World crisis kindles opportunities in luxury
We don’t find surprising at all all the fabulous opportunities generated by the current crisis. One of these “surprises” actually took place yesterday in Paris, when famous Moulin familiy took over GALERIES LAFAYETTE, a group which also includes Bhv and Monoprix. The Moulin familiy took from BPN Paris the majority of its shares. We are not drawing attention to this piece of news by accident, since all of the above is intended to cause anxiety over at Saks Fifth Avenue and Barney’s in New York, and also at Harvey Nicols or Selfridges in London. Galerie Lafayette was, until recently, “silent” competition for all the big players active in the retail luxury industry. Once it took over Lafayette, we are convinced that the Moulin familiy will manage to put the French brand name on the lips of the investors in the Middle East, but also Asia. Lafayette is a legend whose success will transcend internationally if the management will realize the enormous potential of the French franchise.