Paris’ famous chefs and restaurateurs are using the same “hotel- chic” slogan to encourage people to spend money on luxury products at home instead of dining out at expensive restaurants.
Argos, a British luxury brand that sells products such as jewellery, leather goods, watches and handbags, will close its Paris and New York stores, citing “unwanted luxury” in its brand image, which was highlighted by the opening of the new Argos outlet in the Paris area.
Argos has not disclosed a cause of the closure.
Argots head of sales and marketing, Jonny Williams, said the brand was moving towards “a new direction” with a focus on “personalization”.
Argos started as a brand owned by a company called Argos, which operated a chain of boutiques.
Argotres business model was based on a combination of products sold in “grocery stores”, such as Argos’s own flagship stores, as well as a range of third-party outlets, including Argos-branded shops, in which customers could buy items at home, he said.
Argoes customers “want to go to restaurants, but they don’t want to go shopping”, Williams told Reuters news agency.
“So they buy a couple of clothes and a couple items of jewellery and a few accessories and they go to the Argos store.”
Argos sales grew by about 2.5% a year between 2013 and 2015, while Argos also added about 1.8m customers.
Williams said Argos was focusing on “the personalization of our customers”.
Argots Paris and Paris stores will be shut down in late 2018.
Argus London is closing its London branch as it closes a number of stores across the capital.
More to come.