Milan, Tod’s moves to the Galleria and Chanel takes its place: record annual rent at 2.350 million euros

from Milan editorial team

Six luxury brands participated in the City Council tender for the three floors previously occupied by the footwear brand. The starting price was 545,000 euros

Chanel wins for an annual fee of 2 million and 350 thousand euros the granting of a 188 square meter shop in Galleriain Milan. Space, now under the Tod’s sign, which will move to the main artery of the Salottowas the subject of an auction which took place today in the town hall in via Larga in Milan. Six luxury brands have participated in the tenderpublished by Palazzo Marino in July and closed in September, and which today fought over, with 31 raises of no less than 50 thousand eurosthe space arranged over three floors (ground, basement and mezzanine) with entrance, double window and overlooking the Gallery. Chanel, with its final offer, has more than quadrupled the value of 545 thousand euros placed at the auction base. The new store will open in the largest portion of the premises currently occupied by the Diego Della Valle brand, whose contract is about to expire.

In fact, for the new use concession, the State property has divided the large Tod’s shop between the Ottagono and via Silvio Pellico into two lots. The smaller portion, the subject of a second tender with awarding to the most economically advantageous tender, was assigned to Damiani, who offered 365 thousand euros for 126 square meters between the ground and basement floors, with two windows in the Gallery on the corner with via Silvio Pellico.

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«The Municipality of Milan – he underlined the Councilor for Heritage Emmanuel Conte – has begun to use the auction tool for prestigious premises in the Gallery in 2019, first among public bodies in Italythanks to the work of the offices of the State Property Management and of my predecessor, Roberto Tasca. After the successes of the beginning and two years of the pandemic, today’s increases confirm how new forms of heritage enhancement can bring benefits to the whole city. The Gallery remains a unique and sought-after place, capable of expressing a commercial promotion value that goes beyond pure profitability and which grows near the Octagon. Without renouncing to protect its historical and cultural identity and the presence of historic shops, the Gallery can continue to be a financial instrument to support services to citizens, especially at a time when needs are significantly growing”.

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November 21, 2022 ( edit November 22, 2022 | 6:58 pm)


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