Longchamp wins a spot in famous Milan shopping centre
today Oct 30, 2019
Longchamp has won its ticket to enter Milan’s oldest shopping centre, the Galleria Vittorio Emanuele II, or “Milan’s drawing room” as the city’s locals call it. The gallery connects Milan’s cathedral to the Scala theatre and hosts some of the world’s most prominent luxury brands.
Longchamp has been awarded a space of 95 square meters in the gallery, currently occupied by Stefanel, for an annual rent of €760,000 ($845,112).
The basis of the call for offers, which is fixed by the city of Milan which owns a commercial area measuring 50,000 square meters in the historic gallery, was set at €750,000 per year. Around 10 candidates were in the running to rent the space including the shirt-specialist Camicissima, Porsche Design Italia, and the jewellery brand Damiani.
The spot in the gallery now allocated to Longchamp is the smaller out of the two that were recently auctioned and includes a window display area, a basement, and a mezzanine. Stefanel’s current store in la Galleria covers 568 metres squared and three store-front window displays. The second, larger lot of Stefanel’s space that was up for auction measures 473 square metres and has yet to find a taker.
Longchamp won the bid for the space in the gallery mainly due to the project it proposed for the space, the city of Milan said in a statement. In the ranking to choose a tenant, Longchamp had, “a slightly lower financial offer compared to the [business that came in] second but, for its total number of points provided by the technical commission, it was the quality of its commercial proposal that decided it.” In order to win the tenancy, candidates could obtain a maximum of 60 points for the technical offer (its commercial project) combined with a maximum of 40 points for the financial aspect of its offer.
Longchamp already has a boutique in Milan located on the luxury shopping street Via della Spiga, part of Milan’s fashion quarter.
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