Ingka Centres, part of the Ingka Group, has announced the acquisition of one of Paris’ largest and most dominant inner-city shopping destinations, Italie Deux together with the recent high-street extension ItaliK, and the neighbouring office complex Apollo.
All three assets will be united into Ingka Centres’ first urban meeting place in France. Sustainability will be at the forefront in line with Ingka Centres’ ambition to achieve 100 per cent renewable energy by 2030.
The mixed-use development has a strong mix of flagship retail, leisure and dining options that attract more than 11 million visitors annually. Current retail tenants include Zara, Sephora and Carrefour, alongside a 1,000-seat theatre, Le 13ème Art, offering an exciting cultural scene in Paris.
This becomes the fourth urban meeting place acquisition strengthening Ingka Centres’ portfolio, following Livat Hammersmith in downtown London, which recently celebrated its one-year anniversary, Toronto and San Francisco. Ingka Centres is also continuing to develop larger new-build meeting places in markets such as India and China, tailoring its approach to local needs.
Cindy Andersen, Ingka Centres’ Managing Director, said: “Paris is famous for its unique vibe that brings people together and inspires great ideas. Italie Deux is one of the premier retail destinations in Paris, known for its mix of shopping, food and culture, and we are excited to continue to develop its offer with an affordable, sustainable range of destination retail, culinary experiences and amenities to help our partners and communities to thrive.”
