Representing the fifth generation of the Galeries Lafayette family, Nicolas Houzé recently revealed his future ambitions, which include US $ 421.62 million spread across five years for innovation and modernisation, a daring gamble to maintain the businesses’ expansion and financial success while addressing the difficulties posed by worldwide competition and shifting client preferences.
Nicolas Houzé claims that the enormous investment approach is one of the factors contributing to this resilience. “Over the course of five years, we have invested US $ 421.62 million to modernise our store network, including US $ 105.41 million for the Haussmann flagship store in Paris,” he states. These expenditures cover more than just digital characteristics; they also cover more strategic components, such air conditioning or escalators, which are frequently hidden from consumers. Renovating the Haussmann store’s iconic dome in 2021 was one of the most noticeable changes, according to Reuters.
Over the next five years, the group intends to keep making investments along these lines. According to Nicolas Houzé, “Additionally, we have reconsidered how to incorporate brands into the consumer journey while considering the unique characteristics of different nations.” Today, Haussmann’s store spans 70,000 square meters and features around 2,000 brands.
The group is relying on further personalisation of the client experience, a proliferation of services, and the ‘premiumisation’ of its offer. At the core of this change are technical advancements, digitalisation, and artificial intelligence.
According to reports, the business intends to expand in China, Indonesia, and the Middle East in order to bolster its global footprint. To meet the increasing demand from the Asian market, a store will open in Mumbai in 2025 and another in New Delhi in 2026.
