Montblanc "Sfumato" collection

Montblanc is opening a new store inside Milan’s prestigious Galleria Vittorio Emanuele II shopping arcade.

The German brand will take over a 842-square-foot space, which has been occupied for more than 50 years by Centenari, a historic store selling art prints.

Montblanc will pay a yearly rent of 209,331 euros, or $223,450 at current exchange rate, double the amount Centenari used to pay for the same space.

“The strategy aimed at increasing the value of Galleria Vittorio Emanuele’s spaces continues,” said Roberto Tasca, Milan’s councilor for public finance and property. “The strategy we adopted is perfectly in line with the guidelines defined by the city council.”