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Desigual Takes a Local From Under Uniqlo´s Nose

13/05/2014 – Expansion

Desigual will open the largest shop in the world of its chain on the Plaza de Cataluña Square in Barcelona. Before, the premises were taken by Fundación Caja Madrid and along with the Catalonian chain, Japanese Uniqlo bid for lease of  the property.

The desired 3.000 square meter local sits in the corner with the Rambla Cataluña Street. The rental agreement has been signed with a Catalonian family office De Andrés Puyol. The patrimonial society bought a building situated at 80 Paseo de Gracia Street in Barcelona for €46 million and another one at 66 Serrano Street in Madrid for €50 million. Both properties were then refurbished and leased to Louis Vuitton. This is the same family that owned the number 1 of Paseo de Gracia Street in Barcleona, later rented to Apple and sold to Amancio Ortega.

Desigual´s founder Thomas Meyer gave the green light to Eurazeo fund which acquired 10% of the company´s stake for €285 million in line with the firm´s expansion financing.

Desigual earned €828 million in 2013, 18% more than a year before and raised its net benefit by 76% to €129 million.

 

 

Original article: Expansión (by Marisa Anglés)

Translation: AURA REE

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