Reports comment that luxury label Balenciaga has authorized a deal to open a new flagship store on London’s Bond Street. The Kering-owned label came in accord with British footwear and handbag retailer Russell & Bromley to take over its lease on for its store on New Bond Street.
Kering liaised with the building’s landlord, the City of London Corp., to take over the first floor of offices above the store too, therefore giving Balenciaga a new two-story flagship shape. Sources commenting on the matter report that Balenciaga allegedly paid $6.2 million USD to take over the lease. However, the parties refused to comment on Bloomerang.