10 Corso Como to close Shanghai store

10 Corso Como is packing its bags and leaving China, WWD reports. The Italian concept store is set to close its retail space in Shanghai at the end of May because its partner in the country, Trendy Group, no longer wants to renew the license of the 10 Corso Como brand and the lease of the five-story building where the store is located since 2013.

Founded in 1999, Trendy Group is a fashion conglomerate whose portfolio of brands includes Ochirly, Five Plus, Coven Garden, Trendiano and Miss Sixty, among others. The company operates over 3,000 retail locations in nearly 300 cities around the world.

10 Corso Como was founded in Milan eight years earlier and is often credited as the precursor of the ‘concept store’ format, where fashion, food, art and design are all united under the same roof. The success of the Milanese boutique led the company to expand to Seoul, Shanghai, Tokyo and New York -- the New York store being the latest addition to its retail network. It was launched in September, 2018.