One of central Athens’ most historic department stores, Notos Galleries near Omonia Square, will permanently close on August 31, the operating company announced Tuesday, marking the end of an era for one of the Greek capital’s most recognizable retail landmarks.

Notos operated for the past 25 years from the landmark building that once housed the iconic Greek-owned Lambropoulos department store, founded in 1901. The store was rebranded as Notos Galleries in 1999.

According to the company, the closure follows the decision by the property owners not to renew the lease agreement.

Located at on the corner of Aiolou, Lykourgou, and Stadiou streets, the historic property has long been a fixture of downtown Athens and served as the flagship location of the Notos department store chain for more than two decades.

For more than a century the Lambropoulos department stores – renamed  Notos Galleries in the late 1990s – was a fixture in downtown Athens. Photo: Lambropoulos Foundation

The original Lambropoulos store began by selling men’s fashion items and introduced products considered innovative at the time, including ties, handkerchiefs and shirts. In 1927, the business “Afoi Lambropoulou” became a public limited company and, four decades later, was listed on the Athens Stock Exchange.

In its statement, management thanked employees, suppliers, partners and customers for their “timeless trust and support” throughout the store’s long history.

The building’s owners, real estate developer DIMAND and Piraeus Bank, have announced plans for a new mixed-use development on the site.

The redevelopment project is expected to include commercial spaces, offices and residential units. DIMAND previously led the transformation of another historic Athens department store, Minion, into a modern mixed-use complex.