Le Printemps President Jean-Marc Bellaiche Departs After Transformative Five Years

Jean-Marc Bellaiche, who took the helm as president of French department store group Le Printemps in 2020, will conclude his transformative tenure on September 15. Since his appointment, Bellaiche has been credited with a significant overhaul of the business, introducing a new visual identity, revitalizing the product assortment, spearheading international expansion with a new branch in New York, and reorganizing the group amidst the challenges of the post-pandemic era.

Bellaiche announced his departure in an internal memo to staff, obtained by FashionNetwork.com, stating his decision not to renew his mandate upon its expiry. "After mature reflection, and with the feeling of having accomplished my mission, I have decided not to renew this mandate upon its expiry," he wrote. He acknowledged the difficulty of the decision due to his deep attachment to the institution and its employees, but indicated that "the time has come for me to devote myself to a new project, whose details I will share in future." Le Printemps was acquired by the Qatari investment fund Disa in 2013.

Effective September 15, Le Printemps’s executive committee will assume leadership on an interim basis while the group’s supervisory board initiates the search for a new president. The supervisory board expressed gratitude for Bellaiche's contributions, stating, "After his five years as president of the Printemps group, we would like to thank Jean-Marc Bellaiche for his commitment and the transformation he successfully executed within the group." Bellaiche had succeeded Paolo de Cesare in September 2020.

Under Bellaiche's leadership, Le Printemps underwent a comprehensive makeover, blending organizational streamlining, market repositioning, and an ambitious internationalization drive. His initial focus was on restoring profitability, which included closing underperforming branches such as Italie 2 in Paris and the Strasbourg location, alongside a major internal restructuring. He also revamped the senior executive team, notably by increasing the representation of women, and injected new vigor into the group's Corporate Social Responsibility (CSR) strategy, adopting the slogan "Unis vers le beau responsable" (Together for positive engagement).

Further enhancements included a clearer department store brand identity, a revamped visual presence, and new concepts for Le Printemps's own brands, exemplified by the launch of Saison 1865. Crucially, Bellaiche revolutionized the group's customer strategy, aiming to attract both French and international clientele. He also embraced the evolving digital landscape and significantly enhanced the personalized shopper service, noting in his staff letter that online sales now contribute 10% of Le Printemps's revenue and 12% for Citadium.

Bellaiche also significantly expanded the group’s international footprint. This included the inauguration of a Printemps store in Doha in 2022, but his most notable achievement in this area was undoubtedly the planned opening of a flagship store in New York in early 2025. Earlier this year, Bellaiche confirmed that the group's operating income had returned to positive territory for two consecutive fiscal years, although the overall bottom line continues to be affected by indebtedness, particularly liabilities incurred during the challenging 2020-21 pandemic period.

In his heartfelt farewell, Bellaiche reflected on the "extraordinary transformations" of the past five years, emphasizing the "strong mark" they left on both the group and himself. He expressed profound gratitude to all employees—from store sales staff to digital, headquarters, group, and support teams—and acknowledged the "strong, cohesive Executive Committee" for their commitment, passion, and the pleasure of working alongside them. He also extended thanks to the supervisory board for their smooth cooperation and to the entire Le Printemps ecosystem, especially the CEOs of partner brands.

This year, Le Printemps’s iconic boulevard Haussmann flagship in Paris is celebrating its 160th anniversary. The group, which last reported revenue of €1.7 billion in 2018, currently employs 3,000 individuals across its 21 Printemps department stores, nine Citadium stores, the Place des Tendances and Made in Design e-shops, and its administrative and logistics functions.