Take a look at the first US business in the French luxury dealers Printemps
A piece of Paris ended up in New York City.
The French luxury retailer Printemps officially opened its first US business in the city's financial district this week. The retailer celebrated his opening on Friday, which coincided with the beginning of spring – his namesake.
The 55,000 square meter shop comprises two floors and wears a wide range of goods, including clothing, shoes, handbags, make-up and more. About 25% of its brands are either not available in the United States or rarely said.
In an interview with CNBC, Bellaiche said that the retailer wants to stand out from other luxury players with the striking architecture of the business. Unique mix of popular luxury brands and difficult to find French brands; and programming and services that include beauty and spa treatments as well as clothing and accessories repairs.
The Printem temps group was founded in 1865 and operates 20 department stores in France. Compared to the French shops, the US location has more experimental arches, with rotating goods committees similar to pop-up stores and food concepts, including a restaurant and a café with French pastries. The playful design is inspired by a Parisian apartment and is located in a Wall Street, a historical Art -deco cloud scratch.
For example, one of the highlights of the Printemps store is the red space. The Art Deco style room was set up with red and golden mosaics by Master Muralist Hildeth Meière and completed in 1931. Before that, it was a reception room and a banking hall for the Irving Trust and Bank Company and was called the interior of the New York Landmarks Preservation Commission.
Printems restored the room and turned it into a “shoe forest” where buyers are looking for shoes or order a glass of wine in a nearby bar.
The business also includes Maison Passel, a fine restaurant, which is controlled by Gregory Gourdet, a two-time top boss finalist and three times James Beard winner. It will open in April.
Printemps opens the US business because luxury expenses slow down worldwide. Some wealthier consumers have withdrawn from discretionary purchases due to inflation and economic uncertainty. In China, a key market for higher goods, luxury expenses did not go back to the pre-Pandemic level.
According to a report, sales in the global luxury industry will probably grow by 1% to 3% per year to 2027 in the past month of the consulting company Kearney. The report attributed the slowdown to weaker demand from Chinese consumers, the pressure in the United States and the economic uncertainty, which were heated by trade disorders and political changes to the Trump administration.
This is a significant change from 2020 to 2021, when global luxury editions rose by about 27%according to Kearney's report. The global luxury expenses for goods and services were 500 billion US dollars in 2024.
Nevertheless, Brian Ehrig, one of the authors of the report and partner in Kearney's consumer practice, said that the USA was still an attractive luxury brand market due to the resistance of consumers.
“On a relative basis, we have the healthiest economy when you look at the most important economies,” he said. “And then the other thing is, the Americans love shopping.”
Ehrig added that other high-end retailers have also doubled investments in large and conspicuous physical transactions, such as: LVMHTiffany & Co. and Louis Vuitton open new shops in New York City. He said personal experience was more critical in a sector in which articles are equipped with such high prices and expectations of personal service.
“It is something special to be in a luxury individual trading business, in the way you looked after and you feel like a VIP when you are there,” he said. “And there is simply no way to do the online or on an iPhone.”
Other internationally based retailers with lower price points are expanded and also open up more shops in the USA, including Primark based in Ireland and Spain -based mango.
For printems, the chance of the United States, especially after the Covid 19 pandemic, was clear, when more and more Americans visited Paris and came into shops, Bellaiche said. With regard to sales, the Americans are the third largest expenditure for printems after the French and Chinese, he added. However, the Americans close the gap, tripling sales to American customers from 2019 and 2024, he said.
Even with his luxurious focus, Laura Lendrum, CEO from Printemps America, said that the business mixes in more accessible articles for tourists or strenuous buyers who can drop by for a cup of coffee or browse for a gift of $ 50.
Here is a look in the shop:
