Galeries Lafayette Haussmann passes its billion-euro turnover mark
What: Since 2019, Galeries Lafayette dropped below one billion in turnover, caused by the lack of locals and tourists during the pandemic lockdown period.
Why it is important: This year, Galeries Lafayette has passed one billion euros in turnover thanks to the return of French clients and tourists to the Haussmann location, notably a return of Americans taking advantage of the strength of the dollar and relaxed travel restrictions.
French visitors increased by 20%, while there remains a lack of Asian tourists.
The group plans to continue building up the Marais district of Paris where BHV is located. Despite local municipal efforts to decrease traffic in this area, Galeries Lafayette remains bullish on adding locations which are accessible, as it did recently through Citynove and the opening of Arket.