After an eight-year hiatus, Bonwit Teller is staging a comeback!
According to WWD, a flagship will likely debut in New York by the end of next year and be followed by a store in Los Angeles. Ultimately, the chain could expand to about 20 stores in the U.S., said Andrei Najjar, interim chief executive officer of Avenue Brands, who was recently hired to relaunch the brand and perhaps add others to build a portfolio.
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The stores will focus on luxury retail. "The new Bonwit will continue the brand’s legacy of the unique juxtaposition of timelessness and artistic progression," said Najjar.
Founded in 1895, Bonwit Teller built its reputation by serving generations of high-end customers with looks from new designers, such as Calvin Klein, and featured the work of Andy Warhol, Salvador Dali and Richard Avedon.
Bonwit Teller was eventually impacted by market turbulence and retail consolidation in the Eighties and had four owners in less than 10 years: Allied Stores, Campeau Corp., Hooker Corp. and Pyramid Cos., which ultimately shuttered the last store in 2000.
Read "Bonwit Teller Returning With Stores in N.Y., L.A." here.