After 123 years in enterprise, Henri Bendel will likely be closing its doorways in Jan. 2019.
Bendel’s guardian firm L Manufacturers, which acquired the division retailer in 1985, introduced the information Thursday because of the retailer’s declining gross sales.
Along with shutting down its e-commerce enterprise, L Manufacturers plans to close down all 23 of Bendel’s brick-and-mortar shops, together with the enduring N.Y.C. Fifth Avenue flagship down the road from Bergdorf Goodman and Tiffany & Co.
“We’re dedicated to bettering efficiency within the enterprise and rising shareholder worth. As a part of that effort, we now have determined to cease working Bendel to enhance firm profitability and concentrate on our bigger manufacturers which have larger progress potential,” Leslie Wexner, chairman and chief government officer of L Manufacturers, stated in a press release to WWD.
“This choice is true for the long run progress of our firm, however not simple due to the affect to our L Manufacturers household. I wish to thank our Bendel associates for his or her dedication to this iconic model and to our loyal Bendel prospects.”
A publish shared by Henri Bendel (@henribendel) on Jul 14, 2018 at four:00pm PDT
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Bendel was an early pioneer within the American trend business as the primary luxurious retailer to open an “higher Fifth Avenue handle” and the primary to stage a trend present, based on its web site.
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In 1913, Bendel launched Coco Chanel’s designs to the U.S. and even employed Andy Warhol as its in-house illustrator within the 1960s.
The shop was based by French-speaking American designer Henri Willis Bendel in 1895 as a millinery store in Greenwich Village earlier than relocating to the nook of fifth Avenue and 57th Road in 1912.