Galeries Lafayette to own 100% of La Redoute

What: The Galeries Lafayette Group will soon reach a new milestone in terms of its ownership of La Redoute, of which it has held a 51% stake since the end of 2017. Over the next months, the Group’s stake will rise to 100%. 

Why it is important: La Redoute has proved the relevance of its business model, achieving solid results and significant growth in the last two years.

With a new chapter in the company’s history about to start, Nathalie Balla and Eric Courteille, who have been La Redoute’s Co-CEOs since 2014, have expressed their desire to pursue new personal projects. Following their decision, La Redoute’s Supervisory Board, chaired by Philippe Houzé, has today appointed Philippe Berlan as the company’s new CEO. Philippe Berlan is currently La Redoute’s Deputy Managing Director, having joined the company in 2012. He is a graduate of the École des Mines de Paris and has more than 25 years of experience in the retail industry, at Casino, Petit Bateau and Lancel.