CELINE is set to reopen in London, after helping lift LVMH first quarter profits by 25 per cent. The French label, helmed by British designer Phoebe Philo, has signed a deal to open a store on the site of the Jordan International Bank at 103 Mount Street.
The label becomes the latest in a long line of big-name designer brands to open on the street: Lanvin, Bottega Veneta, Loewe, Marc Jacobs, Christian Louboutin and Balenciaga already have shops there - and earlier this week,Oscar de la Renta confirmed it will occupy a unit previously owned by hairdresser Nicky Clarke. Property investor Grosvenor, which owns almost every key property on Mount Street, is reportedly in talks with labels including Givenchy, Alaïa, Chloe, Yves Saint Laurent and Erdem to open stores on the street.
Celine closed its only UK store, on London's Bruton Street, in July 2009 - shortly after new creative director Phoebe Philo showed herfirst collection for the label; for pre-spring/summer 2010. At the time the label remained tight-lipped about the strategy behind the closure, but it was suggested that Philo wanted to allow time to put her stamp on the brand, before opening a new raft of stores in keeping with her pared-back vision.
LVMH said that, despite the buoyant sales for Q1 of 2012, it remained "uncertain" over the European economy - the Evening Standard reports - and was placing "strict control over costs".