After the business premises, the walls: the BHV department store is completely changing its pavilion

Their sale has been stalling for more than two years and until now they remained the property of Galeries Lafayette, valued at around 300 million euros according to Challenges magazine, which closely follows the brand.

The acquisition transaction, however, remains "subject to the establishment of additional bank financing," the two buyers stated in a joint press release, in which they indicated that SGM "will remain the majority shareholder" at "the end of the transaction."

According to Challenges, SGM—a company founded in 2021 by two thirty-something siblings, Frédéric and Maryline Merlin—had been trying to finalize the acquisition of the BHV Marais retailer for over two years. The catalyst came from the Caisse des Dépôts, which agreed to support SGM as a minority shareholder.

François Wohrer, Investment Director of Banque des Territoires, considers this project as "a unique opportunity to make this emblematic location a driving force of commercial dynamism in the heart of Paris."

Facing post-Covid difficulties, the iconic Bazar de l'Hôtel de Ville left the Galeries Lafayette umbrella in 2023, after the brand carried out a series of renovations to revive the store before selling it.

BHV's difficulties continued despite the change of ownership.

Staff representatives had raised concerns about the health of BHV during 2024, arguing in particular that some suppliers were struggling to get paid since the change of ownership.

But in January 2025, SGM claimed that BHV Marais had returned to profitability, without publishing comprehensive results.

The announcement of exclusive negotiations between SGM and Caisse des Dépôts comes shortly after the arrival of a new director at the helm of BHV: Karl-Stéphane Cottendin, tasked in April with "building the BHV of tomorrow," less than two years after the appointment of his predecessor.

Created in 1856

"The project involves a profound transformation to meet new urban uses and consumption patterns. The goal is to make this legendary site a sustainable, accessible, and useful place for all visitors," SGM and Caisse des Dépôts stated in their press release regarding the legendary Parisian store.

"The return to profitability that we have already begun gives us the legitimacy and the means to sustain this ambition," insisted Frédéric Merlin, president of SGM, on Tuesday, quoted in the press release.

SGM is a commercial real estate company that currently owns and operates the BHV brand, the BHV Marais and BHV Parly 2 stores, and owns seven Galeries Lafayette stores.

The second oldest Parisian department store after Bon Marché, BHV was founded in 1856 by a merchant from Annonay (Ardèche), François Xavier Ruel, who came to try his luck in Paris after meeting his wife, Marie-Madeleine Poncerry, In Lyon.

It was the latter who took over that year a store called "Grand Bazar de l'Hôtel de Ville-Ruel Jeune", at the corner of Rue de Rivoli and Rue des Archives, detailed a work published in 2016, which presented it as "the favorite department store of Parisians".