The Retail Apocalypse Continues: L Brands to Close All Henri Bendel Stores

By GRACE DOBUSH 7:36 AM EDT

After 123 years in business, department store Henri Bendel is closing up shop for good after the holiday season, the Wall Street Journal reports. ... Known for its brown-and-white-striped bags, Henri Bendel was founded in 1895 by its namesake, a designer from Louisiana. When L Brands (LB, +2.08%) acquired Henri Bendel in 1985, it was by far the most luxury holding in its portfolio of mall retailers, which includes Bath & Body Works. It expanded Henri Bendel outside of New York City in 2008, and in 2009 stopped selling apparel to focus on just handbags and accessories. Now all 23 of its stores and its e-commerce website will close in early 2019.

In its heyday, Henri Bendel was as iconic a New York department store as Bergdorf’s and Bloomingdale’s. It claims to have pioneered the semiannual sale and store-in-store displays. It introduced Coco Chanel‘s designs to the United States in 1913, and it employed Andy Warhol as an in-house illustrator in the 1960s. Recently, though, observers say the old-school presentation of luxury hasn’t been resonating with millennial women, who prefer more subtle brands.

In closing down Henri Bendel, L Brands said it wants to focus more on its core businesses, such as Victoria’s Secret, which has struggled in recent quarters. L Brands reported revenue of $12.6 billion last year; Henri Bendel accounted for $85 million of that. It recently cut its full-year earnings guidance due to Victoria’s Secret’s declining sales.

It’s a tough time for department stores in the United States generally. Lord & Taylor announced this summer it was closing up to 10 of its 50 stores, including its Fifth Avenue flagship in New York City. Shopping center operator Westfield reported last year just 28% of revenues now come from department stores, compared to 42% a decade ago. Macy’s (M, -1.32%) is seeing some improvement in sales so far with its plan to make stores nicer, however; it recently raised its forecast for the year.
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BUSINESS

Henri Bendel to Close After 123 Years

Owner L Brands says move is part of efforts to improve profitability and focus on brands like Victoria’s Secret

By Khadeeja Safdar
Sept. 13, 2018 7:47 p.m. ET

Henri Bendel, the specialty retailer known for its signature brown-and-white bags, is shutting down after more than a century in business.

L Brands, which acquired the retailer in 1985, said it would close all 23 Henri Bendel stores, including its Fifth Avenue location, and its website, after the holiday season. The company said it plans to focus on its larger businesses including Victoria’s Secret, which has struggled in recent quarters.
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Henri Bendel, 123-year-old luxury retailer, closes the doors

Updated 7:41 am PDT, Friday, September 14, 2018



Photo: Charles Sykes, AP

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FILE- In this Sept. 8, 2011, file photo shoppers gather outside the Henri Bendel store on Fifth Avenue during Fashion's Night Out in New York. Henri Bendel, known for its brown and white striped shopping bags, is closing in the new year. The luxury retailer’s parent company, L Brands Inc., said that Henri Bendel’s 23 stores and its website will shut down in January but that it’ll carry new merchandise during the holiday season.

NEW YORK (AP) — The luxury retailer Henri Bendel, which opened its doors in New York's Greenwich Village at the end of the 19th century, is closing.

L Brands Inc., which acquired the brand in 1985, said that the 23 Bendel stores will turn out the lights in January. The Columbus, Ohio, company said it wants focus on larger brands with more growth potential.

Henry Bendel was a women's hat maker from Lafayette, Louisiana. He moved to New York 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. In the 1960s, its in-house illustrator was a young artist named Andy Warhol.

The company's flagship store on New York's 5th Avenue, steps away from Trump Tower, is a landmark in Manhattan.