A piece of Paris landed in New York City.
French luxury salesman Printsps officially opened its first US store this week in the city’s financial district. The seller celebrated his opening on Friday, which coincided with the beginning of spring – namesake.
The 55,000 -square -foot store includes two floors and wears a wide range of goods, including clothing, shoes, bags, makeup and more. About 25% of his brands are not available or rarely in the US, such as Joseph Duclos brand, a French luxury name made by Taylor Swift, Printemps Director Jean-Marc Bellaiche said.
In an interview with CNBC, Bellaiche said that the seller wanted to stand out from other luxury players with an attractive trade architecture; Unique blend of popular luxury brands and hardly found French brands; and programming and services, which include beauty and spa treatments and repairs to clothing and accessories.
Printmps Group was founded in 1865 and operated 20 department stores in France. Compared to its French stores, the US location has more experientially bent, with rotating depictions of goods that resemble pop-up stores and food concepts, including a restaurant and a cafe with French pastries. His playful design is inspired by the Paris apartment, and is located on one Wall Street, a historical skyscraper of Art Deco.
For example, one of the most important parts of the Printmps store is a red room. The Art Deco -style room was decorated from the floor to the ceiling with the red and gold mosaic mosaics of Muralist Hildreth Meichre and completed in 1931. Earlier there was a reception room and a banking hall for Irving Trust and Bank Company, and it was marked by internal oriented by the Conservation Commission in New York.
Printmps renovated the room and turned it into a “shoe forest” where customers can examine shoes or order a glass of wine at a nearby bar.
The store will also include Maison Pasherelle, a fine dining restaurant operated by Gregory Gourdet, a double finalist of top chef and triple winner James Beard Award. It will open in April.
Printmps opens the US store that luxury consumption slows down around the world. Even some richer consumers have withdrawn to discretionary purchases for inflation and economic insecurity. In China, a key higher -class goods market, luxury consumption has not returned to the level before the pandemic.
It is predicted that sales in the global luxury industry will grow 1% to 3% annually by 2027, according to a report of last month of Kearney Counseling. The report has attributed slowdown to the weaker demand of Chinese consumers, inflation pressures in the USA -in economic insecurity, encouraged by trade disorders and changes in policies by Trump administration.
This is a significant change from 2020 to 2021, when global luxury consumption jumped about 27%, according to Karney’s report. Global luxury consumption through goods and services was estimated at $ 500 billion in 2024.
Still, Brian Ehrig, one of the authors of the report and a partner in Karney’s consumer practice, said that the US remains an attractive market for luxury brands because of the resistance of consumers.
“We have the healthiest economy on a relative basis, if you look at the main economy,” he said. “And then the other thing, Americans love to buy.”
Ehrig added that other tall traders also doubled in investments in large and attractive physical stores, such as Lvmh-This Tiffany & Co. and Louis Vuitton New shops in New York. He said that personal experience is more critical in the sector where objects come with such high prices and expectations for personal service.
“It’s something special about being in a luxury store, about the way you care and you are created to feel like a vip when you are there,” he said. “And there is simply no way to do this online or on the iPhone.”
Other international lower prices dealers are spread and opening multiple stores in the USincluding, including Ireland based in Ireland, Mango based in Spain.
For Printemps, the American opportunity became clear, especially after the Coid-19 pandemia, while more Americans visited Paris and came to his stores, Bellaiche said. In terms of sale, Americans are the third largest consumers for Printemps after the French and Chinese, he added. However, Americans close the gap, and sales of US customers have been tripled since 2019 and 2024, he said.
Even with her luxury focus, Laura Lendrum, the Printemps America CEO, said the store mixed up in more affordable tourists or aspirative customers who can stop with a cup of coffee or browse a $ 50 gift.
Here’s a look at the store:
