Printemps
French department store chain From Wikipedia, the free encyclopedia
Printemps (/præ̃ˈtɒ̃/; French: [pʁɛ̃tɑ̃] , lit. 'springtime') is a French chain of department stores (grands magasins, lit. 'big stores') with a focus on beauty, lifestyle, fashion, accessories, and men's wear. Its flagship store, known in French as "le Printemps Haussmann" (French: [lə pʁɛ̃tɑ̃ osman]), is located on Boulevard Haussmann in the 9th arrondissement of Paris, along with other well-known department stores like the Galeries Lafayette. Since 2013, the company has been the property of a Luxembourg-based Qatari-backed investment fund, Divine Investments SA.
 | |
 Flagship store Printemps Haussmann on Boulevard Haussmann, Paris | |
| Industry | Retail |
|---|---|
| Founded | 1865 in Paris, France |
| Founder | Jules Jaluzot and Jean-Alfred Duclos |
| Headquarters | Paris , France |
Number of locations | 19 (full-line) 2 (outlet) |
Area served | France, Qatar |
Number of employees | 3,000 (2022) |
| Parent | Divine Investments SA |
| Website | printemps |
As of 2023, Printemps operates twenty stores in France (including three in Paris), as well as one international location in Doha, Qatar. The company was a founder of the International Association of Department Stores as well as one of its members from 1928 until 1997.[1][2]
The first Printemps store, now commonly known as "Printemps Haussmann", was opened on 3 November 1865 under the name "Grands Magasins du Printemps" (abbreviated as "Au Printemps") by Jules Jaluzot his wife Augustine Jaluzot and Jean-Alfred Duclos. The store was located on the corner of Rue du Havre and Boulevard Haussmann in Paris, France.[3] In 1874 the store had a large expansion and elevators (some of the first) from the 1867 Universal Exposition were installed.
The policies of Printemps revolutionised retail business practices. The store marked items with set prices and eschewed the haggling based on customer appearance that had previously been standard in retail shopping. Like other grands magasins (lit. 'big stores', department stores), Printemps used the economies of scale to provide high quality goods at prices that the expanding middle class could afford. They also pioneered the idea of discount sales to clear outdated stock, and later the use of window models to display the latest fashions. Printemps was noted for its branding innovations as well, handing out bouquets of violets on the first day of spring and championing the new Art Nouveau style, with its nature inspired motifs.[4]
In 1881 the store caught on fire causing the entire building to be destroyed, but after the fire the store was rebuilt with the new building designed by architects Jules and Paul Sédille.[5][3] The store also became the first to use electric lighting with the rebuild and customers were even able to observe the power station behind a glass wall.
The store became one of the first department stores with direct metro access when the Métro was connected in 1904.[4] Also in 1904 a near collapse of the business led to the resignation of Jules Jaluzot with this he was succeeded by Gustave Laguionie, who announced the construction of a second store in 1905. The second store designed by architect René Binet, the store was opened five years later and dominated by a glass domed hall 42 meters in height and an Art Nouveau staircase which was later removed in 1955.
The first store outside of Paris was opened in 1912 in Deauville.[6]
Pierre Laguionie, the son of Gustave, took the helm of the store in 1920, rebuilding it after another large fire in 1921.
In 1923 with the reconstruction of the Haussmann store an elaborate cupola was installed above the main restaurant.
Pierre Laguionie was the first president of the International Association of Department Stores in from 1928 to 1930, a position he held again in from 1937 to 1938 and 1952 to 1953. Jean Vignéras held the position from 1962 to 1963 and Jean-Jacques Delort was president from 1981 to 1982.[7]
In the 1930 a store opened in Antananarivo, Madagascar, the store was later converted into a Prisunic.
In 1931, Printemps created the discount chain Prisunic.[8]
In 1939 to avoid the risk of the cupola being destroyed in bombing attacks it was dismantled and stored at Clichy.[9] It was restored in 1973 by the grandson of its original designer, using plans that had been kept in the archives of the family business. In 1975, the façade and cupola of the building were registered as historical monuments.
Printemps alongside Åhlén & Holm, Au Grand Passage (Geneva), Bon Marché (Brussels), Grands Magasins Jelmoli, L'Innovation (Lausanne), Rinascente, S.A.P.A.C. (Printemps purchasing association) and Selfridges founded the Intercontinental Group of Department Stores which they have been a member of since.[10][11]
The figures of the Four Seasons on the façade were sculpted by French sculptor Henri Chapu.[12]
By 1970 there were 23 Printemps locations and 13 Prisunic discount outlets. The oil-price driven French economic crisis of the early 1970s significantly threatened Printemps business model, in response the firm was transformed into a limited corporation with a controlling interest acquired by Maus Fréres, a Swiss holding company. During the 1970s Jean-Jacques Delort led the company on a turnaround strategy creating specialty stores and brands (such as Armand Thierry clothing) and branching out into different areas such as food and mail.
In 1981 the company started an international expansion by franchising stores it started with the opening of a location in Kobe, Japan, they continued the expansion a year later opening a store in Sapporo.[13]
Printemps expanded to Singapore with its first store located at the ground floor of the newly built Le Méridien Hotel on Orchard Road.[14] Owned by Town & City Properties Ltd,[15] the store opened on 8 September 1983[15] and closed on 24 December 1989 with 65 of its staff being retrenched.[16]
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A Printemps store opened in Jeddah, Saudi Arabia in 1984.[17]
Printemps expanded to Malaysia under an exclusive 25-year franchise agreement[18] with Larut Tin Fields Berhad[19] through its subsidiary City Chemist Holdings.[18] Its first store at Damansara Jaya, Petaling Jaya[19] opened on 26 July 1984,[18][19] with a second store at Kuala Lumpur Plaza[18] set to open in late 1984.[19]
Two more stores opened in Japan in Ginza and Osaka.[20][21]
Its first and only outlet in the Americas – a store in Denver, opened on 6 November 1987. Located at Broadway Plaza, the store was just over 88,000 square metres. It also had French bistro.[22][23] Business slowed down after the first few months; a shuttle bus to get shoppers to the store started operating from Downtown Denver. The Denver store closed down in April 1989.[24]
In 1988 two new locations opened in Istanbul, Turkey and Seoul, South Korea.[25]
In 1991 Printemps and its subsidiaries were acquired by François Pinault and merged with other holdings into Pinault-Printemps-Redoute (PPR, was renamed Kering in 2013).[26][27] That year a store also opened in Cascais, Portugal.[28]
In 1994 a store opened in Bangkok, Thailand at Seri Center.[29]
In 1995 a location opened in Taipei, the store opened under a franchise agreement and was operated by the Taiwan-based Jieh Enterprises.[30] Printemps also expanded to China with a six floor store opening on Huaihai Road in Shanghai. Plans were announced for two more Chinese stores to open in 1996 and then a Beijing store in 1997.[31]
Printemps spent $40 million to renovate the flagship Haussmann store in 1997 the renovation redesigned the entire store and also added TV screens and music listening stations around the store whilst also refreshing the brands that the store stocked.[32]
A franchise in Ratu Plaza, Jakarta which was supposed to open in 1998 was under construction but due to the Asian financial crisis and the May 1998 riots the store did not open.[33]
In 2006 Printemps was sold to the Italian Borletti Group (with equity partner Deutsche Bank), they then made major investments to revamp stores.[34][35]
On 16 December 2008, the Paris department store Printemps Haussmann was evacuated following a bomb threat from the terrorist group FRA (Afghan Revolutionary Front). The demining services found five sticks of dynamite in the toilet of the store. The FRA claimed this assassination attempt and demanded the withdrawal of 3,000 French soldiers deployed in Afghanistan.[36][37]
On 31 July 2013, Divine Investments SA (DiSA) a Luxembourg-based Qatari-backed investment fund bought Printemps[38][39] On 4 August 2013 labor organisations in France asked the Paris prosecutor's office to open a preliminary inquiry into the sale, in response to a complaint from labour representatives.[40][41] On 8 August the French court rejected the request to stop the sale.[42]
Also in 2013 the Beijing-based Wangfujing Department Store which was a rival of Printemps in China acquired Printemps China (PCD Stores).[43][44]
On 15 January 2014, Printemps opened its first new store in 32 years at the Carrousel du Louvre shopping mall in Paris.[45] The store closed in 2023.
In 2017 the last international store closed in Ginza, Tokyo and was converted into an extension of the nearby Marronnier Gate department store, the closing of the store ended a period of international expansion around the world.[46][47][21]
In May 2019 plans were announced to open a store in Galleria Vittorio Emanuele in Milan. It would be 2,500 square metres and would open in 2021,[48] but due to the COVID-19 Pandemic plans were scrapped.[49]
In 2020 due to the COVID-19 Pandemic it was announced that four Printemps stores would close (Le Havre, Strasbourg, Metz & Place d'Italie).[50]
In September 2022, Printemps announced that they would open a two-level 54,000 sq ft (5,000 m2) at One Wall Street in New York City, the store is expected to open in Spring 2025.[51][52][53]
Printemps Doha opened in November 2022 at Doha Oasis in Doha, Qatar.[52][54] The store is the largest department store in the Middle East at over 40,000 m2 (430,000 sq ft) and the brands second largest store it includes 14 restaurants and over 200 brands exclusive to the store.[55]
The company is currently looking to open a store in Asia and is aiming to have 5-10 new stores by 2030 all of which will be located outside of France.[56]
An outlet opened at the McArthurGlen Paris-Giverny mall in mid-2024.[57]
At the end of 2024, Printemps has become the first major European retailer to accept cryptocurrencies as a form of payment in a partnership with Binance Pay and Lyzi, enabling customers to use over 300 cryptocurrencies, including Bitcoin, Ethereum, and various stablecoins like USDC and Tether. The integration of Binance Pay and Lyzi will allow Printemps customers in France to use secure and flexible payment options across its 20 stores. Emmanuel Suissa, Chief Partnership Officer at Printemps, expressed pride in being the first department store network in France to accept crypto payments, both for local and international customers.[58]
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