1970s–present: Decline, closure and reopening
From the 1970s the company's profits began to decline.
Samaritaine was a founding anchor store at Les Quatre Temps in 1981, but the store closed two years later.[6]
Since 1990 the buildings have been listed as a monument historique by the French Ministry of Culture.[7]
A majority stake in La Samaritaine was purchased by LVMH in 2001.[8]
The store was closed on 15 June 2005, as the building needed urgent renovations to mitigate fire safety hazards.[9] However labour unions believed it was because of a restructure of the store.
LVMH purchased the remaining shares in the department store from the Cognacq-Jay foundation in late 2010, giving LVMH full ownership of the department store.[2] The redevelopment was planned to begin in 2011.[10]
In January 2015 work on the store was halted again after building permission was revoked by a French Court.[11][12] Work started again despite opposition to the new facades designed by Japanese architecture firm SANAA.[13] The mayor of Paris Anne Hidalgo supported the plans.[14]
After sixteen years of closure, the department store was reopened to the public in June 2021, now co-branded as part of DFS.[15] The store was reopened by French President Emmanuel Macron and the CEO of LVMH, Bernard Arnault.[16] The buildings now include a Cheval Blanc hotel, nursery, offices and social housing.[3][17]
As of 2024 the store is struggling to attract customers.[18]