Fossil - Acquisition of retail space in shopping centres across France
Fossil is an American "middle range" leather goods brand founded in Dallas in 1984. It operates in over 100 countries, 80% in Wholesale Trade and 20% Retail. Their turnover in 2007 was 1.4 billion euros of which one third was in Europe. Their target is to reverse this proportion gradually intensifying opening own stores. In 2008, they instructed us to search for "premium" sites in the best French shopping centers, starting with the Paris region.
Using our knowledge of French shopping centers, we ranked the best performing centers in terms of sales, traffic and performance, as well as the most promising development projects. Then, we prospected developers to negotiate prime locations on the surfaces of which Fossil needed, between 50 and 150m ². We were quickly able to identify good opportunities that we visited with the person in charge of development at Fossil Europe. Having received offers from developers, we analysed these and recommend to Fossil values against market-offers, and negotiated to achieve them.
Between late 2008 and late 2011, Cushman & Wakefield signed
10 deals with Fossil, starting with the Paris region: Forum des Halles, Vélizy2, Passage du Havre, Les Quatre Temps, Carrousel du Louvre, and the "So Ouest" development in Levallois (end of 2012). Then in the provinces: Cap 3000 & Nice Etoile in Nice, and on projects such as Lyon Confluence, Les Terrasses du Port in Marseille (2014). The turnover and returns in France have been highly successful and development will certainly continue.