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Just as Lvmh has acquired the Louis Vuitton building at 101 des Champs Elysées, a Cushman & Wakefield and Mytraffic study reveals a sharp rise in pedestrian traffic on the world’s most beautiful avenue. On the eve of the Olympic Games, the artery is also attracting more retailers than ever, particularly in the luxury sector.
LVMH has just bought the Louis Vuitton building at 101 rue des Champs Elysées, on the corner of Avenue Georges V, as revealed by Glitz and Fashion Network on July 13.
According to the latter, the world’s number one luxury brand paid a hefty sum – 770 million euros – to its current owner, the listed real estate company Gecina, to take over the flagship premises of its flagship Maison…
But Lvmh is not the only one – far from it – to give in to the sirens of the “most beautiful avenue in the world”.
The Champs-Elysées more popular than ever
According to Cushman & Wakefield, the world leader in commercial real estate, and Mytraffic, the European leader in flow analysis, the Champs Elysées are more attractive than ever, both for pedestrians and for retailers, especially luxury brands.
Its pedestrian traffic is at an all-time high, and has more than caught up with the pre-Covid average, with an increase of 80% on that period (which was, however, badly affected by the Gilet Jaunes movement).
This insight comes from the third “The Match of European Arterial Streets” study, freshly unveiled by Cushman & Wakefield, the world’s leading commercial real estate company, and Mytraffic.
This study “compares the dynamics of prime streets in seven European capitals (London, Berlin, Madrid, Rome, Brussels, Amsterdam, Paris), based on a single criterion: the increase in pedestrian traffic over the last 12 months” (May 2022 – June 2023).
Over one million visitors per month
On the Champs-Elysées, footfall over the last 12 months has risen by +15%, a jump of +131% compared with the post-confinement period (May 2020 – June 2021).
On average, a boutique on the famous avenue sees over a million people pass through its doors every month (1,009,000).
The French avenue is the third most dynamic after Amsterdam’s Kalverstraat, where footfall has increased by 30%, but at a lower level than the Champs-Elysées (with an average monthly flow of 726,000 people). Gran Via, in Madrid, was the second-best performer (+26%), with the most impressive average (1,923,000 people!).
Meanwhile, Corso Vittorio Emanuele II in Milan was up +6% (average 906,000) and Le Meir in Antwerp +2% (834,000).
By contrast, Berlin’s Kurfürstendamm was down 12% (688,000 people), and London’s Oxford Street was down 18% due to Brexit. However, the famous British thoroughfare still posted a slightly higher average monthly footfall (1,014,000 people) than the Champs Elysées.
On the eve of the Olympic Games
To further inform their analysis, Cushman & Wakefield’s experts in each country also “deciphered the reaction of players in the commercial rental property market: price trends, retailer and landlord behavior”.
With the Olympic Games just one year away, the Parisian avenue is proving to be a hit with retailers.
“Renowned brands are fighting for available sites. Commercial vacancy is low, and many transactions are taking place“, explains the study.
“10 days after the Disney Store closed, two companies had already made an offer to take over the lease,” explains Christian Dubois, International Partner Head of Retail Services at Cushman & Wakefield France.
Luxury goods and sportswear are driving transactions, “as they are throughout Europe”. Watchmaker Panerai and jeweller Messika are preparing to open new stores on the Champs-Élysées. Adidas will be moving into the Galerie des Champs-Élysées, while the arrival of a Lululemon flagship and the relocation of Footlocker are also on the agenda.
Paradoxically, the study also reveals that rents for temporary stores are soaring in the run-up to the Olympic Games. For 2024, they even exceed those for traditional leases, which is not usually the case…
Read also > India: a booming market for luxury
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Just as Lvmh has acquired the Louis Vuitton building at 101 des Champs Elysées, a Cushman & Wakefield and Mytraffic study reveals a sharp rise in pedestrian traffic on the world’s most beautiful avenue. On the eve of the Olympic Games, the artery is also attracting more retailers than ever, particularly in the luxury sector.
LVMH has just bought the Louis Vuitton building at 101 rue des Champs Elysées, on the corner of Avenue Georges V, as revealed by Glitz and Fashion Network on July 13.
According to the latter, the world’s number one luxury brand paid a hefty sum – 770 million euros – to its current owner, the listed real estate company Gecina, to take over the flagship premises of its flagship Maison…
But Lvmh is not the only one – far from it – to give in to the sirens of the “most beautiful avenue in the world”.
The Champs-Elysées more popular than ever
According to Cushman & Wakefield, the world leader in commercial real estate, and Mytraffic, the European leader in flow analysis, the Champs Elysées are more attractive than ever, both for pedestrians and for retailers, especially luxury brands.
Its pedestrian traffic is at an all-time high, and has more than caught up with the pre-Covid average, with an increase of 80% on that period (which was, however, badly affected by the Gilet Jaunes movement).
This insight comes from the third “The Match of European Arterial Streets” study, freshly unveiled by Cushman & Wakefield, the world’s leading commercial real estate company, and Mytraffic.
This study “compares the dynamics of prime streets in seven European capitals (London, Berlin, Madrid, Rome, Brussels, Amsterdam, Paris), based on a single criterion: the increase in pedestrian traffic over the last 12 months” (May 2022 – June 2023).
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Just as Lvmh has acquired the Louis Vuitton building at 101 des Champs Elysées, a Cushman & Wakefield and Mytraffic study reveals a sharp rise in pedestrian traffic on the world’s most beautiful avenue. On the eve of the Olympic Games, the artery is also attracting more retailers than ever, particularly in the luxury sector.
LVMH has just bought the Louis Vuitton building at 101 rue des Champs Elysées, on the corner of Avenue Georges V, as revealed by Glitz and Fashion Network on July 13.
According to the latter, the world’s number one luxury brand paid a hefty sum – 770 million euros – to its current owner, the listed real estate company Gecina, to take over the flagship premises of its flagship Maison…
But Lvmh is not the only one – far from it – to give in to the sirens of the “most beautiful avenue in the world”.
The Champs-Elysées more popular than ever
According to Cushman & Wakefield, the world leader in commercial real estate, and Mytraffic, the European leader in flow analysis, the Champs Elysées are more attractive than ever, both for pedestrians and for retailers, especially luxury brands.
Its pedestrian traffic is at an all-time high, and has more than caught up with the pre-Covid average, with an increase of 80% on that period (which was, however, badly affected by the Gilet Jaunes movement).
This insight comes from the third “The Match of European Arterial Streets” study, freshly unveiled by Cushman & Wakefield, the world’s leading commercial real estate company, and Mytraffic.
This study “compares the dynamics of prime streets in seven European capitals (London, Berlin, Madrid, Rome, Brussels, Amsterdam, Paris), based on a single criterion: the increase in pedestrian traffic over the last 12 months” (May 2022 – June 2023).
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