The CEO of Galeries Lafayette, who opposes Shein setting up in stores bearing the Galeries Lafayette name, said on Thursday that the Asian giant was “in total contradiction” with the values of the department store chain.
Arthur Lemoine, CEO of Galeries Lafayette – Galeries Lafayette
Shein is “wholly at odds with our positioning, our practices, and our values,” said Arthur Lemoine on BFM Business.
“At Galeries Lafayette, since our founding more than 130 years ago, we have carried products that not only comply with European and French regulations, but are also high-quality, creative items spanning the spectrum from affordable to luxury,” the executive explained.
In early November, the Galeries Lafayette group and Société des Grands Magasins (SGM) announced the end of their partnership covering seven regional Galeries Lafayette stores, owned and operated by SGM.
These will “become BHV stores”, like the Parisian BHV department store, which has also been operated by SGM since 2023, although the building remains owned by Galeries Lafayette.
In early October, the Banque des Territoires ended negotiations with SGM on acquiring the property, citing “a breach of trust” linked to the announcement of Shein’s planned presence at BHV.
“We do indeed have a sale agreement in principle that binds us to SGM. We will honour our commitments to this company, just as we honour all our commitments to our partners,” said Arthur Lemoine, adding that the agreement runs “until the end of the year”.
“Should SGM fail to deliver”, the group will consider “the various options available,” he added.
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