Published February 16,2023
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High-end French division retailer chain Galeries Lafayette stated it was in unique talks to promote the well-known BHV Marais life-style retailer in Paris to Groupe SGM (Société des Grands Magasins), a family-run specialist city retail firm.
The monetary particulars weren’t disclosed.
The deal will permit Galeries Lafayette to deal with its flagship Boulevard Haussmann retailer and its community of 17 different flagship retailers in French provinces and rebuild money movement depleted throughout the COVID disaster, stated the corporate.
Galeries Lafayette will promote the actual property and business belongings of BHV Marais, positioned on Rue de Rivoli in Paris’ Marais space – a vacationer hotspot – with annual gross sales of round 350 million euros ($375 million), in addition to the BHV retailer within the Parly 2 procuring middle close to Versailles, outdoors Paris.
The purpose is to finalise the deal in 2023, offered it will get the inexperienced mild from competitors authorities.
Galeries Lafayette has owned BHV Marais since 1991. Since 2014, it has accomplished a serious revamp of the shop to bolster its enchantment, organising a number of unique vogue and life-style boutiques and creating the Lafayette Anticipations artwork basis and Eataly Paris Marais meals emporium subsequent door.
Galeries Lafayette stated it’s going to proceed to function Eataly Paris Marais and the Lafayette Anticipations basis.
Galeries Lafayette’s Paris shops compete within the French capital with the likes of Bon Marche and La Samaritaine, owned by LVMH, and the Printemps retailer now owned by Qatari buyers.
Source: www.anews.com.tr
