Perrotin Withdraws from Dubai Venue and Halts Secondary Market Venture in Paris
The esteemed art dealer from France has terminated his alliance with Tom-David Bastok and Dylan Lessel. Emmanuel Perrotin, who established the worldwide gallery network bearing his name, has concluded his association with the art merchants Tom-David Bastok and Dylan Lessel in a "mutual agreement," as per the announcement shared by all involved parties on February 13, 2024.
Back in 2021, this group collaborated to inaugurate a five-level establishment at 8 Avenue Matignon, situated in the 8th district of Paris, with an emphasis on the secondary market. Perrotin has divested his stake in the Parisian establishment to his erstwhile associates, who will henceforth manage the gallery under the new designation, Bastok Lessel.
Furthermore, Bastok and Lessel have acquired their ex-partner's stakes in Perrotin Dubai, a secondary market gallery that commenced operations in the Dubai International Financial Centre in November 2022. This venue will henceforth be known as Bastok Lessel Dubai.
"We are honored by the exhibitions we've mounted in the past two years across Paris and Dubai, and we're excited to unify these prestigious locations under our name," stated Bastok and Lessel. The duo plans to feature both primary and secondary market exhibitions, including an upcoming show in Paris spotlighting Keith Haring, Warhol, and Basquiat.
This disengagement and transaction of shares occur following Colony Investment Management's acquisition of a 60% share in Perrotin gallery in 2023.
"The gallery will persist in its secondary market endeavors. This declaration does not alter our gallery's strategic growth and expansion objectives," remarked a representative for Perrotin gallery. "Our focus remains on our forthcoming endeavors, such as the launch of Perrotin Los Angeles at this month's end and our representation of artists at the Venice Biennale, among other projects."
Jean Dubreil