PARIS--(BUSINESS WIRE)--Regulatory News:
Beauty products group L'Occitane and renowned pastry chef Pierre Hermé have decided to combine their expertise and their retail universes to offer consumers a unique and innovative shopping experience in a shared store.
"We are partnering with L'Occitane and Pierre Hermé in creating a welcoming and refined concept store. Rotating banners in the Galerie des Champs-Elysées shopping centre is a factor in our strategy to create value," said Pierre-Yves Bonnaud, SFL's Asset Management and Client Management Director.
Other recent arrivals such as Häagen Dazs and a new pop-up store offer attest to the shopping centre's retail appeal. Remodelled by renowned architect Jean Nouvel, it occupies one of the most attractive sites on the Avenue des Champs-Elysées in terms of footfall which reaches five million visitors each year, thanks to the mix of luxury goods and mass market banners in the immediate neighbourhood. The imminent opening of a Galeries Lafayette department store and an Apple store very close to the Galerie des Champs-Elysées will draw even more visitors to this prime section of the avenue.
The Galerie is 50%-owned by Crédit Agricole Assurances, through its life insurance subsidiary Predica, and 50% by SFL.
GALERIE DES CHAMPS-ELYSEES
86 Avenue des Champs-Elysées 75008 Paris – Opening on 8 December 2017
Leader on the prime segment of the Parisian tertiary real estate market, Société Foncière Lyonnaise stands out for the quality of its property portfolio, which is valued at €5.9 billion and is concentrated on the Central Business District of Paris (#cloud.paris, Edouard VII, Washington Plaza, etc.), and for the quality of its client portfolio, which is composed of prestigious companies in the consulting, media, digital, luxury, finance and insurance sectors.
Stock market: Euronext Paris Compartment A – Euronext Paris ISIN FR0000033409 – Bloomberg: FLY FP – Reuters: FLYP PA
S&P rating: BBB+ stable outlook