Galeries Lafayette announced on Thursday that it wanted to increase its presence in China by having ten stores "
by 2025
" and by developing online sales, thanks to the creation of a joint subsidiary with the local real estate group Hopson Group.
The brand intends to “
develop a strategic partnership
” with Hopson Group, “
a leading listed real estate company from the south-east of the country
”, specifies a press release, thanks to this joint venture 50% owned by each of the partners.
This partnership should come into force in the “
coming weeks
”, specifies the tricolor group, which specifies that it already has a department store in Beijing and another in Shanghai, each of which is more than 25,000 m2.
It should make it possible to “
accelerate the pace of store openings to ten by 2025
” and strengthen the “
digital presence
” of Galeries Lafayette.
Store openings in India in 2024
"
Three new addresses
" will open this year, in the cities of Shenzhen, Chongqing and Macao, which will be between 3,000 and 5,000 m2 according to the press release.
The Galeries Lafayette “
will rely on the portfolio of real estate properties of the Hopson group, on its know-how in the operation of shopping centers and urban complexes of high quality
”, they indicate.
"
Ten years after our first establishment in Beijing, and as the country is gradually reopening its borders to the world after three trying years, we are happy to embark on a new stage of our development in China", says Nicolas Houzé, General Manager of
Galeries Lafayette and BHV Marais, quoted by the press release.
Hopson will notably build a “ high-end
” online sales platform
, specifies Lucas Loh, president of Hopson Commercial Group.
Galeries Lafayette today has seven stores outside France: in Luxembourg, Berlin, Dubai, Doha, Jakarta, Beijing and Shanghai, and two “
will see the light of day in 2024 in India, in Bombay and New Delhi
”, a said a spokeswoman.