Nordic cosmetics brand Rituals is to open a flagship UK concept store on London’s Kensington High Street.
Following a lease surrender by fashion retailer East, Rituals has agreed a ten year lease on a 1500 square foot store with DTZ Investors in a block to the west of High Street Kensington underground station
Colliers International’s head of London retail agency Paul Souber, who advised on the deal, said: “DTZ Investors is looking to appeal to a vibrant mix of aspirational lifestyle and fashion brands to their block on High Street Kensington. High-end retailers like Rituals are attracted by this stylish part of London as it offers the right demographic and fits well with their brand image.”
Established in 2000 by Raymond Cloosterman, Rituals sells its products through its 400 stores worldwide, its web shop, and almost 1400 concessions within department stores, onboard airlines and 25,000 hotel rooms.
David Peacock, portfolio Manager at DTZ Investors, said: “This new letting follows a number of asset management initiatives including regearing existing leases with key occupiers and pursuing improvements of the residential element, following our purchase of the block in March 2015. The recent activity is testament to the core nature of the fund’s asset. Favourite British Lifestyle brand Oliver Bonas and communications giant EE have both taken extended leases.”