Beijing: Galeries Lafayette closes its store

Galeries Lafayette officially announced to its customers the permanent closure of its Beijing store via a message posted on the Chinese social network WeChat. Located in the Xi'dan shopping district, this flagship store will close its doors on May 27, 2026, bringing to an end a venture that began in 2013 and which, according to the group, had reached financial equilibrium as early as 2016.

The Covid-19 pandemic and the profound transformation of Chinese consumer habits have since reshaped the landscape. The health crisis was followed by a real estate crisis that impacted the purchasing power of a segment of the population. The group acknowledges that the site is now "too large" and would have required significant investment for modernization, as its size, product range, and location no longer meet the expectations of a clientele now seeking proximity and a more personalized experience.

A repositioning rather than a withdrawal

Managing Director Arthur Lemoine is keen to avoid any defeatist interpretation: this closure, he argues, is an adaptation to market changes, not an abandonment. The two other Chinese stores, in Shanghai and Shenzhen, are not affected by any closure plan. The Shenzhen store, smaller and more agile, is even intended to serve as a model for future targeted openings in the country's major cities.

Galeries Lafayette is not alone in this situation: other Western players in the fashion and luxury retail sector, such as Harrods and Lane Crawford, have also announced closures in China in recent months. The group's revenue remains stable at €3,1 billion, and Chinese customers still account for 22% of the traffic at its flagship store on Boulevard Haussmann in Paris.