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.
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.