Galeries Lafayette sets sights on new flagship store

French department store group Galeries Lafayette is set to sign a lease for a new store in Paris, located at

52 avenue des Champs Elysees.

The historical building, which was formerly a Virgin Megastore, will become a new Galeries Lafayette flagship store and is ideally placed on the capitals most iconic boulevard. The 9,000 square meter store will become the group's second flagship store, along with the store on Boulevard Haussmann.

The group expects to sign the lease for the store by the end of this year.