Since the early 2000s, the Champs-Elysées has undergone a veritable metamorphosis. Traditional cinemas and boutiques are gradually giving way to luxury brands, which now occupy a quarter of the world’s most beautiful avenue.
Until the 1950s, the Champs-Elysées avenue was mainly occupied by luxury boutiques and perfumeries. Over time, however, these were replaced by the head offices of major companies, and then by more popular stores (such as the famous Virgin Megastore in the late 1980s), encouraged by easy access with the arrival of the RER A in 1977. Then, the exorbitant rise in rents got the better of the traditional retailers, who are closing their doors one by one: after the Gaumont Marignan cinemas in November 2023 and the UGC Normandie in June 2024, the FNAC also bowed out, on Friday January 3.
Only the big luxury brands and international chains can afford such high rents : what was once a popular night out for Parisians now seems to be reserved for a luxury clientele.
The fifth most expensive avenue in the world
The figures speak for themselves : in twenty years, rents have doubled, now reaching 20,000 euros per m², so much so that the Avenue des Champs-Élysées remains one of the most expensive locations in the world. In 2024, the avenue ranks fifth in terms of highest rental value in the world, behind first place Via Montenapoleone in Milan, followed by New York’s Fifth Avenue, New Bond Street in London and Tsim Sha Tsui in Hong Kong.
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Featured photo : © ABACA Press
