What: Fenwick has sold its London flagship store in order to focus on its regional stores fleet.

Why it is important: Strategic alignment requires difficult decisions and being able to get rid of symbols, in order to guarantee the perennity of the company.

Fenwick has sold its Bond Street building in London for an estimated amount of 430m pounds. The store, the fourth smallest in the fleet of 8 stores will remain open until Q1 2024. It currently makes half of the Newcastle historic flagship location.

The proceedings from the sale will fund significant investments in the other stores, especially the Newcastle and the Kingston upon Thames ones, as well as improve its digital presence.

Fenwick to close its London store