Rituals opens Kensington store
Rituals, the Dutch cosmetics and home brand, has signed a 10-year lease for a 1,500 sqft. store on High Street Kensington in London.
The shop opening comes after Rituals negotiated a lease surrender with fashion retailer East. The cosmetics brand will pay a rent of £195,000 per annum for the new store, which will become Ritual's UK flagship. It's located in the "prime rental" block to the west of High Street Kensington Underground Station.
David Peacock, Portfolio Manager at DTZ Investors, commented: “We are delighted with this letting, which follows a number of asset management initiatives including regearing existing leases with key occupiers and pursuing improvements of the residential element”.
Rituals, which was founded by Raymond Cloosterman in 2000, has over 400 stores worldwide. Last year it opened its first French store in Paris’ Marais neighborhood.
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