La Samaritaine
By Staff Writer, écoute moi
Europe’s wealthiest man Bernard Arnault who is the CEO of LVMH spending more than $ 1 billion on a Paris departmental store and the reason is to attract Chinese customers who look for luxury brands. Despite a trade war with the U.S. and anti-Beijing protests, Chinese shoppers are fuelling the luxury industry’s growth, and they’re stalwarts of the many outlets for LVMH brands across the French capital. La Samaritaine is being remade to target well-heeled customers from overseas.
The legendary space first opened in 1869. It was a cultural fixture during the Belle-Époque and the leading department store of early 20th century Paris. But by the 1970s, sales were on a decline. The building closed in 2005 after failing a safety inspection and has sat waiting for its grand re-debut ever since. La Samaritaine, One of Paris’ most historic department stores and part of billionaire Bernard Arnault’s LVMH luxury empire is reopening after a 15-year closure — is coming back in style to the public in April 2020.The company gave reporters a tour of the site, showing off its restored Belle Epoque glamour, including ornate frescoes, mosaics and wrought-iron staircases.
La Samaritaine
LVMH acquired La Samaritaine in 2001, aiming to renovate the store while keeping it open for business. That idea was scuttled four years later because of safety risks. Original flooring made of glass tiles and partially hidden underneath layers of carpet and retrofitted electric wiring was estimated to be able to hold up only 90 seconds in the event of a fire, for example. According to the reports, the departmental store will include a five-star Cheval Blanc hotel, restaurants, offices, and a Christian Dior-branded spa. The other half will be filled by luxury brands selling designer perfumes and handbags, tax-free to Chinese shoppers.
Travellers will have the option of duty-free checkout at every register, and tour buses will be able to use the Louvre museum’s parking area, helping to avoid the pavement chaos that’s long plagued rival department stores like Galeries Lafayette.
La Samaritaine
LVMH spent years fighting objections to the sweeping restoration, which merges multiple structures which is built from the 1600s through to the 1930s and progressively annexed to the Art Nouveau core — behind a contemporary facade designed by the Japanese architecture firm SANAA. One neighbour who opposed the project said Paris zoning authorities had refused to let her install a single skylight in her historic building, while LVMH won approval for a rippling glass wall the length of a city block.