PARIS — BHV Marais is changing hands once again as its management team is set to take control of the retailer and will end its controversial partnership with ultra-fast-fashion giant Shein in an attempt to win back brands and customers.
The Société des Grands Magasins, which acquired BHV Marais from Galeries Lafayette in 2023, said in a statement to WWD on Tuesday that it had accepted a takeover offer led by the store’s current management team, headed by chief executive officer Karl-Stéphane Cottendin, “with the commitment and participation of a large portion of its employees.”
Financial terms were not disclosed.
“When BHV Marais’ management team presented us with their takeover project, we were immediately convinced by their vision and their knowledge of the store. They have built a solid and ambitious project,” said SGM CEO Frédéric Merlin.
The new ownership group includes marketing director Valérie Chaleyssin, artistic director Medy Ty and human resources director Elodie Nho. Together they plan to refocus the 170-year-old Paris institution on its historic strengths in homeware, DIY, decoration, furniture and lifestyle categories.
