Richemont is planning to open a 2250m² multi-brand watch store in central Paris, which is set to become the largest retail space of its kind in the world.
The luxury goods group will spend EUR 70 million turning the iconic ‘Old England’ store in La Madeleine into a flagship for the brand. Reports in French press La Tribune said Richemont is willing to pay up to EUR 15 million for the current tenant to vacate the premises.
With the prestigious address and close proximity to Paris’ Printemps and Galeries Lafayette department stores, it’s no wonder Richemont is so keen to secure a spot in the premier shopping district.
Richemont is yet to confirm whether the retail space will feature concessions for watch brands from outside the company portofio. The Swiss luxury goods holding company owns some of the world’s most prestigious watchmakers, including Cartier, Vacheron-Constantin, Piaget and Jaeger-LeCoultre.
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