How Printemps Will Change Retail on Wall Street
French luxury department store Printemps is coming to America.
The 157-year-old Parisian luxury retailer said on Wednesday that it will open its first U.S. store in New York City in spring 2024.
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To be located inside the historic 50-story landmark building at One Wall Street in the Financial District, the new 54,365 square feet store will be two levels with a façade that measures 346 linear feet facing Broadway.
As a landmark building, One Wall Street carries a similar heritage to the retailer’s iconic Paris flagship, also a landmark. The historical interior Red Room, one of the rare 50 interior landmarks in New York City, will be one of the many highlights of the store. Internationally multi-awarded Parisian interior designer, Laura Gonzalez, will be the architect on the project to create a ‘Paris meets New York’ twist on the design.
“The U.S. is essential in our international development strategy and opening in New York offers high visibility and growth potential,” Jean-Marc Bellaiche, CEO of Printemps Groupe, said in a statement. “We think we can bring something unique, both to its engaged local consumer base and the strong tourist flows the city welcomes.”
Bellaiche added that this new store will “pioneer” a new format of experiential retail and will offer a “local approach” focused on increased omnichannel experiences.
To execute these plans, Printemps has tapped seasoned executive Laura Lendrum as the CEO of Printemps America, Inc. Lendrum previously served as president for Saint Laurent, Gucci and Ralph Lauren for the North American market. The company said she is currently “assembling an experienced dedicated team to support this strategic initiative.”
“Laura’s experience in luxury, fashion, digital and hospitality is a perfect match for us,” added Bellaiche.
Founded in 1865 by Jules Jaluzot, the Printemps Group has 20 department stores operating in France. The Group is also present in lifestyle with 9 Citadium stores and has become a key player in e-commerce with Place des Tendances, a fashion and beauty e-store acquired in 2013, and Made in Design, Europe’s leading online store for designer furniture, lighting, and decoration, acquired in 2019.
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