Fondaco dei Tedeschi in Venice to close, 226 workers laid off

The Fondaco dei Tedeschi, a luxury shopping center near the Rialto Bridge in Venice, will close by September 2025. Operated by DFS Group, a Hong Kong-based duty-free retailer owned by LVMH (Bernard Arnault), the venue opened in 2016 after a major restoration of the historic Fontego dei Tedeschi. DFS announced it will not renew the lease, citing critical global economic conditions in travel retail and negative results from the Venice store. The closure will result in 226 layoffs. Venice's economic development councilor Simone Venturini, in agreement with mayor Luigi Brugnaro, has called union meetings to explore legal strategies to protect employees. Recent cultural exhibitions at the space included 'Best Regards – The Anonymus Project' by Lee Shulmann (until November 17, 2024), 'Naturografie' by Roberto Ghezzi, 'Leila Alaoui – Storie invisibili' in collaboration with Galleria Continua, and site-specific installations by Maarten Baas and Barnaba Fornasetti with Valeria Manzi. The Fontego dei Tedeschi, dating to the 13th century, was originally a trading post for German merchants. After a 1505 fire, it was rebuilt by Girolamo Tedesco with frescoes by Giorgione and Titian. It later housed the Italian Post Office before being sold to the Benetton Group's real estate arm in 2008, which commissioned a renovation by Rem Koolhaas. The building's owners must now find a new tenant.