Brookfield Asset Management acquires BHV Marais
The name of the entity that has acquired BHV Marais, an iconic department store in Paris that hosts the first Shein retail department, is now known: Brookfield Asset Management, a global Canadian asset management fund, has acquired BHV Marais from the Galeries Lafayette group.
In a letter to employees dated January 27, 2026, Frédéric Merlin of Société des Grands Magasins (SGM) wrote: “This transaction is now secure, with Brookfield, a leading partner committed to working with us. I will communicate the opening dates for the new Shein spaces in several regional BHV stores as early as next week. This is a deliberate choice. It has a simple objective: to support our stores' activity, attract new customers and create commercial momentum.”
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In the letter, he affirms his intention to focus more energy on its shopping centres and regional BHV sites. A new property director will join the group at the end of the first quarter of 2026.
The transaction is valued at approximately 300 million euros, according to several financial sources. The sale also includes the BHV Parly 2 (Yvelines) property. SGM will remain the tenant.
More than ever, the investor's role extends beyond real estate; it concerns the future retail direction of BHV Marais. In this new setup, will Shein be able to remain? What is the plan for the future?
These questions are particularly pertinent as Brookfield Growth has previously been an investor in some of Shein's projects and initiatives. These include those focused on the energy transition and reducing carbon emissions in the supply chain (source: PR News, 2022).
“This transaction is part of a strategy of continuity and partnership between the acquirer of the property asset and the SGM group, which will continue to operate BHV and develop the department store,” stated the press release from Galeries Lafayette.
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