PROMENADEN FASHION DISTRICT IN OSLO ADDS CHANEL TO LINEUP

Promenaden Management sits within parent company MARK, a multiplatform pan-European private equity real estate manager with 10 billion Euro of assets across multiple European geographies and sectors, including residential, urban logistics, offices, and luxury retail.

The new boutique will enhance the district’s impressive array of luxury brands, which include Dior – which just opened last July 2022 covering a total of 1,000 sq m of retail–together with Bottega Veneta, Louis Vuitton, Hermès and Gucci. “It gives me great pleasure to welcome Chanel to the Promenaden district’s impressive portfolio of the world’s leading luxury brands. The opening of the Chanel boutique is a further example of Oslo stepping out of the shadow of our neighbours Stockholm and Sweden to truly position Oslo as the main destination for luxury in Scandinavia.” said Annette Lund, CEO of Promenaden Management.

Josip Kardun, Chief Investment Officer, MARK, said: “The rapid recovery of luxury retail post- pandemic has proven its resilience as an asset class. Promenaden has been instrumental in establishing Oslo on the international luxury map, and the arrival of the powerhouse that is Chanel further cements its appeal to leading international retailers.”

Luxury in Scandinavia

The opening of the new boutique coincides with a booming luxury market in Norway and an influx of luxury brands to Promenaden Fashion District. July 2022 saw the opening of Dior, the French brand’s first boutique in Scandinavia. Further, in November 2021 Louis Vuitton expanded and opened in a 600 sq m new location within the Promenaden portfolio.