PARIS — Galeries Lafayette Group said on Monday it has acquired online private sales store BazarChic as a complementary digital sales platform to its physical Galeries Lafayette Outlet stores, as part of the French department store chain’s ongoing efforts to bolster its online offerings.
The group has purchased a majority stake in BazarChic and its subsidiaries BazarChicVoyages (MyTravelChic) and NGR from shareholders including the company’s founders, Liberty Verny and Nathalie Gillier, for an undisclosed sum. It will acquire the remaining stake in the coming years, it added.
With 6.4 million members, BazarChic has sold products from some 800 fashion and lifestyle brands since 2006. Verny, chief executive officer of BazarChic, will remain at the head of the company.
“We look forward to integrating the Galeries Lafayette group, as this move marks a new strategic step for BazarChic and MyTravelChic. We are confident that our digital expertise, supported by Galeries Lafayette group’s global outreach, will enable BazarChic to accelerate its growth in a dynamic market,” he said.
The move follows Galeries Lafayette Group’s recent purchase of luxury goods reseller instantluxe.com. Rival French department store chain Printemps purchased French fashion e-commerce site Place des Tendances in 2013, signaling a growing trend for department stores trying to bolster their online offerings.
Philippe Houzé, executive chairman of the Galeries Lafayette Group, said: “As our department store business is focused on its omnichannel transformation, we are delighted that BazarChic joins our group. Liberty Verny and Nathalie Gillier have founded and developed a major French player in e-commerce, and we are convinced that together we will write a new chapter of its history.”
The closing of the deal is subject to antitrust authorizations.