Printemps will open in the landmark One Wall Street building in Manhattan.
Printemps is setting its sights overseas.
In its first U.S. initiative, the 150-year-old French department store retailer will open a two-level, 54,365-sq.-ft. store in New York City, in the 50-story One Wall Street building in Manhattan’s Financial District. The landmark Art Deco building recently underwent an extensive renovation as part of its conversion from a former financial headquarters into a mixed-use retail and residential space.
As the next chapter of its brand transformation, Printemps said the New York store will be of a different scale, taking a local approach and focusing on increased omnichannel and seamless experiences. It is expected to open in spring 2024.
“We plan to pioneer a new format of experiential retail in this fast-changing and demanding market,” said Jean-Marc Bellaiche, CEO, Printemps Groupe.
The One Wall Street building is home to the Red Room, which is designated as one of the 50 interior landmarks in New York City. The mosaic-tiled, 9,000-sq.-ft. room will be among the highlights of the store. Parisian interior designer Laura Gonzalez will be the project architect, creating a 'Paris meets New York' twist on the design.
The New York store will be Printemps’ second international location. It will open its first, in Qatar, this October.
“The U.S. is essential in our international development strategy and opening in New York offers high visibility and growth potential,” said Bellaiche. “We think we can bring something unique, both to its engaged local consumer base and the strong tourist flows the city welcomes. It is also a strategic e-commerce market for luxury, fashion, home, and beauty.”
The company has tapped luxury fashion executive Laura Lendrum as CEO of Printemps America. She is the founder of Laura Lendrum Consulting, which provides strategic and operational guidance to brands and businesses in retail, digital and direct-to-consumer, and wholesale.
Previously, Lendrum served as president, Ralph Lauren, responsible for Ralph Lauren Stores in North America. She also served in president roles at Gucci and Yves Saint Laurent.
"Laura's experience in luxury, fashion, digital and hospitality is a perfect match for us," said Bellaiche.
Founded in 1865, the Printemps Group operates 20 department stores in France.