French department store chains are currently CEO-less
After a five-year tenure leading the iconic Parisian department store chain, Jean-Marc Bellaiche has announced his departure from Printemps. The news comes as Bellaiche's contract is set to expire on September 15, with his exit attributed to "personal reasons."
Bellaiche, a graduate of Γcole Centrale de Paris and INSEAD, has had an illustrious career before joining Printemps. He spent two decades at Boston Consulting Group (BCG), where he rose to the rank of senior partner and global director of the luxury, fashion, and department stores area. Prior to his role at BCG, Bellaiche served as senior vice president of strategy and business development at Tiffany & Co.
Bellaiche's impact on Printemps was immediate and significant. He led the relaunch of the department store chain, which has been owned since 2013 by the Luxembourg holding Divine Investments SA, backed by the former emir of Qatar, Hamad bin Khalifa Al Thani. During his tenure, Bellaiche spearheaded a repositioning that included the digitalization of the group, with the launch of the e-commerce platform in March 2020.
One of the highlights of Bellaiche's tenure was the opening of Printemps New York, which took place less than six months before his departure. The 5,000 square meter space in One Wall Street marked the company's first foray into the American market and featured the iconic Art Deco Red Room. Bellaiche considered the opening of Printemps New York key to giving international visibility to the historic Parisian department store chain.
During the health crisis, Bellaiche shifted the focus towards local customers, strengthening the Printemps offer with the expansion of Louis Vuitton spaces, the addition of accessible brands like Typology, Westwing, and soon Topshop. One of the most notable achievements during his tenure was the renovation of the Deauville store.
The supervisory board of Printemps thanked Bellaiche for his "commitment and successful transformation" during his tenure. Bellaiche, in an internal email, stated that he was leaving a stronger group, back in the black, with a sound model and a reinforced management team.
As of now, there is no official announcement regarding Bellaiche's successor or the date he assumed the new position. Bellaiche has not yet revealed his future professional plans, but has hinted that he will announce them "very soon."
Bellaiche's departure from Printemps marks the departure of the top executive since 2020 at the department store chain. Despite his departure, Bellaiche leaves behind a legacy of transformation, innovation, and growth that will continue to shape Printemps for years to come.
