“See you at Feltrinelli in the Galleria.” Soon this phrase may lose its meaning: the Tar judges will decide. Yes, because the landmarks in Galleria Vittorio Emanuele, in the heart of Milan, could change hands: Mondadori, in fact, has seized the space Feltrinelli had occupied since 2006 (previously, Ricordi occupied it). But the last word has not been spoken…
The Background
Let us proceed in order. On June 15, 2018 Feltrinelli’s contract had expired and the tenant had requested automatic renewal. The request, however, was not granted, because this type of renewal is reserved only for the “historic shops,” such as Bocca and Rizzoli booksellers (present in the Gallery since 1936 and 1949 respectively). The space was therefore put out to bid twice (with an opening bid of about one million euros) without success. In the meantime Feltrinelli had filed several appeals with the Tar against the rejection of automatic concession and with the court to contest the occupancy indemnity (a case, among other things, still pending, as reported by Il Giornale).
After Years of Appeals…
We now arrive at the present: after years of appeals, the City (owner of the Gallery) decided to put up for auction roughly one thousand square meters, spanning the ground floor, mezzanine, and basement. An auction to which not just anyone could participate: the Budget and State Property councilor Emmanuel Conte imposed a precise constraint. “To safeguard the cultural identity of the Gallery,” for 18 years that space must be dedicated exclusively to the sale of books, as reported by Repubblica. Moreover, in exchange for the constraint on books, the starting bid was set at a favored rate: 434,090 euros per year.
The Auction Results
So, how did the auction go? Two publishing giants (and players in the book retail market) faced off. At first, the committee evaluated the proposals and Feltrinelli prevailed. But, in the second round, at the auction held on October 19, Mondadori submitted the highest offer; 440,000 versus Feltrinelli’s 434,100. After a series of follow-up bids — within just a few minutes, between 9:56 and 9:59, as reported by Repubblica — Mondadori closed at 22% above the base: 530,000 euros, which over 18 years translates to more than 9.5 million in rent.
The Other Clash
Meanwhile, on the day after a group of teenagers stormed Feltrinelli at Porta Nuova Station in Turin, a minor online dispute on Il Foglio (and a few news agencies) unfolded a distant contretemps between Feltrinelli (with a subsequent clarification) and Mondadori; however, the real clash was linked to the space in Milan’s most coveted Gallery.
Yet, the last word is not yet spoken: Feltrinelli, this year, had already appealed to the Tar regarding the bidding itself, continuing a fight that has lasted eight years. Moreover, at the end of the auction procedure, it was noted in the official record that the five bids “do not constitute acquiescence nor renunciation of some of the actions proposed” (as reported by Il Giorno). In parallel, a legal case also continues over the indemnity Feltrinelli owes the City for occupying the premises without a contract. It seems that the final word will indeed belong to the judges…
The Hoepli Brand in the Gallery?
Meanwhile, according to some rumors (reported by Il Giorno and Il Giornale), Mondadori could occupy the space under the Hoepli brand, which definitively closed the historic downtown bookstore on May 25, after 156 years of history.
Let us also remember that Mondadori is already present in the Gallery with the Rizzoli bookstore, but that is not all. Another large space tied to Segrate is located under the porticoes of Piazza Duomo at the corner with Via Mazzini (the new Mondadori Duomo bookstore opened in 2023).
Returning to the bidding for the Gallery spaces, during the same session a 100-square-meter area on the mezzanine near the spaces of the current Feltrinelli bookstore, contested between Biffi and Prada (the “neighbors”), was put up for auction; Prada prevailed, according to Il Giorno.
We will therefore have to await the judges’ decision to find out whether, in the Gallery, we will end up facing “Feltrinelli” or facing “Mondadori.”
