Galeries Lafayette News
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Philippe Houzé knows a dinosaur when he sees one.
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Deutsche Bank AG’s RREEF real estate investment unit said it’s in exclusive talks to sell its 70 percent stake in French department store operator Printemps to co-owner Borletti Group and Qatari investors.
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Charterhouse Capital Partners LLP’s sale of Nocibe SA may value the French fragrance and cosmetics retailer at about 600 million euros ($807 million), according to two people with knowledge of the process.
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Move aside Mona Lisa. More Chinese visitors are headed to Paris and they are picking luxury stores such as Galeries Lafayette over visits to the Louvre.
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Casino Guichard-Perrachon SA said it isn’t interested in selling its 50 percent holding in the Monoprix supermarket chain and is ready to acquire full control from partner Galeries Lafayette SA.
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Paris’s legendary label as the “City of Light” may soon lose some of its luster.
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Galeries Lafayette SA, a French department-store operator, said sales rose about 3 percent in December compared with the same month in 2010 amid concerns that the country is entering a recession.
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Among the designer brands from Prada to Chanel at the Harrods flagship store in London, Chinese housewife Li Yafang spotted a logo she knows from back home: the red, blue and green of UnionPay cards.
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French consumers will lift spending on fashion and household items during this month’s sales amid concerns the country is tipping into a recession, according to department-store operators Galeries Lafayette SA and Printemps.
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Paris’s summer “soldes,” or “Grand Sale,” went into full swing this week, luring buyers with price reductions of as much as 60 percent.
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