Dior and Fendi to pay record rents for space in Milan's Galleria mall

Shops in landmark building snapped up in unprecedented city council auction

Dior and Fendi will pay record-breaking rents for coveted shop space in Milan’s renowned 19th-century Galleria Vittorio Emanuele II shopping arcade after winning an unprecedented auction.

Dior, the French fashion house, will spend just over €5m (£4.1m) a year over the next 18 years to rent a shop in the centre of the elegant marble-floored, glass-vaulted arcade, while its Italian counterpart will pay €2.4m for its new premises.

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from Fashion | The Guardian https://ift.tt/2UZ5mzL
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