By
Reuters
Printed
November 25, 2024
Division retailer group Galeries Lafayette will make investments one other €400 million over the subsequent 5 years, searching for to develop and modernise its retailer base and lift its recreation inside a particularly disrupted retail sector.
Reuters
“Continuing to invest massively is essential. In digital solutions, of course. But also in tactical areas, less immediately noticeable by customers, such as escalators and air conditioning, among others,” stated Nicolas Houzé, president of the Galeries Layette’s government committee in an interview with La Tribune. “And in highly visible areas too, as we did in 2021, when we renovated the historic dome of the Haussmann branch [in Paris],” he added, referring to the group’s flagship retailer.
“We have invested €400 million in five years to modernise our stores, including €100 million for the Paris one. We are planning an equivalent investment budget for the next five years,” stated Houzé.
The retail sector is at present dealing with main challenges to its enterprise mannequin, as illustrated by the difficulties of many hypermarkets in addition to attire and toys retailers, hit in fast succession by the Covid pandemic and the increase of e-tail.
Galeries Lafayette will even strengthen its worldwide presence over the subsequent two years, significantly in India, the place the group will open a retailer in Mumbai subsequent yr and one other in New Delhi in 2026, in line with Houzé.
© Thomson Reuters 2024 All rights reserved.
