LONDON – Following months of online speculation, Lane Crawford on Tuesday confirmed that it will close its Chengdu store at the IFS shopping mall after Feb. 28.

“While we can no longer serve you at our Chengdu location, we remain connected. You can continue enjoying the latest membership benefits and privileges through our official website, WeChat official account, Xiaohongshu platform, and our stores in Shanghai, Beijing, and Hong Kong,” the retailer said in an email sent to customers, seen by WWD.

In a statement shared with WWD, the 175-year-old, Hong Kong-originated Lane Crawford said the decision not to renew the lease was made in response to the evolving dynamics of China ’s consumer market.

“This decision is the most responsible choice for our business at this time, and for

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