Luxury men’s retailer Kent & Curwen has shelved plans for UK expansion two years after opening its London flagship store.
The sports and accessories retailer re-entered the UK in 2006 when it signed for a 1,400 sq ft (130 sq m) store on 2-3 Conduit Street, as Retail Week revealed it was planning to roll out stores nationwide (May 12, 2006).
Kent & Curwen will leave the store just off Regent Street in March and is seeking a new site in the Bond Street area. Brand director Margaret McHugh said: “We’re not thinking about elsewhere in the UK just yet. We want to focus on our flagship for now.”
She added: “Conduit Street looks like a great location but actually down that end of the street it has low footfall; it always has done.”
The retailer was founded in Britain at the beginning of the 20th century. It was bought by Japan’s Renown in 1982 and closed its UK retail operations in the late 1990s to concentrate on growth in Asia.
When it decided to re-enter the UK, a company spokesman said: “Renown has made a lot of headway in Asia since buying Kent & Curwen, but the UK and Europe hasn’t been as strong and now it is focusing back here.” It has not opened any more stores since.
Li & Fung-controlled private equity firm LF Asia Investments in Hong Kong took a stake in the retailer in 2006, since which time it has built up control of the business. The firm also owns Cerruti 1881 and Gieves & Hawkes.
It operates 88 Kent & Curwen stores throughout Asia in Japan, mainland China, Hong Kong and Taiwan. Renown sold its remaining stake in Kent & Curwen to LF Asia Investments in June this year.
Agency Kitchen La Frenais Morgan advised Kent & Curwen on the disposal of the Conduit Street store and has been instructed to assess its options.
It is understood that landlord Crown Estate plans to fill the Conduit Street unit with one of its Regent Street tenants.
Kent & Curwen will leave the store just off Regent Street in March and is seeking a new site in the Bond Street area. Brand director Margaret McHugh said: “We’re not thinking about elsewhere in the UK just yet. We want to focus on our flagship for now.”
She added: “Conduit Street looks like a great location but actually down that end of the street it has low footfall; it always has done.”
The retailer was founded in Britain at the beginning of the 20th century. It was bought by Japan’s Renown in 1982 and closed its UK retail operations in the late 1990s to concentrate on growth in Asia.
When it decided to re-enter the UK, a company spokesman said: “Renown has made a lot of headway in Asia since buying Kent & Curwen, but the UK and Europe hasn’t been as strong and now it is focusing back here.” It has not opened any more stores since.
Li & Fung-controlled private equity firm LF Asia Investments in Hong Kong took a stake in the retailer in 2006, since which time it has built up control of the business. The firm also owns Cerruti 1881 and Gieves & Hawkes.
It operates 88 Kent & Curwen stores throughout Asia in Japan, mainland China, Hong Kong and Taiwan. Renown sold its remaining stake in Kent & Curwen to LF Asia Investments in June this year.
Agency Kitchen La Frenais Morgan advised Kent & Curwen on the disposal of the Conduit Street store and has been instructed to assess its options.
It is understood that landlord Crown Estate plans to fill the Conduit Street unit with one of its Regent Street tenants.
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