Major San Francisco Jeweler, Shreve and Co. Closing
Shreve & Co., a prestigious jeweler with a 172-year history in San Francisco, announced on Monday that they are leaving the city. The jeweler plans to relocate its flagship store to Palo Alto as part of a “strategic retooling of the company’s business plan.”
The historic Union Square store, located at 150 Post Street, will commence its liquidation sale on May 17. According to a spokesperson for Shreve & Co., the decision to move was influenced by dynamic changes within the luxury retail industry.
The total liquidation and store closing sale will include a multi-million dollar inventory of diamonds, fine jewelry, and watches. Customers and bargain hunters can expect substantial discounts, with items marked down by as much as 60%.
“This marks a significant chapter in the company’s storied history, embracing new opportunities while continuing to uphold its revered legacy,” said Lane Schiffman, a managing partner with the company. “We are proud that our core values and commitment to service remain unchanged.”
Union Square and downtown San Francisco have been hit particularly hard with storefront vacancies in the wake of the coronavirus pandemic. Shreve & Co.’s departure is a notable example of the ongoing challenges facing retail businesses in the area.
The jeweler’s move to Palo Alto reflects broader trends in the retail industry, where shifts in consumer behavior and economic pressures have prompted businesses to rethink their strategies. The decision to relocate aims to position Shreve & Co. for continued success in a changing market landscape.
The liquidation sale at the Union Square store will offer a unique opportunity for customers to purchase high-end jewelry and watches at significantly reduced prices, marking the end of an era for the iconic San Francisco retailer. Despite the move, Shreve & Co. remains committed to upholding its long-standing tradition of excellence and customer service as it transitions to its new location.
I usually have some sassy remarks, but today I’m kind of sassless.
If you want some cheap jewelry, you know where to go in San Francisco.
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