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SAN FRANCISCO — Australian furniture brand Coco Republic is closing its store in Union Square less than a year after its opening, citing an increasingly difficult retail environment in downtown San Francisco.
The retailer is conducting a closing sale at its three-level, 53,000-square-foot flagship design showroom to eliminate its on-site inventory.
“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 based in Sydney. “Less than six months from opening, we could not be more disappointed to be shuttering this flagship location. … But ultimately, the safety and well-being of our customers and employees is our highest priority.”
San Francisco has been struggling with issues related to homelessness and public safety in its downtown, which has decreased foot traffic and customers and made it difficult for retail operators. In its statement, the company said despite taking numerous precautions in and around the store, it couldn’t keep the location open.
“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.”
Coco Republic has a store at the 100,000-square-foot HD Buttercup Design Center in Culver City, Calif., and a newly remodeled Coco Republic is opening later this month in Orange County. It is also launching a new e-commerce platform this month.
