Citynove AM - Groupe Galeries Lafayette

Name

Citynove AM - Groupe Galeries Lafayette

Legal name

CITYNOVE ASSET MANAGEMENT

Website

https://citynove.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Asset Management

NAICS

Real Estate Property Managers (53131), Offices of Real Estate Agents and Brokers (5312), Offices of Real Estate Agents and Brokers (531210), Residential Property Managers (531311)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate (6500), Services-Management Consulting Services (8742)

akta.pro primary industry

Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)

akta.pro secondary industries

Property Management Advisory & Leasing Administration (FSAEAJAN), Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB), Single-Family Rental (SFR) Property Management (BPAJAFAB), Closing Coordination & Transaction Management (Broker/Agent Support) (BPAJAOAH)

Keywords

• Commercial real estate services
• Asset management
• Property management
• Real estate consulting
• Retail property development

Headquarters

HQ city

Paris, Ile de France

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D, Others

Revenue model

1. Asset Management: Strategic management and development of real estate portfolios belonging to Galeries Lafayette Group entities and external clients, including optimization, value creation, and transformation of department stores, commercial spaces, and mixed-use properties.
2. Real Estate Consulting and Investment Advisory: Bespoke strategic advice on real estate needs including acquisitions, disposals, lease negotiations, and large-scale transformation mandates. Over €1.2 billion in transactions completed across a diverse portfolio.
3. Property Management: Operational management of properties including rent collection, lease administration, maintenance oversight, and cost management for Group entities and external customers. Approximately 220 million euros in annual real estate costs supervised.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Citynove is the in-house real estate arm of the Galeries Lafayette Group, providing asset management, real estate consulting and investment advisory, and property management services for department stores, mixed-use retail, and heritage commercial real estate across France. The firm manages approximately 900,000 m² of retail space, supervises around €220 million in annual real estate costs, and has executed more than €1.2 billion in cumulative real estate transactions on behalf of Group subsidiaries and select external institutional clients.

Product overview

Citynove is a real estate asset management company operating as part of the Galeries Lafayette Group. The company offers three core services: Asset Management (initiating and developing strategic real estate projects with portfolio optimization), Real Estate Consulting and Investment (with €1.2 billion in transactions), and Property Management (managing nearly 900,000 m² with €220 million annual costs). The portfolio includes iconic department stores and mixed-use developments such as Nouvelles Galeries Annecy, Lafayette Anticipations, Eataly Paris, Galeries Lafayette Haussmann, Champs-Élysées flagship, Cours du Marais, Les Appartements, and the Écosystème Le Marais urban ecosystem project.

Differentiator

Problem solved

Functional benefit

Products and services

• Asset Management Strategic initiation and development of real estate projects, including ongoing optimization of property portfolios through market analysis to identify opportunities that enhance commercial performance, delivered to Galeries Lafayette Group entities and external institutional clients.
• Real Estate Consulting and Investment Bespoke strategic advice on real estate needs, including acquisitions, disposals, lease negotiations, and large-scale transformation mandates, with over €1.2 billion in cumulative transactions completed for Group subsidiaries and external clients.
• Property Management Operational management of approximately 900,000 m² of properties including rent collection, lease administration, maintenance oversight, and cost management (around €220 million in annual real estate costs supervised), covering department stores, offices, warehouses, and residential buildings.
• Nouvelles Galeries Annecy 24,000 m² hybrid retail destination in Annecy featuring a department store, 30 retail outlets, leisure, health, and food outlets; a flagship transformation project managed by Citynove.
• Lafayette Anticipations 2,200 m² multidisciplinary artistic creation space designed by architect Rem Koolhaas / OMA, featuring a mobile exhibition tower and production workshop; managed by Citynove on behalf of the Fondation d'Entreprise Galeries Lafayette.
• Eataly Paris 3,500 m² hybrid Italian market in the former Menier chocolate workshop renovated by DATA Architects, featuring 7 catering outlets and 450 seats; managed by Citynove.
• La Maison 1,800 m² hybrid startup hub across three floors above Galeries Lafayette Gourmet, dedicated to Motier Ventures startup founders and their communities; managed by Citynove.
• Galeries Lafayette Champs-Élysées 9,000 m² flagship hybrid retail store designed by Bjarke Ingels Group (BIG) in a reinvented Art Deco building on the Champs-Élysées; managed by Citynove.
• Galeries Lafayette Haussmann (Cupola Restoration) Restoration of the 1,300 m² Art Nouveau cupola at the historic Galeries Lafayette Haussmann flagship in Paris, preserving original stained-glass windows while integrating modern technologies; managed by Citynove.
• Biarritz Bonheur Rooftop 463 m² rooftop project above the Galeries Lafayette in Biarritz offering ocean views, with reinterpretation of original glass roofs and direct restaurant access; managed by Citynove.
• Nouvelles Galeries Bron (Lyon) 37,500 m² major transformation project under Agence Moatti & Rivière (architecture) and Studio Aisslinger (interior design), creating an open, friendly destination with shops, local services, culture, and leisure; managed by Citynove for Keys REIM and Galeries Lafayette.
• Écosystème Le Marais Multifunctional urban ecosystem project in the Marais district integrating the Lafayette Anticipations foundation, Eataly food court, retail stores, and apartments, designed with OMA, DATA, Ciguë, and Jamie Fobert; managed by Citynove.
• Cours du Marais 210 m² elegant promenades designed by Jamie Fobert combining shops and cafés in a Haussmannian setting, recreating the spirit of Parisian passages; managed by Citynove.
• Les Appartements (Marais) 26 renovated apartments in an 18th/19th-century building in Le Marais district offering modernized rental housing while preserving heritage authenticity; managed by Citynove.
• Centre Bourse Marseille Historical shopping center in Marseille built in 1977, with a renovated glass façade featuring 12,122 faceted tiles and 13,500 metallic wave-shaped slats; managed by Citynove.
• Marquise des Galeries Lafayette de Metz 120 m undulating red glass marquee renovation at Galeries Lafayette de Metz designed by Manuelle Gautrand, with a 7.40 m cantilever and 500 m of electroluminescent tubes; managed by Citynove.
• Galeries Lafayette Biarritz (SANS TITRE Artwork) Flagship store in Biarritz featuring the "SANS TITRE" artwork by Pieter Vermeersch on its sea-facing façade; managed by Citynove.

Quantifiable outcome

• 900,000 m² of retail space managed
• +5 more outcomes

Named customers7 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

17 partnerships are on record, tiered core and minor.

• Rem Koolhaas / OMAcoreStrategic or Co-development PartnerPritzker Prize-winning architect and his firm OMA designed Lafayette Anticipations (2018), a multidisciplinary artistic production space in a building from 1891, featuring a mobile exhibition tower and open passageway.
• DATA Architects AgencycoreStrategic or Co-development PartnerDATA (Department of Advanced Typologies for Architecture), founded in Paris in 2010, renovated the former Menier chocolate workshop for Eataly and contributes to the Marais ecosystem project.
• Jamie Fobert ArchitectscoreStrategic or Co-development PartnerLondon-based architectural firm led the redevelopment of Les Cours du BHV/Marais and the Rue des Archives boutique project, revitalizing the spirit of Parisian passages with contemporary brands in historic settings.
• Bjarke Ingels Group (BIG)coreStrategic or Co-development PartnerInternationally renowned Copenhagen-based architecture firm selected by Galeries Lafayette and Citynove to design the flagship store on the Champs-Élysées, a 9,000 m² hybrid retail space in a reinvented Art Deco building.
• Manuelle GautrandcoreStrategic or Co-development PartnerFirst French architect to win the European Architecture Prize, Manuelle Gautrand reinterpreted the exterior of Nouvelles Galeries Annecy (1969 building) with a new interaction with its environment. Also designed the marquise of Galeries Lafayette de Metz.
• Agence Moatti & RivièrecoreStrategic or Co-development PartnerArchitecture firm founded in 2001, leading the transformation of Galeries Lafayette Lyon-Bron and the renovation of Centre Bourse in Marseille. Expertise spans architecture, interior architecture, scenography, and design.
• Atelier BotekominorStrategic or Co-development PartnerArchitecture studio, winner of AJAP 2020 (Albums des jeunes architectes et paysagistes), designed the Biarritz Bonheur rooftop project and collaborated on the Apartments renovation project.
• Studio AisslingerminorStrategic or Co-development PartnerBerlin-based design studio responsible for interior design of the Lyon-Bron transformation project.
• Martin BoyceminorStrategic or Co-development PartnerScottish artist who created three original artworks for Eataly's courtyards and glass roof, complementing the building's architecture.
• 8'18'' MarseilleminorStrategic or Co-development PartnerLighting design studio responsible for the nocturnal illumination of the Centre Bourse facade in Marseille.
• CiguëcoreStrategic or Co-development PartnerArchitecture/design studio contributing to the Marais ecosystem project with a sensitive and precise approach to materials, alongside OMA, DATA, and Jamie Fobert.
• David ThulstrupminorStrategic or Co-development PartnerDesigner responsible for imagining the atmosphere of the inner street, squares, and landscaped surroundings of Nouvelles Galeries Annecy.
• Sabine MarcelisminorStrategic or Co-development PartnerDutch designer entrusted with the creation of interior furniture for Nouvelles Galeries Annecy.
• Nicolas Dorval-Bory ArchitectesminorStrategic or Co-development PartnerArchitect responsible for the Apartments renovation project in the Marais district, combining structural reinforcement with spatial redefinition.
• MBL ArchitectesminorStrategic or Co-development PartnerArchitecture studio (founded by Sébastien Martinez-Barat and Benjamin Lafore) contributing to the Apartments renovation project in the Marais district.
• CUT ArchitecturecoreStrategic or Co-development PartnerArchitecture firm (founded 2005) designed La Maison, a 1,800 m² hybrid space for Motier Ventures above Galeries Lafayette Gourmet, inaugurated in 2025.
• Pieter VermeerschminorStrategic or Co-development PartnerBelgian artist who created the artwork 'SANS TITRE' adorning the sea-facing façade of Galeries Lafayette Biarritz, inspired by a photograph of a sunset (completed 2013).

Scale indicators8 records

Recent moves11 records

Expansion highlights5 records

Direct peers

• Patrimoine & Commerce: Patrimoine & Commerce is a French REIT (SIIC) owning retail parks and shopping centers in France. It is comparable to Citynove as a French retail property owner focused on asset management, leasing, and value creation on retail real estate.
• Carmila: Carmila is a French REIT specializing in retail property assets adjacent to Carrefour hypermarkets across continental Europe. It compares to Citynove as a French-rooted retail real estate owner/manager focused on leasing, asset management, and tenant curation in shopping centers.
• Klépierre: Klépierre is a leading French-listed retail property company owning and managing shopping centers across continental Europe. It directly compares to Citynove as a major French retail real estate operator with significant scale and a focus on asset management and leasing.
• Altarea: Altarea is a French listed real estate group active in retail, residential, and office property development and asset management. It is a direct peer in French retail real estate development, mixed-use transformation, and asset management services.
• Unibail-Rodamco-Westfield: URW is one of the world’s largest owners and operators of flagship retail destinations including in Paris. It is directly comparable to Citynove as a premium retail real estate owner/asset manager with prime urban assets and large-scale transformation mandates.
• Frey: Frey is a French retail real estate developer and investor focused on open-air shopping centers and retail parks. It compares to Citynove as a French retail-focused real estate operator with development, asset management, and leasing activity on retail portfolios.
• Compagnie Foncière Paris (Foncière de Paris): Foncière de Paris is a French REIT focused on Paris and inner-ring office and retail real estate. It is comparable to Citynove as a Paris-based real estate asset manager focused on prime urban property assets and active management.

Broad incumbents

• Gecina: Gecina is one of France’s largest listed REITs, primarily focused on prime Paris office and residential real estate. It is a broader incumbent French real estate player with an in-house asset management function that overlaps Citynove’s expertise in prime urban property management.
• CBRE France: CBRE is the world’s largest commercial real estate services firm with substantial French operations spanning investment advisory, asset and property management, and leasing. It is a broad incumbent peer to Citynove in providing outsourced real estate services to institutional owners and corporate clients in France.
• JLL France (Jones Lang LaSalle): JLL is a global real estate services firm with a major French practice covering asset management, property management, investment advisory, and leasing. It is comparable to Citynove as a provider of asset and property management services to commercial real estate owners in France.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/citynove---groupe-galeries-lafayette
• Instagraminstagram.com/citynove

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Citynove AM - Groupe Galeries Lafayette