French department store retailer Galeries Lafayette is to open its first location in China in 2013. The Beijing store will be operated as a 50:50 joint venture between Galeries Lafayette and the Hong Kong-based fashion retailer IT, which is investing HKD150m (£12m) in the project prior to its opening. According to an announcement filed with the Hong Kong stock exchange, Galeries Lafayette is also expected to unveil additional stores in other major Chinese cities including Shanghai, Chengdu and Shenzhen.

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