Printemps, the iconic French department store, is once again embarking on an exciting journey towards international expansion. Owned by Qatar investors since 2013, the group has set ambitious targets to double its sales by the year 2030, with a projected revenue of 3.5 billion euros. Central to this growth strategy is the focus on expanding its presence globally.
In a recent announcement, Paolo de Cesare, the president of Printemps, revealed plans to establish a presence in Qatar’s vibrant city of Doha and the fashion capital of Milan, Italy, by the year 2021. This strategic move signals a significant comeback for Printemps in the international market, following the closure of its Tokyo store in 2017. The upcoming expansion reflects Printemps’ determination to explore new horizons and reconnect with its global audience.
To ensure the success of its overseas ventures, de Cesare emphasized that all new stores will be directly managed and operated by Printemps professionals, a departure from traditional franchising models. In Doha, the new Printemps store will be housed within the prestigious Oasis complex, offering an exquisite selection of luxury products across three floors spanning an impressive 30,000 square meters.
While the specific location of the Milan store remains undisclosed, speculations point towards a prime spot near the renowned Galerie Vittorio Emanuele II in the heart of the city. Milan’s allure as a fashion hub makes it a desirable destination for French department stores, evidenced by Galeries Lafayette’s plans for an upcoming branch in the area. In addition to bustling city centers like Doha and Milan, Printemps is also exploring opportunities in smaller venues spanning around 2,500 square meters, inspired by the success of its Louvre store concept.
Although Printemps has not disclosed the exact regions for future expansions, de Cesare confirmed the group’s vision to establish 5-10 stores outside of France by 2030. With a strategic focus on international growth and a commitment to hands-on management, Printemps is well-positioned to thrive in the competitive global marketplace.
For more information about Printemps and its international expansion plans, visit their official website here. To stay updated on the latest developments in the retail industry, check out relevant articles on Retail Gazette here.
