Gucci owner and global luxury group Kering has purchased the Tod’s Omotesando building through a special-purpose company. The seller was a subsidiary of Tod’s.
The 7-story Tod’s building was designed by Toyo Ito and built in 2004. It has a total floor area of 2,546 square meter (approx. 27,395 sq.ft). This was the brand’s flagship store in Japan. It fronts onto Omotesando Avenue – a tree-lined street lined with boutiques from the top luxury brands and housed in buildings designed by top international architects.
The monthly rent for shop space fronting onto this street can easily go for between 45,000 ~ 60,500 Yen per square meter (approx. US$38 ~ $51 per square foot).
Back in early 2014, Kering acquired the former Benetton Omotesando building across the street. It is now the Saint Lauren store.
Nikkei Business Publications, March 18, 2020.
Japan Real Estate Institute, 2019 Retail Rental Market Report for Omotesando.
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