French department store chain to speed expansion in China
Galeries Lafayette, a leading French department store player, accelerated its expansion in China with plans to open a new store in Shenzhen, Guangdong province.
The move is part of the group's strategic scaling-up plan which aims to have 10 stores in the country by 2025.
The outlet in the pipeline, located in the Futian district of Shenzhen, is scheduled to have a soft opening by the fourth quarter of 2022.
After Beijing and Shanghai, Galeries Lafayette is moving into the southern region and aims to open a new chapter of the retail and fashion market in the "Guangdong–Hong Kong–Macao Greater Bay Area".
In this booming market, the department store is expected to establish itself as a benchmark at UpperHills, a new international urban complex developed by State-owned company Shum Yip to offer visitors an upscale shopping, dining and leisure experience.
Galeries Lafayette has a network of 65 stores worldwide. It will roll out a brand-new store concept at UpperHills with a focus on a unique store design and a highly curated multiband selection targeting this city's young, dynamic shoppers.
