Laofoye Department Store Settled In Guiyang

With the continuous spread of the global epidemic situation, the rapid recovery and growth of China's market has attracted many international retail giants, who have accelerated the pace of expansion in China.

Following the opening of two stores in Beijing and Shanghai, the world-famous department store brand laofoye announced its latest plan to expand in China.

On Thursday, Foye said it had signed a new lease to open a new direct store in Nanming District of Guiyang, the capital of Guizhou Province.

It is reported that the store will be located in the D. Place shopping center owned by HLC group, a commercial real estate group. It will be divided into two floors with an area of 11500 square meters. The shopping center will be partially opened in 2021, while the Lafayette department store will open in the spring of 2022.

Although we have been working with Mr. Philippe in Shanghai for a few months, we are very happy to cooperate with Mr. Philippe, who is in charge of the development of the international real estate department. The third store in China presents a new opportunity for Guiyang citizens to provide them with our expertise in French fashion and lifestyle. "

Why did you choose Guiyang? The answer was given in a statement. Over the past eight years, Guiyang's GDP growth has been ahead of other provincial capitals in China, as consumer demand for high-quality lifestyles continues to increase, according to Mr. Foye. In addition, this year, the city also put forward the city brand concept of "refreshing Guiyang, shopping paradise", including enriching business forms, improving business level and promoting medium and high-end consumption.

Laofoye has a history of 120 years since its establishment. At present, it has 64 stores in the world, including two stores in Beijing and Shanghai in the Chinese market.

The history of laofoye's entry into China was not smooth sailing. In 1997, laofoye's department store opened its first store in Wangfujing, Beijing. One year later, it withdrew from the market with losses. In 2013, Lao Foye cooperated with Hong Kong I.T fashion group to test the Chinese market again and settled in Xidan, Beijing. Six years later, Foye entered Shanghai and opened its second store in China. Nicolas Houz é, chief executive officer of Foye department store, has announced that it will further expand its business in China. The number of stores in China is expected to reach up to 10 by 2025, with an annual revenue of 1 billion euro in the Chinese market in the future. According to the future plan of Foye department store, eight new stores will be opened in the next six years.