Department store chain Galeries Lafayette is to open 10 new stores in selective China cities. The French retail enterprise expects China to become its largest market outside France. Galeries Lafayette has recently opened its first store in Shanghai.
“We expect to achieve sales of 1 billion euros in China”, Chief Executive Nicolas Houzé told Shanghai Daily. “China is our top priority.”
Galeries Lafayette opened a shop in Beijing in 2013. At that time, it was supposed to be the first of 15 stores. These plans had to be trimmed down, as the first store drew less Chinese consumers than expected. To create more traffic, The Beijing Galeries Lafayette underwent a revamp. The retailer introduced more lifestyle brands and services.
According to Galeries Lafayette, the Shanghai store is targeted at a younger generation of consumers who are well educated, well-traveled and eager to learn about fashion.
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