PARIS — A new upscale shopping mall on the banks of the Seine River hopes to draw thousands of tourists from the nearby Eiffel Tower and revitalize the Paris neighborhood where it is located, known for its office towers dating back to the Seventies.
The Beaugrenelle shopping center, featuring close to 540,000 square feet of retail and leisure spaces on six floors, recently opened after a 10-year development phase. It replaces the former Beaugrenelle shopping center that opened on the same spot in the 15th arrondissement of Paris in 1978.
Philippe Depoux, chief executive officer of Gecina, the listed real estate investment trust that owns a 75 percent stake in the project, said it cost 500 million euros, or $683.75 million, and was the largest opening of its kind in the French capital since Italie 2 in 1976 and the Forum des Halles in 1979.
“Deliveries of this scale happen not even every 10 years, but rather every 30 years, so it is an absolutely exceptional operation,” he said.
The mall hopes to draw 12 million visitors a year initially, rising to 15 million once it hits “cruise speed,” Depoux said.
Now that the project is complete, Gecina — which also owns the building housing the flagship Louis Vuitton store on the Avenue des Champs-Élysées — intends to sell its stake in Beaugrenelle in order to focus on its core segment of offices, said Bernard Michel, chairman of the firm.
However, he declined to comment on media reports that potential buyers include Chinese sovereign wealth fund State Administration of Foreign Exchange.
“It’s an ongoing operation with a certain number of investors expressing interest. These investors are either funds or operators in the shopping-center sector,” Michel said. “Given our new strategy, we do not want to keep this project in our portfolio.”
Beaugrenelle expects to draw a large proportion of tourists visiting the Eiffel Tower, which attracts seven million visitors a year, of which two-thirds are foreign. A free boat shuttle service will link the landmark to the shopping center in around 10 minutes.
The center, designed by architecture firm Valode & Pistre and operated by Apsys, features more than 100 brands including Guerlain, Baccarat, Sephora, Michael Kors and Silvera, alongside a flagship Marks & Spencer covering 50,500 square feet, France’s largest Zara store and the first Hollister unit within Paris.
It houses a 10-screen Pathé cinema designed by Ora-Ito, alongside a plethora of hip eateries that will or have opened overlooking the river, including Eclectic, a Seventies-style brasserie designed by Tom Dixon that is the brainchild of Philippe et Fabienne Amzalak, the duo behind Ma Cocotte and Bon.
Its two main buildings, B Magnetic for shopping and B Panoramic for entertainment, are linked by a glass walkway covered in a metallic grid that allows light to stream through. The atrium of the B Magnetic building features a mobile by French contemporary artist Xavier Veilhan.
The roofs of both buildings are covered with more than 75,000 square feet of vegetation and include a community garden and six beehives.
“My personal philosophy to beauty is paying attention to oneself. I love to be outdoors, lots of fresh air, trying to take care of yourself as best you can. I always notice that comes through,” says Felicity Jones, the global face of @shiseido-owned @cledepeaubeauteus, which launches today. Head to WWD.com to read more about the actress’ love for beauty and how she prepared for her new role in “The Basis of Sex,” playing the young Ruth Bader Ginsburg. #wwdbeauty (📷: @dandoperalski)
For men’s fall 2018, @giuseppezanotti drew on elements from streetwear, sport, biker, combat and rock ‘n’ roll. Pictured here are a pair of shoes from the collection, featuring zippers, rhinestones, and silver hardware. Head to WWD.com to see a roundup of the accessories from Milan’s men’s fall 2018 shows. #wwdfashion (📷: Andrea Delb)
To celebrate the 25th anniversary of @ralphlauren’s snowboarding collection, the brand is mining its archives. The iconic brand is reintroducing vintage styles and dropping new designs for a color capsule that will be available in Ralph Lauren stores and @openingceremony on January 25. The capsule will consist of 10 pieces, including the Snow Beach Pullover, pictured here, which is a collector’s item that rapper Raekwon wore in Wu-Tang Clan’s “Can It Be All So Simple” video. #wwdfashion (📷: Tom Gould)
For @rochasofficial’s pre-fall 2018 collection, creative director Alessandro Dell’Acqua channeled the sophisticated and intriguing Catherine Denevue in the film “Belle de Jour.” Polished collarless coats, midi skirts, suits and ’60s graphic motifs were all featured in the collection, adding a sense of discreet luxury. See the rest of the photos on WWD.com #wwdfashion
“We tried to produce clothing of that couture quality, but the most daunting part was that we only had a matter of days [to do it],” said costume designer Lou Eyrich, who recreated Gianni Versace’s iconic looks for @americancrimestoryfx. Eyrich searched online retailers and vintage shops for original pieces from the design house and for @penelopecruzoficial, who plays Donatella Versace. Head to WWD.com to read how she created the Versace world. #wwdfashion
Only three months after her stellar debut catwalk season, @kaiagerber has inked her first big design collaboration –– with @karllagerfeld. The collection blends Lagerfeld’s Parisian chic aesthetic and the model’s signature West Coast casual style via RTW, accessories, footwear and more. The #KarlLagerfeldxKaia collection will launch in September with a series of events. Get all the details on WWD.com. #wwdnews #wwdfashion
Harrods plans to remove the famous statue of Princess Diana and Dodi Al Fayed from the bottom of the Egyptian escalators and hand it back to Mohamed Al-Fayed. “We are very proud to have played our role in celebrating the lives of Diana, Princess of Wales and Dodi Al Fayed at Harrods and to have welcomed people from around the world to visit the memorial for the past 20 years,” said Michael Ward, Harrods managing director. “With the announcement of the new official memorial statue to Diana, Princess of Wales at Kensington Palace, we feel that the time is right to return this memorial to Mr. Al Fayed and for the public to be invited to pay their respects at the palace.” More on the news, with reporting by @loreleimarfil, at WWD.com. #wwdnews