French luxury conglomerate Louis Vuitton will finance the redevelopment of two streets near its upcoming flagship store on the Champs-Élysées, city officials in Paris announced.

The project involves a €2 million (approximately A$3.2 million) renovation of Rue de Bassano and Rue Galilée, situated in the 8th arrondissement, adjacent to the renowned avenue. The initiative is part of the company’s agreement with Paris city hall and has been approved by the municipal council.

According to the resolution, the street improvements are designed to enhance pedestrian safety and promote more sustainable urban mobility. Plans include widening sidewalks to provide more space for foot traffic and installing additional bicycle racks, contributing to efforts aimed at reducing vehicular congestion and "calming" traffic flow in the area.

The redevelopment forms part of a broader trend among luxury retailers seeking to integrate environmental and urban planning considerations into their flagship stores' surroundings. Louis Vuitton’s project is expected to complement the ongoing refurbishment of its large superstore slated to open on the Champs-Élysées.

Local authorities welcomed the partnership with Louis Vuitton, highlighting it as a positive example of public-private collaboration in urban development, particularly in one of Paris’s most prestigious commercial districts. Detailed timelines for the construction and completion of the streetscape improvements have not been disclosed.