Going forward with their ambitious international development strategy, Galeries Lafayette continue their expansion with a new flagship store opening in Luxembourg.
This six-floor and 9,000 sqm store, scheduled to open in late 2019 in partnership with CODIC, a leading real-estate developer in Europe, will be located within the Royal-Hamilius urban planning project built by Pritzker Prize-winning architect Norman Foster and its architecture firm Foster&Partners. With an audacious design, this real estate complex will become a new lifestyle area, hosting shopping areas, services, offices and housings. Owing to a central location in the heart of this complex, as well as to the panoramic terrace located on the 6th floor of the building, this Galeries Lafayette store will become a must-see destination in Luxembourg.
Opening a store in a bordering country with a vibrant economy is a key opportunity for Galeries Lafayette. It represents the occasion for the company to offer its know-how in both Fashion and Home Decor from premium to luxury to a local clientele with a high purchasing power and in a country that welcomes over 3.5 million annual international visitors, mainly due to business tourism.
Galeries Lafayette now count 8 flagship stores abroad and aim to open 20 new stores in top cities worldwide within the five coming years. Next openings are planned in Doha, Qatar, in fall 2018 and in Shanghai, China, at the end of 2018. Three additional Galeries Lafayette stores will open in Koweït City (2019) , Istanbul's West bank (2019) and Milan (2021).
Commenting on this announcement, Galeries Lafayette and BHV MARAIS Chief Executive Officer Nicolas Houzé declared: "This new opening demonstrates our ambition to accelerate the international reach of our Galeries Lafayette brand. This takes place in a bordering country of France, where our fashion know-how is very appreciated by both local and international clients."
Lydie Polfer, Mayor of Luxembourg city: “Luxembourg is pleased to welcome a prestigious and iconic brand such as the Galeries Lafayette, In my role of Mayor of the city I am delighted to be part of this momentum. The arrival of the Galeries Lafayette is a true added-value for the Royal-Hamilius project and for the retail in general. I am convinced this new pole of attraction will also benefit the other numerous retailers in the city center. Our aim is to diversify and multiply the retail offer. Shops are the essence of an attractive and living city for the tourists and clients”
Thierry Behiels, CEO at Codic International : « We are proud we brought 3 iconic partners together: Galeries Lafayette, Royal-Hamilius and Foster & Partners/Tetra Kayser & Associés. A beautiful company deserves the best high quality complex with a beautiful architecture, ideally located in the city center. Royal-Hamilius meets all these requirements.”
The Royal-Hamilius answers any retailer looking for a shop of 1.600m² or more in the city center. The large openings provide great quantities of luminosity inside. Royal-Hamilius was the only place capable of welcoming the 9.000 m² Galeries Lafayette. The groundfloor is already let to FNAC. Codic is currently looking for a Sky Restaurant to complete the offer.
Royal-Hamilius will bring maximum synergy and complementarity with the rue Aldringen, Grand-Rue and avenue Monterey. The new pedestrian area will ensure the continuity of the existing retail experience. The new retail area with offices and housing will be easily accessible thanks to the new tram in 2019 and the parking of more than 630 units.
Unquestionably the Luxembourg ensures it has the resources to match its ambition to become one of the most appealing capital of Europe.»
The Marketing Mix of the « Royal-Hamilius » project forecasts a Department Store (GALERIES LAFAYETTTE), a Convenience Store (DELHAIZE hypermarket) and a Big Store (FNAC) with multimedia, leisure and literature. The commercialization of the other retail areas will soon begin with a focus on shops and food courts. And besides the retail, we will have offices and housing.
Cushman & Wakefield acted as co-exclusive agent in the introduction of the Galeries Lafayette in the Grand Duchy of Luxembourg.
For more information, please contact Virginie Chambon, Associate and Head of Retail Agency Luxembourg.