This 120-year-old department store’s recent retail development in China, which was completed as a 50/50 venture with the fashion and investment conglomerate Hong Kong I.T. Group (HKIT), is Galeries Lafayette’s latest expansion in the world’s largest luxury market — a market that the company hopes will deliver a significant portion of its global sales by 2025.
The Shanghai store. Spanning over 25,000 square meters and five-floors, it’s located within the newly-launched L+Mall commercial center in Lujiazui (陆家嘴), Pudong. Compared to Shanghai’s fully-packed commercial zone Puxi, Pudong’s Lujiazui has a much less developed retail landscape, albeit one with great purchasing potential from workers at top-tier financial institutions and businesses. And according to Galeries Lafayette’s China team, Pudong is a thriving hub and key growth area that has access to over 600,000 workers and residents.
