Iconic French Multi-Brand Store Printemps Opens in New York
Printemps New York is set to open right on time for spring. The brand will open its doors in the city’s Financial District on March 21st. Rather than focusing on sales per square foot, the brand will be measuring how long customers stay at the store and will be run like a luxury hotel or resort.
Department and multi-brand stores have been struggling to keep up with the shift in customer demographics, the rise of e-commerce, and changes in customer’s purchasing behavior, which unsurprisingly, has resulted in either the demise or downsizing of most of them. Even iconic retailers like Bergdorf Goodman and Saks Fifth Avenue have struggled with the rapid change in the retail environment.
Printemps New York, however, expects to beat the trend by focusing on customer experience. For instance, instead of placing handbags on the ground floor, where footfall tends to be the highest, the store will welcome guests with an all-day café and a gift section, where pricing tends to be lower and merchandise turnover is higher. Chief executive, Jean-Marc Bellaiche highlights that “this is not a department store. This is more of a hospitality project.” Whereas customers may only be able to afford a USD 2,000 bag every other year, they have many more occasions to purchase lower ticket items, whether it’s a cup coffee, a candle, casualwear, or other novelty pieces. The idea that the longer a customer stays at a store, the more they will spend is not novel. Both Selfridges and Le Bon Marche are just two retailers that have treated their investments into dining, cultural, and entertainment options as part of their branding strategy, rather than vehicles to drive sales.
Printemps expects 150,000 people to pass the building each day, or an estimated spending power of USD 9.4 billion.
Moreover, Printemps New York’s layout will not feature a shop-in-shops, further emphasizing the treasure-hunting and discovery experience, and whilst some big names may be missing from their product offering, 25% of Printemps New Yorks brand portfolio will be totally new to the US Market.
Not unlike Latin American malls, Printemps New York has been designed in such a way that customers can spend an entire day hanging out at the store. Gregory Gourdet has been appointed as the culinary director for this venture, and the store will feature 5 different food and beverage options, including Gourdet’s own Maison Passerelle. The remaining F&B concepts are:
Café Jalu, an all-day casual café
Salon Vert, a classic Parisian-inspired raw bar
The Red Room Bar
The Champagne Bar.
Printemps New York will also have its very own French wine shop.
The store’s layout has 10 different areas, each of which has been carefully designed in a different concept by architect Laura Gonzalez.
Make it stand out
FIRST FLOOR: All-day cafe Jalu and a sneaker room with a LED ceiling
SECOND FLOOR: Womenswear, a raw bar called Salon Vert, menswear, eveningwear, and a beauty hall with a spa.
Womenswear Section at Printemps New York
Mr. Bellaiche calls Printemps New York and apartment, encouraging customers to explore every room, and spend a full day at their so-called luxury resort: “Imagine a journey where you can have lunch and then go check out the Red Room, where you’ll enjoy a selection of shoes and end up with a drink or maybe dinner.”
