PARIS — Victoria’s Secret has landed in Paris.
The American lingerie label owned by L Brands opened its first Parisian store in Les Halles shopping center in the 1st arrondissement of Paris on Friday.
The 8,600-square-foot space, located three stories below ground in the recently refurbished shopping center, carries all Victoria’s Secret lingerie lines as well as fragrances, skin care and an ath-leisure line Victoria Sport.
The lingerie brand already has stores in France located in the two airports serving the Paris area, Roissy-Charles de Gaulle and Orly, but the space in Les Halles is its first stand-alone boutique.
All three stores were opened in partnership with Italian retail and real estate development firm Percassi, which signed a franchise deal with L Brands in 2015.
Founded in 1976 by Antonio Percassi, the company is known for its beauty brands Kiko Milano, Madina, Womo and Bullfrog and for its role in bringing Inditex’s fast-fashion powerhouse Zara to the Italian market. Percassi has also worked with a wide range of major brands, from Gucci and Ferrari to Swatch, on local retail developments.
Victoria’s Secret, which sells lingerie, swimwear, loungewear, accessories and cosmetics globally, has more than 1,600 doors, in addition to an e-commerce site. In October, the label opened a flagship store in Rome, located in the northeastern shopping destination Porta di Roma.
In February, WWD reported sales have been declining for the last two years as a number of direct-to-consumer start-ups and brands like Aerie continue to take market share with many of them emphasizing their looks for plus-size women.
In May, Leslie Wexner, chairman and chief executive officer of L Brands, sent an internal employee memo saying he was rethinking the annual fashion show, which might signal the end of an era for the lingerie label.