Colette Paris is considered as one of the coolest concept store in the world and, after a 20 year run from 1997 to 2017, will soon close its doors. The closure is expected to occur on 20th of December 2017 and will mark the end of an era. The announcement came on their website with the following statement: “As all good things must come to an end, after twenty wonderful years, colette should be closing its doors on December 20th of this year. Colette Roussaux has reached the time when she would like to take her time; and colette cannot exist without Colette”. The store discovered new talents and always set the trend. If you wanted to know what was IN, Colette was the go-to destination to stay up to date with the latest. Fashion editors, Karl Lagerfeld and tourist alike browse and shop at 213 rue Saint Honore. It was a fashion mecca where everyone could purchase something, regardless of their budget. There was something for everyone to buy, from the tiniest accessories to the expensive designer brands. It was also a place to meet and eat with its restaurant and water bar with 73 different waters to choose from. Who would’ve thought Colette would actually close one day, being such a recognized brand.
Sign of times with the increase of online shopping, the reduction of tourist after the Paris attacks, the unpredictability of shoppers, the cost of brick and mortar can certainly be influencing factors. Nonetheless the online side of the business is said to continue as it currently represents 25% of the business today (source). Colette Roussaux and her daughter still live above the store and are in talks with Saint Laurent for the lease of the space which they own. Both mother and daughter want to the new occupier of the space to remain in-line with brand and take care of the employees who currently work for them.
Did you know: Colette, which is fully owned by Ms. Roussaux and Ms. Andelman, had sales of 28 million euros ($32 million) in 2016, with e-commerce accounting for 25 percent of that. (source)
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