PARIS - Swedish ready-to-wear clothing giant H&M announced plans Wednesday to close its Champs-Elysees store, 11 years after a controversial opening on Paris' most celebrated avenue.
The company said consultations were underway with trade unions on the plans to shut down the site, part of a global transformation to respond better to customer demands and ensure stores are optimally situated.
In April, H&M announced plans to shut 350 of its 5,000 stores worldwide, while opening up 100 new locations.
The retail clothing sector has struggled for years with the rise of online shopping, and the coronavirus pandemic only added to the trouble as stores were shuttered under health orders.
The decision to close the shop at such a prestigious address must have been difficult for H&M as waged a five-year legal battle with the city authorities who wanted to keep clothes shop off the avenue.
H&M said all 105 employees at the Champs-Elysees store would be offered jobs in its other Paris shops.