Nike just bought the most expensive building on Paris’ Champs Elysées for a staggering €613 million (approximately $676 million).

As reported by Forbes, Nike will open its new European headquarters in Paris’ popular avenue. The sportswear giant has bought the most expensive building on Paris’ Champs Elysées, a record that was previously held by Apple, who dished out €600 million (around $661 million) for a new flagship store on the same street. The building will have plenty of retail space, counting around 46,000 square feet, but no news yet on when we can expect the opening.