Published: Sun, September 16, 2018
Finance | By Loren Pratt

Henri Bendel stores closing after 123-year run for luxury retailer

Henri Bendel stores closing after 123-year run for luxury retailer

Luxury brand Henri Bendel announced Thursday that it's shutting down its website and closing all of its 23 locations, effective January 2019.

According to a statement released by Leslie Wexner, chairman and CEO of L Brands, "We are committed to improving performance in the business and increasing shareholder value". Last year, the company reported total revenue of $12.6 billion. The company said Bendel's 2018 sales were approximately $85 million, adding that it's in the process of estimating closing costs.

There are 23 Henri Bendel stores, include the company's Fifth Avenue store in NY as well as smaller-format stores in 11 states. After all, as the brand's website states, Bendel was the first luxury retailer with an upper Fifth Ave. address, which spurred a whole new world for fashion.

Associates staying with the business through January will be offered retention bonuses. Additionally, once positions are eliminated, they will be "invited to interview for other open positions" within the company.

L Brands operates 3,084 company-owned specialty stores in the United States, Canada, the United Kingdom and China. He moved to NY in 1895 and began catering to the city's elite, making the stores' brown and white striped shopping and bags and hat boxes a coveted status symbol.

If you need us, we'll be purchasing all the Bendel accessories we can.

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