French department store chain Printemps has entered into exclusive negotiations to buy online fashion website Place des Tendances from media firm TF1 group.

The potential deal would see Printemps acquire an 80% interest in the online store, held by TF1 via its Téléshopping subsidiary. It will also acquire the 20% held by founders Christine Feuchot and Bertrand Rochebillard, who will remain with the company to grow the business.

A joint statement said an agreement could be signed in the coming weeks once the negotiations have been finalised and the necessary procedures are complete.

Place des Tendances launched as an online fashion department store in 2008 and offers collections from more than 200 fashion brands.