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PARIS – Galeries Lafayette is the latest department store chain to set its sights on the booming Gulf Emirate city of Dubai.
The French retailer said on Tuesday that it has signed a deal that would make it the anchor tenant of the future Dubai Mall, a 3.4 million-square-foot complex — billed as the world’s largest shopping and entertainment destination — scheduled to open by late 2008. The Galeries Lafayette store will be 192,000 square feet, but there were no details on its design or special features.
The development puts Galeries Lafayette in the footsteps of Saks Fifth Avenue and Harvey Nichols, which both opened stores in the fast-developing city. It also signals a major strategy shift for the French retailer, which seemed to reign in international expansion after a failed venture in New York.
For complete coverage, see tomorrow’s issue of WWD.