What: The French department store will open a flagship location in the historical One Wall Street building as part of its expansion and rebranding plan.

Why it is important: As the American spending power and interest in luxury grows, Printemps’ plans to open in New York will allow the company to tap into the intense touristic flows of the city which could also raise brand awareness for when American tourists visit Paris.

The luxury retailer is planning to utilize the recently renovated and refurbished landmark space to its advantage, bringing a curated mix of brands to the 54,365-square-foot allocation across two levels in the Financial District’s One Wall Street building. The Art Deco landmark has recently undergone a $30 billion overhaul to convert the former bank headquarters into a mixed-use retail and residential tower.

Recovering from Covid and leveraging the returning power of physical retail, Printemps has more plans for overseas store openings and rebranding over the next decade. The company has also been working to grow its global e-commerce footprint, making New York ideal to capture the US while maintaining visibility. The New York location will be the second in its overseas expansion as Printemps is on track to open in Doha, Qatar, this October.

The New York store is expected to open in early 2024.

Printemps to open New York flagship