Galeries Lafayette Group said on Wednesday it has acquired luxury goods reseller Instantluxe.com for an undisclosed sum. The move follows the acquisition by rival French department store chain Printemps of French fashion e-commerce site Place des Tendances in 2013 and signals a growing trend for department stores trying to bolster their online offerings.
“As consumption habits evolve, the acquisition of InstantLuxe.com allows the Galeries Lafayette Group to accelerate the unfolding of its multichannel strategy and to offer its customers new shopping experiences in this fast-growing sector,” the group said in a statement. Yann Le Floc’h, who founded Instantluxe.com in 2009, will remain chief executive officer of the company, it added.
The site sells certified secondhand luxury products, specializing in leather goods, jewelry, watches and accessories to its community of 700,000 members. Last winter, it launched a pop-up store at BHV Marais, another department store within the Galeries Lafayette Group.