LONDON-Liberty of London will shutter its Sloane Street flagship next month after receiving an unsolicited offer from a flush European fashion brand.
The 2,000 square foot store, which opened last July, stocks Liberty of London branded accessories, ready-to-wear, stationery and costume jewelry.
The unit was the first Liberty of London standalone store.Liberty said Monday the offer was unsolicited and too good to pass up. The new tenant has purchased the lease and also paid Liberty a 700,000 pounds, or $1.2 million, cash premium.
Sloane Street is one of the most sought-after commercial locations here,with stores including Louis Vuitton, Gucci, Prada, Harvey Nichols, Alberta Ferretti, Loro Piana, Marni and Missoni. A company spokesman confirmed the store’s stock will be sold from Liberty’s main store near Regent Street, and that no layoffs are planned.