Printemps president Jean-Marc Bellaiche to step down
Paris - Jean-Marc Bellaiche, president of department store chain Printemps since 2020, will leave the group in mid-September. The company confirmed the news to FashionNetwork and told AFP it is searching for a successor.
Mr Bellaiche, 55, has chosen not to renew his term, which expires on September 15, for personal reasons. The company noted this in a statement to AFP.
"After careful consideration and the feeling of mission accomplished, the time has come for me to invest in a new project that I will share later," Mr Bellaiche said in a message to group employees, seen by AFP. His last day with the group will be September 12. He expressed pride that the group is now stronger and profitable again.
Printemps' supervisory board, led since 2013 by Qatari shareholders of the Disa fund, thanked Mr Bellaiche for his commitment and the successful transformation of the group under his leadership. The executive committee will ensure the transition until a successor is appointed.
Mr Bellaiche succeeded Paolo de Cesare in autumn 2020. He aimed to revive the brand, weakened by the Covid-19 pandemic and the loss of a large portion of its international clientele. A job protection plan launched in 2021 resulted in the loss of several hundred jobs and the closure of three stores.
A former expert at Boston Consulting Group (BCG), and with experience at Tiffany's, Mr Bellaiche also worked to modernise the brand, notably through a new visual identity. He also contributed to its international expansion. This included opening a Printemps department store in Doha, Qatar, in 2022, the first abroad, and then in New York, US, in March 2025.
Printemps Group now has 3,300 employees and 30 stores (21 Printemps stores, including two outlet stores and nine Citadium stores).
The company declined to disclose its turnover to AFP. It stood at 1.7 billion euros in its staggered 2017-2018 financial year.
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