PARIS — Boosted by retail expansion and market share gains in women's wear, French retailer Groupe Galeries Lafayette on Wednesday said profits rose 22 percent last year and revealed plans to launch its first online flagship.
Net profits for the group — which includes the Galeries Lafayette, BHV, Monoprix and Laser businesses — reached 256 million euros, or $350.9 million at average exchange, in the year ended Dec. 31 from 210 million euros, or $287.9 million, the previous 12 months. As reported, sales rose 6.5 percent to 4.96 billion euros, or $6.8 billion. Operating margins increased 8.7 percent.
The group's new watch division, which includes the Louis Pion-Royal Quartz business, also was cited as a driving force behind the increase in sales. Galeries Lafayette department stores, which count a total of 62 stores including its sprawling Boulevard Haussmann flagship, also increased their operating margin by 7.9 percent versus 7.2 percent a year earlier.
The department store said it would make its e-commerce debut April 21 with a pilot online store, which will sell more than 3,000 articles, including fashion and accessories. The site officially will launch in September, boasting a three-hour delivery service within Paris and a 24-hour delivery time within Europe.
From overseeing America’s fastest-growing speciality retailers to codifying cool, WWD talked to the women who are leading the way for the future of beauty. Check out our Instagram Stories to see how these women built today and are creating tomorrow. (📸: @hannah_khymych) #wwdbeauty
For @laperlalingerie's spring 2018 show, the brand chose to host their event at @thevenetianmacao. With Chinese megastars @bingbing_fan and @hubing in attendance, La Perla debuted a rock ‘n’ roll-inspired collection. The show marked the start of Sands Macao Fashion Week, which runs from October 19 to 24 — the city’s first such event. Pictured here are models backstage with glimmering eyes. #wwdfashion (📷: Cheuk-Yin To)
Trending for spring 2018: top stitch design. Gone are the days of stitch just for seams — designers are using the once-minimal detail to create strong decorative elements. (📷: Paola Testa; Styled by @andrew_shang) #wwdfashion
@tradesy is turning the concept of a showroom upside down with its new space in Santa Monica. Here, the company plans to hold events, art exhibits and a showcase rare fashion pieces like this Louis Vuitton boxing set. Get all the details on Tradesy’s first showroom on WWD.com. #wwdnews
Spotted last night at the @erdem x @hm launch event: Kate Bosworth, Rashida Jones, Kirsten Dunst and Selma Blair. The party, which took place in LA, also marked the opening of their pop-up shop. “I was interested in creating a collection that wasn’t in any way disposable. It was about pieces you’d create and keep forever, things that have a permanence to it,” designer Erdem Moralioglu said. #wwdeye (📷: Katie Jones)
Renee Zellweger in yellow in 2001 and again in 2017. Chosen as one of the 12 @pantone Leading Spring Colors (and dubbed “Meadowlark”), it only makes sense that the bright hue stands the test of time and is making a resurgence this season, seen already on stars like @blakelively and @gigihadid. (📷: Donato Sardello & @rexfeatures) #wwdfashion #tbt
Dior’s 70th anniversary celebration continues with a new exhibition at the Royal Ontario Museum in Toronto. “Christian Dior,” which is scheduled to run through March 18, takes a look at the founders tenure from 1947 to 1057 and feature 40 designs. Pictured here is an evening gown from the Ailée, fall 1948-49 haute couture collection. #wwdfashion (📷: Brian Boyle)