Galeries Lafayette Closes Flagship Store in Beijing After 13 Years
Luxury French retailer Galeries Lafayette shuts Beijing flagship store
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French luxury retailer Galeries Lafayette has closed its flagship store in Beijing after 13 years, citing weaker consumer spending and changing shopping habits. The store's closure reflects broader trends in the luxury market, including a shift towards online shopping and evolving consumer preferences.
- 01The Beijing store, spanning 48,000 square meters, was a landmark for luxury shopping since its opening in 2013.
- 02Consumer spending in China has slowed, with the luxury market declining by 3 to 5 percent in 2025 after a significant drop the previous year.
- 03Younger shoppers are prioritizing experiences and new brands over traditional luxury labels.
- 04The rise of online shopping has changed retail habits, with consumers often comparing in-store prices with online options.
- 05Galeries Lafayette's closure highlights a shift in consumer expectations towards convenience and meaningful shopping experiences.
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Galeries Lafayette, the renowned French luxury retailer, has officially closed its flagship store in Beijing after 13 years of operation, attributing the decision to declining consumer spending, evolving shopping behaviors, and a slowdown in the luxury sector. The six-storey store, located near the Forbidden City, was once a prominent shopping destination for the growing middle class in China. However, the COVID-19 pandemic and a prolonged property crisis have significantly impacted domestic spending, with China's luxury market experiencing a notable decline. According to Bain & Company, the market fell by 3 to 5 percent in 2025 following a previous drop of 17 to 19 percent. Shoppers are increasingly favoring online purchases and newer brands over traditional luxury items, reflecting a broader shift in consumer priorities. Galeries Lafayette's closure serves as a reminder of the changing retail landscape, where modern consumers seek convenience, better service, and unique shopping experiences.
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The closure of the Galeries Lafayette store may lead to job losses and reduced shopping options in Beijing's luxury retail sector.
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