Nike is expanding its retail footprint overseas after just acquiring one of the biggest spaces in Paris.
According to Forbes, the sportswear giant will soon occupy the building located at 79, avenue des Champs Elysées. This acquisition came in at a recording-breaking $675 million for the 83,000 square feet space with 46,000 square feet expected to be allocated towards the retail front. This building has just gone through a five-year renovation period and will be the Swoosh’s third "House of Innovation" store, which is a follow up to those that are currently open in Shanghai and New York.
Earlier this year, Nike partnered with Foot Locker to open their first-of-its-kind "Power Store" in Washington Heights, New York that integrated the Nike App capabilities to bring digitally-led experiences and services to consumers and Nike Plus members, but official plans regarding the newest Paris store has yet to be announced.
Nike will reportedly open its doors to the newest "House of Innovation" space in Paris sometime in December.