Patrick Chalhoub, CEO, Chalhoub Group has stated that he would rather close shops that are making losses and investing in opening technology-driven stores in new spaces like community malls.
‘So today stores that are losing money and where we’re not seeing traction for the customer, we prefer to really shut them down and where we feel our customer in a community or specific space is looking for our brands and products and we could give experience, human touch, then we are able to do so… it’s not brick and mortar retail which is dead, what is dead is bad retail.’ he said.
