The closure of the Friedrichstrasse store will affect 190 jobs and be effective at the end of 2024.
BERLIN, GERMANY - JUNE 27: General view of the Galeries Lafayette at Friedrichstrasse in Berlin on June 27, 2020 in Berlin, Germany. Attributing the decision to “changing consumption habits in Germany and the very considerable shift in the city’s retail market,” the company told social partners it would not renew the lease with property owner Tishman Speyer on its Friedrichstrasse store when it runs out at the end of 2024.
The store’s 190 employees will be made redundant, with the French retailer committing to working with employee representatives to support those affected by the closure. Berlin’s planned closure is a further step in Galeries Lafayette’s geographical shift, as it plans to open 20 stores outside France by 2025, with a focus on China, Asia and the Middle East.A store in Mumbai is slated to open in 2024, through a partnership agreement with local fashion group Aditya Birla Fashion and Retail Ltd., with further plans for a New Delhi store.
The group also opened stores in Doha, Qatar; Luxembourg, and Shanghai, China, in 2019. Its outposts in Beijing and Shanghai are run with partner I.T Limited, and Galeries Lafayette has announced further projects in Macau and Chongqing. The group aims to have 10 stores in China by 2025.department store to Groupe SGM , a family-owned firm specializing in city-center Jaden and Willow Smith Bring Edgy Style to Moncler Event at Milan….
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