Bonwit Teller is Being Revived
The Bonwit Teller name is coming back. River West Brands Inc. (Chicago) said it will likely open a flagship store in New York by the end of 2009 and a door in Los Angeles after that.
Ultimately, said Andrei Najjar, the interim ceo hired to relaunch the venerable name, the chain could expand to about 20 stores in the U.S.
Bonwit Teller was founded in 1895 and became one of the country’s leading fashion retailers, with a flagship store on New York’s Fifth Avenue and sites on all the prominent shopping streets and in all the upscale malls. It went out of business in 1990.
Najjar is the co-founder and ceo of Social Atelier Brands (Los Angeles), a designer of premium fashion lines aimed at promoting awareness of social issues. He previously held top positions with Abercrombie & Fitch, Hollister, Target, Banana Republic and the Gap.
“Andrei’s unique expertise as an award-winning designer, business leader and entrepreneur makes him exceptionally qualified to bring new life to Bonwit Teller,” said River West ceo Mark Thomann. “A crucial component of our business model is to assemble world-class management teams to incubate and relaunch well-known brands. Andrei’s vision for leading the rebirth of this beloved American classic complements our model and matches our long-term objectives.”
“Bonwit Teller set the standard for the high-end shopping experience for a century,” said Najjar. “I am excited to revitalize Bonwit’s heritage for today’s marketplace. Bonwit once outfitted fashion icons such as Jackie Kennedy and Grace Kelly – the new Bonwit will evoke that sense of glamour, with a modern twist.”
Source: VMSD.com
