U.S. retailer Henri Bendel, which sells handbags, jewelry, fashion accessories and presents, will cease to exist after 123 years of operation, finance.ua reports quoting The Wall Street Journal.
The consumers recognized Henri Bendel for noticeable handbags with wide brown and white stripes.
After Christmas and New Year’s celebrations, the group of companies L Brands, the part of which is Henri Bendel, will close all 23 stores, including its flagship store on Avenue 5 in New York, and the website.
“We decided to terminate Bendel in order to increase the company’s profitability in general and focus on larger brands with more significant growth potential”, the CEO and Chairman of LBrands stated Leslie Wexner said.
Henri Bendel’s share in L Brands’ proceeds is not high: between $45 mln and $85 mln per year versus $12.6 bln in total.
Except for Henri Bendel, L Brands, created in 1963, owns such famous brands as Victoria’s Secret, PINK, Bath@Body Works and La Senza. The company manages over 3 thousand store in the U.S, Canada, U.K., Ireland and China as well as has over 800 franchises worldwide, selling female underwear, cosmetics, care products, clothes and accessories.
