Galeries Lafayette Sells Its BHV Marais Department Store in Paris to Focus On Developing Its Core Brands

On February 16, the French department store group Galeries Lafayette announced that it would sell the BHV Marais department store located on Rue de Rivoli in Paris. The group is currently in exclusive negotiations with the buyer Société des Grands Magasins (SGM). In an official press release, Galeries Lafayette stated that the move “would enable the company to focus its efforts and available resources on its eponymous brand, rebuild its cash flow in the wake of the fierce blow from the Covid crisis and speed up work on its priorities.”

BHV Marais, formerly known as “ …