What: After more than 130 years, Fenwick's flagship department store on New Bond Street in London is closing, marking the end of an era for the iconic shopping destination.

Why it is important: The closure of Fenwick reflects broader changes in the retail landscape, as well as the challenges faced by traditional department stores in adapting to new consumer behaviors and the rise of online shopping. It also highlights the impact of real estate development pressures in prime locations.

Opened in the 1890s, Fenwick on New Bond Street has been a staple for London shoppers, known for its elegance, classic offerings, and understated luxury. Owned by the Fenwick family, the store was sold to developers for EUR 430m, leading to its closure this weekend. Regular customers, including costume designer Rosie Grant, express their sadness and nostalgia for a store that provided unique finds and personal service. Despite the store's historical significance and loyal clientele, the changing dynamics of retail and the lucrative offer from developers led to the decision to sell. The site is set to be "rejuvenated" by Lazari Investments and Foster + Partners, with plans for a larger building that combines retail space with offices, while maintaining the facade within the Mayfair conservation area. As Fenwick's London flagship closes, its legacy as a cherished institution and the end of an era for traditional department stores is felt by many.

London shoppers say farewell to Fenwick