It may be time for me to start brushing up on my French. Sources “in the know” claim that Apple is planning to open another retail outlet along the Champs Elysées in Paris.
Needless to say, that would be an awesome location, both from a historic perspective and obviously since it’s a major tourist attraction.
According to a report on MacNN, Apple has allegedly set its focus on #103, a six-level building built in 1899 for the 1900 Paris Expo, and currently home to an HSBC branch. The property is believed to have been sold earlier this year for $505 million, but HSBC may choose to lease it for several more years.
Retail rent in the area Apple has chosen is believed to average around $830 per square foot annually, twice what the company is paying for their Opéra location in Paris. The site is still cheaper than it might otherwise be, however, as it is on the south side of the street, and beyond Avenue George V, a distance from the Arc de Triomphe with less foot traffic. It is also comparatively cheap next to Apple’s Fifth Avenue outlet in New York City, thought to cost $1,000 or more per square foot.
Establishing an Apple Store at #103 may required preserving some classic architecture. The building was originally a Belle Époque-style luxury hotel, and still sports sculpted figures on its exterior. Apple may have plenty of time, however, as sources say the store won’t launch until 2016.
What this all boils down to — Apple sees nothing but forward momentum for their global retail operations.
Article Via MacNN
Photo Credit: Shuttle-Paris