Australian luxury retailer Coco Republic (Sydney) is closing its Union Square store in downtown San Francisco. In doing so, the retailer joins a virtual parade of retailers in exiting the district, which is plagued by low foot traffic and crime concerns.
In a statement on the closure of the three-story store on Stockton Street, CR said, “Downtown San Francisco has been struggling with well-documented issues, which have significantly exacerbated challenges that started with the coronavirus pandemic. Due to a significant decrease in foot traffic and customers, retailers have been finding it difficult to operate in the area. Despite taking numerous precautions in and around their San Francisco store to protect customers and employees, Coco Republic has concluded that it is impossible to continue to keep the location open.”
“We invested extraordinary time and capital in our initial U.S. flagship store in Union Square,” said Anthony Spon-Smith, Coco Republic’s Creative Director and Founder. “Less than six months from opening, we could not be more disappointed to be shuttering this flagship location in our sister city, but ultimately, the safety and well-being of our customers and employees is our highest priority.”
The company still has a presence in the U.S., with a flagship store in the HD Buttercup Design Center in Culver City, Calif., and a newly remodeled store in Orange County that will open later this month. In addition, the brand’s online presence in the U.S. will expand soon with the launch of a new e-commerce platform here.
“In the immediate term, we will continue to service San Francisco residents online and provide full-service commercial sales support,” said Skye Westcott, U.S. President of Coco Republic. “We love the Bay Area and hope to be back if conditions improve in the years ahead.”
For a list of the 23 retailers that have closed stores in or near Union Square since 2020, see this article by The San Francisco Standard.