Nike's European headquarters and flagship store will be located on the famous Parisian street.
Nike plans to open a state-of-the-art 21st-century European office overlooking the Arc de Triomphe and just blocks from the Adidas flagship store. The sports giant has also confirmed that the building will be home to its flagship Innovation House.
The 83,000-square-foot (7,711-square-meter) building, located at 79 Champs Elysées, is worth a staggering €613 million ($673 million), a record high for real estate on the legendary boulevard, according to Forbes. By comparison, tech giant Apple bought property on the Champs Elysées for 600 million euros ($659 million), a record deal for Paris.
The heritage building will be the company's third House of Innovation to open in the spring. Others similar Nike outposts already exist in Shanghai and New York.
“This new flagship presents the consumer with a rich and exciting way to experience Nike that goes beyond commerce,” a Nike spokesperson wrote. "Whether you're at the forefront of fashion or obsessed with football, our House of Innovation has something special for each of our most successful digital technologies to date."