1 April 2022
The Weekly
France

The redesigned printemps.com site, featuring the brand’s new green, white and gold color scheme and stylized letter “P,” launched on Saturday. It is featuring new functionalities including a simplified checkout system; the launch of a second-hand offer, and a section curated by 40 personal shoppers. It also hosts a virtual boutique, where buyers will automatically enter a draw to win 30 NFTs designed with French artist Romain Froquet.

To access the virtual store: https://web3.printemps.com/en

Printemps also disclosed its annual sales: Comparable sales between April 2021 and March 2022 rose 38% year-over-year, and were down 12% versus the same period in 2020, thanks in part to a rebound in tourism in the fourth quarter, despite the continued dearth of Asian visitors. CEO Jean Marc Bellaiche said it would take another two or three years before the retailer returns to that level, noting that footfall is down 30% from 2018. In the last year, Printemps has ramped up spending on digital activities. E-commerce sales in the last 12 months were up 31% versus fiscal 2020, while omnichannel revenues rose 52%. Meanwhile, the group has seen an acceleration of sales to local customers, up 10% versus two years ago, and a return of foreign visitors. Between October and December, sales to U.S. customers rose 53% versus the same period in 2019, while those from Europe and the Middle East registered a 23% bump. The company does not expect Chinese tourists to return before the end of 2023.

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