Henri Bendel stores will close after 123 years in business

Parent company Limited Brands (L Brands) announced the closure in January of 2019 web site and 23 retail shops Bendel, including at 714 Fifth Avenue in new York. The reason for the decision became sluggish sales.

The closing of Bendel would «enhance the company’s profitability and focus on our larger brands with greater potential for growth», for example, Victoria’s Secret and Bath & Body Works. On Thursday, September 13, reported in a press release billionaire Leslie Wexner, who is its co-founder and CEO.

Bendel is a small percentage of sales L Brands. Last year, L Brands revenue reached $12.6 billion Revenues Henri Bendel in 2018 will be about $85 million, and operating loss of $45 million the company is currently in the process of evaluating the costs associated with the closure of the business.

The brand name «Bendel», which opened its doors in new York’s Greenwich village in the late XIX century, was founded by Henry (Henri) Bendele from Louisiana, who has previously worked in the city of Lafayette on the creation of women’s hats. He moved in 1895 to new York, he began to conquer the elite of the city’s first luxury hats, then, after the expansion of the business, women’s costumes from France, designer purses and shoes. In 1913, the brand opened its flagship store on Fifth Avenue and became a symbol of wealth and luxury: with the brand bag and box in white brown stripe wanted to get out of the store every fashionista. In the 1960s, one of the illustrators Henri Bendel was Andy Warhol.

Previously, we reported that sales of Nike increased by 31% compared to the previous year after the break with Colin Kapelnikom.