Facing The Weakness Of Economy And Consumption, Lafayette Department Store Buys Fashion Business.

In the face of the global economy and weak consumption, Galeries Lafayette Group has been actively pforming in the past two years, including the closure of unprofitable shops and the promotion of discount businesses.

Business development.

French department store group Galeries Lafayette Group Lafayette department store issued a statement on Monday announcing the acquisition of the majority stake in France fashion electronics BazarChic and its affiliate tourism business company BazarChicVoyages and innovation investment company NGR.

Galeries Lafayette Group Philippe Philippe Houz, chairman of department store group, said she was very pleased with BazarChic's participation in the group's multi-channel strategic pformation.

Liberty Verny, founder and chief executive of BazarChic, said she expects to integrate with Galeries Lafayette Group's department store.

BazarChic was founded by Liberty Verny and Nathalie Gillier, the latter as general manager of the company.

In addition to fashion business, BazarChicVoyages also operates high-end tourism e-commerce website MyTravelChic.

Prior to that, Galeries Lafayette Group, the department store, has just completed its secondhand use in France.

The acquisition of Instantluxe.com.

For the above two pactions, Galeries Lafayette Group Lafayette department store did not disclose the specific paction amount.

At present, Liberty Verny and Nathalie Gillier still retain company positions and minority shareholdings, and Galeries Lafayette Group Lafayette department store has the right of preemption in the coming years.

According to the statement, BazarChic, founded in 2006, has 6 million 400 thousand members and 800 websites.

Sales.