On the corner of Avenue George V and Avenue des Champs-Elysées, this iconic building from Gecina’s portfolio has been home to the Parisian flagship store of the renowned fashion house and luxury goods brand Louis Vuitton since 1995. To be able to carry out extensive work inside these premises, returning to the lines of its 1930s architecture, Louis Vuitton and Gecina are committing to a new lease to let the entire space, representing nearly 10,000 sq.m (including around 6,000 sq.m of retail space), for a firm 18-year period. The lease will come into effect once the conditions precedent linked to the administrative authorizations in particular have been lifted.
Louis Vuitton’s project aims to redeploy its retail spaces by notably reconfiguring the volumes and circulation areas within the building and incorporating new services. With this work, Louis Vuitton will significantly improve the building’s energy performance to align it with Gecina’s CAN0P-2030 plan, targeting net zero carbon emissions from 2030 across its operational portfolio.
Valérie Britay, Deputy CEO in charge of Gecina’s Office Division: “We are delighted to be accompanying Louis Vuitton with this major project, which will further strengthenthe iconic status of 101 Champs Elysées, making it possible to continue creating value on this asset. This renewed commitment by a leading client confirms the long-term international appeal of the Champs-Élysées and its prestige, while highlighting the quality of Gecina’s unique portfolio in Paris”.
Source : Company