Galeries Lafayette, the esteemed French department store group, is set to accelerate its footprint in China with the appointment of Nicolas Morineaux as Managing Director for Chinese operations. Morineaux, a seasoned luxury and finance expert with a robust background in Asia, will spearhead the group’s four branches in China, including recent openings in Shenzhen and Chongqing.
A graduate of the prestigious ESSEC business school, Morineaux brings 21 years of experience from his tenure at luxury powerhouse LVMH. His roles encompassed overseeing sales in Japan for Celine and serving as Vice-President of Finance for LVMH’s Asia-Pacific fashion division. Subsequently, he held the position of Sales Director Asia for Van Cleef & Arpels, a jeweler under the Richemont group.
In his new role, Morineaux takes over from Lawrence Shum, entrusted with advancing Galeries Lafayette’s expansion in the dynamic Chinese market. The strategic approach involves implementing an omni-channel and multi-universe strategy to cater to diverse consumer preferences.
Galeries Lafayette, a presence in China since 2013, solidified its commitment through a joint venture with local real estate company Hopson Group in April. The ambitious plan aims to establish a total of 10 branches in China by 2025, with an additional presence in Macau.
With 57 stores in France (19 owned directly, 38 operated by franchisees) and 10 globally, Galeries Lafayette recently made strategic decisions such as closing its Berlin location in Germany. Looking ahead, the group plans to make a significant entry into the Indian market in 2024, with department stores slated to open in Mumbai and New Delhi, in collaboration with Indian conglomerate Aditya Birla.
