Steen & Strøm, the world’s oldest luxury department store located in Oslo, has achieved a remarkable milestone by setting a new sales record after reopening its doors. In March, the store exceeded its previous best monthly sales by an impressive 20%, a significant accomplishment following the lifting of Covid-19 restrictions in Norway in February. Owned by Promenaden Management, Steen & Strøm occupies an impressive six levels with a sales space of 12,600 sq m.
This remarkable increase in sales can be attributed to the store’s recent investments, which have focused on enhancing the overall customer experience. One notable change includes repositioning the main entrance to face Norway’s busiest shopping street, ensuring increased visibility and accessibility. The introduction of a new atrium and the launch of a new beauty hall last year have also contributed to the store’s success in attracting and satisfying customers.
Steen & Strøm has solidified its position as a leading luxury destination, attracting over 2 million visitors each year. David Wilkinson, the executive director, is optimistic about the store’s recovery in terms of footfall and sales revenue, particularly following their recent investments. Oslo is gradually becoming Scandinavia’s focal point for luxury and premium brands, and with Wilkinson’s expertise gained from renowned luxury retailers like Harrods and Selfridges in the UK, as well as experience in the Middle East and Russia, he believes that Steen & Strøm has the potential to achieve record-breaking success.
The store’s new brand identity is another noteworthy factor contributing to its success. Steen & Strøm partnered with graphic design and art direction studio Lotta Nieminen to create a modern interpretation of the store’s rich heritage. This fresh approach not only highlights the store’s history but also positions it as a forward-thinking fashion destination.
Since reopening after the Covid-19 restrictions, Steen & Strøm has experienced positive sales performance, particularly in the beauty hall, which exceeded its targets within the first two days. The Norwegian retail sector as a whole has displayed resilience throughout the pandemic, with Steen & Strøm reporting double-digit growth last summer. Norway is expected to emerge as one of Europe’s strongest economies in its recovery from the global health crisis.
Another positive development for Steen & Strøm is the return of tourists to Oslo, both from within Norway and from other countries. As international travel gradually resumes, the store anticipates a surge in visitor numbers, further contributing to its sales growth.
With its rich history, recent investments, and resilient performance during the pandemic, Steen & Strøm is well-positioned for a successful summer season. The store’s loyal customer base, combined with the return of international tourists, creates an optimistic outlook for the future. Steen & Strøm’s commitment to maintaining its status as a leading luxury destination in Oslo is evident through its continuous efforts to enhance the customer experience and adapt to changing consumer trends.
[Useful links:](https://www.steenogstrom.oslo.no/) (website of Steen & Strøm) [Learn more about the history of luxury department stores](https://www.businessoffashion.com/articles/opinion/op-ed-the-death-and-rebirth-of-the-department-store) (Business of Fashion article)
