fcl-777 Can a French Department Store Make Wall Street Très Chic?

 fef777    |      2025-03-30 04:18

Printemps, a French department store that just opened its first New York outpost in Lower Manhattanfcl-777, is aiming to do what few stores of its ilk have lately done in that area: stay in business.

The store at 1 Wall Street, about a five-minute walk from The New York Stock Exchange, is in a part of Manhattan that has recently had a poor track record with luxury retail emporiums. That may be why a marketing campaign emphasizes that it is “not a department store.”

Saks Fifth Avenue’s store in the Brookfield Place mall was open for little more than two years before it closed in 2019. A South Street Seaport location of 10 Corso Como, the Milanese concept store beloved for its selection of clothes, art, furniture and books, came and went even faster: It closed in 2020, about 18 months after it opened.

Printemps’s store in New York is a second coming: A location in Denver lasted about two years after opening in the late 1980s. It comes at a time when department stores, once a bedrock of the American shopping experience, have also been closing at a rapid clip across the country.

In February 2024, Macy’s announced that it would shutter about 150 locations over a three-year period (while opening some 15 new locations of Bloomingdale’s, which Macy’s also owns). In December,fef777 cassino Neiman Marcus, one of the country’s most illustrious names in retail, was acquired by the company that also owns Saks Fifth Avenue. Soon after came announcements that certain Saks and Neiman Marcus locations were closing.

ImageThe two-story store is at 1 Wall Street in the financial district of Manhattan.

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