(LONDON) – Hines, the international real estate firm, has secured luxury retailers Jimmy Choo and Golden Goose Deluxe Brand at Købmagergade 7 in Copenhagen, Denmark on behalf of the Hines Pan-European Core Fund (HECF).
Jimmy Choo is set to open its first store in Denmark at Købmagergade 7 having agreed upon a lease for a 200-square-meter unit. Jimmy Choo encompasses a complete luxury accessories brand. Women’s shoes remain the core of the product offer, alongside handbags, leather goods, scarves, sunglasses, eyewear, belts, fragrance and men’s shoes. The new store is expected to open later this year.
Joining Jimmy Choo is Italian luxury fashion retailer Golden Goose Deluxe Brand. Also opening its first store in Denmark, Golden Goose Deluxe Brand is to lease a unit of 115 square meters and is expected to open later this year. The store will stock the brand’s trademark lifestyle offer including ready to wear accessories and footwear, combined with a modern style yet vintage, worn-out feel.
A spokesperson for Golden Goose Deluxe Brand, said: “With several Flagship Stores in some of the world’s most exclusive cities such as Milan, Seoul, Tokyo, Amsterdam, Zurich, Paris, New York, London, Los Angeles, Venice, Rome, among others, the latest Copenhagen opening sticks to the company’s goal of reinforcing its retail development and worldwide presence.”
In July 2017, Hines, on behalf of its Pan-European Core Fund, acquired a portfolio of four prime retail-led mixed-use assets in Copenhagen. Located on Købmagergade in the heart of the city’s retail core, the portfolio spans 3,200 square meters. The area features a pedestrian shopping street and is home to many of the city’s luxury brands. The acquisition was the first investment in Denmark for HECF and the second investment for Hines, which previously acquired a retail portfolio on behalf of its separate account for Bayerische Versorgungskammer. The company has since made a further acquisition in Copenhagen earlier this year for the Hines European Value Fund.
Peter Epping, Senior Managing Director and fund manager of HECF, said, “The acquisition of the four prime assets in July 2017 represented the fund’s debut investment in Copenhagen where an increasing population, growing catchment and relatively low saturation of retail brands made the area an attractive investment proposition. We are delighted to further improve the retail mix of our portfolio with the additions of Jimmy Choo and Golden Goose.”
James Robson, Hines Nordics country head added, “Located in central Copenhagen, Købmagergade 7 offers an ideal location for iconic brands to launch their offer to the Danish market and we look forward to the stores opening later this year.”
The portfolio of HECF, which was 99.6 percent occupied as of Q1 2018, is currently invested in eight different European countries with a current aggregate value close to €1.2bn. It achieved the highest possible rating of five Green Stars and was named a Global Sector Leader by Global Real Estate Sustainability Benchmark (GRESB) in the 2017 Real Estate Assessment.
Hines was represented by Cushman & Wakefield | Red on the Golden Goose Deluxe Brand lease. Absalon & Co and Harper Dennis Hobbs represented the tenant in the Jimmy Choo transaction.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 201 cities in 24 countries. Hines has approximately $111 billion of assets under management, including $60 billion for which Hines provides fiduciary investment management services, and $51 billion for which Hines provides third-party property-level services. The firm has 108 developments currently underway around the world. Historically, Hines has developed, redeveloped or acquired 1,295 properties, totaling over 422 million square feet. The firm’s current property and asset management portfolio includes 506 properties, representing over 210 million square feet. With extensive experience in investments across the risk spectrum and all property types, and a pioneering commitment to sustainability, Hines is one of the largest and most-respected real estate organizations in the world.
Since entering Europe in 1991, Hines has grown its European platform to include a presence in 55 cities in 13 countries and Hines currently has over €15.0 billion of assets under management in Denmark, Finland, France, Germany, Greece, Ireland, Italy, Netherlands, Norway, Poland, Spain and the United Kingdom.
About Jimmy Choo
Jimmy Choo encompasses a complete luxury accessories brand. Women’s shoes remain the core of the product offer, alongside handbags, small leather goods, scarves, sunglasses, eyewear, belts, fragrance and men’s shoes. CEO Pierre Denis and Creative Director Sandra Choi together share a vision to create one of the world’s most treasured luxury brands. Jimmy Choo has a global store network encompassing more than 150 stores and is present in the most prestigious department and specialty stores worldwide. Jimmy Choo is part of the Michael Kors Holdings Limited luxury fashion group.
About Golden Goose Deluxe Brand
GGDB was founded in 2000 by two young Venetian creatives who started out of passion and dedication what quickly became one of the most successful independent Italian brands of the last decade.
The peculiar mark of GGDB is founded on the constant search of a “vivere” that goes further than fashion, a “WE” mentality encompassing a strive for artisanal perfection and community building, artistic engagement, and family values.
Craftsmanship, innovation, highly selective distribution, very limited PR communication: the brand identity has always propelled from the garments, awarded by customers loyalty, and widespread yet selective communication tools. In less than 10 years the company has managed to create a total ‘look’ driven business, including shirts and outerwear, leather goods, accessories and, of course, the sneakers line, the brand’s biggest hit within the global fashion distribution.