BHV Marais turns the page on Shein with the arrival of new management

BHV Marais is preparing to close the chapter on Shein. Société des Grands Magasins (SGM), which has owned the brand since 2023, has agreed to sell the business to the department store’s current management team. This transaction, which is expected to be finalized by the end of July, will mark the end of the partnership with the Chinese ultra-fast-fashion giant and a refocus on BHV’s historic identity.

A takeover led by four BHV executives

The Société des Grands Magasins (SGM) has accepted the takeover offer presented by Karl-Stéphane Cottendin. The former CEO of BHV and the SGM Group has teamed up with Valérie Chaleyssin, Medy Ty, and Élodie Nho to acquire the business operations of BHV Marais and Parly 2. A significant portion of the new entity’s equity will be made available to the approximately 700 employees of the Paris store.

BHV Parly 2 is included in the takeover, while the seven former Galeries Lafayette stores outside Paris, now operated under the BHV brand, remain within the SGM group, where five stores currently still feature a Shein section. This is an important clarification that helps to clearly understand the scope of the transaction.

According to the buyers, this new governance structure should enable the department store to regain financial stability and rebuild a relationship of trust with suppliers, several of whom had complained about late payments in recent months.

For his part, Frédéric Merlin, SGM’s President, acknowledged having made “mistakes” and described the plan put forward by BHV’s management as a “genuine turnaround plan.” He explained that the store’s situation had become more complicated after the failed attempt to purchase the property, which was ultimately acquired by the Canadian fund Brookfield Corporation.

End of the partnership with Shein

This takeover also marks the end of the partnership with Shein. Established in 2025 by SGM, the agreement notably provided for the opening of a large space dedicated to the Chinese platform within BHV. It had sparked strong opposition from numerous brands, unions, elected officials, and fashion industry figures, who criticized the incompatibility between the Parisian department store’s image and the ultra-fast-fashion model.

The controversy led to the departure of several brands, a deterioration in relations with certain suppliers, and the termination of the affiliation agreement between Galeries Lafayette and SGM.

Restoring the image and revitalizing operations

The new owners now aim to refocus BHV on its core areas: home goods, DIY, home decor, fashion, and designers, in order to reconnect with the department store’s DNA. They state their intention to preserve jobs and reestablish sustainable business relationships with the brand’s partners.

With this takeover led by its long-standing executives, BHV Marais is entering a new phase of its development. While several challenges remain, this new leadership intends to build on the legacy of an iconic Parisian retailer to ensure the sustainability of its revival.