The PPR offices are to be located in renovated historical buildings and in two new structures that are being built in a similar style, Allianz stated.
Renovations began in June 2011 and are due to be completed at the end of 2013, with PPR expected to move its headquarters there in 2014, the real estate firm added.
A spokeswoman for PPR said the French retail-to-luxury conglomerate would move its corporate offices, presently located at 10 Avenue Hoche on the Right Bank, but had yet to decide if any of its brands would follow suit. She declined to detail the value of the lease.
According to sources, PPR has considered housing personnel from some of its Paris-based brands, which include YSL, Balenciaga and Boucheron, at the new site, a stone’s throw from the swanky department store Le Bon Marché.
Meanwhile, Slimane, who relocated to Los Angeles and pursued a career in art making and photography since exiting Dior Homme in 2007, has decided to continue to make California his creative hub.
Since being appointed at YSL in February, Slimane also spent time working out of the Paris offices of Artémis Group, the holding company for PPR. It is understood he plans to use salons there at 12 Rue François 1er for fittings, while ateliers for YSL continue to be based at its current headquarters on the Avenue George V here.
Slimane has a passion for big cities with dynamic art and music scenes. During his Dior years, he gleaned creative inspiration from Berlin and London, and published books of photography devoted to youth culture in those capitals.
Designers at certain European houses do not necessarily design in the cities where their brands are based. Phoebe Philo, for example, works out of London for Paris-based Céline.
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