Galeries Lafayette planning to open a semicolon in China
Source: ctei Date: 2012-08-23
France famous department store - Galeries Lafayette will continue bullish about the prospects of China’s market. It is said, Galeries Lafayette have begun to siting the second department store in China.
Chief Executive Officer of Galeries Lafayette Philippe Houze said the Beijing store would be a “test”, the company is siting China’s second store. At the same time , Galeries Lafayette is also seeking acquisitions to expand financial resources. Recently, Galeries Lafayette acquired Didier Guerin,Didier Guerin is a jewellery brand in France,having total of 34 stores in the Paris region and its turnover close to 50 million euros in 2011.Philippe Houze thinks that the downturn of global economic makes it easy for company acquisitions.
15 years ago Galeries Lafayette failed in Wangfujing shopping district for poor performance. Galeries Lafayette and Hong Kong I.T retail company established joint venture . The shopping mall will be opened in the second quarter of next year in Beijing. It is said that Galeries Lafayette still selling hand-made to high-end customers, Its operation will different from Xidan joy city, zhongyou department store, Grand Pacific Department store and Xidan Shopping Mall. It will be the first semicolon in Asia for Galeries Lafayette.
