Global Retail City Profiles France
Paris
Paris is one of the world’s leading tourist destinations and along with London, Hong Kong and New York is one of the strongest retail locations globally. The city remains at the forefront of international fashion trends as it continues to attract the biggest retail brands that inevitably look to the city to open flagship stores. Luxury retailers in particular are expanding rapidly into Paris’s prestigious shopping areas and emerging hot spots.
High street The Champs-Élysées is Europe’s most expensive retail location and has recently welcomed new brands such as L’Occitane, CHANEL and Five Guys. Department store Galeries Lafayette is set to follow in 2019. Over the past decade rents have soared to record breaking levels as demand has far outstripped supply, especially on the even-numbered side which benefits from more sun. Paris’s luxury sector is particularly strong, with demand being driven by wealthy visitors from developing countries globally. The Golden Triangle in Paris, particularly the prestigious Avenue Montaigne, remains the top destination for luxury retailers like CHANEL, Louis Vuitton and Prada. The same applies to Faubourg Saint-Honoré, Rue Saint-Honoré as well as Place Vendôme. Beyond these prestigious areas, new districts are emerging and others are expanding or strengthening, including the Opéra and Boulevard Haussmann area and the district of Saint-Germain-des-Prés. Boulevard des Capucines and Place de la Madeleine have also experienced strong demand and welcomed new brands like Vorwerk, Dyson and Café Pouchkine.
Shopping centers Parisians living on the periphery prefer to go to well established shopping centers like Rosny 2 or Vélizy 2. Carré Senart’s 328,300 sqft extension was completed early in 2017. It hosts 65 new shops, including the department store, Galeries Lafayette. The Parly 2 extension was completed at the end of November 2017. The refurbishment of the Forum des Halles was completed in 2016, it was the largest urban development project in Paris for the last 30 years.
Shopping center Belle Épine
Les Quatre Temps Carré Sénart Rosny 2 Parly 2 Vélizy 2
Val d’Europe
Les Forum des Halles Beaugrenelle Source: JLL 2018
Opening year Size (sqft) 1971
1981 2002 1973 1969 1972 2000 1979 2013
Location
1,517,700 1,500,500 1,297,100 1,201,300 1,153,900 1,119,400 892,300 745,900 538,200
Edge of Town Edge of Town Suburbs
Edge of Town Edge of Town Edge of Town Suburbs
City Center City Center
Population 12.2m
Prime rent (sqft per year)
US $2,600 Prime rental information for Champs-Elysées
Key indicators Population (‘000s No.)
GDP per Capita (US$, Real, PPP) GDP Forecast 2018-2022 (% pa)
Retail Sales Forecast 2018-2022 (% pa) Global CBRA Rank (Out of 140 cities)
Rental growth outlook
12,223 63,945 1.8 2.2 3rd
Source: JLL, Oxford Economics (May 2018) Global CBRA Rank = Global Cross Border Retailer Attractiveness Rank
Key retail entrants
Café Pouchkine Elizabeta Franchi Skytour
Kate Spade Vorwerk
David Morris
Key tenants
C&A, Carrefour, Darty, H&M, Desigual, Superdry Auchan, Apple, Fossil, C&A, H&M, Sephora, Zara Apple, Carrefour, Darty, H&M, Hollister Co., Sephora Apple, Carrefour, Darty, Galeries Lafayette, Fnac, Sephora Apple, BHV, Darty, Decathlon, Fnac, Zara
Auchan, Apple, Darty, Desigual, Fnac, GUESS, H&M H&M, Zara, Desigual, Apple, Auchan, Massimo Dutti C&A, Darty, H&M, Fnac, MAC Cosmetics, MANGO
Guerlain, H&M, Hollister Co., Marks & Spencer, Nike, Zara Copyright (c) JLL IP, INC 2018
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