Galeries Lafayette to develop its own branded product range
Following the sale of its 50% stake in Monoprix for 1.175 billion euros, Galleries Lafayette Group aims to increase its market share in the ready-to-wear, perfumes, watches, jewelery and e -commerce, according to its CEO, Philippe Houze. In an interview with French daily Le Figaro on Saturday, the president of this family group said it wants to Galleries, “a multi-specialist personal equipment, fashion, decoration, multichannel and international”.
In other words, he would like to acquire brands in the business of the equipment of the person, as he did for Louis Pion in watchmaking to become the industry leader.
“Galeries Lafayette should become No. 1 on the ready-to-wear” adds Philippe Houze. To achieve this, the group is willing to buy premium and luxury brands.” “We also have ambitions in the jewelery sector,” he says. The CEO does not rule out acquisitions in the e-commerce, wants to “go for growth internationally, particularly in China.
As for the price of the 50% share of Monoprix, on which the two shareholders have been in conflict for several months, Philippe Houze calls it a “fair price”, have been stressing to offer a deferred payment until October 2013 to show (his ) goodwill “. Galeries Lafayette and Casino announced Friday it had reached an agreement to Monoprix, a sign that they held at par. Casino, directed by Jean-Charles Naouri, redeem by October 30, 2013 at the 50% owned by Groupe Galeries Lafayette, teaches specialist center (4 billion euros in turnover in 2011).