Committed to an ambitious innovation strategy, Galeries Lafayette Group is launching an accelerator dedicated to retail and fashion tech startups based in Paris, in partnership with Plug and Play. The program aims to develop an integrated platform to assist startups willing to disrupt fashion and retail. The program will create an innovation ecosystem that includes access to venture capitalists, world-class mentors, and Fortune 500 companies.

10 French and international startups will be selected and announced on September 7, 2016. They will benefit from a unique 3-month mentoring program.

“Lafayette – Plug and Play” will be based out of a dedicated 1,000 sqm office space located in the heart of the 10th district in Paris. It will offer entrepreneurs a specifically curated program, providing unique services and workspace, the combination of two powerful global networks, as well as capital investments. The co-working space will be open to external contributors who will also enhance and nourish the community.

With this accelerator, Galeries Lafayette group brings innovation to the next level by creating a collaboration platform with high-potential startups and invent with them the fashion and retail businesses of tomorrow. We are pleased to be working on this ambitious project with Plug and Play, whose expertise is globally recognized and for which we will be the only partner for retail and fashion in France. commented Edoardo Manitto, Galeries Lafayette Group VP Innovation and Development.

In order to thrive in the future, we need to invest in innovation today,” says Saeed Amidi, Founder and CEO of Plug and Play. “This innovation platform will define retail and fashion in the upcoming years. For those who want to make a difference in these industries, Lafayette – Plug and Play will be that foundation.”

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About Galeries Lafayette Group

A leading city-centre retailer with proven fashion expertise, Galeries Lafayette Group is a family-run and private group, with 120 years of history in commerce and retail. A key player committed to creation and a major private sector employer in France with 15,000 employees, the Group is actively engaged in promoting the French “Art of Living” and serving as a benchmark of fair trade. With retail sales of Euros 3.8 billion, the Group enjoys international recognition through its iconic brands: Galeries Lafayette, BHV Marais, Royal Quartz, Louis Pion and Didier Guérin.

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About Plug and Play

Plug and Play Tech Center is the world’s largest global technology accelerator and venture fund. Since inception in 2006, our program has expanded worldwide to include entrepreneurs from 24 countries, providing necessary resources to succeed in Silicon Valley. With over 350 startups and 300 corporate partners, we have created the ultimate startup ecosystem. Plug and Play provides active investments with 180 leading Silicon Valley VCs, and more than 365 networking events per year. Companies in our community have raised over $3.5 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk.

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