Printemps sets up in the U.S. against a backdrop of department store crisis

After beginning international expansion in 2022 in Doha (Qatar) with 40,000 sq.m, the Printemps group (21 department stores, confidential turnover) selected New York as the entry into the U.S.A. Located at One Wall Street, near Broadway, the opening is scheduled for March 21. Within the art deco building of the former Bank of New York (owned by Macklowe Properties), the sales area covers 5,200 sq.m. This is similar to the Shenzhen Galeries Lafayette unit in China (5200 sq.m). Beyond sales,...