19:26 31 December 2016
Printemps Ginza closes after 32 years of operation
TOKYO, Dec. 31, Kyodo
Department store Printemps Ginza ended operation Saturday with the expiry of a contract with its French licensee, after doing business for 32 years in central Tokyo's famed Ginza shopping district.
Most of the building will be refurbished and reopen on March 15 as Marronnier Gate, a new commercial complex. But some stores in the building including a Uniqlo clothing shop will continue operating from Monday.
Printemps Ginza opened in April 1984 under a tie-up between the famed French department store Printemps and the Japanese supermarket chain Daiei Inc.
But when Daiei began experiencing financial trouble, a 70 percent stake in Printemps Ginza was taken in 2002 by the Yomiuri Shimbun and 30 percent by what is now Isetan Mitsukoshi Holdings Ltd.