New York, NY and Paris, France (September 30, 2024) — Newmark announces the release of its second research report on the French retail market. Citing strong leasing activity and declining inflation as drivers, the report shows optimism in the retail sector and predicts solid activity for 2024 and into 2025.
“The France retail market has withstood numerous tests and changes in consumer behavior in recent years, and this report shows some of the many reasons we remain optimistic,” said Antoine Salmon, Co-Head of Retail Leasing, Newmark France. “We have seen a diversity of new brands and store types with interest in opening new locations in Paris. With improving unemployment and inflation, along with the rebound in international visitor numbers, we expect to see an active leasing market this year and into 2025.”
Additional highlights from the Newmark France research report include:
- The 120 expansion plans identified by Newmark since the beginning of the year account for almost 1,800 potential new store openings in France by 2024, in a wide range of sectors including food services, sport, pet shops and discount outlets. Several brands continue to expand at a steady pace (Action, Normal). Others have entered the French market more recently and have significant growth ambitions (Krispy Kreme, Venchi).
- France is seeing an even larger influx of foreign retailers opening their first stores this year than in 2023. 43 have already opened since January, including a dozen pop-up stores, some of which are linked to the Olympic Games. The Marais district remains the preferred destination for new arrivals, accounting for 40% of all new arrivals recorded since the start of 2024 in Paris.
- Celebrity-backed brands continue to rise in popularity, with many operating or planning locations in France. Newmark is now tracking 675 celebrity-owned retailers worldwide. In France, Newmark counted 136 celebrity and influencer brands, more than half of which appeared after 2020. Due to its global importance as a tourist destination and its status as the capital of luxury and fashion, Paris is attracting the interest of the most famous international celebrity brands. Some of these have opened or are about to open in Paris such as The Row, the Olsen sisters’ fashion label.
- Just over €1.9 billion in retail property sales have occurred in France so far this year. While this volume is 21% lower than that recorded a year ago, activity accelerated this summer with the completion of several large transactions.
Co-authors of the report David Bourla, Newmark’s Head of Research for France, and Antoine Salmon are among the several new hires who joined Newmark’s recently established Paris, France flagship, which opened in March. The launch of the office attracted several of Paris’ top commercial real estate professionals, including, industry veterans Francois Blin and Emmanuel Frénot to lead the team, Vianney d’Ersu as Co-Head of Retail Leasing and Jérôme De Laboulaye and Nicolas Coutant as Managing Directors.
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries (“Newmark”), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark’s comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform’s global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the year ended December 31, 2023, Newmark generated revenues of approximately $2.5 billion. As of June 30, 2024, Newmark’s company-owned offices, together with its business partners, operate from approximately 170 offices with 7,800 professionals around the world. To learn more, visit nmrk.com or follow @newmark.
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