LUXEMBOURG CITY — Fashion might not seem an obvious draw for visitors to the capital city of Luxembourg, better known for its European institutions or savory, puff-pastry treats, but the retail scene here is about to get a fresh injection of French style.
In search of faster and more even-keeled growth than offered in its home market, France, Galeries Lafayette is taking its Parisian fashion credentials to the country’s eastern neighbor where it will open a six-floor, glass-encased flagship on Saturday.
Designed by Lord Norman Foster, the store anchors a mixed-use site in the heart of the city, along the Boulevard Royale, tapping into a thoroughfare linking the historic center to the capital’s clutch of European institutions.
“Luxembourg for us is very important because it’s a country, a city, very close to France that is very attractive with an elevated level of buying power,” said Nicolas Houzé, chief executive officer of Galeries Lafayette. He cited economic figures like gross domestic product, which grew 2.6 percent in Luxembourg last year, outpacing France’s rate of 1.7 percent, while the country’s GDP per capita topped 100,000 euros, compared to less than half that figure in France.
The department chain has made international expansion, along with digital sales
In search of faster and more even-keeled growth than offered in its home market, France, Galeries Lafayette is taking its Parisian fashion credentials to the country’s eastern neighbor where it will open a six-floor, glass-encased flagship on Saturday.
Designed by Lord Norman Foster, the store anchors a mixed-use site in the heart of the city, along the Boulevard Royale, tapping into a thoroughfare linking the historic center to the capital’s clutch of European institutions.
“Luxembourg for us is very important because it’s a country, a city, very close to France that is very attractive with an elevated level of buying power,” said Nicolas Houzé, chief executive officer of Galeries Lafayette. He cited economic figures like gross domestic product, which grew 2.6 percent in Luxembourg last year, outpacing France’s rate of 1.7 percent, while the country’s GDP per capita topped 100,000 euros, compared to less than half that figure in France.
The department chain has made international expansion, along with digital sales