Printemps CEO Confident In Christmas, Luxury Focus

By Lionel Laurent

PARIS, Nov. 13 | Fri Nov 13, 2009 11:01pm IST

(Reuters Life!) - Printemps' flagship Paris department store says it is set to reap the benefit of a $105 million refurbishment and a new luxury strategy as it kicks off the Christmas season.

The retail chain's chief executive, Paolo de Cesare, told Reuters on Thursday he was "optimistic" about holiday trading at a time when French consumers are still showing signs of caution.

"Summer was difficult, but I see now customers coming back," said de Cesare. "In the end there is the spending power, and consumers are ready to invest where they find the right opportunity."

De Cesare said a week of sales in mid-November had brought in 30 percent revenue growth when compared to the same period a year ago. He added the discounts were "very targeted" and would not affect holiday trading or bigger January sales.

New data on Friday showed the French economy grew by 0.3 percent in the third quarter of 2009, with job losses slowing while consumer spending stabilised.

The holiday season is still expected to be subdued, according to several analysts, citing rising unemployment and the strong euro's negative impact on tourism flows.

"Although consumption is not plummeting like some people feared, it's still really weak when compared to historical patterns," said Diego Iscaro, an economist at IHS Global Insight.

(Read on....)

Louvre Plays Home To Apple's First French Store

By Lionel Laurent

PARIS | Fri Nov 6, 2009 12:42pm EST

(Reuters) - Computer giant Apple Inc will open its first French store beneath the Louvre museum on Saturday just two weeks after Microsoft opened a theme cafe to promote its Windows 7 software.

Although Microsoft had a head start promoting its new Windows operating system in France, Apple has placed its first store in a prized position in the bowels of the Louvre museum's "Carrousel" shopping center.

Both companies have large operations in France, according to Paul Jackson, an analyst with Forrester Research, but he said Apple in particular was looking to burnish its premium image with its new Paris site.

"It's more to do with the feeling of association with premium shopping than necessarily the market itself," said Jackson. He said France as a technology market tended to lag behind Britain and Germany, which already have Apple stores.

Apple's French expansion will take place against an uncertain economic background, with consumer spending in France still volatile and supported by government measures such as the car scrappage scheme.

(Read on...)