11 November 2020
The Weekly

Printemps is planning to close four Printemps stores located in Paris, Le Havre, Strasbourg and Metz, and three Citadium stores (Paris, Toulon), as part of a relaunch plan. Printemps group is currently managing 19 department stores in France, as well as eight Citadium stores; it employs around 3,000 persons. The group has been evolving in a structurally difficult market marked by a succession of economic crises (attacks, demonstrations of yellow vests, strikes), not to mention the Covid epidemic which drastically reduced tourist flows. The plan now is to transform the company’s model and adapt to the market demands to ensure a long-term sustainability. The group intends in particular to strengthen the differentiation of its offer and redevelop its customer base, with related investments of €40mn each year over the next two to three years.