BazarChic to Cease Operations Amid Rising Competition; CMI France Retains Weekly Publication Owned by Daniel Kretinsky

BazarChic, a French online shopping site owned by Galeries Lafayette, is set to cease operations due to increasing competition in the market. The announcement follows a series of strategic changes by Galeries Lafayette, which has been focusing on revamping its product offerings and enhancing services to attract customers. Additionally, CMI France, owned by Czech magnate Daniel Kretinsky, has decided against selling its weekly publication, indicating a shift in its business strategy. The closure of BazarChic reflects broader challenges faced by online retailers in a competitive landscape.