H Stern sets up shop in Europe

The upmarket Brazilian jewellery chain H Stern has chosen London's Sloane Street for its first-ever European standalone store.

The favourite jeweller of actress Katie Holmes and the Vogue editor Anna Wintour has outlets in 12 countries, mainly inside department stores and airports.

However, in London it has made the move to open a company-owned, full-line store.

H Stern has paid a £1m premium to secure the shop, which is currently occupied by the fashion store Browns. The rent is in the region of £230,000 a year.

David Harper, a partner at the property experts Harper Dennis Hobbs, said: "It is very difficult to secure space on the street and demand keeps increasing as new brands come in from overseas."

Recent foreign additions on Sloane Street include the US fashion brand Rag & Bone, which has signed up at 13/14 Sloane Square, opposite Tiffany & Co.

Michael Horwitz & Co advised H Stern.