Galeries Lafayette Group has announced the completion of the sale of Bazar de l’Hôtel de Ville (BHV) to Société des Grands Magasins (SGM), a family-owned company specializing in city center commerce. BHV, the second oldest department store in Paris, after Bon Marché, will now join SGM, marking a new chapter for the iconic store. The sale, which includes the Parly 2 store, was announced last February and has now been finalized.
The transition is seen as a positive development by Galeries Lafayette Group, who stated, “After being owners for 30 years, Galeries Lafayette Group is convinced that SGM will be the most committed and innovative player to continue expanding the potential of these two department stores with the support of their teams.” The move is also welcomed by SGM, who expressed their excitement to be part of BHV’s history and promised to work closely with all employees to continue the growth of the prestigious stores.
This sale represents a shift in Galeries Lafayette’s strategy, which has focused on consolidating efforts and resources on their own brand over the past decade. They have been expanding internationally with locations in Berlin, Beijing, Jakarta, Dubai, Doha, Shanghai, Luxembourg, Mumbai, and New Delhi. Their latest addition is the Shenzhen store, which opened in July last year.
Useful links:
1. BHV Official Website
2. Galeries Lafayette Official Website
