PARIS • Colette, one of the French capital's trendiest fashion stores, will close its doors in December after 20 years, with its founder set to retire.
It said it was in talks with fashion house Saint Laurent over the latter possibly taking over the location of the shop in the chic Rue SaintHonore, which is often thronged with wealthy Asian tourists.
Colette, well-known for frequent in-store events and everything hip, from furniture, music and fashion to toys and even waters, was founded in 1997 by Ms Colette Roussaux and her daughter Sarah Andelman.
It was one of the first stores to cater to an aesthetic lifestyle, as opposed to a specific product category, becoming a model for a new kind of retail.
"All good things must come to an end. After 20 wonderful years, Colette is set to definitively close its doors on Dec 20," it said in a statement. "Colette Roussaux has reached an age when it's time for her to take her time, and Colette cannot exist without Colette."
The three-storey shop was declared "the coolest shop in town" by fashion critic Suzy Menkes and is a regular haunt of designer Karl Lagerfeld.
"It's the only shop where I go because they have things no one else has," he has said.
The closing of the store comes amid rising rents for retailers in Paris and a move towards more fashion-spending online.
Colette, which is fully owned by Ms Roussaux and Ms Andelman, also features an art-exhibition space, bookshop and water bar. It had sales of €28 million (S$44 million) last year, with e-commerce accounting for 25 per cent of that.
The Colette team is taking pains to emphasise that until December, it will be business as usual.
"Until our last day, nothing will change. Colette will continue to renew itself each week with exclusive collaborations and offerings, also available on our website, colette.fr."
REUTERS, AGENCE FRANCE-PRESSSE, NYTIMES