Fenwick, the renowned independent department store retailer, is preparing to close its flagship store on New Bond Street in London after 133 years of operation. Although an official closure date has yet to be announced, sources suggest that the store is entering its final weeks and will initiate a significant closing down sale before officially shutting its doors in early February. In commemoration of this momentous occasion, Fenwick has introduced an ‘archive sale’ exclusively for its Bond Street location, presenting customers with a 70% discount on thousands of products.
The decision to close the store and sell the building was disclosed in December 2022, with property developer Lazari Investments purchasing the property for an estimated £430 million. Lazari intends to transform the structure into a mixed-use development, with a particular focus on office spaces. However, the development will still incorporate two floors dedicated to retail, acknowledging the enduring demand for luxury shopping along New Bond Street. Positioned at the crossroads of Brook Street and New Bond Street, the new owners aspire to establish “world-class retail accommodation” on the ground and first floor, while utilizing the upper floors for upscale offices. Although the building is not officially listed, it does fall within the Mayfair Conservation Area.
The retail space within the store has already been downsized from five floors to three, with the lower-ground and third floors now closed to customers. Reports from late 2020 indicate that the Bond Street branch was generating less than half the sales of other Fenwick stores in Brent Cross, Kingston, and Newcastle. Consequently, the Newcastle store, situated in the company’s hometown, now stands as Fenwick’s sole remaining flagship store. As part of Fenwick’s 140th anniversary celebration, the Newcastle location is presently undergoing a £40 million renovation, including the installation of a new store front.
While the closure of Fenwick’s New Bond Street store signifies the end of an era, the retailer is focusing its efforts on its remaining stores and investing in their future success. With changing consumer shopping patterns and the ongoing impact of the pandemic, Fenwick is adapting to the evolving retail landscape and striving to deliver exceptional experiences for its patrons. As the store bids farewell to its iconic location, shoppers have the opportunity to take advantage of the archive sale and acquire luxury items at discounted prices before the final closure.