If you visit San Francisco’s Union Square to shop in 2026, you may be surprised by the mass vacancy in that retail district.
From the nine-story mall on Market Street that once housed Bloomingdale’s and Nordstrom, to North Face and Williams Sonoma, about half of retailers there have closed shop.
“In San Francisco, there are many components going on where people are leaving big cities,” said Marcelo Tau, the owner of Fiat Lux, who has two stores in San Francisco, but chose to open his latest on North Santa Cruz Avenue. “You can actually spend the day and have fun in downtown Los Gatos, and that to me is how retail is changing. I didn’t want to be in malls, because you lose that aspect of the community.”
Fiat Lux is celebrating its hard launch with a ribbon cutting ceremony at 58 N. Santa Cruz Ave. today, from 4-8pm, alongside Mayor Rob Moore.
Tau says he’s aware of the current state of retail and chose Los Gatos as part of his business model of embracing community and diversity within retail.
And this approach is mirrored in the variety of their stocklist.
Art without rules
Artist Marie McCarthy founded Fiat Lux in 2011. She sold the business in mid-2025 to Tau.
Tau comes from a business background with titles like “head of strategy” at Nike and “managing director and partner” for Boston Consulting Group. At BCG his accounts included Coach, LensCrafters, Kroger, Gap and Walgreens.
He wants to continue Fiat Lux’s momentum, which has excelled with artistry and creativity.
(Faizi Samadani / Los Gatan)
Fiat Lux was in operation for 15 or so years before McCarthy sold to Tau, the fine jeweler’s steady climb serves as an example of how to time company transitions.
The Los Gatos store is the third for the brand, yet it’s the first Tau has started.
The competitive advantage for Fiat Lux is their “creative edge” on traditional jewelry, as Tau puts it.
By incorporating designs like eyes, skulls and snake concepts, Fiat Lux has several unique selling points—for example using materials like precious metals, natural diamonds, rubies and emeralds.
According to their website, their inventory is “curated for those who embrace individuality, celebrate rebellion, and seek refinement beyond expectation.”
Tau, who moved to the United States from Brazil 25 years back, said he appreciates the variety of cultural influences he’s been exposed to here.
(Faizi Samadani / Los Gatan)
Fiat Lux had a soft opening in early December, then closed for several weeks to ready the piercing side of the business (including dealing with the permitting process).
He says they hire piercers with at least 3-4 years of experience.
The company sells items at price points that range from $100 to $30,000 per piece.
Tau says that the average jewelry fanatic can even find merchandise made from sterling silver or gold for a few hundred bucks.
They also offer personal design services, where in-store experts will customize products with a customer one-on-one.
Fiat Lux is located at 58 N. Santa Cruz Ave., Los Gatos, California.
* Tau’s title while at BCG was stated incorrectly and has been updated.
