SGM takes over seven Galeries Lafayette stores
What: After Galeries Lafayette’s decision to switch 11 of its provincial units to affiliation, the Société des grands Magasins (SGM) officially became the owner of seven of these addresses.
Why is it important: SGM now operates the points of sale in Angers, Dijon, Grenoble, Le Mans, Limoges, Orléans and Reims, which it continues to run under the Galeries Lafayette brand as part of a partnership.
Launched in 2018 by the Merlin family as a specialist in city center commercial real estate, SGM has acquired a total of around 80,000 square meters of retail space to be revitalized.
Renovation work will be carried out on each site in the coming months, while the assortment will evolve: SGM wants to develop a complementary offer in the catering, leisure, culture, or the world of children. Fashion will therefore be less central in these points of sale.
The installation of pop-up stores and ephemeral offers will also be multiplied, while new third-party brands will be set up on the walls.
To increase the traffic of these stores, the property intends to host events, by opening the associative and cultural environment, offering services, leisure, and meeting spaces. But also, by developing alternative offers such as second hand.