Chanel Buys Smash-and-Grab Boutique at 42 Avenue Montaigne

In a strategic decision that reinforces its commitment to high-profile locations, Chanel has acquired the property at 42 Avenue Montaigne, a premier Parisian address just a block from the bustling Champs-Élysées. Notably, this isn’t new territory for the luxury house—Chanel already occupies a boutique in the building and maintains another across the street at 51 Avenue Montaigne. This latest acquisition comes as European luxury brands fiercely compete to secure prime real estate.

Chanel 51 Avenue Montaigne. Image courtesy: Chanel

However, this isn’t just any property – it’s the same Chanel location that fell victim to a dramatic smash-and-grab robbery earlier this year. In the early hours of the morning, thieves used a vehicle to break windows, swiped merchandise worth between €6-10 million, and fled in a second car, leaving behind a burned-out vehicle as evidence. Despite the theft, Chanel’s resolve to invest in this landmark location highlights its strategic approach to protecting against soaring rental costs and enhancing the shopping experience for its discerning clientele.

Image courtesy: France24

Read also: Chanel Paris Store on Avenue Montaigne Victim of Smash and Grab

Chanel plans to renovate the newly acquired property by 2029, further strengthening its foothold on Avenue Montaigne, one of Paris’s most coveted shopping districts. This acquisition follows a series of high-profile real estate purchases last year in cities like Paris, London, and Biarritz, as part of Chanel’s strategy to secure landmark locations in competitive luxury markets. The move also reflects a broader trend among luxury brands, including LVMH, to heavily invest in real estate and transform their boutiques into immersive destinations that go beyond traditional retail spaces.

As luxury brands like Gucci and Prada also vie for prime locations, Chanel’s latest purchase only fortifies its position. With Paris remaining a key battleground for luxury retail, Chanel’s investment in 42 Avenue Montaigne is a testament to its enduring legacy within the City of Light.