China drives the ambitions of Galeries Lafayette

While many department stores are struggling in Europe (House of Fraser closes half of its stores in the U.K.), the Galeries Lafayette Group sees international expansion, particularly China, as a major growth driver. In Shanghai, a second Chinese department store is scheduled to open in early 2019, via a 50/50 joint venture with the IT Ltd fashion company listed in Hong Kong. It will be located within the Pudong Mall, which is currently being built by Lujiazui, one of China’s largest