Galeries Lafayette, a French department store company, is planning to tap into emerging markets, and India happens to be on its radar of expansion. Speaking at Retail Leadership Summit organised by Retailers Association of India (RAI), Thibaut Castarede, director, Galeries Lafayette, said, “Among the other emerging markets, India too occupies an important position in our list and whenever we plan to enter this country, we shall have our store either in Delhi or Mumbai.”
Casterede also mentioned that India still represents a complicated market especially for its lack of a well-defined modern shopping centre or high street. Since Dubai has already managed to establish itself as a shopping destination, Galeries Lafayette will soon be opening their store in Dubai. According to Casterede, the success of their stores is based on their adapting to the country they enter, while maintaining the flavour of being ‘French’.
– Zainab Morbiwala, Mumbai Bureau