(Yicai Global) April 7 -- Galeries Lafayette Group, operator of the upmarket French department store chain of the same name, plans to open three more outlets in China this year, bringing its total in the country to five.

Galeries Lafayette will set up a joint venture with Hopson Commercial Group to oversee construction of stores in Shenzhen, Chongqing, and Macao, the Chinese real estate operator said yesterday. The 50-50 JV will become the exclusive partner of Galeries Lafayette in China, it added.

Founded in 1893, Galeries Lafayette has 57 stores in France, with 10 international outlets open or pending opening overseas. The Paris-based group launched its first flagship store in China in Beijing in 2013 and the second in Shanghai in 2019.

Galeries Lafayette and Hopson Commercial, which will also cooperate on high-end department stores, value-added services of high-end clubs, designer incubation, themed pop-up stores, and online retail, aim to increase the total number of stores in China to 10 by 2025, the Chinese firm noted.

Hopson Commercial is a developer with a project area of more than five million square meters in operation. Its controlling shareholder Hopson Development Holdings is listed on the main board of the Hong Kong Stock Exchange.

Editor: Futura Costaglione