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The French Galeries Lafayette group is about to completely purchase ecommerce platform La Redoute. The retailer group already had greater than 50 % of shared within the platform since 2017. In the summertime, this stake will rise to one hundred pc.
The French omnichannel retailer Galeries Lafayette Group has a portfolio consisting of a number of manufacturers, akin to BazarChic and Eataly Paris Marais. In their very own phrases, the group receives greater than 60 million guests in its 290 shops and ecommerce web sites.
Acquisition finalized this summer time
The group purchased a 51 % stake of ecommerce market La Redoute in 2017. On the time, it was agreed that the acquisition would happen in two phases. Now, it publicizes that it’ll purchase the remainder of the shares this summer time.
‘Galeries Lafayette will purchase the remaining 49% share this summer time.’
These shares are presently owned by Nathalia Balla and Éric Courteille, who took over La Redoute in 2013. They had been capable of rework the corporate into an ecommerce platform. Workers of La Redoute personal 19 % of the shares and at the moment are promoting their stake. The quantity of the transaction has not been disclosed.
‘La Redoute’s strategic potential’
The present CEO’s of La Redoute are stepping down, and Philippe Berlan is to take over their position. “We’re happy with the progress we’ve got made with the entire La Redoute employees during the last 4 years. We’re additionally very completely satisfied that Philippe Berlan is turning into La Redoute’s new CEO.
His glorious data of the enterprise, which he has actively helped to remodel, will likely be a useful asset as we search to take care of the trajectory of this main French ecommerce firm within the years to come back, and as we search to appreciate La Redoute’s main strategic potential with a purpose to proceed offering a superb service to current clients and appeal to new ones”, mentioned Philippe Houzé, chairman of Galeries Lafayette group’s Government Board.
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