The French group, whose president Paolo de Cesare departed in early 2020, has appointed as his successor Jean-Marc Bellaiche, a former director at Tiffany and Contentsquare, who will start in his new role on October 1.
Faced with the retail sector’s troubles and the need for the French department store group to transform itself, the supervisory board has decided to end Le Printemps’ collaboration with Paolo de Cesare, CEO since 2007.
Printemps' Boulevard Haussmann flagship is welcoming a corner for The Marc Jacobs' on August 28, 2019, as the new affordable label from the American designer takes up residence in an 860-square-foot space.
The department store group, which previously did not have any locations outside of France, is planning to open flagships in Milan and Qatar’s Doha in 2021. It aims to open 5-10 international locations before 2030.
High-class department store chain Le Printemps will open its first new outlet for 32 years just down the road from the Mona Lisa, hoping well-heeled tourists will help it counter slowing sales in the luxury sector.
The fashion industry is entering a new growth cycle with a bigger focus on customers' price, quality and style expectations than in the mid-2000s, prompting brands to renew their design teams, executives said this week.