Printemps NYC: Qatar's Latest Luxury Investment in New York City
CEO of the Printemps Group Jean-Marc Bellaiche and editor-in-chief of Vogue Anna Wintour. Photography by Orchid Clay @theorchidclay
On March 21, 2025, a landmark event took place in New York City with the opening of the French luxury department store, Printemps, at 1 Wall Street. The store's grand opening was marked by a ribbon-cutting ceremony, officiated by Anna Wintour, Editor-in-Chief of Vogue Magazine, introducing an unparalleled Parisian shopping experience to the New York market. This event is another significant milestone for the Qatar Investment Authority (QIA), which continues to strengthen its presence in the global luxury retail sector.
A Sophisticated Parisian Experience
Printemps, renowned for its luxury, fashion, and beauty offerings, made an unforgettable debut in New York with over 1,500 exclusive brands available to local and international buyers. The store is a stunning blend of fashion, art, and high-end retail, with a design inspired by intricate mosaics and Art Deco aesthetics. Visitors were not only treated to an impressive array of luxury goods but also enjoyed five distinct dining options, exceptional hospitality, and access to an atelier and repair shop. The store promises to provide an elevated shopping experience, with the type of sophisticated charm that has made Printemps a household name for over 150 years.
Anna Wintour has been involved with Printemps in a few ways, particularly through fashion events and collaborations. One of the most prominent is her involvement with the store’s activities and collaborations in the fashion world.
Photography by Orchid Clay @theorchidclay
Printemps: A Historic Journey
Founded in 1865 by Jules Jaluzot and Augustine, Printemps has a rich history rooted in innovation and resilience. The brand weathered a devastating fire in 1881 that destroyed its original building but emerged from the tragedy stronger, introducing revolutionary architectural designs that would come to define its legacy. The store’s renovation in the 19th century under the direction of Jules Jaluzot and architect Paul Sédille set a new standard for retail architecture.
In 2013, Printemps became part of Qatar's expansive luxury portfolio when the Qatar Investment Authority (QIA) acquired the store through its investment vehicle, Divine Investments SA (DISA). This acquisition, which saw QIA take full ownership of the department store, underscored Qatar's strategic focus on high-end retail as a key part of its broader investment strategy.
Qatar's Growing Influence in Luxury Retail
QIA's involvement with Printemps is just one part of its broader investment strategy in luxury retail. Through its affiliated investment vehicles like Mayhoola for Investments, QIA has made significant acquisitions in the fashion world. Notable purchases include:
Valentino: In 2012, Mayhoola acquired the renowned Italian fashion house for around $850 million.
Balmain: In 2016, Mayhoola purchased the French fashion house for €485 million.
Pal Zileri: Mayhoola also holds a majority stake in the Italian menswear brand Pal Zileri.
These acquisitions, among others, reflect QIA's ambition to dominate the global luxury market. The fund has also invested in brands like LVMH, Tiffany & Co., and Harrods, further solidifying its footprint in the high-end retail sector.
Photography by Orchid Clay @theorchidclay
QIA’s Strategy for Luxury Investments
The QIA’s luxury investments align with several key strategic objectives:
Economic Diversification: As Qatar’s wealth is largely derived from oil and gas, QIA’s investments in luxury retail serve to diversify the country’s portfolio, reducing reliance on energy revenues.
Enhancing Global Influence: By acquiring iconic luxury brands, Qatar aims to enhance its soft power and cultural influence on the world stage.
Financial Returns: These investments offer significant potential for returns, ensuring that QIA's portfolio remains robust and profitable.
Domestic Luxury Market Development: Qatar’s luxury investments, such as Harrods and Printemps, also serve to develop the local luxury market, catering to the growing affluent consumer base in the Gulf region.
A view for the future and business opportunities
QIA’s expansion into luxury retail with investments like Printemps in New York highlights Qatar’s strategic approach to enhancing its global influence, diversifying its economic portfolio, and contributing to the growth of the international luxury market. As the brand continues to evolve, it remains clear that Qatar is committed to making a lasting impact on the world of high-end fashion and luxury retail.
You and your company can take advantage of QIA’s participating The Found of Founds Program, which aims to help close the current funding gap for entrepreneurs by providing financial resources while facilitating broader ecosystem support (e.g., helping to navigate the local landscape, supporting business introductions), bringing global best practices and capabilities to Qatar:
To apply to QIA’s Fund of Funds program, fund managers should fill the application form, and fill the commercial form template. In addition, fund managers can submit an addendum with supporting documentation regarding the fund and / or the fund manager (e.g., a pitch deck)
The completed application pack should be sent to qatarfofinbox@qia.qa.
