Nicolas Morineaux Appointed to Lead Galeries Lafayette's Expansion into the Chinese Market

The Galeries Lafayette group, a French department store chain, has appointed Nicolas Morineaux, a finance and luxury connoisseur who has achieved significant success in Asia, to oversee its China business. Morineaux was brought on board as the managing director of the group's Chinese branches in December 2023. The Chinese operations include four branches, with the Shenzhen and Chongqing branches launching earlier this year.

Morineaux, an alumnus of ESSEC business school, has spent the past 21 years at luxury conglomerate LVMH, serving from 2001 until 2022. His responsibilities initially included managing sales for Celine in Japan, before he ascended to the role of vice-president finance for the Asia-Pacific fashion division of the group. Morineaux culminated his tenure at LVMH by spending approximately a year as Asia sales director for Van Cleef & Arpels, a jewelery brand under the Richemont group.

Stepping into the shoes of Lawrence Shum at Galeries Lafayette, Morineaux's primary task will be the acceleration of the group's penetration into the Chinese market. The approach he is expected to take is to employ both omni-channel methods and a multi-universe approach.

Galeries Lafayette made its initial foray into China in 2013. It then entered into a joint venture agreement with the Hopson Group, a local real estate company, in April. The objective of this agreement is to bolster the French group's presence in China. The aim is to establish a total of 10 branches in China by 2025, one of which will be located in Macau.

Currently, Galeries Lafayette operates 57 stores in France – 19 of which are directly owned and 38 operate under franchise agreements. Additionally, 10 other stores are scattered worldwide. The group has recently decided to shut down its only outpost in Germany, located in Berlin, and plans to expand into India in 2024. They aim to open department stores in New Delhi and Mumbai, thanks to a partnership with Indian conglomerate Aditya Birla.