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.
Chanel designer Karl Lagerfeld, with his shock of white hair, black glasses and leather gloves, will be the center of attention in Paris next Tuesday when he debuts the luxury-goods company’s latest ready-to-wear collection during the city’s Fashion Week.
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.
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.