Crystal jewellery and accessories company Swarovski is closing its shop at 137 Regent Street, W1, after its lease came to an end.
The Crown Estate-owned shop’s lease has come to an end, 12 years after it opened. Swarovski has been closing a small number of its most expensive stores in central London, including 147 Oxford Street, W1, which is owned by a private investor.
A spokesman said: “In order to meet the expectations and changing shopping habits of its consumers Swarovski UK practises a continuous re-evaluation of its retail distribution. As a result it will open a number of new locations in 2017 and cease trading a small number of stores, which includes Regent Street.”
The retailer has several shops in London’s West End. These include Covent Garden, WC1, Sackville Street in Mayfair, W1 and its recently opened shop at Park House, Oxford Street, W1.
The Crown is already in discussions with Parisian fashion brand Sandro to re-let the 1,000 sq ft Regent Street shop.
Rents on stores on Regent Street average between £725 and £750 zone A, according to Cushman & Wakefield.
CBRE is advising the Crown Estate; Harper Dennis Hobbs acts for Swarovski.
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