The world’s number one luxury goods group LVMH has announced the establishment of joint governance for its two prestigious Paris department stores : La Samaritaine and Le Bon Marché. The move is part of a strategy to give “new impetus” to the iconic Samaritaine, which, following its reopening in 2021, is looking to overcome footfall challenges, not least due to the decline in Chinese tourists to Paris.
The single governance structure, established under the chairmanship of Patrice Wagner, current CEO of Le Bon Marché, is in line with the group’s desire to strengthen synergies between its two houses, while preserving their respective identities. Patrice Wagner will now oversee both Le Bon Marché and La Samaritaine, an organization designed to ensure continuity while adding a new dynamic.
Catherine Newey, previously General Manager of la Samaritaine, will retain this position while taking on new responsibilities as Deputy General Manager of the Le Bon Marché group. This dual role is intended to create a more fluid bridge between the two stores, enabling La Samaritaine to be better integrated into the group while meeting its specific needs.
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Read also > LVMH invites you to change the way you look at the Samaritaine
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