Oslo’s 225-Year-Old Iconic Department Store Steen & Strøm Shatters Monthly Sales Record

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Oslo’s 225-Year-Old Iconic Department Store Steen & Strøm Shatters Monthly Sales Record

Oslo, Norway, 12 May 2022: Steen and Strøm, the world’s longest trading luxury department store (established 1797), made history in March 2022 when it exceeded its best monthly sales on record by20 per cent. Owned by Promenaden Management, the six-floor, 12,600 sqm (net sales space) landmark department store is the jewel in the crown for Promenaden Oslo Fashion District, Norway’s epicentre of luxury, fashion and lifestyle.

The jump in sales above any previous march on record comes after major investment into the department store asset including a repositioned main entrance onto Norway’s busiest shopping street Karl Johans Gate, the introduction of a new atrium, and the unveiling last year of a major new beauty hall.

A leader in fashion throughout its 225 years, Steen & Strøm brings together exclusive high-end brands and quality service in an inviting atmosphere. With over two million annual visitors and a long tradition of being one of Oslo’s main meeting points, Steen & Strøm seeks to maintain its position at the intersection of classic and contemporary fashion and lifestyle and as a destination that has continuously evolved and moved with the times. 

David Wilkinson, Executive Director of Steen & Strøm commented: “We are encouraged by the recovery of footfall and sales revenue following the major investment made in the new entrance, escalator core and beauty hall. Oslo continues to develop as Scandinavia’s focus for leading luxury and premium brands. Our customers and teams are incredibly loyal and, combined with international tourists returning, we look forward to delivering a record summer season”.

Major drivers for these great results have been the new Karl Johans Gate entrance, as well as strong performance from fashion, beauty, and restaurants:

New Entrance

From its new entrance on Karl Johan’s Gate, Norway’s most visited shopping street, Steen & Strøm opens onto an annual footfall of almost 16 million. With this repositioned entrance, the footfall of the department store is set to more than double from 2.2m to 5m visitors next year. Today, the footfall of Steen & Strøm is 19.1% higher than pre-pandemic levels.

New Atrium and Beauty Hall

Steen & Strøm’s increased footfall is also driven by its newly designed interior features. The retail complex now showcases a stunning new atrium and a new beauty hall. The luxurious beauty hall which hosts a blend of products, services and experiences, including a world-class line-up of premium brands with top names such as Chanel, Le Labo, many ‘first to the Nordics’ brands, as well as a strong focus on customer service and in-store experiences.

New Brand Identity

The rebranding was delivered in collaboration with the award-winning graphic design and art direction studio Lotta Nieminen with a great deal of importance placed on interpreting Steen & Strøm’s history through a modern lens. It highlights the legacy and the store’s long-standing position as a bold, forward-thinking fashion destination. With its new name and logo, the refreshed brand gives Steen & Strøm a confident visual and tone of voice, embodying its high-end playfulness.

“Steen & Strøm has been considered a modern classic for generations; we wanted the new brand identity to preserve our heritage,” says Kaia Kongsli, Head of Marketing, Steen & Strøm Department Store. “So, we added 1797, the year Steen & Strøm was founded, to the logo to reference this, whilst at the same time refreshed the profile to give it a more modern and future-oriented feel. Combined with a new colour palette, the brand’s visual voice becomes more playful and aspirational.

Norway Returns as a Robust Economy

Since reopening after Oslo’s emergence from government-imposed COVID-19 restrictions, sales have already been encouraging, with the beauty hall exceeding targets on its first two days after reopening. Norwegian retail has proved resilient during the pandemic, with Steen & Strøm reporting double-digit growth last summer; Norway is expected to come out of the pandemic as one of Europe’s strongest economies.

Tourists are returning to Oslo, with the city becoming an increasingly attractive destination for both domestic and international tourists with its shopping and cultural offer. Oslo’s cultural scene is flourishing with the scheduled reopening of the Natural Museum of Norway next June 11, Scandinavia’s largest Arts Museum, which will house the collections of the former National Gallery, the Museum of Contemporary Art and the Norwegian Museum of Decorative Arts and Design.

ABOUT STEEN & STRØM

Introducing the latest fashion for over 200 years, Steen & Strøm brings together exclusive high- end brands and quality service in an inviting atmosphere. With over 2 million annual visitors and a long tradition of being Oslo’s main meeting point, Steen & Strøm seeks to maintain its position at the intersection of tradition and forward-looking fashion and lifestyle. Inclusive and aspirational, it is a destination that mixes inspiration with the ease of a one-stop shop. The destination for what’s new and next since 1797.

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