Galeries Lafayette group sells the men’s BHV building to Xavier Niel

The Galeries Lafayette group, which is in the process of selling off the BHV Marais, has announced the sale of part of its assets, namely the Homme building at 36, rue de la Verrerie, not far from the main building on rue de Rivoli. The bid was won by NJJ Verrerie, a company managed by NJJ Holding, controlled by Xavier Niel.

According to sources close to the matter, the French businessman and billionaire reportedly paid around 50 million euros to acquire this 8,500-square-meter building where BHV’s men’s offer is sold. Xavier Niel, husband of Delphine Arnault, is active through his investments in telecommunications, real estate (URW in particular), and the press (Le Monde, Nice Matin…).

The press release, more than succinct, makes no mention of Xavier Niel’s intention to take over this four-storey building, which combines a modern architectural element with a Haussmann-style section. It has an entrance on rue de la Verrerie, as well as an entrance on rue du Temple.

BHV’s men’s range (clothing, shoes, accessories, etc.) is to be transferred to the main building.

The men’s building was therefore not included in the scope of the takeover of the vast rue de Rivoli building, which has been operated by the SGM group since 2023. For the past two years, the Lyon-based property company has been trying to raise the funds needed to acquire the 45,000-square-meter premises of this retail behemoth. In mid-June, it announced that it had entered into exclusive negotiations with Banque des Territoires (an offshoot of Caisse des Dépôts) to put together the financial package, which still needs to be backed up by additional bank financing.

With the sale of all the BHV buildings, the Galeries Lafayette group has embarked on a policy of concentrating its efforts on its core assets, including its department store chain of the same name and above all its flagship store on Haussmann. It has also stopped operating the Eataly franchise in 2024 and discontinued the Bazarchic destocking site.