As Le Grand Réservoir founder, Emmanuel Javal’s position on this property in Rue Duphot forms the second foundation stage of the Le Grand Réservoir concept. In its time, Rue Duphot was considered as a second-rate area that could never compete with the main thoroughfare, Rue Saint Honoré, for luxury brands.
The challenge was to consider that what made this place special was, in fact, the product, far more than its location. The strategy consisted of capitalising on its proximity with the luxury industry positioning of the Rue Saint-Honoré, by securing an iconic player to make it feel like a proper destination.
The property development was sold to LVMH in 2012, which bought into this vision, by realising that you didn’t necessarily need to be located on a main street to draw an audience. Footfall appears. Communities seek the out-of-the-ordinary and property is a strategic tool to meet this demand. As such, the story we are creating around a place, has the power to transform it into an attractive destination.