Frédéric Merlin at the BHV in Paris on November 5, 2025. DIMITAR DILKOFF / AFP
Another sleight of hand by Frédéric Merlin, the controversial head of the BHV department store. Contrary to the purchase agreement made with Galeries Lafayette two years ago, his real estate company, SGM (Société des Grands Magasins), will not acquire the building housing the Parisian department store located in the heart of the French capital. At least, not for now.
The Galeries Lafayette group announced on Saturday, December 20, that it had entered into "exclusive negotiations with an anglophone player with recognized expertise in real estate asset management, with a view to selling the walls of the iconic BHV building as early as January," without revealing the buyer's name. The acquisition will be "carried out by the investor in agreement with the SGM group, which will continue to operate the BHV," said the Galeries Lafayette press release.
SGM said it was "very happy with this new milestone" and "focused on finalizing this deal." However, the group ultimately failed to secure, as initially planned, the necessary funds – around €300 million, Le Monde has found – to become the sole owner of this fammed shopping destination on Rue de Rivoli in the 4thth arrondissement of Paris, which attracts 13 million visitors per year.
