Galeries Lafayette buildings to receive makeover
What: The Grands Magasins Company (Société des Grands Magasins -SGM) announced in 2021 the acquisition of seven Galeries Lafayette stores in France, sharing collaborative plans to modernize architecture and offerings.
Why it is important: The goal is to identify and exploit unoccupied areas (reserves, basement, etc.) to install brands or signs in shop-in-shop, as well as bring in complementary players to address a wider audience of shoppers: young students looking for co-working space, athletes looking to train and customers looking for accessible brands.
The renewal of the offer will be felt within the points of sale starting in 2023, while the majority of work is planned for next summer. SGM did not reveal the amount of financing the group has allocated for the transformations.
SGM officially took over the units in Angers, Dijon, Grenoble, Le Mans, Limoges, Orléans and Reims in May 2022, totalling 80,000 square meters.