Could Milan Be the Next Art Market Hub? Gallerist Thaddaeus Ropac Thinks So
By Vivienne Chow
Economic and geopolitical uncertainties continue to haunt art-market players in the new year, with perhaps the notable exception of Thaddaeus Ropac. Against recent waves of closures and layoffs within the trade, the influential Austrian gallerist has ambitious expansion plans in 2025, with a new space to open in central Milan, Italy’s financial capital and a major seat of fashion and design.
Ropac’s new Milan space, due to open in early autumn, will be the gallery’s seventh outpost. Ropac’s first Italian base will occupy more than 3,000 square feet on the first floor of the historic Palazzo Belgioioso, just an eight-minute stroll from the iconic Duomo di Milano. The gallery will also be able to showcase outdoor sculptures at the Piazza Belgioioso, a public square outside the complex.
Industry veteran and former Lévy Gorvy Dayan senior director Elena Bonanno di Linguaglossa will serve as the executive director of the Milan outpost, the gallery announced on Thursday.
“To open a gallery, work on a program, build a team, and to go to a new place is a long-term plan. It does not really matter if you do this during a period that is strong and positive or going through a downturn,” Ropac said in a phone interview.
He admitted that business has been challenging for the last two years, but that has not stopped the gallery from seeking opportunities for growth. Ropac cited the gallery’s 2021 opening of its Seoul space, a plan that went ahead despite lockdowns. “Those are temporary situations,” he said. “Our first motivation is, how can we reach more people for the artists we represent? How can we do more projects [that] excite our artists? Our motivation is not just to increase our business, which, of course, we also want to [do].”
The gallerist noted that having the “ultimate European gallery” has been part of a dream, and opening a new space in Italy is only a natural move after having opened spaces in Salzburg, London, and Paris. “We feel that Milan has a moment. We want to be there as one of the first international galleries,” he said, citing the experiences of being one of the first international players to open in Seoul.
Milan, which has played a significant role throughout art history and is home to many artists, has emerged as a more attractive option for expansion compared to Rome, Venice, and even Naples. In addition to its central geographical location in northern Italy, which is just a short flight away from other art cities in Europe, Milan is a financial capital with strong cultural offerings from design and fashion to contemporary art thanks to strong regional fairs like Miart. Additionally, along with nearby cities such as Turin and Bologna, it belongs to the country’s wealthiest region full of active collectors, according to Ropac.
