When real estate decisions
cannot be improvised.

Strategic advisory in complex, high-impact environments
where real estate becomes a driver of performance.

Start a conversation Explore selected assignments
Scroll

Selected track record

1,000+ Sites opened, restructured or arbitrated across Europe
€200M+ Real estate budget managed annually
COMEX Trusted advisor at executive & board level
Vision

Real estate decisions shape more than space. They shape outcomes.

Retail is not dead. It is often misread. We advise investors, operators and institutions facing complex, high-stakes decisions — where networks, locations and assets demand more than partial financial indicators or short-term reasoning.

No two situations are alike. A place is never just an asset. It is shaped by usage, constraints, flows and human dynamics. Value cannot be decreed — it is built at the intersection of territory, real use and coherent strategy.

"Strategy is clarity under pressure — when it matters most. The field is not an execution phase — it is a tool for understanding, interpretation and decision-making."
Philippe Chaumais — APC Advisory

Thinking long term is not a theoretical stance. It is a strategic requirement. Short-term pressure may produce rapid action, but rarely sustainable value.

APC Advisory is an independent strategic decision advisory structure — neither an execution provider nor a standardised consulting firm. Its role is to enable decisions that are sound, assumed and sustainable over time.

Approach

Supporting decisions where choices have lasting impact

01

Understand the real stakes

Full diagnosis of context, constraints and leverage points: observation of locations, understanding of real uses, analysis of operational constraints, perspective on local context and network dynamics.

02

Frame the right decisions

Structuring decisions at the right level. APC Advisory connects local and global, operational and strategic, short-term and long-term. This elevation allows priorities to be clarified and real risks to be assessed.

03

Drive execution until resolution

APC Advisory does not intervene to produce standardised reports. The objective is to drive execution by confronting scenarios, assessing consequences, and helping leaders arbitrate with clarity.

Selected Track Record

Real estate. Retail. Complex transformations.

25+Years of experience
1000+Locations opened, arbitrated or transformed
20+Countries
200M€Annual budget managed

Types of decisions supported

  • Location, expansion & repositioning strategies
  • Opening / closure arbitrations
  • Real estate strategy restructuring
  • Complex lease negotiation & renegotiation
  • Asset management & value optimization
  • Logistics & supply chain real estate strategy
  • Franchise model evolution
  • Urban planning & CNAC authorisation strategy

Environments

  • International groups (COMEX / Executive Committee level)
  • Retail brands & franchised networks
  • Investment funds & institutional investors
  • Real estate developers, players and landlords
  • Growth, restructuring and transformation contexts
Career highlights
2016 — 2024 International retail group

Group Real Estate Director — Executive Committee

Led global real estate strategy across Europe and the US at executive committee level. Supervised a portfolio of several hundred stores and over 1M m² of logistics facilities. Delivered significant rental savings and logistics optimization through subleasing, restructuring and footprint rationalization. Designed the strategic framework for transitioning from company-owned stores to a franchise model — reshaping the portfolio structure and unlocking a new growth trajectory.

Hundreds of stores 1M m² logistics 200M€ budget 50-person team Franchise model architect
2008 — 2015 Bata · Le Duff Group

European Real Estate Coordinator & Development Director — CODIR

At Bata: led the complete European portfolio restructuring — 350 closures and 180 new openings — including sale & leaseback strategies and the real estate framework for the PSE (Livre IV). At Le Duff Group: directed expansion across 5 brands (Brioche Dorée, Del Arte, Fournil de Pierre, Bruegger's, Ker Soazig) with 20+ openings per year and a new European concept rollout.

350 closures 180 openings 5 brands Sale & leaseback PSE restructuring
2004 — 2008 Gap Inc. · Orange / France Telecom

Real Estate & Construction Director — France & Europe

At Gap Inc.: directed the European portfolio transformation — 50 closures and 35 openings — with new concept deployment across France & UK. At Orange/France Telecom: led the post-merger network densification (Orange + Photo Service), orchestrating 200 store openings and the unification of overlapping distribution networks into a single coherent retail footprint.

Gap Inc. Orange FT 250+ transactions Post-merger integration
1996 — 2004 Bouygues · C&W · CBRE

Development, Investment & Advisory — France & Europe

The other side of real estate: at Bouygues Immobilier — retail park & shopping centre development, tenant mix design, commercialisation to national brands, and sale to institutional investors. At Cushman & Wakefield — retail-investment portfolio transactions including 54 Haussmann, Marks & Spencer, Bally and CGU/Heron portfolios, plus strategic studies on leisure-retail concepts (Heron City) and urban restructuring (Marseille city centre, Toulon Arsenal). At CBRE — industrial & logistics brokerage.

Bouygues Immobilier Cushman & Wakefield CBRE Investment portfolios
Typical engagements

Intervening when decisions cannot be improvised

01 — Where to go

Location & expansion strategy

  • Location selection and prioritisation
  • Territorial arbitrations
  • Expansion strategies
  • Network and usage coherence
02 — What to keep or exit

Network restructuring

  • Network restructuring
  • Site closures & redeployments
  • Difficult but necessary arbitrations
  • Asset repositioning
03 — What to renegotiate

Lease & asset negotiation

  • Retail and office leases
  • Rental conditions & contract terms
  • Value / use / risk assessment
  • Asset repositioning
04 — How to grow

Franchise & network growth

  • Franchise model structuring
  • Affiliation and commission schemes
  • Franchisor / partner balance
  • Sustainable network growth
05 — Perspective

Strategic perspective & speaking

  • Professional conferences
  • Academic interventions
  • Executive seminars
  • Strategic reading of markets
06 — Local representation

Local strategic representation

  • Exclusive local representative for international brands
  • Stakeholder engagement
  • Market entry & development support
  • Trusted, on-the-ground presence
Selected assignments

Mandates where the stakes were real

International retail group · Europe & US
Large-scale real estate strategy — definition & execution
Context Align expansion, cost structure and operational footprint across a fast-growing multi-market environment
Outcome 200+ store openings · €200M annual budget managed · +68% group growth contribution
International retail network · Europe
Portfolio restructuring — underperforming assets
Context Reduce structural costs while preserving market coverage and brand presence
Outcome €47M rent savings achieved · improved portfolio efficiency and cost base
Logistics & warehouse · Europe
Logistics footprint optimization & restructuring
Context Rationalize a 1M m² warehouse & logistics portfolio serving a large European retail network — bridging supply chain performance with real estate cost efficiency
Outcome €36M savings through subleasing and portfolio optimization
Pan-European retail group · Europe
Footprint reduction — closure & asset repositioning
Context Execute large-scale footprint reduction while maintaining operational continuity
Outcome 350 closures · 180 openings · full portfolio reshaping across Europe
Food & restaurant group · Europe
Multi-brand network expansion & concept rollout
Context Structure and scale a multi-brand expansion strategy across markets
Outcome 20+ openings per year · deployment of new European concepts and best practices
Telecom retail network · France
Post-merger network densification & channel integration
Context Integrate and optimize overlapping retail networks post-merger
Outcome 200 store openings · unified distribution footprint across the territory
Corporate group · France
Headquarters consolidation strategy
Context 5 locations, 850 employees, dual headquarters structure creating operational fragmentation and cost inefficiencies
Outcome Strategic plan for a single headquarters, aligning 30,000 m² footprint, organisation and long-term performance — not a relocation, a redefinition of how the company operates
Investment fund · France & Europe
Retail asset due diligence & repositioning advisory
Context Provide investor-side strategic assessment of retail assets — bridging real estate valuation with operational reality and tenant performance
Outcome Independent advisory on 12 assets · repositioning roadmap aligned with market trends and tenant dynamics
Selected insights

A point of view on what matters.

01
Real estate is no longer a cost centre.
It is a performance lever.
For years, real estate was managed as an operational constraint — something to minimise, contain, and report. That era is over. In a world where capital is scarce and margins are under pressure, every square metre carries a financial consequence. The question is no longer how to reduce occupancy costs. It is how to make the portfolio work harder.
02
Store networks are not expanded.
They are continuously arbitraged.
The instinct to open is often the wrong reflex. Growth through addition has limits — in capital, in management capacity, in brand coherence. The real discipline is rebalancing: closing what no longer performs, relocating what can do more, concentrating resources on locations that earn their place.
03
Location is no longer
a real estate decision.
A store opening is never a local real estate decision. It is a capital allocation decision with consequences on supply chain, brand positioning, digital coverage, and long-term lease exposure. Real estate decisions sit at the intersection of finance, operations, and strategy.
04
City centres are not dying.
They are being misread.
The narrative of the dying high street is convenient but misleading. City centres are not disappearing — they are changing. Usage patterns shift, customer expectations evolve, and the old metrics no longer capture what matters. Those who read these shifts correctly unlock value others cannot see.
About
Philippe Chaumais — APC Advisory

Philippe Chaumais

Philippe Chaumais advises on complex real estate situations at decision level — supporting leaders, investors and organisations in decisions that have lasting impact on asset value and network coherence. With 25+ years across every dimension of real estate — retail networks, logistics, investment, development, advisory — and the management of cross-functional teams of up to 50 people at COMEX level, he brings a rare 360° perspective that connects strategy, operations and finance. Independent by structure. Committed by conviction.

His career has been built at the intersection of retail, real estate, territories and development models — from investment advisory at Cushman & Wakefield, retail park development at Bouygues Immobilier, to leading European-scale transformations at Bata, Gap Inc. and Le Duff Group — and eight years directing the real estate strategy of a major listed international retailer at executive committee level. Trained in law (Paris XI) and financial analysis (ESPI), he combines operational depth with analytical rigour.

A rigorous reading of reality — the field always comes before the model

A deep understanding of economic balances across retail, real estate and networks

Constant attention to human and operational impacts — decisions engage people, not just assets

ICSC CNCC / FACT PROCOS EURELIA CDIF
🇫🇷 French  ·  🇬🇧 English (fluent)  ·  🇩🇪 German (written & spoken)
Newsletter
Le Dernier Kilomètre Humain (The Last Human Mile)
A monthly perspective on retail, real estate and the decisions that shape them. 700+ subscribers on LinkedIn.
Subscribe on LinkedIn →
Contact

Start a confidential conversation.

For strategic situations where real estate decisions materially impact performance, capital allocation or risk exposure.
Initial discussions are confidential and without commitment.

Some situations require distance, clarity and speed.

Email
philippe@apcadvisory.eu
WhatsApp Business
+33 744 744 447
LinkedIn
Philippe Chaumais
Digital Card — Scan or Save
Philippe Chaumais
APC Advisory
Founder & Principal Advisor
Assets
Places
Capital

Based in France  ·  Working across Europe