GALERIES LAFAYETTE TO OPEN STORES IN ISTANBUL AND KUWAIT
French department store chain Galeries Lafayette plans to open a second store in Istanbul and its first in Kuwait City in 2019, tapping into high-spending shoppers in the Middle East.
“These two projects give further substance to our goals of consolidating our positions in the Middle East where we will have a network of eight stores,” Nicolas Houze, chief executive of the family-owned group said in a statement. “(It will) bring us closer to our objective of having around 20 stores in international markets within five years.”
The 7,500 square metre Kuwait City store is located in the Assima Mall, a high-profile shopping centre close to the city’s central business district and will be operated under a franchise with Ali Bin Ali, a family-owned retail and luxury goods group.
The second store in Istanbul is spread over 6,000 square metres in the Vadistanbul shopping centre and is operated under a franchise with DEMSA group, a Turkish retail specialist.
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