Printemps Seeks to Double Revenues With Overseas Push

PARIS — Printemps is going international. The department store is expanding overseas as part of an omnichannel strategy aimed at doubling the size of its business over the next decade, the chain’s chief executive officer Paolo de Cesare said on Wednesday. The Qatari-owned retailer will open its first department store outside of France, in Doha in 2021, as part of the multibillion-dollar Doha Oasis project, which includes a hotel, theme park, residences and a cinema. It also plans to unveil a smaller store in the center of Milan by early 2021, as part of a planned expansion to open five to 10 new units worldwide in the next 10 years in “exceptional” locations. In addition, Printemps said it was acquiring online homeware retailer Made in Design from investment company Gimv and founder Catherine Colin as part on a broader omnichannel push that will culminate in the launch early next year of its printemps.com luxury platform. “Our vision for the next decade and what we are preparing to do is to become a leading global omnichannel luxury and lifestyle player,” de Cesare told reporters. “It is a major evolution compared to what we achieved and built over the last decade. We are adding a global dimension

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD http://bit.ly/2Joih9g