Benetton sells Parisian megastore

By

Dominique Muret

Published
Oct 23, 2014

Benetton is continuing to streamline its retail sales network. The Italian fashion company is in negotiations to sell the building housing its flagship store located at 51-53 boulevard Haussmann (9th arrondissement), one of its largest stores in Paris.

According to the Italian business daily Il Sole 24 Ore, Benetton is in exclusive negotiations with "an international investment fund to purchase the commercial property.” The historic building sits on the corner of Rue Auber. 

According to the newspaper, "the negotiations are centered around a price of approximately 180 million euros." The clothing brand opened the 5-floor, 45,000 ft2 megastore in September 2004.

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It is the third sale by the Italian company following the sale of a building on Rome’s Via del Croso to H&M in June 2013, which was to house a Benetton megastore that ultimately never materialized, and that of a building in Tokyo to Japanese investors for an estimated 130 million euros.