Move over, 24 Sèvres: Printemps is the current merchant to dive into the significantly congested field of luxury with the prepared launch of a website dedicated to top-end brand names by 2020, primary executive officer Paolo De Cesare said Tuesday.”We want to develop a deal for high-end and designer, which
will be under the banner of Printemps.com, “De Cesare informed a press conference held at Perruche, the brand-new roof dining establishment at the Printemps flagship on Boulevard Haussmann here.The Qatari-owned outlet store chain is targeting
a launch date of late 2019 or early 2020 for the site, which will complement its existing e-commerce platforms: Place des Tendances, which offers modern and high-street brands, and Citadium, its young and stylish retail banner.”Exactly what we see in e-commerce resembles retail: We are moving from generalist
website like Amazon, that sells definitely whatever and attempts to go higher in the market, to specialized web sites that are very focused on particular target groups– and that’s what we believe we will do,”he explained.Printemps, which is on track to post record revenues in 2018 despite a background of declining clothing sales, plans to invest more than 6 million euros to upgrade its existing e-commerce facilities in Pantin near Paris, with a view to capturing an international audience, De Cesare said.While Place des Tendances competes against the similarity Asos and Zalando, “on the luxury, we will be more positioned against Net-a-porter and
Matches,”he added.Analysts at HSBC anticipated the online percentage of high-end sales will grow from 7 percent in 2015 to around 12 percent in 2020, representing as much as 40 percent of
the market’s growth overall. Printemps first entered into e-commerce with the acquisition of Location des Tendances from media company TF1 Group in 2013. At the time, De Cesare stated the merchant wanted to create a minimum of 10 percent of its sales from the channel within 3 to four years. He now projects online sales will eventually represent 15 percent to 20 percent of
turnover, versus 6 percent to 7 percent at present. “Do we have international ambitions? Definitely, yes. We have already about half of our sales that occur with worldwide clients, and we desire to provide an opportunity to buy our items even if they’re not concerning Paris,”the executive said.Though he
decreased to comment on the efficiency of 24 Sèvres, the worldwide website of competing department store< a href =https://footwearnews.com/2018/fashion/news/stella-mccartney-hologram-workout-paris-galeries-lafayette-1202569463/ > Le Bon Marché released by luxury conglomerate LVMH Moët Hennessy Louis Vuitton last year, De Cesare noted that Printemps plans to totally make the most of its trademark name in marketing luxury products online.”Printemps.com will be the very best and just multichannel seller that will utilize a very, very strong collaboration and partnership between the flagship and the e-commerce, and in some way I believe that this is something that other sites have a bit lost, consisting of even in the name, which doesn’t offer a lot of distance between the retail and the e-commerce,”he said.”I really think that this symbiosis in between the retail and the digital part will be essential, and what we see is that the pure players are investing a lot to produce a flagship,” De Cesare said, noting that Farfetch.com purchased landmark style store Browns, and Matchesfashion.com recently opened a 2nd town house in London.” The pure players are attempting to do retail to provide reliability to their expertise, and we have that. We have among the most lovely shops, so if we are able to translate some of the worths of the shop on the digital element, we will be doing rather well,” he said, adding that U.S. outlet store are ahead of their European counterparts in this respect.Eric Goguey, ceo of 24 Sèvres, has decreased to share any figures on the first year of operations, beyond revealing that worldwide sales represent a large proportion of profits. The website, named after Le Bon Marché’s historic place at 24 Rue de Sèvres, delivers to at least 40 to 50 countries worldwide weekly. The Louboutin zone at Printemps beauty.Jean-Jacques Guiony, primary monetary officer at LVMH, said recently the group did not expect e-commerce total to generate considerable revenues.”We mostly view the digital technique as a complement to the brick-and-mortar method. Basically, what individuals desire is to obtain information online and do the shopping off-line,”he said during a teleconference in July to go over LVMH’s first-half results.
to go over LVMH’s first-half results.
“I’m not saying that digital will not end up taking a share of the worldwide business, but we do not anticipate this share to be a significant one,”Guiony added.For department stores, developing a strong online service is vital at a time of faltering high-street shopping.At the press conference, De Cesare flashed slides revealing French fashion sales have actually declined 2.2 percent in the very first half of 2018, keeping in mind the marketplace was on track for its biggest annual decline considering that 2011,
following a rise of 0.5 percent in 2017 as a whole, highlighted by a stable shift from physical retail to e-commerce. Even as U.K. merchants such as Home of Fraser struggle, Printemps anticipates sales to grow 6 percent to 8 percent in its 2018-19 financial year ending next March. The Haussmann flagship is anticipated to be the primary driver of development, with sales set to rise 8 percent to 10 percent, while the other 18 stores in the chain are forecast to log a boost of simply 1 percent.De Cesare stated the Haussmann store has actually seen a boost in traffic considering that the end of its multiyear, 100-million-euro restoration, which saw a total revamp of its guys’s, beauty, homewares and kids’s offer, and the addition of food. The Paris flagship ought to draw 25 million visitors in 2018, and its sales are anticipated to top 1 billion euros for the very first time.” This story was reported by WWD and originally appeared on WWD.com.