PARIS — Historic Parisian department store BHV Marais has appointed Karl-Stéphane Cottendin its new chief executive officer.
The change in top management comes less than a year-and-a-half after Emmanuelle Claverie-Veysset stepped into the role in November 2023 after Lyon-based Groupe SGM acquired the retailer from Galeries Lafayette.
Former Merrill Lynch analyst Cottendin has been with Groupe SGM since 2018, most recently as director of operations.
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“After restoring BHV’s profitability in 2024, we needed a personality who would finalize its restructuring, especially who would give a new dimension to its business, at the service of our customers and partners,” said Groupe SGM cofounder and president Frédéric Merlin in a statement.
The group added that Cottendin will establish a new purchasing organization as well as a logistics center with a dedicated warehouse. He will also be in charge of upgrading IT services.
“He will also work to put in place an even healthier management by controlling overheads and personnel costs (without any redundancy plan, in accordance with the group’s commitments), and an even more efficient organization to give priority to reception, advice and customer experience,” the company said.
“Finally, and above all, he will work on the implementation of an ambitious project to build the BHV of tomorrow, which will be unveiled soon,” it added.
The group positioned 2024 as a year of transition following the acquisition from Galeries Lafayette, though it has been plagued with rumors of unpaid invoices and emptier shelves at the historical location.
Groupe SGM, which stands for Société des Grands Magasins, is a family-owned company specializing in city-center retail owned by Frédéric Merlin. The group owns and operates 11 shopping centers across France, concentrated in mid-sized cities, as well as seven Galeries Lafayette franchise stores. The latter were acquired in 2022 as the department store offloaded its regional stores.