Overview
- About 150 employees staged a three-hour strike outside the Marais store on Friday, with the BHV inter-union demanding the Shein project be scrapped and warning it threatens the retailer’s survival.
- SGM, which runs BHV, said the partnership will go ahead and described it as beneficial, adding it has alternative financing options and that products sold will comply with French standards.
- On Wednesday, the Banque des territoires ended negotiations to help buy the building’s walls—an estimated €300 million deal—citing a rupture of confidence and misalignment with its investment doctrine.
- Supplier and tenant fallout has accelerated: brands including the Slip Français, Farrow & Ball, Swarovski, American Vintage, AIME, Culture Vintage and Talm have left or canceled plans, while Caroll and Morgan are reported to be preparing departures; SGM attributes payment delays to a new accounting system.
- Shein is slated to open in November on BHV’s sixth floor and in five regional Galeries Lafayette stores, a rollout facing pushback from local unions and Paris officials as a public petition climbs toward 100,000 signatures.