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Paris Group in Talks for Historic Gianfranco Ferré Building

Dubai-based company is in talks to acquire the historical building that housed the brand until September.

STAYING HOME: Dubai-based Paris Group, which owns the Gianfranco Ferré brand, is in talks to acquire the historical building that housed the brand for 14 years until September. The family of the late designer has put the building up for sale for 28 million euros, or about $36 million at current exchange rate.

Built around 1910 by architects Luigi and Cesare Mazzocchi, the more than 47,000-square-foot Art Nouveau building is located on Via Pontaccio, in the heart of the artsy Brera district, and features four floors, along with a basement and an underground automated car park.

When after two years of government-backed bankruptcy protection Paris Group acquired the Gianfranco Ferré brand in February 2011, the building was not included in the agreement and remained under the control of the designer’s brother Alberto Ferré.