The French retail group Galeries Lafayette has announced the complete takeover of the mail order company La Redoute. The retailer, which has held a 51 percent stake in La Redoute since late 2017, said on Wednesday that it intends to increase its stake to 100 percent “over the coming months”.
A change of leadership has also taken place in view of the “new chapter” in the history of La Redoute. Nathalie Balla and Eric Courteille, who have served as co-CEOs of the fashion and home furnishings retailer since 2014, have announced that they plan to pursue “new personal projects” in the future, Galeries Lafayette said. The group’s supervisory board then appointed Philippe Berlan as the new CEO of La Redoute with immediate effect. Berlan joined La Redoute in 2012 and was most recently Deputy Managing Director of the mail order company.
Philippe Houzé, Chairman of the Executive Board of Galeries Lafayette, commented on the recruitment decision: “We are proud of the progress we have made over the past four years together with the entire La Redoute workforce. We would like to sincerely thank Nathalie Balla and Eric Courteille for their role in our journey together and wish them all the best,” he said in a statement. “We are also very pleased that Philippe Berlan will become the new CEO of La Redoute. His excellent knowledge of the company, which he actively helped transform, will be of great value as we continue to develop this leading French e-commerce company in the years to come.”