Printemps was originally an upscale department store chain owned by Pinault Printemps-Redoute, the world's third largest luxury and retail giant. It was later acquired by Maurizio Borletti, Chairman of the Board of Directors and the main holding company of the famous Italian Renaissance department store (La Rinascente), together with RREEF, a subsidiary of Deutsche Bank. The acquisition by the Borletti Group allowed Printemps to retain its French identity under its original name.