PARIS – Jean-Marc Bellaiche has stepped down as chief executive officer of Printemps, less than six months after opening a splashy outpost in New York City, the French retailer said on Thursday.

The executive notified the department store chain’s supervisory board that for “personal reasons” he had decided not to renew his contract, which expires on Sept. 15.

“After five years as CEO of the Printemps Group, we would like to thank Jean-Marc Bellaiche for his commitment and the successful transformation he has brought about within the group,” the Printemps supervisory board said in a statement.

Bellaiche came on board at the height of the coronavirus pandemic, taking up a position that was left unfilled for six months following the sudden departure of his predecessor, Paolo de Cesare, after a 13-year run.

Printemps was acquired in 2013 by Divine Investments SA, a Luxembourg-based investment fund backed by Sheikh Hamad bin Khalifa Al Thani, the former emir of Qatar.

Bellaiche joined the retailer from Contentsquare, the French start-up which provides information about consumer behavior online and helps e-commerce sellers adapt their offer accordingly.

He spearheaded a broad rejuvenation that included a rebrand, a pivot towards local customers and a digital transformation of the retailer, which launched its e-commerce site in March 2020 just as the country went into lockdown. But his most visible legacy is the opening of the One Wall Street location, with its landmarked Art Deco Red Room.

A graduate of the Ecole Centrale de Paris and INSEAD, Bellaiche spent more than 20 years at Boston Consulting Group, where he was senior partner and managing director. He was also BCG’s global leader for the Luxury Fashion, Beauty and Department stores sector and co-led the digital sector within BCG’s retail practice.

In 2014, he joined Tiffany & Co. as senior vice president of strategy and business development, boosting the non-jewelry categories and accelerating the digital transformation of the brand.

In an internal memo seen by WWD, Bellaiche listed the achievements of his Printemps tenure in the face of powerful sector headwinds.

He said e-commerce sales now represent 10 percent of revenues for brands available both in-store and online.

Bellaiche touted the extension of luxury brand’s shop-in-shops, including a new Louis Vuitton store opening soon in the men’s department, and the introduction of accessible brands such as Typology and Westwing, to be joined soon by Topshop. Meanwhile, private label Saison 1865 has seen “exceptional” growth over the last three years, he said.

The executive also oversaw a revamp of the Deauville branch in France, which was transformed into a colorful concept store aimed at wealthy holiday-makers.

“After my five-year mandate, and despite a complicated economic context, I am leaving a stronger Printemps group, which has become profitable again, with a cleaned-up business model, a strengthened executive committee and teams and, for me, the feeling of a mission accomplished,” he said.

Bellaiche said Friday would be his last day, and he plans to announce his next move soon.