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Galeries Lafayette Seeks Renaissance Amid Store Death

Philippe Houzé knows a dinosaur when he sees one.

The chief executive officer of Paris-based department-store operator Groupe Galeries Lafayette is convinced that the format faces extinction. So he’s seeking to transform the 119-year-old retailer by buying brands in cosmetics and other categories to distribute alongside third-party labels like Ralph Lauren as demand weakens and e-commerce gains popularity with consumers.