Lafayette Department Store Two Goes To Beijing &Nbsp; Strong Forces Join Hands To "Kill Back" Xidan, Beijing.

Interior view of Paris's old Buddha's department store

In the shop of Lord Buddha's shop in Paris, not only can a group of Chinese people rush to buy LV and GUCCI, but also queue up in front of the rebate counter, and even the buildings are full of tired and waiting Chinese tourists.

The famous old Buddha

To this end, in the eleven golden week of China, even on Sunday, the usual practice of Lafayette department store was specially opened for Chinese tourists.

Before that, when Obama and his wife visited France, under the special request of the French president, Michel opened the door to Michel on Sunday.

Old Buddha arrives in Beijing

One year without water

Carved colored glass, mosaic gold painted windows, colorful and resplendent, it is praised by tourists from all over the world.

The old department store, which has 96 departments in Paris Avenue, is the second largest place where the French flow. Only eight million times a year in Eiffel Tower, the number of luxury goods flows from here to the world. There are many Chinese tourists.

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"Eleven golden week, the LV team of Lafayette department store is all Chinese tourists.

It is estimated that it will take more than an hour to enter the store.

This year's golden week, netizens posted on micro-blog's post is enough to show that the store is being sought after by Chinese tourists.

But in the near future, Chinese shopaholics may not have to go to Paris to sweep goods again, because the first Asian store will be settled.

In fact, Lord Buddha was not the first time to go to Beijing. As early as 1997, he had tried to enter the Beijing market and opened a shop in Wangfujing, known as golden street.

China is in the 20th anniversary place of reform and opening up, while the overall economy continues to develop at a high speed, it also attracts big names such as Cartire, Vuitton, Burberry, Chanel and Gucci to enter the mainland market and set up stores in all the first tier cities, though few consumers could afford them at that time.

With keen commercial sense of smell, Lord Buddha has also cast his eyes on the emerging consumer market in the mainland of China.

But the reality is more brutal than the imagination. In less than a year, he was forced to close the Beijing store because of his poor management and never entered the Asian market again.

Talking about the cause of this phenomenon, Yang Min, a researcher at the luxury research center of University of International Business and Economics, said: "the acclimatization of various aspects of the market and experience, as well as the prediction error of China's luxury consumption ability at that time, has led to the collapse of Buddha."

Yang Min said that Chinese consumers at the end of the 90s did not have enough spending power on such luxury stores as old Buddha, or they lack interest in consumption.

The vast majority of competent consumers are still ignorant of luxury consumption.

The whole family's shopping together in Xidan shopping malls and department stores is the most important high-end retail consumption mode for Beijing residents.

LaurentChemla, managing director of the Asia Pacific region, also blamed the failure on the market at that time. "13 years ago, I stood on the streets of Xidan and photographed all kinds of Chinese dressing and dressing.

To my regret, the number of fashion people in my mind is very few. "

In addition to the ignorance of Chinese consumers' attitude towards fashion, there was also the reason why the policy was limited: because foreign retailers couldn't sell their own businesses, Lord foe could not find a local company that had no experience in operation department stores and was not open enough.

Buddha two goes to Beijing

Strong strong join hand in hand

Before he returned to the Chinese market, he had done his homework. The site selection team of old Buddha found that in the three years since the end of the 2008 Beijing Olympic Games, Beijing has developed into the most active luxury consumption system in the Asia Pacific region.

China's customers account for 10% of the French local turnover, according to the internal statistics of the department store.

The World Luxury Association's 2011 latest report also shows that the total consumption of luxury goods in mainland China last year has reached US $10 billion 700 million, accounting for 1/4 of global share.

China is expected to overtake Japan in 2012 to become the world's largest consumer of luxury goods.

"Unlike the last policy, Lord Buddha not only invested himself, but also opened his own business."

Yang Min said.

In order to reduce the risk of entering the Chinese market, and to cope with climate change, he also found himself a partner in Hongkong consumer market, Beijing I.T fashion group.

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

Shen Jiawei, his founder, earned the first barrel of gold by selling British brands in Hongkong. Martin shoes and British version of Levi's jeans were mainly driven by him in Hongkong 20 years ago.

After that, Shen Jiawei created brilliant sales results with Alexander and Alexander McQueen Comme des Garcons with her unique vision.

At the end of October 2010, the French French department store and I.T invested 50% of the joint venture to jointly develop the business of Lord Buddha in China.

Lord foe has always been regarded as the leader of the buying system in the clothing industry. However, whether he was himself or another first class buyer's shop, Lian KAFO had suffered setbacks in the Chinese market several years ago.

At least in China, I.T has become the most capable clothing company.

In addition to joining forces with I.T, Lord Volkswagen's public strategy and customer service is a new strategy for its operation in China.

Paul de lauwood, President of department store, said that the Xidan store will provide consumers with different prices, types and personalities.

In fact, as early as July this year, Lafayette department store opened the "China shop plan", and in the next 3~5 years, there will be 10~15 family "old Buddha" department store in Shanghai, Hangzhou, Macao, Tianjin, Chengdu and other cities except Beijing.

Renting the Xidan square, which covers 48 thousand square meters of Xidan North Street, and claims to build a department store with the concept of "brand-new department store", it opened in 2013 and became a new landmark of Beijing department store.