After 20 years, the renowned Parisian boutique Colette is closing its doors.

"As all good things must come to an end, after 20 wonderful years, Colette should be closing its doors on December 20 of this year," the company said in a statement. "Colette Roussaux has reached the time when she would like to take her time; and Colette cannot exist without Colette."

Located at 213 rue Saint-Honoré in Paris, Colette first opened its doors in March 1997. The store aims to reinvent the concept of retail in its seven hundred square-meter establishment.

Spanning three levels, customers are invited to come face to face with the colette experience, which offers a never ending assortment of fashion, high-tech, arts, streetwear, beauty and waters.

The Talk is that Saint Laurent is to take over the Saint-Honoré location. Store or the recent Saint Laurent school, we'll have to wait and find out.

"Negotiations are under way with Saint Laurent and we would be proud to have a brand with such a history, with whom we have frequently collaborated, taking over our address," the statement read. "We are happy of the serious interest expressed by Saint Laurent in this project, and it could also represent a very good opportunity for our employees."