Luxury goods group LVMH aims to grab a greater slice of tourist spending in Pari...
) aims to grab a greater slice of tourist spending in Paris as of next April when it relaunches La Samaritaine, a 150-year-old department store that will house a hotel and shops and rival the likes of Galeries Lafayette.
LVMH, behind fashion and accessories labels like Louis Vuitton, makes 8% of its sales in France alone, and already owns upmarket Parisian department store Le Bon Marche. “The environment in Paris is very competitive, we had to differentiate ourselves,” Eleonore de Boysson, the Europe and Middle East head of DFS Group said in a presentation on Tuesday.
La Samaritaine, which expects just under 5 million visitors in its first year, will rival peers like Qatari-controlled Printemps and family-owned Galeries Lafayette. Some 37 million shoppers visit the latter’s main store in Paris every year.
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