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PPR in Talks to Relocate Corporate Headquarters

According to sources, the retail-to-luxury group is considering moving to a sprawling development on the Rue de Sèvres in Paris.

RIGHT AND LEFT: Is PPR eyeing a new Paris home on the Left Bank? According to sources, the retail-to-luxury group is in talks that could see it relocate to a sprawling development on the Rue de Sèvres in Paris. It is understood the site would house its corporate headquarters — now located on Avenue Hoche — and possibly office space for some of its fashion properties, which include Yves Saint Laurent and Balenciaga.

 

RELATED STORY: PPR Revenues Rise 15.4% in Q1 >>

 

Known as Laennec and previously home to a hospital, the site features a series of historic stone buildings in cross formations, plus a church. The buildings — a stone’s throw from the swanky department store Le Bon Marché — are to be joined by new luxury residences, dubbed the Paris 7 Rive Gauche project and are being developed by Altarea Cogedim.

A PPR spokesman confirmed that the company is considering moving its headquarters from the Avenue Hoche, but characterized its reflection as “still at an early stage.”

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