After opening branches in London and New York, Upsilon Gallery has set its sights on Milan. German-Argentinian dealer Marcelo Zimmler will open his first continental European space here on November 18, a 200-square-metre gallery located off Via Monte Napoleone, in the heart of the Quadrilatero – the city’s hub of fashion and luxury goods.
The move joins Upsilon among a growing number of galleries giving Milan a try as it looks to upgrade from regional center to global art capital, including Thaddaeus Ropac, Cardi Gallery and Robilant + Voena. The city has long had all the raw materials—wealth, design, history—but, as George Nelson recently wrote for equilibrium state“The Italian art scene has been here before, but it was a false dawn.”
Zimler insists this time is different. “Milan is an important cultural and financial center and an important part of a thriving art market,” he told me during a visit to the Osvaldo Mariscotti exhibition on the Upper East Side. “As our collector base in Italy continues to grow, and Milan is close to Zurich and Paris, this is a seamless choice for us.” He pointed to two factors that changed the situation: Italy’s surprise decision to cut the value-added tax on art sales from 22% to 5%, and the influx of wealthy British residents fleeing the new British tax system.
These macro changes are hard to ignore. Rome introduced the euro zone’s lowest value-added tax on art in June; by August, real estate agents were selling the advantages of Milan’s flat tax to disgruntled London financiers. “They’ve been working on this reform for years,” Zimler said, “and everyone hopes it will have a positive impact on sales.”
First exhibition at the gallery – Milan branch of Osvaldo Mariscotti valley series – will run concurrently with double shows at Upsilon’s London and New York outposts.
Zimler said the three-part project “connects our city through a dialogue.” The exhibition in Milan includes four canvases and a bilingual catalog edited by critics David Ebony and Alex Grimley.
If Ropac’s arrival is a sign of institutional influence, Upsilon’s may be a sign of corporate agility. Founded in 2016 as an online platform, the gallery has grown into a hybrid operation — part dealer, part media business. In a speech in New York, Zimler described a business model that now relies as much on direct sales as on events, partnerships and brand collaborations.
“The gallery is empty most of the time,” he said. “So we provide space – for talks, wine tastings, even reading. It’s about creating experiences.”
This logic also applies to Milan. The new gallery’s Ceppo di Gré floors and marble details pay homage to the city’s architecture, while its location a short walk from Prada and Bulgari puts it in dialogue with the luxury industry. “Art is, by definition, a luxury product,” Zimler said. “For us, it makes more sense to collaborate with other luxury categories than to open a café.” He plans to hold an avant-garde design exhibition during the Salone del Mobile in Milan and has developed projects with artists such as Hanna Lim, whose ceramic works blend craftsmanship with fashion.
Whether Milan will reward that optimism is unclear. The last time Italy seemed poised for an art market boom—when Gagosian opened in Rome in 2007—enthusiasm outpaced reality. But for dealers like Zimler, the bet appears to be worth it. “We have a knack for opening up when the macro environment is bad,” he said with a laugh. “If you can make it work now, imagine when things really improve.”
