French department store Galeries Lafayette has signed up as anchor tenant of a new Westfield shopping centre in Milan.
The 190,000 sq ft store will trade across four floors, and is only Galeries Lafayette’s second European store outside France, the other being in Berlin. It follows recent openings in Beijing and Jakarta and will make Westfield Milan the first shopping centre in Italy to house a department store.
Westfield and Arcus Real Estate, controlled by Stilo Immobiliare Finanziara, are joint developers of Westfield Milan, which is expected to create thousands of jobs. It will open in 2017 or 2018.
The 1.8 million sq ft centre will cost €1.3bn (£1bn) to develop and will house more than 300 stores, a luxury village, cinemas, 50 restaurants, leisure and entertainment offerings and parking for more than 10,000 cars. It will be situated near the Linate airport, southeast of the city.
Westfield said it expects the centre to turnover more than €1bn (£800m), comparable to Westfield London and Westfield Stratford.
Europe managing director for Westfield Michael Gutman said: “For our first mall on mainland Europe, we will bring all our experience from London and other international centres as we believe the Milan region is dramatically underserved by a quality retail and leisure attraction.”