The French department store group, owner also of La Redoute, Royal Quartz Paris, Louis Pion, Mauboussin and BazarChic, has hired Sandra Weber, a corporate finance expert formerly with Swiss retail group Rallye.
The Galeries Lafayette group has set up a job protection plan for the 240 employees of its Guérin jewellery brand, which will be jettisoned in the group’s jewellery division’s overhaul following Maubossin's acquisition.
The CEO of French jeweller Mauboussin, Alain Némarq, who has a 15% stake in the company, told the AFP agency on Wednesday he has started exclusive negotiations to buy a majority interest in the jeweller.
The American jewellery firm is apparently on the point of signing a contract to take over premises currently occupied by fast-food chain Quick, at number 62, on the corner with rue de la Boëtie, in the French capital.
For the man who has everything except that perfect alligator skin jacket, he need only visit Hermes' newly opened boutique on Madison Avenue in New York, where the snappy garment sells for 158,000 dollars.
Italian jeweller Damiani has seen the first signs of recovery in demand and is confident looking ahead to the Christmas period, its chief executive said in a statement as the group reported a jump in interim profits.