Galeries Lafayette will sell their emblematic store on rue de Rivoli. The group announces this Thursday that it has entered into “exclusive negotiations with the Société des Grands Magasins” to sell the BHV (Bazar de l’Hôtel de Ville) Marais, which it has owned since 1991. The future buyer is a company specializing in large business in the city center.
Behind this decision, there is the desire of the Galleries to bail out their cash, badly damaged by the health crisis. “The step we are considering today (…) should allow us to (…) free up additional resources to carry them out more quickly by definitively turning the page on Covid and its impact on our activity” , assures Nicolas Houzé, CEO of the group.
International priority
The other explanation put forward in a press release published by the brand is the desire to prioritize international development in order to “promote the brand beyond borders in territories with high potential, such as China, India or the Middle -East. »
“We are convinced that a large brand like BHV Marais has everything to meet the new expectations of consumers”, assures Frédéric Merlin, president of the SGM Group and future owner of the store. Regarding the future of the latter, he specifies that he wants to offer a “commerce dedicated to Parisians, modern, friendly and innovative on sites that are real places to live, open to new urban trends”.
The two groups know each other well: seven stores in the Galeries Lafayette network in France are affiliated with SGM. “The BHV Marais is a department store whose DNA is marked by the Parisian spirit,” rejoices Emmanuel Grégoire, first deputy mayor of Paris, “standing ready to work with the future buyer to support this project, in respect for this unique architectural and intangible heritage”.
The BHV store located in the Parly 2 shopping center in Chesnay-Rocquencourt in the Yvelines, operated by the company Westfield, is also concerned by these negotiations. It is part of the same BHV Marais brand, and will therefore also be sold to the SGM group.