×
1 937
Fashion Jobs
LULULEMON
General Manager Houston Texas United States Gérant Adjoint de Magasin
CDI · Laval
PUMA
Manager, Merchandising -Footwear
CDI · Toronto
ESTÉE LAUDER
Director, Field Sales - Aveda Canada
CDI · Toronto
ADIDAS
Assistant Marketing Manager, Retail Activation
CDI · Vaughan
OLD NAVY
General Manager - Erin Ridge Shopping Centre (New Store)
CDI · St. Albert
OLD NAVY
Assistant General Manager, Merchandising - Promenade Gatineau (New Store)
CDI · Gatineau
OLD NAVY
General Manager - Manning Town Centre (New Store)
CDI · Edmonton
OLD NAVY
Assistant General Manager, Merchandising - Promenade Gatineau (New Store)
CDI · Gatineau
MARSHALLS
Loss Prevention Store Investigator - Gta
CDI · Toronto
BANANA REPUBLIC
General Manager- Fairview Park Mall
CDI · Kitchener
GAP
General Manager- Fairview Mall
CDI · Toronto
GAP
General Manager East Gta
CDI · Toronto
L'OREAL GROUP
Account Executive - Luxe Division (Montreal)
CDI · Montreal
OLD NAVY
Assistant General Manager
CDI · St-Bruno-de-Montarville
OLD NAVY
General Manager - Promenade Gatineau (New Store)
CDI · Gatineau
OLD NAVY
Loss Prevention Agent - Bramalea City Centre
CDI · Brampton
OLD NAVY
Loss Prevention Agent - Toronto Eaton Centre
CDI · Toronto
OLD NAVY
Loss Prevention Agent - Limeridge Mall
CDI · Hamilton
OLD NAVY
Loss Prevention Agent - Scarborough t/c
CDI · Toronto
OLD NAVY
Loss Prevention Agent - Metropolis
CDI · Burnaby
TJX COMPANIES INC.
District Manager, Calgary
CDI · Calgary
MARSHALLS
Winners 401 & Mccowan - Sales Floor Merchandise Coordinator (Open Availibility)
CDI · Toronto

Location of Nike's future House of Innovation on Champs-Elysées sold for record price

Translated by
Robin Driver
Published
today Oct 3, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Nike has benefited from a "made-to-measure program" for the installation of its new flagship at 79 Avenue des Champs-Elysées. The American sportswear brand, which is leaving its current digs at number 66 on the famous Parisian avenue, will open its new location this winter, with work already underway as the world number one in sports and lifestyle sales prepares to bring its House of Innovation concept, currently only present in New York and Shanghai, to the French capital. 


A concept image of Nike's future Parisian flagship - Groupama Immobilier


In New York the concept store covers 6,000 square meters at the corner of Fifth Avenue and 52nd Street. In Paris it will sit at the Champs-Elysées' intersection with Rue Quentin Bauchart, a location previously occupied by Toyota. Here the brand will open its largest European store over 4,300 square meters in an Art Déco building. In particular, the integration of an Art Deco double-helix staircase dating back to the 1930s within a high-tech Nike concept should make for an interesting aesthetic juxtaposition. In order to achieve this sizeable footprint, a number of spaces have been brought together and extra meters have been gained by taking over  offices. Furthermore, along with its commercial operations, Nike will also set up its management on the upper floors of the store, applying a similar model to that by adopted by Apple and Chanel in their own flagships on the Champs.

This approach goes some way to explain the value of the transaction which has just been completed. The building has been sold by Groupama Immobilier to Norwegian sovereign wealth fund Norges Bank Investment Management for 613 million euros. By way of comparison, the building currently hosting the Apple Store was sold for 600 million euros last year. 

"This operation, developed over five years in order to permit made-to-measure adaptations to Nikes' project, demonstrates that time in real estate is, above all, a long-term concept," explained Eric Donnet, managing director of Groupama Immobilier. "It also demonstrates once again just how attractive the Champs-Elysées is. Our conviction is that the avenue's vocation is to welcome new mixed concepts, combining retail, lifestyle and business. These locations are strong value providers for both investors and users, and also contribute to the vitality of the avenue and the capital."

Commercial activities on the Champs-Elysées have taken something of a battering over the last year but it seems that in the mid to long term, the avenue has managed to retain its attractiveness for international investors. 

Copyright © 2020 FashionNetwork.com All rights reserved.