SFL: L’Occitane and Pierre Hermé Choose Galerie des Champs-Elysées as the Location of Their New Concept Store

PARIS–Regulatory News:

SFL (Paris:FLY):

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 ChampsElysées 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.

86 Avenue des Champs-Elysées 75008 Paris – Opening on 8 December 2017

About SFL

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


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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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