Dior changes plans for new rue Saint-Honoré flagship in Paris
today Sep 9, 2019
Christian Dior wants to boost its presence in Paris. The luxury label owned by the LVMH group is keen to make its mark on rue Saint-Honoré, a highly coveted commercial thoroughfare in the French capital, and has been working on a “major project” on the central Parisian street for more than three years. However, FashionNetwork.com has now learnt that the first address Dior set its sights on has been dropped in favour of alternative premises.
In December 2017, Dior established a first toehold in the area, opening a pop-up store, which is still active, at 384-386 rue Saint-Honoré. The prestigious premises were formerly home to John Galliano’s boutique, and sit opposite Fendi, another label owned by Bernard Arnault's group, very close to Chanel’s rue Cambon store and not far from the Louis Vuitton flagship located between rue Saint-Honoré and Place Vendôme.
At the time, Dior’s former CEO Sidney Toledano, now in charge of the LVMH Fashion Group, told FashionNetwork.com that his intention was to eventually open a Christian Dior flagship at that address. FashionNetwork.com also learnt that the store might have been expanded up to and including number 396 on rue Saint-Honoré, using premises that are all linked to LVMH. Since then however, the group has changed its plans.
At the end of 2018, Christian Dior signed a contract for new premises virtually opposite number 384-386 rue Saint-Honoré, extending over 711 m2 and located on the corner between 261 rue Saint-Honoré and 14/16 rue Cambon, in a building formerly home to a Roberto Cavalli boutique. The Italian label sold the building in 2015, retaining only the store, which closed down in 2018.
“It is actually at this address that we will be opening a flagship store, while the shop at 386 rue Saint-Honoré will be closed down,” the new CEO of Christian Dior, Pietro Beccari, told FashionNetwork.com. "We have no intention of colonising the street!” he added.
The future flagship's retail surface is set to extend to 925 m2, since on July 15 Dior was granted approval by the local commercial planning commission (CDAC) following its application for a retail area extension of 214 m2.
As Jean-Jacques Guiony, CFO of LVMH, remarked last July at the presentation of the group's results for the first half of the year: “Dior has been growing at a faster rate than the Fashion & Leather goods division.” He mentioned also “a certain improvement in the margin” of the label, which became part of LVMH in 2017, and this despite “very significant investments in marketing and commercial operations.”
“We are willing to invest in [Christian Dior],” emphasised Guiony, indicating that the Dior store inaugurated in summer on the Champs-Elysées in Paris will be flying the flag until the renovation of the label's long-established store on avenue Montaigne is completed.
In the meantime, the new arrangements on rue Saint-Honoré, with the Dior store moving a few street numbers along, will free up premises owned by LVMH on a highly desirable commercial street in Paris, premises which will become available for other LVMH labels. Indeed, Celine is soon expected to open a high-end perfumery on rue Saint-Honoré.
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