French luxury retailer Galeries Lafayette closed its flagship Beijing store on Wednesday after 13 years, underscoring weak consumer spending and changing shopping habits in China. Shoppers snapped up final bargains as staff cleared unsold goods and dismantled displays at the six-floor department store before its indefinite closure.
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.
