PARIS : High-end French department store chain Galeries Lafayette said it was in exclusive talks to sell the well-known BHV Marais lifestyle store in Paris to Groupe SGM (Société des Grands Magasins), a family-run specialist urban retail company.The financial details were not disclosed.The deal w
PARIS : High-end French department store chain Galeries Lafayette said it was in exclusive talks to sell the well-known BHV Marais lifestyle store in Paris to Groupe SGM , a family-run specialist urban retail company.The deal will allow Galeries Lafayette to focus on its flagship Boulevard Haussmann store and its network of 17 other flagship outlets in French provinces and rebuild cash flow depleted during the COVID crisis, said the company.
The aim is to finalise the deal in 2023, provided it gets the green light from competition authorities.
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