Fifth & Pacific Companies Inc, the former owners of the fashion label previously agreed to the early termination of its Juicy Couture flagship store at 650 Fifth Avenue in New York in exchange for 51 million dollars. The possible closure of the Regent Street flagship store would come a mere 18 months after the store opened.
A unnamed source revealed to Drapers that the fashion label had been seeking to end its contract for its Regent Street flagship store for the past few weeks, stressing that the store had not been selling well. It is still uncertain if Juicy Couture is looking to close its other UK stores as well.
The store closure could be part of a global strategy introduced by Authentic Brands Group, who revealed plans to close all Juicy Couture stand alone stores in the US by summer this year and relocate the fashion label to Kohl's department stores across the US starting fall.