While Galeries Lafayette has signed with a new Chinese partner, in France, the financial safeguard procedure for 26 department stores raises stakes of territory appeal at a national level.
On 6th April, during the visit of the presidential delegation to China, the C.E.O. of Galeries Lafayette Nicolas Houzé announced their new partner as the listed commercial property group Hopson Group, which replaces the Hong Kong fashion retail specialist IT. “IT has been losing momentum for a while, and had already lost some brand partnerships due to funding issues, said Selvane du Menil, CEO of IADS. However, this decision primarily highlights Galeries Lafayette’s desire to accelerate in Chin
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Article authors
Sophie Baqué
Chief Editor of mind Retail