Galeries Lafayette Group Gives €500,000 to Strenghen INSEAD’s Brand
Galeries Lafayette Group, one of Europe’s leading city-centre fashion retailers, has donated €500,000 to INSEAD. This gift highlights the shared values of the two institutions, and the Group’s commitment to education and more specifically to the school’s philosophy: “business as a force for good”.
The gift was made possible with the support and endorsement of Philippe Houzé, MBA’74, Executive Chairman of the Group and INSEAD Board Member and his son Nicolas Houzé, MBA’06J, CEO of Galeries Lafayette and BHV MARAIS.
INSEAD and Galeries Lafayette Group share a long-standing relationship which was greatly strengthened in 2006 with the establishment of the Groupe Galeries Lafayette Endowed Scholarship for Women. The funds from this latest gift will be directed towards projects to promote INSEAD’s thought leadership and brand.
“I owe a lot to the MBA programme I attended at INSEAD. By making this gift, Galeries Lafayette Group wants to contribute to the development and communication of INSEAD’s knowledge and values,” said Philippe Houzé.
“On behalf of the school, I would like to express my gratitude for this significant gift from Galeries Lafayette Group with whom INSEAD has enjoyed a relationship that has strengthened over the years. In particular, I would like to thank our alumni Philippe and Nicolas Houzé for their continued support,” said Ilian Mihov, Dean of INSEAD.
“The impact of this gift is already being felt, for example in the new format of our MBA graduation ceremonies. Building on the reputation of INSEAD through our brand is essential for our continued success in the future,” added Anand Vengurlekar, INSEAD’s Chief Communications Officer.