French retail group Galeries Lafayette is in exclusive negotiations to sell the historic building housing the BHV department store in Paris. The potential buyer is a British investor with real estate expertise, with the transaction potentially closing in January 2026. The sale follows a 2023 agreement between Galeries Lafayette and Société des Grands Magasins group. SGM will continue operating BHV, with only building ownership changing hands. Located on Rue de Rivoli opposite Paris City Hall, the 45,000-sqm building has been a retail landmark since 1886. Paris Mayor Anne Hidalgo expressed interest, with the city intending to submit a 300 million euro ($325 million) acquisition offer for mixed-use redevelopment.