The renovation of the French historic building will have a refurbishment budget of 750 million euros and will create 1,500 new jobs.
La Samaritaine already has an inauguration date. The LVMH group, owner of this emblematic French building since 2001, finalizes the renovation works that will transform La Samaritaine into a mix-used complex that will house a department store, a luxury hotel and offices, amongst others.
The large-scale renovation project prepares to open its doors in April 2020. The new Samaritaine expects to create 1,500 jobs and will have a refurbishment budget of 750 million euros. Built in the early 20th century, the center was closed in 2005 for safety reasons.
La Samaritaine will have most of the brands owned by LVMH
The new Samaritaine will feature a luxury hotel, offices covering an area of 15,000 square meters, 97 social housing units managed by France Habitat, and a department store that will occupy 20,000 square meters. In the new space will offer more than 600 brands, including most of the brands that are owned by the group.
LVMH revenue was 46.8 billion euros in 2018. The French luxury holding, owner of brands like Louis Vuitton or Dior, ended the year with a 10%. Benefit, on the other hand, increased by 18%, to 6.3 billion euros.