Paris remains a seedbed for tourists to spend on luxury goods!
And LVMH is the new brand that’s now exploring to capture the potential of this market. The luxury goods conglomerate is all set to relaunch its 150-year-old department store, La Samaritaine, in April 2020.
The store will also house a hotel.
Although Chinese tourists top the list of luxury purveyors, they are shifting base with goods becoming more attractive back home, encouraged by import duty cuts among other incentives.
Notably, La Samaritaine will be situated on the banks of river Seine, close to the Notre Dame Cathedral.
The new store will include a 100-metre airport-style moving walkway through a tunnel to nearby parking. Besides, there will be a luxury rooftop hotel as well as 96 flats under a social housing scheme.
These are good enough to attract tourist shoppers.
La Samaritaine, in fact, expects a footfall of around 5 million visitors in its first year. LVMH, which owns La Samaritaine, garners 8 per cent of its sales in France alone and already owns upmarket Parisian department store Le Bon Marche.
LVMH had to spend US $ 830.70 million on its revamping, which includes a contemporary, wavy glass exterior on one side by Japanese architectural duo SANAA.