You'll Never Guess Who Might Take Over Virgin's Flagship Store

Photo: Transatlantic2020/ YouTube

British retailer Virgin is preparing to ditch its prestigious location on Champs-Élysées in Paris, France, reports Le Figaro.After seeing sales decline year after year, the lease for the 7,000 square meter store has become too expensive to maintain.

Virgin’s president, Jean-Louis Raynard, said they are at work on a new store model. It would be “smaller” and “more segmented.”

Who will take over the location? Le Figaro mentions companies like Forever 21 and Marks & Spencer, but most notably Apple.

Considering that the computer company quite literally built a store inside New York’s Grand Central Station, it’s no stranger to upscale retail locations and could be immediately at home on the famous Parisian street.

NOW WATCH: Tech Insider videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.