It was therefore necessary to take our time

Three years after the signing of a letter of intent with the i.t. Limited Group for the implementation of the Galeries Lafayette in China, you sign this Thursday in Hong Kong a partnership to the opening of a first store in Beijing in 2013. Why it took so much time between these two events

The store is certainly the most complex distribution business. It is the heaviest in the capital invested, he has very significant fixed costs and therefore requires to generate large volumes and higher margins to be profitable. In addition, this format is not easily exportable in that it reflects the sociology of his country of origin. With respect to China, unnecessary to insist on the fact that it is a market it also very complex, ultracompétitif and with very different consumption patterns of ours. It was therefore necessary to take our time. Our partner, i.t. Limited, led by a young entrepreneur who has had the intelligence both to create its own young fashion brands and take international trademark licenses, much helped us, at a time to choose the city, the location and to imagine the prototype of the store. We have formed with i.t. Limited, which has a fleet of 350 stores and realized a turnover of EUR 303 million on its fiscal year 2010, a 50-50 joint venture based in Hong Kong, Galeries Lafayette (China) Limited, under the direction of Laurent Chemla, who is in place for three years. Each of the two partners has made a maximum of 15 million Hong Kong.

Why choose Beijing over Shanghai, economic capital and modern China's showcase

We have long worked on a project in Shanghai. It could finally be completed. But this does not mean that it would not one day. In the meantime, we have chosen to turn to the capital, which perhaps has the image of a more conservative clientele, but the potential is very promising, with a very diverse population, many civil servants, students and foreigners, with the presence of embassies.

This store will in fact be a return in the Chinese capital for your sign. What lessons have you taken from the go and back in China and Asia in the 1990s

At the time, everything seemed possible, it was a period pioneer. The country has awakened to the West, came a new brand, but it was probably a little early. Failed us then the know-how of a partner and the demand for our level of supply. Since then, China has done in ten years which would have taken us thirty years. Which requires great precision in the new project.

Large French luxury brands were not expected Galeries Lafayette to develop a network of distribution in major Chinese cities, and Chinese tourists, in increasing numbers, discover the "chic French" in your Parisian flagship. What position will have the galleries Lafayette in Beijing

Our project is part the signing, this Thursday, November 25, with Financial Street Holdings, a company specializing in commercial real estate, a lease of a building, Xidan Square. It is under construction on one of the the most shopping streets of the city, not far from the forbidden city, which already includes many commercial centres, including Joy City, meeting a great success. Our large store of a sales area of 18,000 square metres, will open its doors mid-2013. And already, our partner i.t. Limited says that its current offer may cover 6,000 square metres. We must not underestimate the quality and the number of our competitors, so it will have to be radically different from other stores of the city, instead organized in the form of Gallery, the galleries Lafayette Beijing market. We have particular expertise and I am counting on the creative energy of our teams to both bring to the Beijing representation of Paris the Chinese are the first foreign customer in volume of business in our store on Boulevard Haussmann and build an offer to live mode with a mix of top range and unique accessibility. The set will also include a Gourmet supermarket and a food court.

What is your strategy abroad

The expansion of the Galeries Lafayette at the international, this first represents a perspective for the future and an appeal to air our young Executive, send to Beijing and it is also an opportunity for some of our brands to test the Chinese market. But, to date, no sign of department store, except Debenhams, which sells products to its brand, has succeeded in internationalisation. We are therefore tests in various forms and when we will have a proven success, then we can really deploy our international strategy. This is the case almost today in Berlin, where we own and found our place. The Galeries Lafayette are implanted in a Dubai licence agreement, where we just add a Lafayette Gourmet of 3,000 square metres, and will be in the same way as early as September 2011 in Casablanca. In Indonesia, we signed an agreement for free with a powerful local operator for the opening of a department store in Jakarta, the location is already reserved, and on which we work. We are in discussion for the Qatar. But the international is certainly not the only way of development of our brand. The most important today through Internet with our merchant site that is the subject of considerable effort and investment. And then there is our French stores, which continued to achieve outstanding performance.

Your sales in France so continue on the trends observed at end of August, i.e. an increase of 13 in moonlighting, and even 25 in Paris

Paris continues to prodigious speed, with however a slight fracture observed in October due to the climate and an unfavorable calendar. In the province, the trend is rather favourable, and all this will be a very good year for the brand.

How do you foresee the end of year holidays, which several studies suggest that they could be marked by very reasoned purchases of French

Promise us a frugal Christmas. We make all our energies to awaken our customers their appetite to consume! Finally, for 2011, I do not despair that we find with our social partners and the city of Paris a means test openings Sunday to better accommodate business and leisure tourists were Announces even in very large numbers.