Five years since the takeover of Galeries Lafayette celebrated

In 2016, with an annual loss of one million euros, the Béziers department store ranked 13th out of 17 in the brand and was about to close along with two others. The two others have now closed, while the one in Béziers was relaunched thanks to the city council, which temporarily bought back the premises and sought partners who could revive operations. A winning bet, as Nicolas Chambon recalled: three years later, growth was 35% and turnover went from €4.8M to €6.5M. Financial balance was restored. In 2020, the Béziers establishment was 2nd in the group behind La Rochelle. Chanel has returned to Béziers, a symbol if ever there was one of this success and of this French art of living, promoted by Les Galeries Lafayette.

The two partners, “serial entrepreneurs” according to Alain Di Crescenzo, President of CCI Occitanie, congratulated themselves, promising €9 to 10M in turnover in five years. Today, Shop Invest, as initially promised, has bought back the premises from the City.

All the speakers, including Robert Ménard, the mayor, and Emmanuelle Ménard, the MP, hailed the success of this “flagship” of the city center of Béziers, transformed for merchants.

Article published on November 20, 2021 in Midi Libre and written by Caroline Gaillard