The Return Of The Old Lord'S Department Store To China

The French department store Galeries Lafayette, which is affectionately plated by the Chinese people as "a href=" http://sjfzxm.com/news/index_c.asp "P", has a good "mass base" in China. It is a sacred place for Chinese blood brothers and Shopaholic.

According to Paul Delaoutre, chief executive of Galeries Lafayette, the mall located on Osman street is the most popular tourist landmark in Paris except for Eiffel Tower. It is also the world's highest turnover record holder in the past 10 years and receives over 8 million visitors every year.

The Chinese tour group is "a great success." nearly half of Lord Buddha's sales come from Asian customers, and Chinese customers rank first among them.

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< p > "most of the shops are Chinese, and the shop assistants are basically Chinese." this is the most direct impression of everyone who has been to Galeries Lafayette in Paris, and a special "China service" team has been set up in the shopping mall.

However, people familiar with Galeries Lafayette may recall that the French fashion giant, which was highly regarded by many people, suffered from the "Waterloo" paradox in Beijing. In 1997, the first branch opened in Beijing near Wangfujing, which had to be closed for a year because of its serious loss of business.

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< p > "market conditions at that time were not yet ripe.

Now the Chinese economy has undergone tremendous changes, so I am very optimistic about the stores opened in Xidan in September this year.

And in the next 5 years, we expect to open 16 branches in mainland China.

Thierry Vannier, head of Galeries Lafayette international promotion department, responded in an interview with the media.

However, it seems that industry analysts are optimistic about the optimism of Galeries Lafayette officials.

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< p > < strong > return to the mainland market and change to the popular line < /strong > /p >

< p > perhaps because of the memory of "Waterloo" in the early years, when Galeries Lafayette announced its return to the mainland market three years ago, it chose Hongkong I.T, which had long been familiar with the mainland market.

Fashion group as a partner - I.T.

More than 400 shops, more than half of them are located in mainland China.

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< p > I.T.

The group has been recognized by the world's first-rate department stores for its purchasing power.

Shen Jiawei, the founder, earned the first barrel of gold by selling British brands in Hongkong. Martin < a target= "_blank" href= "http://www.91se91.com/" > shoes < /a > and British version of Levi's jeans were mainly driven by him 20 years ago in Hongkong.

After that, Shen Jiawei introduced Alexander McQueen and Wakubo Rei a target= "_blank" href= http://www.91se91.com/ to designer /a /a (Comme des Garcons) with a unique vision and created brilliant sales results.

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< p > October 2010, Galeries Lafayette group and I.T.

The fashion group invested 50% to set up a joint venture, and rented 48 thousand square meters of Xidan square in Xidan, Beijing, to create a "new department store concept" shopping malls.

According to statistics, the daily traffic volume in Xidan is around 300 thousand.

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< p > but the location of Xidan is not without doubt.

In the Xidan commercial district, which is full of H&M, Mattei Bang Wei and Jack Jones, and next to the university campus, will the high-end and luxurious "old Buddha" look out of place? Galeries Lafayette said that at the beginning of her March to the mainland, she had already thought of the "mass" route. In other words, Xidan's "old Buddha" in Beijing was totally different from the old Buddha in Paris's Osman street.

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< p > < strong > there is also a helplessness in taking the mass line < /strong > < /p >

< p > of course, there are also analysts who believe that Xidan's "Lord of Buddha" has its helplessness in taking the mass line.

"In France, the long history of Galeries Lafayette has already laid a customer base, so the major brands want to enter the shopping mall.

But in China, Galeries Lafayette is too late. Most of the top brands already have their own stores and customers in China. Why do they have to open shop in Xidan or other foreign department stores? "In addition, the department stores lack the privacy and payment queuing" inconvenient ", and it is useless for the target audience to be a luxury brand of the rich class.

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"P >" Beijing Xidan old Buddha department store brand, the new brand will be the majority.

In addition to a certain number of western fashion and luxury brands, a number of Asian Designers, including Chinese designer brands, will also be stationed.

The core competitiveness of Galeries Lafayette is to release new fashion trends and explore potential designers.

Paul Delaoutre, chief executive, declared in 2011 when he attended the international fashion dinner in Xidan, Beijing.

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To guide Chinese consumers no longer blindly pursue big brands and brand names, and pay attention to the idea of designer brands and minority brands, seems to have become the common aspiration and strategy of foreign fashion giants to enter China in recent years. As early as last year's weekly reporter interviewed the French "Chun Tian" department store group CEO Paul de Cesar and the CEO Desir e e Bollier lady of Value Retail group, which owns nine European boutique shopping villages, two people have expressed similar ideas. P

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< p > < strong > the industry is "not optimistic" < /strong > < /p >.

< p > "Xidan Buddha should achieve sales of 50 million euros per year."

Earlier in the interview with Hongkong media, Galeries Lafayette group even made an ambitious estimate.

But on the other hand, the industry is not optimistic about the "public route" of Xidan, Beijing.

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< p > < strong > < a > href= > http://sjfzxm.com/news/index_cj.as > luxury tax rate < /a > lack of price advantage > /strong > /p >

< p > an important reason is known as the "luxury tax".

Nowadays, all Galeries Lafayette products impose a tax exemption policy on Chinese customers, which is 12% cheaper than the public price in France.

In other words, for Chinese people, luxuries purchased in France are the cheapest in the world.

This explains to a great extent why the Buddha is so popular with Chinese people.

But this is absolutely impossible in Beijing Xidan's "Lord Buddha" department store, and even because of the luxury tax rate on the mainland and the extra margin of luxury goods, the mainland's luxury price can be described as the highest in the world.

Beijing Xidan "Buddha" department stores completely lost the advantage of the parent company at this point.

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< p > < strong > the prospect of Xidan's "Buddha" is unpredictable. < /strong > /p >

< p > in addition, the recent sales performance of the mainland department stores is not optimistic. It has also become a major factor in the prospect of Xidan's "Buddha" in Beijing.

Since 2011, some large department stores in Beijing, Shanghai and other places have been closed down, including Shanghai's time-honored Yongxin department store, Baisheng shopping center and so on.

"In the fourth quarter of 2011, the sales performance of the whole retail industry, including department stores, is declining, not only is sales declining, but profits are also falling."

Fan Jun, Secretary General of the Chinese Department Store Association, said in an interview with the media.

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< p > and according to the analysis of the development of Shanghai department store released by Shanghai business information center in 2012, the more than 50 department stores in Shanghai, which were monitored in 2012, totaled 30 billion 500 million yuan, down 1.1% compared with the same period last year, while the sales volume of Shanghai department stores in 2012, January, June, September and September increased 4 months in the January, June, September and 4 months.

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< p > "economic depression will definitely have some impact on Xidan's old Buddha's market.

In addition, the location of the new store has a high rent, which may also be a difficult problem for investment, and it is not very good for many people I have met. "

A retail analyst told the times weekly reporter.

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< p > however, in view of the economic downturn, Galeries Lafayette group is still more optimistic.

"The economy is always fluctuating, and department stores always encounter economic depression, but there will always be a good day.

It is more important for us to seize opportunities.

According to the Galeries Lafayette's consideration of China, we believe that the market is still full of potential. "

Group promotion department director Thierry Vannier said so.

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< p > interestingly, as a leader of the department store industry with a long history and good performance, Galeries Lafayette group missed the opportunity in the first wave of department store globalization in the 90s of last century. After the defeat in 1997, only one of the 70 department stores in Galeries Lafayette group opened outside Berlin.

According to official reports, the Berlin branch is profitable now.

The other authorized foreign branch is Dubai's old Buddha's department store, which was announced in 2009.

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< p > so in a sense, Xidan's old Buddha's department store opened in Beijing in 2013 will be the new beginning of this century's own globalization.

"The Beijing store is a test for us, and we have confidence in China's booming market.

In the next five years, we will open 16 branches in the mainland of China. At present, second branches are already located. "

Galeries Lafayette group promotion department external publicity.

In addition, the department store's emerging markets, such as Saudi Arabia, Dubai, Turkey and Mexico, have become targets of Galeries Lafayette group.

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< p > of course, "old rival" Spring Department stores will not "stand idly by."

It is reported that PPR group's Spring Department store has announced that it will build a new art style building in the middle of Huaihai Road in Shanghai, modeled on the appearance of its French store in nineteenth Century.

The French brand Givenchy, Christian Lacroix, and French Cafe will be sold in the store.

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