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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.
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