Colette’s Paris Concept Store To Close After 20 Years

The fashion retailer announced the news on Wednesday morning.

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Colette is to close its concept store in Paris. WWD reports that staff in the French capital were told the news on Wednesday morning. The store, situated on 213 rue Saint-Honoré, first opened in March 1997 and will close for the last time in December.

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“As all good things must come to an end, after 20 wonderful years, Colette should be closing its doors on Dec. 20 of this year,” the store said in a statement, explaining that founder Colette Roussaux was ready to retire. 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,” it added.

It is expected that Saint Laurent will take over the location. “We would be proud to have a brand with such a history, with whom we have frequently collaborated, taking over our address," the statement continued. "We are happy of the serious interest expressed by Saint Laurent in this project, and it could also represent a very good opportunity for our employees,” it added.

WWD states that the store reported profits of $31 million in 2016, with online accounting for roughly 20 percent of sales.

Colette’s Paris Concept Store To Close After 20 Years