Paris: The officially sold BHV Marais turns the page on its history

The page has officially turned. After thirty-two years under the control of the Galeries Lafayette group, the Bazaar de Hôtel de Ville (BHV), a monument to Parisian commerce, and the Marais district where it is located (4th), became the property of the Société grands store (SGM), a family business specializing in on the restoration of commercial assets in the city center.

“The Galeries Lafayette group announces the completion of the sale of BHV Marais to the SGM group, a family-owned company specialized in large city center retailers, headed by Frédéric Merlin, following the receipt of approval from the competent regulatory authorities. The Parly 2 (Yvelines) store is also affected by this operation,” the group indicated in a press release published this Friday.

“A new chapter opens for this iconic department store in the center of Paris, which will soon celebrate its 170th anniversary. welcomed the Mayor (PS) of the Paris Center this Friday, Ariel Weil. Long live BHV and the DIY section in the basement, my favorite! »

The 31-year-old boss at the head of SGM

The SGM group entered into exclusive negotiations with Galeries Lafayette in February last year. The takeover includes “the BHV brand, which is part of the Parisian heritage, a website whose sales figures continue to grow, and a purchasing center,” its young boss, Frédéric Merlin, 31, who shares group leadership with his sister, told Le Parisien .

The SGM group already has seven stores previously owned by the Galeries Lafayette group – in Angers, Dijon, Grenoble, Le Mans, Limoges, Orleans and Reims. He initially distinguished himself by purchasing shopping centers in medium-sized cities such as Chalons-en-Champagne or Saint-Nazaire.

Expansion project suspended

He noted earlier this year that the new buyer’s goal was to “preserve the DNA” of the major retailer founded in 1856 and retain all 1,300 positions it operates today. BHV now has to find a “path to profitability” by capitalizing on its strengths: “DIY, Home, Decor, Culture and Leisure,” defined Frédéric Merlin.

The sale is also likely to reshuffle the projects on the Parisian department store’s agenda. The main one, the extension of BHV Homme, which involved the demolition of the building located at 42 rue de la Verrerie, was fully defended by the Lafayette group, which faced the reservations of the City and the Commission of Old Paris. The project is not subject to the local “bioclimate” urban planning plan, which governs future urban planning regulations in Paris.