Hugo Boss has secured the winning bid at an auction for a space located in Milan’s shopping arcade Galleria Vittorio Emanuele II and covering around 10,294 square feet.
The fashion brand will pay an annual rent of about $3.8 million for the five-story venue, which will feature three windows on the arcade’s main arm leading to Piazza Duomo, the square home to the city’s historical cathedral.
The store, which is occupied by a bar and the National Polygraph Institute and Mint, will carry the brand’s men’s and women’s ready-to-wear ad accessories collections, as well as an area dedicated to made-to-measure. The last floor will host an art gallery showcasing works by the winners of the Hugo Boss Prize, along with a lounge area.
The store is expected to open in 2017. The current tenants’ contracts expire at the end of next year.