campaigns fronted by actress Katie Holmes. Fashion designer Diane von Furstenberg has also designed a collection for the brand.