Galeries Lafayette Revamps Executive Team Drawing on Founding Family Expertise

Galeries Lafayette has restructured its internal organization with the appointment of Arthur Lemoine as CEO. The executive, a member of the sixth generation of the founding family, replaces Nicolas Houzé, who becomes executive chairman of the group.

Lemoine joined the family-owned company in 2010 in the buying department in the perfume category at both Galeries Lafayette and BHV Marais. After several years within the group, the entrepreneur eventually became president of the watch and jewelry line within the eponymous department store. Finally, in 2021, Lemoine assumed the position of purchasing and sourcing director, which he has held until now.

Houzé has highlighted his replacement’s “strategic vision, ability to unite and knowledge in the fashion retail sector.“ The new CEO of Galeries Lafayette arrives at a key moment for the company, which is still returning to results similar to those before the outbreak of the pandemic.

In 2023, Galeries Lafayette closed the year with a turnover of €3.6 billion, similar results to 2019. It recovered pre-pandemic levels and returned to profit with the objective of closing 2024 with a turnover of €3.85 billion.

Galeries Lafayette recovers from post-pandemic low sales levels

The group invested nearly €100 million to revitalize its flagship store in 2021, located at 40 Boulevard Haussmann street in the heart of Paris. This operation, led by Houzé, is part of the company’s growth plan, which aims to invest more than €400 million over the next four years.

Galeries Lafayette currently operates 19 stores in France, as well as in cities around the world such as Luxembourg, Doha, Dubai, Beijing, Shenzhen and Shanghai. In the coming years, the company is planning new openings, including two in India, in Mumbay and New Delhi, which will now be overseen by Lemoine.

With this change in the management of the French company, Nicolas Houzé, for his part, assumes the role of president of the group. Alongside the presidency of Galeries Lafayette, the businessman will also oversee the group’s other businesses, which include online fashion platform La Redoute, jewelry brand Mauboussin, watch and jewelry retailer Louis Pion and travel retailer Royal Quartz.