London-based investment firm Pemberton Asset Management acquired the auction house for an undisclosed amount.
Shinola expands into Europe with standalone store
Shinola is opening a brick-and-mortar location in London’s Soho district next month, marking the brand’s first standalone store outside the United States.
The two-story, 400-square-foot store will be located at 13 Newburgh St. and stock a full range of Shinola products: watches, leather goods, journals and collaboratively produced supply products and pet accessories will be housed on the first floor, while the basement will offer the brand’s bicycle collection.
Steve Bock, CEO of Detroit-based Shinola, said the decision to open the London store was inspired by feedback the brand’s gotten from Europe and, in particular, the United Kingdom.
“Soho is a vibrant and culturally significant area … it provides the ideal location for our first store outside the U.S.,” he said. “As a gateway to Europe, our launch here in London combined with the launch of our European website in October is an important next step in our international roll-out plans.”
Shinola’s watches launched globally on Mr Porter and Net-A-Porter this month, with both websites offering timepieces that retail for less than $1,000.
The brand’s European e-commerce site also will debut next month, “in response to the growing international demand for the brand,” Shinola said.
Shinola’s first and flagship location opened in Detroit in June 2013, followed by two additional locations, one in New York’s Tribeca neighborhood and another in Minneapolis.
A representative from the brand said Shinola plans to open more standalone stores in the U.S. and elsewhere but did not specify where.
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