2023-11-10 18:38:42
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Threatened with disappearance after more than 160 years of existence, the Bazar de l’Hôtel de Ville (BHV) was definitively ceded to the Société des Grands Magasins (SGM). Negotiations had been going on since February.
In exclusive negotiations since the beginning of the year with the real estate company of Lyon origin SGM (Société des department stores), the Galeries Lafayette group announced this Friday that it had definitively sold the BHV Marais (Bazar de l’Hôtel de ville) to this the latter, managed by a family of thirty-somethings, Frédéric and Maryline Merlin.
« The Parly 2 store (located in the Westfield shopping center in Chesnay-Rocquencourt in Yvelines) is also affected by this operation », specified Galeries Lafayette. Although both parties remain silent about the amount of the transaction, it was estimated at the start of the year at several hundred million euros, for a group with a turnover of around 300 million euros.
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In loss for a decade, the emblematic department store in the Marais district has suffered in recent years from competition from e-commerce, as well as, according to management, from traffic restrictions on Rue de Rivoli which considerably complicate its access by car. . By drying up tourist and local flows, a boon for many department stores before Covid, the pandemic had ended up weakening the economic performance of one of the capital’s flagship addresses.
The buyers know Galeries Lafayette well, wishing to refocus on their most profitable stores and having already sold them seven of their eponymous points of sale in the region at the end of 2021 (Angers, Dijon, Grenoble, Reims, Le Mans, Orléans, Limoges, etc.). ). SGM also owns around ten shopping centers, mainly in the far north and east of France.
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