The theatre was built on the initiative of Paul Fournier and the Lutetia-Empire company which already owned a number of cinemas in Paris as well as two large music halls, the on Avenue Wagram and the
Bobino on Rue de la Gaîté. The architect of the new theatre was Paul Farge who had also designed the renovation of the Empire. The theatre's interior had a pink and silver colour scheme and had a seating capacity of 1500. A smoking foyer and an American bar were located on the first floor. On 14 March 1928 the Folies-Wagram was inaugurated with a gala
revue featuring
Marie Dubas,
Henri Garat, and the comedian Cariel. Later that year, the theatre staged the French premiere of
Oscar Straus's operetta
Teresina. It would be the first of many operettas to premiere there. Prior to World War II, the Folies-Wagram staged primarily operettas and revues. The rare exception was the world premiere on 6 May 1935 of
Antonin Artaud's play
Les Cenci, a violent tale of incest, murder and betrayal. After its summer closure in 1935, the theatre reopened in the autumn as the Théâtre de l'Étoile and continued its repertoire of operettas and revues. In the post-World War II years the Étoile also saw many shows by individual singers.
Edith Piaf appeared in 1945, accompanied on the piano by her protégé for the first time.
Yves Montand had earlier appeared in a show with Piaf and in 1951 returned in a one-man show, accompanied by jazz guitarist
Henri Crolla and the Bob Castella Orchestra. That same year
Charles Trenet made his French come-back with a show at the Étoile after spending several years in the United States.
Marlene Dietrich's show opened in 1959 with an audience that included
Jean Cocteau and
Maurice Chevalier. Increasing financial difficulties led to the theatre's permanent closure at the beginning of 1964. It was later demolished and replaced by an office and commercial building. ==Operetta premieres==