Galeries Lafayette Haussmann Revolutionizes Customer Experience with UPI Payments

Galeries Lafayette Haussmann Revolutionizes Customer Experience with UPI Payments

By Nishang Narayan

Published on July 9, 2024

Galeries Lafayette Haussmann has recently announced the integration of the Unified Payments Interface (UPI) system, introducing a new level of convenience and security for its customers. This initiative is part of the store’s continuous efforts to modernize and streamline the payment process for its customers.

The Unified Payments Interface, a revolutionary payment technology developed by the National Payments Corporation of India (NPCI), has transformed the digital payment landscape in India. Since its inception in 2016, UPI has enabled instant and interbank money transfers via mobile applications, allowing users to link multiple bank accounts to a single app using unique virtual identifiers.

Established in 2008, the National Payments Corporation of India (NPCI) is a non-profit organization dedicated to promoting and developing India’s payment infrastructure. Through innovations like UPI, NPCI has played a crucial role in digitizing the Indian economy, making digital payments more accessible and inclusive for millions of citizens. This transformation has facilitated everyday transactions and significantly advanced financial inclusion on an unprecedented scale.

To celebrate the launch of UPI payments at Galeries Lafayette Haussmann, a cocktail event was held on Wednesday, July 3rd, 2024. The event was honored by the presence of H.E. Jawad Ashraf, Ambassador of India, and Nicolas Houzé, CEO of Galeries Lafayette. This exclusive gathering provided a unique opportunity to strengthen ties between the Parisian department store and the Indian diplomatic community, highlighting the importance of international relations in the store’s commercial and cultural endeavors.

"We are delighted to be the first department store in Europe to offer the UPI payment solution at Galeries Lafayette Haussmann. By introducing UPI, we facilitate seamless and secure transactions for our Indian customers and strengthen cultural and economic ties between France and India. As the number of visitors from India is growing, we are proud to offer this innovative payment option, ensuring a convenient and memorable shopping experience. With the opening of our first Indian store in Mumbai in 2025, followed by New Delhi, this initiative becomes even more significant, symbolizing our commitment to reinforcing the ties between our two countries," declared Vincent Sénéquat, Director of Galeries Lafayette Paris Haussmann.

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The integration of UPI payments by Galeries Lafayette Haussmann marks a significant milestone for both customers and the store, highlighting their dedication to leading technological innovation and continuously improving the shopping experience, thereby strengthening customer trust. This initiative cements the department store’s position as an industry leader and underscores their commitment to simplifying transactions by providing payment solutions that meet the demands of today’s consumers.

About Galeries Lafayette: Famous the world over, Galeries Lafayette is France’s leading department store brand. It has dominated the fashion and retail event stage for the past 130 years, offering each visitor a unique shopping experience and ensuring that French and international customers can choose from a constantly fresh range of classic as well as more exclusive brands. Home to fashion & accessories, beauty, lifestyle, as well as a food hall and dining spaces, Galeries Lafayette enjoys a global reputation thanks to a network of 67 stores in France and worldwide, its e-commerce site, galerieslafayette.com, and its factory outlet business Galeries Lafayette L’Outlet.

About NPCI International:

NPCI International Payments Limited (NIPL) was incorporated on April 3, 2020, as a wholly owned subsidiary of the National Payments Corporation of India (NPCI). As NPCI’s international arm, NIPL is devoted to deploying NPCI’s indigenous, successful real-time payment system—Unified Payments Interface (UPI)—and card scheme (RuPay) outside of India. NPCI has successfully developed and proved its products and technological capabilities in the domestic market by transforming the payment segment in India. Currently, there are several countries that seek to establish a real-time payment system or a domestic card scheme. NIPL, with its knowledge and experience, can offer these countries technological assistance through licensing and consulting for building real-time payment systems to meet the rapidly evolving needs of fast-growing global businesses. NIPL focuses on transforming payments across the globe through technology and innovation. It will not only enable payments for Indians but also support other countries by enhancing their payment capabilities using technological assistance, consulting, and infrastructure.

Indulge in a seamless shopping experience at Galeries Lafayette Haussmann with the newly integrated UPI payment system, marking a new era of convenience and innovation.


Hilton Predicts 2025 as the 'Year of the Travel Maximizer'

Hilton Predicts 2025 as the 'Year of the Travel Maximizer'

By Nithyakala Neelakandan

Published on October 6, 2024

Hilton's Annual Trends Report predicts that 2025 will be the "Year of the Travel Maximizer," as travelers are seeking to combine relaxation and adventure to make the most of their time and money. After the "Year of the Great Recharge" in 2024, where sleep retreats, mindful drinking, and wellness-themed rooms gained popularity, Hilton's new report highlights emerging trends that will shape the travel landscape in 2025.

Hilton President and CEO Chris Nassetta stated, "Our 2025 Trends Report uncovers what has been simmering for years – the intersection of work and play; of relaxation and adventure; of being alone but together. Travelers don’t just want to choose their own adventure – they want to maximize every moment of their time away."

The report is based on extensive global research, including input from 13,000 travelers across 13 countries, feedback from over 4,100 Hilton team members, and interviews with Hilton travel experts. Key findings from the report reveal several trends that will influence travel behaviors in 2025:

Adventure and Relaxation Blend

Go Getaways: Nearly 70% of global travelers enjoy being active during their trips, with one in five leisure travelers planning outdoor adventures in 2025. This indicates a desire to incorporate physical activities into their vacations.

Sleep Retreats & Hurkle-Durkling: While many travelers seek adventure, some also indulge in rest. About one in five global travelers participate in "Hurkle-Durkling," a Scottish term for lounging in bed all day while on vacation. Over a quarter of travelers will book wellness treatments, such as spa services, to improve their sleep quality during trips.

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Nostalgia and Cultural Immersion

Time Travel: Nostalgia plays a role in travel decisions, as 58% of travelers who journey with their children revisit destinations from their own childhood.

Slow Travel: One in four leisure travelers plan to engage in "Slow Travel" in 2025. This means taking the time to immerse themselves in a destination, experiencing the culture like a local by staying for an extended period.

Technology and Disconnecting

High-Tech Travel: Travelers continue to appreciate technology that makes their experiences smoother. Around 63% of travelers value having the option of a digital room key, allowing them to bypass the front desk and head straight to their room.

Digital Detox: Despite the growing importance of technology, 24% of travelers say they are more inclined to disconnect from social media during vacations compared to the past, suggesting a shift towards more mindful and present travel experiences.

Companions on the Rise

Pet-Friendly Travel: Solo travelers, known as "MeMooners," are embracing pet-friendly travel. Approximately 25% of these travelers bring their pets along for leisure trips, compared to the average leisure traveler at 19%.

Frolleagues: The trend of "Frolleagues" (friends who are also colleagues) traveling together is on the rise, with nearly 30% of travelers enjoying leisure adventures with work friends.

Generational and Solo Travel Trends

Gen Alpha Effect: Children’s preferences play a big role in family vacation planning, as 70% of respondents with children choose their destinations based on what their kids want.

MeMooners: Solo travelers are increasingly seeking enriching travel experiences. In 2025, 64% of solo travelers will consider a good book as their favorite travel partner, highlighting a desire for both exploration and solitude.

Culinary Travel and Drinking Trends

Foodie Exploration: Food plays a central role in travel experiences. Nearly one in five global travelers seek new culinary experiences, and half of them make restaurant reservations before booking their flights.

Tempo Drinking: A trend towards mindful drinking, or "Tempo Drinking," is growing. One in four travelers has reduced or stopped their alcohol consumption in the past year, highlighting a move towards wellness-oriented travel.

Inner and Outer Explorations

Soft Travel: More than one in five travelers plan trips for self-discovery or mental health, reflecting the trend of "Soft Travel," which promotes simplicity and spontaneity.

Sports Surge: From 2019 to 2024, Hilton’s sports-related sales revenue tripled, driven primarily by youth and amateur sports, highlighting the growing influence of sporting events on travel choices.

Hilton is adapting to meet these emerging needs by expanding its portfolio with luxury hotels and partnering with hospitality brands like AutoCamp to create diverse travel experiences. These initiatives are aimed at providing travelers with more choices to fulfill their evolving travel aspirations.

For more information about Hilton's 2025 Trends Report, visit stories.hilton.com/2025trends.


Adani’s April Moon Retail to Acquire 74% Stake in Cococart Ventures for ₹200 Crore

Adani’s April Moon Retail to Acquire 74% Stake in Cococart Ventures for ₹200 Crore

By Nishang Narayan

Published on October 1, 2024

April Moon Retail Private Limited (AMRPL), a joint venture between Adani Airport Holdings Limited (AAHL), has entered into an agreement to acquire a 74% stake in Cococart Ventures Private Limited (CVPL) for ₹200 crore (approximately USD 24 million). This acquisition solidifies Adani's growing presence in India's omnichannel retail market, particularly in the travel retail space.

The acquisition was formalized on September 27, 2024, through the execution of a Share Purchase Agreement (SPA), Joint Venture Agreement (JVA), and Share Subscription Agreement (SSA). According to the agreement, AMRPL will acquire 36.96% of CVPL’s equity shares through the SPA, while subscribing to an additional 37.04% through the SSA, resulting in a total 74% stake in the company.

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This strategic acquisition aligns with Adani's broader vision of expanding its retail footprint across key markets in India. Cococart Ventures, known for its omnichannel retail approach, caters to the rising demand for premium travel-related products and services. The collaboration is expected to boost CVPL's growth, leveraging Adani’s extensive resources and network, particularly in the airport retail sector.

The deal represents a significant move for Adani Group, as it continues to diversify its business interests beyond infrastructure and energy, entering deeper into the retail and consumer segments.

The acquisition of Cococart Ventures is expected to enhance the Adani Group’s retail strategy, enabling it to better serve India's burgeoning consumer market while expanding its offerings in travel and omnichannel retail.

For more details about Adani Airport Holdings, visit their website.


Swiggy Gets SEBI Nod for $1.25 Billion IPO

Swiggy Gets SEBI Nod for $1.25 Billion IPO

By Nishang Narayan

Published on September 28, 2024

Swiggy, the Bengaluru-based food and grocery delivery platform, has received approval from the Securities and Exchange Board of India (SEBI) for its $1.25 billion initial public offering (IPO). The company had confidentially filed draft papers with the regulator in April this year. With this approval, Swiggy will now submit an Updated Draft Red Herring Prospectus (UDRHP), following which the public will have 21 days to provide feedback before the IPO proceeds.

The IPO aims to raise INR 3,750 crore (USD 450 million) in fresh capital, accompanied by an Offer-for-Sale (OFS) component of up to INR 6,664 crore (USD 800 million). Major investors such as Prosus, Swiggy's largest shareholder holding 33% of the company, and SoftBank are expected to sell portions of their stakes through the OFS.

Swiggy's backers also include prominent names such as Accel, Elevation Capital, Meituan, Tencent, Norwest Venture Partners, DST Global, Coatue, Invesco, and GIC. Bankers hinted that the IPO size could potentially be increased before its official launch.

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In the first three quarters of FY24, Swiggy reported INR 5,476 crore in revenue, with a loss of INR 1,600 crore. Comparatively, Swiggy’s main competitor, Zomato, posted revenue of INR 12,114 crore for the fiscal year ending March 31, 2024, and achieved a net profit of INR 351 crore during the same period. Zomato raised INR 9,375 crore through its IPO in July 2021, and its stock has since surged 192 percent over the past year, outperforming the Nifty's 32 percent gain.

Swiggy declined to comment on queries from ET regarding the approval or details of the IPO.

Introduced by SEBI in 2022, the 'pre-filing' route allows companies to file preliminary IPO papers confidentially, providing them greater flexibility in determining the issue size. Swiggy is now positioned to adjust the number of fresh shares by up to 50% until the UDRHP is filed.

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