A luxurious big is shrinking its footprint once more
A luxurious retailer is closing a second department this yr (Picture: Getty)
As the style trade grapples with slowing client demand, rising operational prices and shifting purchasing habits, shops are shutting worldwide. Even the historic manufacturers aren’t secure, as one luxurious model closed a department in a serious location after 132 years in enterprise.
The family-owned firm manages 310 shops globally and welcomes greater than 60 million guests yearly. It specialises in “city-centre style retailing” and claims to advertise the French “Artwork of Residing” by way of its manufacturers.
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The historic Paris-based luxurious chain was based in 1894 (Picture: Getty)
Galeries Lafayette Group sadly closed its Beijing department in China on Could 27, 2026. This marks the tip of the retailer’s 13-year bodily presence within the metropolis.
It additionally comes after the closure of its Macau department in February 2026. The Paris-based luxurious retailer moreover operates Galeries Lafayette, La Redoute, Louis Pion, Galeries Lafayette-Royal Quartz Paris and Mauboussin. In accordance with its web site, the Group helps the manufacturers of their asset, digital and inventive transformation by way of Citynove and Lafayette Anticipations.
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Whereas the luxurious market skilled sturdy development within the mid-2010’s because of the rise of the center class and the COVID-19 pandemic, China’s property disaster proved to be the turning level, abruptly curbing China’s home consumption and forcing the sector to adapt to new financial realities.
Nonetheless, firm executives emphasised that the transfer doesn’t characterize an entire exit from the Chinese language market. CEO Arthur Lemoine and Deputy CEO Alexandre Liot mentioned the retailer will proceed working its shops in Shanghai and Shenzhen.
Galeries Lafayette Group sadly closed its Beijing, China, department on Could 27, 2026 (Picture: Getty)
They mentioned: “We regularly assume that acquainted landmarks will at all times be there, but we overlook that encounters are usually non permanent, and the second to say goodbye can quietly arrive,” Galeries Lafayette wrote in a current WeChat publish earlier this month.
“Don’t be unhappy — this isn’t a farewell eternally. Timber develop, the seasons flip, and life prospers. We look ahead to a greater reunion with you.”
In accordance with the corporate’s retailer locator, its remaining mainland China shops are considerably smaller than its Beijing flagship, reflecting a broader shift towards leaner and extra operationally environment friendly retail codecs.
Different current shutdowns embody:
Macau: Closed in February 2026, in keeping with Macau Each day Occasions.
Marseille, France: Two shops closed in November 2025, Floor Information reported.
Rosny-sous-Bois, France: Closed in December 2025, per Sortir à Paris.
Chongqing, China: Closed in March 2025, in keeping with iChongqing.
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