The entire French economy is hard hit by the coronavirus crisis. Because of the canceled weddings, the luxury grocery industry has plunged. This is the case with the famous Fauchon company. Two of the three stores on Place de la Madeleine, in Paris, will be forced to go out of business. Quite a symbol for these stores established for 130 years. “If Fauchon closes, it’s the end of everything”, testifies a stunned client.
It’s sad to see a house like Maison Fauchon leave, adds a young man. In total, 77 out of 107 employees will lose their jobs. One of the salespeople who had worked for the brand for 9 years was afraid of coming to this catastrophic situation. According to him, Fauchon had been doing badly for two years because of the demonstrations of the yellow vests. On the management side, we want to try a new strategy: open smaller shops with lower rents.