Just Deux It? Nike Just Spent $997 Million on a New European Headquarters in Paris

The Swoosh makes a big bid for the City of Light.

By Helena Madden 11/10/2019

Contemplating a big purchase? As a wise man (read: brand) once said, just do it.



That’s Nike’s thinking, anyway. The footwear giant seems to have taken its own advice, snapping up a highly coveted address at 79 Avenue des Champs Elysées in Paris for €613 million, or about A$997 million at current exchange, according to Forbes.



The deal is the most expensive in the famed avenue’s history, surpassing Apple’s record-breaking flagship store purchase, which cost a hefty €600 million (about A$976 million). The new location will offer a whopping 4270 square metres, and five floors will be a dedicated “House of Innovation,” a retail model that boasts expert stylists, sneaker customisation and an overall high-tech shopping experience via the Nike app. A “Nike Temple,” the details of which have yet to be released, will also be on the ground floor. Corporate offices will sit above the new store, housing the brand’s European staff members.



“This new flagship introduces a rich and immersive way for consumers to experience Nike that goes beyond commerce,” a Nike spokesperson told Footwear News of the deal. “Whether [you’re] on the cutting edge of fashion or an obsessive footballer, our House of Innovation will have something special for everyone in our most digitally-led experience to date.”



So, why the $997 million price tag? Considered one of the most picturesque streets in the world, the Champs Elysées is also one of the most-traversed roads in Europe, with about 100 million visitors each year. That foot traffic alone makes it an apt vantage point for a new, retail-focused HQ.  But the area’s rich history—the new building is designated a “historic heritage” site—makes the real estate even more exclusive. (And the Arc de Triomphe adjacency certainly doesn’t hurt.)



Nike projects that the European flagship will open in December 2019. In the meantime, you can scope out the brand’s other House of Innovation locations in Shanghai and New York.

ADVERTISE WITH US

Subscribe to the Newsletter

Stay Connected

You may also like.

Salvatore Ferragamo Taps Maximilian Davis For Creative Director Role

It’s one of a number of moves that signal the historic Florentine house has its eyes on the future.

By Austa Somvichian-clausen

15/03/2022

Luxury Brands Are Closing Boutiques In Russia

Chanel, LVMH, Kering and more have joined the call to close their Russian retail locations in the wake of Ukraine invasion.

By Laurie Brookins

07/03/2022

The Biggest Autumn 2022 Trends For Men

What’s hot for the season ahead.

By Jillian Solazzo

22/02/2022

Orlebar Brown’s Summer Selections

What to add to your wardrobe before the season is out.

By Robb Report Staff

25/01/2022

Virgil Abloh’s Coveted Louis Vuitton Air Force 1s To Be Auctioned

The proceeds from the 200 pairs will be used as money for scholarships.

By Demetrius Simms

21/01/2022

Buy the Magazine

Subscribe to Robb Report today!

Subscribe today

Stay Connected