Lenovo Revenue Surges 43% as AI Demand Drives Record First-Quarter Growth 
SpaceX Shares Surge as Wall Street Backs AI Growth Potential 
China Automakers Accelerate Global Expansion as Domestic Car Sales Slump 
Cisco Forecasts Strong Fiscal 2027 Growth as AI Networking Demand Surges 
Bank of America to Buy Up to 49.9% Stake in Jio Credit for $1.92 Billion 
CBA Posts Record A$10.98B Profit Despite Cautious Outlook 
ANZ Home Loan Applications Drop 12% After Australia Property Tax Changes 
Goldman Sachs Eyes Investors for Nvidia’s $500 Billion AI Financing Plan 
Anthropic Signs $9.1B AI Data Center Deal With Riot Platforms 
LG, Nvidia Expand AI Partnership With Humanoid Robots, AI Factories 
Thyssenkrupp Raises 2026 Profit Outlook as Steel and Materials Units Strengthen 
Super Micro Stock Jumps 19% as AI Server Demand Drives Strong 2027 Outlook 
OpenAI Executive Brad Lightcap to Leave for New AI Venture 
Samsung, SK Hynix Shares Surge on Report of Potential Temasek Investment 
Antofagasta Shares Drop 5% as Miner Cuts 2026 Copper Production Forecast 
Austal Shares Surge 16% as Hanwha Offers Up to $1.2 Billion for U.S. Shipbuilding Business 
Bernstein Picks BYD and Xiaomi as Top China EV Stocks Despite Weaker Demand 
Add as a preferred source on Google
Chanel, a luxury fashion brand, shut down its outlet at South Korea's Galleria Department Store in Apgujeong-dong, Gangnam-gu, Seoul. The sudden closure was so unexpected that many were surprised.
However, it turned out that Chanel decided to do so due to a conflict with the department store. According to The Korea Herald, the French fashion house suspended its operations in Galleria because of the presence of its Italian rival, Gucci, within the area.
Chanel and Galleria's Conflict
It was reported that Chanel's closure was so abrupt that shoppers were unaware it had stopped the sales. Visitors to the boutique were said to have been turned away, and the brand said it had to close because of operational disruptions caused by Gucci, which set up its pop-up store.
"We closed the boutique because the department store proceeded to set up the upcoming pop-up, which will cause significant damage to the visibility and operational environment of our store," Korea Joongang Daily quoted Chanel Korea as saying. "The installation clearly violates the contract regarding the boutique's environment signed with the department store."
Chanel Korea further said it strongly regrets Galleria's decision to allow Gucci's pop-up, as the move has become a big obstruction to their pleasant partnership built through their 25-year cooperation.
Department Store Company's Response
Business insiders shared that Chanel was infuriated by the fact that the Galleria Department Store designated a space for Gucci's pop-up store in front of its boutique. Luxury brands previously occupied the area and have now been given to the Italian fashion company.
An official of Galleria was said to have felt embarrassed about Chanel's sudden shutdown. Then again, he explained, "Before launching the pop-up store, we communicated with Chanel and the other brand operating the pop-up. Although there were different views on the matter, we were working to narrow our differences."
He added, "It is rare for a brand to cease operations due to communication issues with the department store."
