Rolex's second flagship shop in Milan will open together with Damiani, the brand's concessionaire, occupying two of the three shop windows in Galleria Vittorio Emanuele II, currently in use by Stefanel. According to the Municipality of Milan, the source of the news, the Administration assigned the 473-square-metre premises to Damiani after the tender for the space, held in July 2019, had been deserted. In such cases, as stipulated by the regulations in force, the procedure is by direct negotiation. The annual fee will be EUR 875,000, in line with the auction base. As can be read on the Municipality's website: 'The new concessionaire will have to wait for the time required to vacate the building and will have to, as provided for in the call for bids, stipulate a further concession for the spaces on the upper floors of the shop, completing the occupation of the ground floor. In addition, it has undertaken to adopt extended opening hours, in line with the need to extend the frequentation of the Galleria, and to take care of talks for the possible hiring of the employees of the discontinued Stefanel shop'. (Photo: www.comune.milano.it).
