US-based fashion retailer Kate Spade New York (NY) is to open its first permanent European store in September this year.
Kate Spade NY made its debut in the UK with a pop-up shop in London’s Covent Garden open for a month from October 2010, but this 4,000 sq ft flagship outlet will be located on the corner of Symons Street and Pavilion Road in the Sloane Square area of the city.
Established in 1993 the fashion brand currently has 400 stores worldwide, including 36 stores in the US.
This latest acquisition is in the form of a ten-year lease from property owners The Cadogan Estate and the deal was advised on by real estate company CB Richard Ellis (CBRE).
Hugh Seaborn, CEO of the Cadogan Estate, commented: “We are delighted to welcome Kate Spade NY to Chelsea and are confident that they will contribute to the continued success of this vibrant shopping area which is at the heart of the estate.”
High-end retailers currently located close to the new store include Tiffany, Links of London, Hugo Boss and Cartier and other units in this development have been let to retailers such as The White Company, Brora and Beatrix Ong.
CBRE is also working with the Cadogan Estate to bring other big name retailers into the area with a 7,000 sq ft flagship on King Road and a 4,000 sq ft outlet on Sloane Square set to be introduced later this year.
Edward Humbert, Senior Director of Central London Retail for CBRE, said: “Kate Spade NY is among the leading women’s fashion brands in the US and is a favourite with A-list celebrities.
“The Sloane Square area is continuing to evolve and improve as a retail destination, and the Cadogan Estate has already signed-up some great brands on both Symons Street and Pavilion Road; however, the addition of Kate Spade NY to the retailer mix in the area will provide a fabulous anchor tenant for this development.”