Paris, still reeling from the deadly Bastille Day attacks in Nice, got two separate votes of confidence on Monday.
As part of an investor day, Adidas Group reiterated that the French capital stands among six key cities in the world slated for “disproportionally” higher investments in marketing and retail. The other cities are Los Angeles, New York, London, Shanghai and Tokyo.
“The company expects to double its business in each of these urban centers over the next five years,” Adidas said.
According to the German activewear giant, the six capitals play a vital role in “creating trends, shaping global brands and building brand desirability” and are essential “based on their global influence, their commercial relevance and their relevance for sports and street culture.”
Meanwhile, Dean and Dan Caten doubled their presence in Paris by opening a new Dsquared2 boutique at the corner of Rue de Grenelle and Rue des Saint-Pères on the Left Bank. The store showcases men’s wear and women’s accessories on the main floor, and kid’s wear and women’s wear upstairs, including a capsule line of cocktail and evening gowns.
Dsquared2 opened its first Paris outpost in 2011 on the Rue Saint-Honoré, one of the most sought-after addresses in Paris, with Alexander McQueen, Coach and Tory Burch among recent arrivals.
Spanning 2,420 square feet, the new Left Bank unit boasts two entrances, and a design concept by the Caten brothers and Storageassociati, a Milan-based architectural firm. It is expected to generate first-year revenues of 2.5 million euros, or $2.8 million at current exchange rates.
Meant to exalt the high-end offerings, the décor features include Champagne-colored glass for shelves, black lacquered wood for floors and ceppo di Gré marble for the stairs and pathways.
Furnishings include pink velvet armchairs and ocher yellow silk wool carpets in the women’s area, and black leather armchairs and brown silk wool carpets in the men’s department. Photos of the French capital dot the stairwell.
“Paris is fascinating, elegant, memorable. You can breathe history, art and culture in every corner of the city. The city is really welcoming and it is somewhere where you want to spend time; this is the reason why we decided to strengthen our retail presence here,” the designers said.
Dsquared2 last year revealed plans to open 50 stores in five years. Units in Madrid; Ho Chi Minh City, Vietnam; and Vienna are among the 10 planned for this year, topping up the dozen locations that debuted last year, including boutiques in London, Miami and Singapore. The company also entered the Middle East, with new stores in Kuwait, Dubai and Qatar, and plans to up its presence in China beyond its locations in Beijing and Shanghai.
The company was expected to finish 2015 with revenues increasing 10 percent to 230 million euros, or $255.2 million at average exchange rates.
Tourist spending in France fell 17.6 percent in June, according to data from Global Blue, as reported. Europe as a whole is suffering from declining visitors, and skittish locals, in the wake of terror threats. The Nice attack, which claimed 84 lives, was France’s third terrorist tragedy in 18 months.
On Monday, flags continued to fly at half-mast as the country observed a third day of mourning. Paris was subdued, but activity felt normal as summery weather brought out tourists and locals alike to streets and parks.
France called up 12,000 police reservists to help boost security, and Interior Minister Bernard Cazeneuve appealed to “all willing French patriots” to sign up as reservists.