Savills has advised St Martins Management Corporation on the leasing of its 750sq m store at 38, Avenue des Champs Élysées to Canadian sportswear brand lululemon.
Formerly let to Zara Home, this store, opening in early December, will be lululemon’s first flagship on continental Europe.
Christian Nehmé, Head of Retail Services, Savills France, who advised the landlord, comments: “We are delighted that lululemon has secured this prime retail space on Avenue des Champs-Élysées. Lululemon has already had huge success here in Paris and establishing a foothold on our most iconic retail destination street cements its commitment to growth and the customer experience here in France.”
Post pandemic, tourists are now back in Paris and the city is projected to welcome more than 40 million visitors this year, confirming the upturn in the sector. The Champs Élysées is the only European retail destination to have exceeded pre-pandemic visitor numbers, despite the absence of the Asian tourists.
“The ‘Avenue’ is in a process of full renewal with more than 14 major projects underway, including luxury flagships from LVMH and YSL,” says Nehmé. “It is set to soon be the most desirable retail destination in the world - in time for the 2024 Olympics.”
The Champs-Élysées store is the brand's fifth in the French capital, with others in Place du Marché Saint Honoré, Rue Pavée, Rue Bonaparte and Bon Marché.
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