Parisian department store BHV appoints new CEO

The appointment of a new boss does not allay doubts about the real position in which Parisian department store BHV finds itself. Société des Grands Magasins (SGM), the company that now operates BHV, after striking a deal in 2023 with its former owner, the Galeries Lafayette group, has put Karl-Stéphane Cottendin in charge of BHV. Cottendin joined SGM in 2018, and became its COO in 2022. He replaces Emmanuelle Claverie-Veysset, who spent only 16 months at the helm of BHV, as reported by French newspaper Challenges at the weekend.

Claverie-Veysset was not even mentioned in the statement issued by SGM last Friday evening, in which the group did not deny that 2024 was a complex year.

“2024 was a significant transition year, during which, despite some operational difficulties (extended payment deadlines, lack of information from suppliers, delivery delays, etc.), we were able to start making BHV independent of the Galeries Lafayette [group], its previous owner, and to integrate it within the SGM group,” said SGM in the press release. “In 2025, Karl-Stéphane Cottendin will complete this process, notably by deploying a new purchasing office, a new logistics organisation with a dedicated warehouse, and new IT services. He will also work to run the business even more efficiently, controlling overheads and staff costs,” added SGM. The group intends to divest itself of the building home to BHV’s menswear department in central Paris, but the purchase of the department store’s premises has not been finalised yet. The sale agreement’s expiry date is reportedly set for June.

Keen to reassure stakeholders, SGM mentioned its conversations with the department store’s staff, and underlined the initiatives aimed at revitalising the rue de Rivoli store, as well as the opportunities available and the choice of new CEO.

“After making BHV profitable again in 2024, we needed an executive able to complete the department store’s reorganisation, and especially to give a new dimension to its business, to the benefit of our customers and partners. Karl-Stéphane’s significant work in revitalising, upgrading and restoring profitability at [SGM’s] shopping malls and Galeries Lafayette stores since 2018 (11 shopping malls and seven Galeries Lafayette branches), means that [we] are fully confident he will be up to this challenge, and will ensure the new BHV’s long-term growth,” added SGM.

In this spirit, SGM has promised it will unveil an ambitious plan soon, stating that Cottendin must “deploy a vibrant activation programme that will allow Parisians to enjoy new experiences.” He will also need to make the department store’s assortment more appealing by introducing new services and directional brands, expanding its catering options, optimising the customer journey, and launching a new e-shop.