MILAN — The city of Milan has ended the call for bids for two commercial spaces inside Milan’s Galleria Vittorio Emanuele II, the historic shopping arcade that recently underwent a makeover financed by Prada, Versace and Feltrinelli.
Firms interested in renting the two lots were required to file their proposals to city officials this week, in a series of envelopes containing administrative information, project descriptions and financial details.
In March, when the city published the call for bids, assessor Daniela Benelli stressed the need for high-quality brands or businesses that fit the Galleria’s role as a “showcase” of Milan’s best.
Having opened the administrative packages on Tuesday, officials accepted all eight of the proposals for Lot 1, a 10,390-square-foot retail space spanning five floors. The bidders were identified as Capri Srl (for the Alcott and Gutteridge brands); H&M; Hugo Boss; Valentino SpA; Salvatore Ferragamo; Hexagon SpA (for Kiko); Kering and Massimo Dutti.
Should the last two win, they would be required to give up their existing Galleria spaces — Kering’s Gucci has a boutique on site — as current tenants are banned from snapping up new spots.
The single candidate for Lot 2, a 12,034-square-foot food service space also spanning five floors, was celebrity chef Carlo Cracco, and he automatically won the bid.
The eight groups vying for Lot 1 will now wait as city officials study their proposals and assign points for various aspects, such as “Made in Italy” product excellence, opening hours, projects’ aesthetic appeal and accessibility, and examples of other retail spaces each bidder has successfully developed.
A spokeswoman for the city of Milan said the appraisals will take place over the next several weeks. The final stage, an evaluation of financial proposals, will be open to the public.
Mercedes-Benz occupies Lot 2, while the State Mint and Polygraphic Institute and Bar Sì are in Lot 1. Minimum rent for each is set at more than $1 million a year. Winning bidders have the spaces for 18 years.