Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We use cookies to personalise your experience; learn more in our Privacy and Cookie Policy. You can opt out of some cookies by adjusting your browser settings; see the cookie policy for details. By using this site, you agree to our use of cookies.

Dior and Fendi to pay record-breaking rents

 Luxury brands Dior and Fendi will pay record-breaking rents for shop space in Milan’s Galleria Vittorio Emanuele II shopping centre after winning an auction.

Dior will spend over €5m (£4.1m) a year over the next 18 years to rent a shop in the centre, according to the Guardian. Fendi will pay €2.4m (£1.9m) a year.

Starting prices at the auction for Dior’s new store, which is currently home to Versace, began at €950,000 (£789,000) and attracted 36 bids before being won by the brand. Fendi beat 28 bids for its smaller new store, which is occupied by Armani, and started at €872,000 (£725,000.)

Galleria Vittorio Emanuele II is also home to retailers including Prada, Gucci and Louis Vuitton. 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.