Galeries Lafayette's new chapter under Nicolas Houzé

What: Nicolas Houzé, the new president of Galeries Lafayette, is leading the company into a new era with a focus on store renovations, international expansion, and digital innovation.

Why it is important: This transition marks a significant shift in leadership and strategy for Galeries Lafayette, aiming to strengthen its market position through modernisation and global growth, while maintaining its legacy as a leading department store.

Galeries Lafayette is embarking on a new chapter under the leadership of Nicolas Houzé, who has taken over as president of the company. This change comes as the iconic department store celebrates its 130th anniversary and aims to adapt to modern retail challenges. The company plans to invest EUR 400 million over the next five years to modernise its flagship stores, including significant renovations at its historic Haussmann location in Paris. The store has already undergone extensive updates, such as moving shoe departments to higher floors and enhancing its wellness offerings.
In addition to domestic improvements, Galeries Lafayette is pursuing international expansion with plans to open new stores in India and explore opportunities in the Middle East and China. The company is also investing in digital transformation, focusing on enhancing customer relationships through technology and artificial intelligence.
Despite challenges during the COVID-19 pandemic, Galeries Lafayette has returned to profitability, with sales increasing by 8% last year. The company aims for a 4% growth this year, striving to reach pre-pandemic sales levels. The leadership transition is part of a broader strategy to ensure long-term success by balancing tradition with innovation and meeting evolving consumer demands.