Galeries Lafayette, the private group which operates a French department store chain has agreed terms to acquire La Redoute the catalogue and online retail business which operates in the French and overseas markets, including the UK. Subject to regulatory approval Galeries Lafayette will initially acquire 51 per cent of the La Redoute business via its holding company Motier, with plans to acquire the whole business over time.
The acquisition will enable Galeries Lafayette to leverage the digital expertise of the La Redoute team and create an omnichannel offering. The La Redoute team will remain in place.
Philippe Houze, executive board chairman for Galeries Lafayette said “With the fashion and retail industries facing unprecedented global change, the complementary position of La Redoute and Galeries Lafayette – the group’s flagship brand – would establish us as a leading physical and digital retailer specialised in fashion and home furnishings, with French roots and international outreach.”
Share