The Galeries Lafayette are expanding massively abroad

The next openings in India will be the result of a partnership between Galeries Lafayette and the Indian group Aditya Birla Fashion and Retail Limited (ABFRL), the leading local fashion group which, thanks to its powerful network of 3,500 stores, has been able to reach $1 billion revenues.

In recent days, another announcement has confirmed the group's intention to export "French luxury" and to expand massively abroad.

The CEO Nicolas Houzé said he wanted to boost the group's presence in China, where there are already two large stores of the brand in Beijing and Shanghai.  The first establishment was opened about ten years ago, while the second was inaugurated in 2019, shortly before the health crisis that has affected the country. After suffering the consequences of the pandemic and its rebound in several Chinese regions, the Chinese economy has recovered its financial health and potential. The group's objective: the opening of a dozen new stores by 2025. For this project, Les Galeries Lafayette is working with the Chinese group Hopson, a specialist in commercial real estate. A new company will be created, in which both partners will have an equal participation of 50% each.

Nicolas Houzé explained to the press that "Galeries Lafayette will rely on the Hopson Group's portfolio of real estate properties and its expertise in operating shopping centers."

At the same time, the Chinese group will continue its development on the web, by creating an e-commerce platform for the sale of luxury products, allowing Galeries Lafayette to increase its digital presence.

The first three new locations will open in 2023 in the cities of Macau, Chongqing and Shenzen, three major commercial hubs in the country. With its 35 million inhabitants, Chongqing is considered the most crowded metropolitan area in the world.