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.
On rainy days, the GUM mall on Moscow’s Red Square swarms with tourists. Unfortunately for GUM, the hordes seeking shelter tend to do more looking than buying, in large part because the big-brand fashions there cost about 50 percent more than they do in Paris or London.
When Harald Huth bought the former Wertheim department store site in central Berlin, he planned to build a mall with 200 shops for about 400 million euros ($550 million). Three years and almost 1 billion euros later, he’s set to open Germany’s biggest shopping center, with 270 stores.