The Dubai Mall, one of the world's largest shopping and entertainment destinations being developed by Emaar Malls, will host the Middle East region's first Galeries Lafayette department store, France's leading fashion house and one of the top 100 global retailers. Galeries Lafayette at The Dubai Mall is developed through a partnership between Emaar Malls Group LLC, Galeries Lafayette and Gard Investments, which manages Monoprix and BHV stores in the Middle East.

In the presence of French Minister of Trade H.E. Renaud Dutreil, Emaar Properties Chairman H.E. Mohamed Ali Alabbar and Galeries Lafayette Group Chairman and Owner Mr Philippe Houzé signed the formal agreement to open the 192,000 sq ft department store, which will be one of the key anchor tenants of The Dubai Mall slated to open in the fourth quarter of 2008. Gard Investments Executive Chairman Mr Michel Abchée, Galeries Lafayette CEO Mr Paul Delaoutre and Emaar Executive Director – Retail Mr Rashid Doleh were present at the signing ceremony.

“The Dubai Mall, located within our flagship Downtown Burj Dubai development, has a carefully planned tenant mix that is guaranteed to offer world-class shopping experience to all visitors,” said Mr Alabbar. “With more than a century of tradition in retailing highly aspirational fashionwear, Galeries Lafayette is a sterling addition to our client portfolio. The department store in The Dubai Mall will be largest of its kind in the UAE.”

“Galeries Lafayette is now undertaking a new phase in our long history, which is shaped by four core values – boldness, leadership, passion and diversity,” said Mr Houzé. “These traits are evident in The Dubai Mall too, which makes our partnership with Emaar a perfect fit. Dubai has a thriving retail sector. Through our presence at The Dubai Mall, we will bring a new and innovative shopping experience to the city.” He added: “The opening of Galeries Lafayette here confirms our commitment to strengthening our leadership position worldwide by leveraging on the banner's powerful global reputation in fashion and the French art de vivre. The choice of Dubai is fully in line with our decision to develop into an international chain. The next phase may involve Asia, notably in Shanghai and Macao.”

Founded in the 1890s by Théophile Bader and Alphonse Kahn, Galeries Lafayette gained strength over the years through strategic acquisitions and expansion. It stays in tune with fashion by interpreting new lifestyles and trends. Galeries Lafayette is one of the top 100 global retailers and recorded a net sale of €2.4 billion (US$3.18 billion; AED 11.71 billion) in 2006. With a workforce of 12,022 employees, Galeries Lafayette has 63 department stores and affiliated outlets worldwide.

“By offering fashion wear for women, men and children, as well as the home and gourmet foods, the Galeries Lafayette store creates out-of-the-ordinary concepts that reflect a commitment to showcasing style,” said Mr Delaoutre. “We are also firmly committed to the principles of ethical business conduct and sustainable development.”

“Retail is booming in the GCC with about 12 million sq ft (PWC 07) of gross leasable area (GLA) to be added by 2010, and Dubai is billed to record the largest growth,” said Mr Doleh. “As one of the largest shopping destinations in the world, The Dubai Mall pursues a strategy of bringing the finest names in retailing to Dubai. Galeries Lafayette will complement our extensive spread of fashion, entertainment, beauty, homeware and luxury stores.” Retail Property Development is one of the six new business segments that Emaar has diversified into in line with its Vision 2010 to become one of the most valuable companies in the world. Emaar Malls will build 150 shopping centres in the emerging markets in the Middle East and North Africa, the Indian Subcontinent and South Asia.

The Dubai Mall is a 5.8 million sq ft shopper's paradise with 3.77 million sq ft of leaseable retail space. Innovative components at The Dubai Mall include the Gold Souq, Waterfront Atrium, Fountain Oasis, Fashion Island, Ice Rink, The Aquarium and Kidzania. The mall's retail spread covers high and mid-fashion wear, watches and accessories, gold and jewellery, beauty products, sports and fitness wear and equipment, health products, electronics goods, home furnishing and entertainment. Department stores, restaurants, spas and wellness centers complement the shopping experience. The Dubai Mall, located in the heart of Dubai, is easily accessible from Sheikh Zayed Road and overlooks Burj Dubai, on course to become the world's tallest structure.

Source: Emaar