French department store group Galeries Lafayette is reconsidering its operating model in China as the consumer downturn drags on. Deputy CEO Alexandre Liot told reporters that “everything is on the table” regarding available options, noting the company does not plan to leave China but needs to re-adjust its approach. CEO Arthur Lemoine said the Beijing store was “probably too big” and that Chinese consumption has cooled due to the pandemic, a property market crash, and a shift toward local brands. The group derives around two-thirds of its revenue from its Paris flagship on Boulevard Haussmann, where sales surpassed 2 billion euros ($2.34 billion) last year.

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