French luxury department store Galeries Lafayette will move to the former Virgin Megastore on the Champs-Elysées. It will require a whole range of improvements, which mean it will only arrive on the famous street in 2018.
Expensive rental fee
The rental agreement will be signed by the end of 2014 and it will become the "reference flagship store" for the Galeries Lafayette, in a 9,000 sqm store.
Volkswagen and Primark were also possible additions to the Champs-Elysées, with a possible rental fee of 17 million euro per year. Galeries Lafayette currently runs 250 stores which attract 1 million visitors per day.