FRANCE. DFS Group is playing an important consultancy and advisory role to a major redevelopment of the historic La Samaritaine department store in Paris by owner LVMH MoÃ«t Hennessy Louis Vuitton, The Moodie Report understands. Fellow LVMH Selective Retailing subsidiary Le Bon Marché is involved on a similar basis.
The €460 million project involves a hugely ambitious transformation of the 860,000sq ft complex.
Both LVMH and DFS declined all comment when approached by The Moodie Report.
The iconic building has been closed since 2005 due to stated concerns over its safety but is tentatively due to reopen by 2016 subject to overcoming local challenges related to the aesthetics of the development.
Last week the Wall Street Journal claimed that LVMH was planning to include a DFS store, a Louis Vuitton shop and a department store in the redevelopment.
But we understand that the final usage and floor plan of the building is yet to be finalised. It will though involve a range of upscale facilities and services, including a hotel (the Wall St Journal claimed this will be LVMH’s first five-star Cheval Blanc hotel in Paris), shops and offices.
DFS Group’s expertise with foreign shoppers, notably the Chinese, is likely to be key to the project as will Le Bon Marché’s experience in running a high-end Parisian department store.
We’ll bring you more details as this story evolves.
Closed since 2005, La Samaritaine is the subject of a €460 million redevelopment in which DFS is playing an important, though unspecified, consultancy role
Fellow LVMH Selective Retailing subsidiary Le Bon Marché is also involved in the project on a consultancy basis