Luxury French Retailer Galeries Lafayette Shuts Beijing Flagship Store
The chain cited sluggish domestic consumption and shifting spending habits as it refreshes its business formats after closing the 48,000-square-meter store.
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8 Articles
Luxury French retailer Galeries Lafayette shuts Beijing flagship store
France’s iconic Galeries Lafayette closed its flagship Beijing department store on Wednesday after 13 years in the Chinese capital – citing weaker spending, changing shopping habits and a slowdown in the luxury sector. Its stores in Shanghai, Shenzhen and Macau will remain open.
Philstar Global
Free Malaysia Today NewsFrench luxury store shuts doors in Beijing after 13 years
Major French luxury department store Galeries Lafayette closed its first China flagship branch on Wednesday, over a decade after opening, pointing to sluggish domestic consumption and shifting spending habits.
French luxury department store shuts doors in Beijing after 13 years
Major French luxury department store Galeries Lafayette closed its first China flagship branch on Wednesday, over a decade after opening, pointing to sluggish domestic consumption and shifting spending habits.
The management of Galeries Lafayette explained in mid-May that the Beijing store, with its 48,000 square meters, was too large to be modernized without making major investments.
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