Every fashion-forward girl owned a Henri Bendel bag. Every Gossip Girl junkie (me!) wanted one— after all Serena and Blair loved shopping at this store throughout the series, even popping up in Blair’s Audrey Hepburn dreams. But after 123 years in business, the iconic luxury boutique is officially closing up shop, all 23 of its brick-and-mortar stores and e-commerce site to be exact.
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The brand is turning off its lights come January 2019, after opening its doors 1895. According to Business of Fashion, Henri Bendel is expected to pull in $85 million from 2018 alone. Even so, the decision to shut down completely is due the brand’s inability to stay afloat and poor sales. Instead, L Brands Inc., which acquired the luxury brand in 1985, is focusing more on the company’s other brands, including Victoria’s Secret, Bath & Body Works, and Express.
“We are committed to improving performance in the business and increasing shareholder value. As part of that effort, we have decided to stop operating Bendel to improve company profitability and focus on our larger brands that have greater growth potential,” Leslie Wexner, chairman and chief executive officer of L Brands, told WWD in a statement.
#BendelGirls immediately took to Twitter to mourn the end of the beloved brand.
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Wexner continued: “This decision is right for the future growth of our company, but not easy because of the impact to our L Brands family. I want to thank our Bendel associates for their dedication to this iconic brand and to our loyal Bendel customers.”
Could there be a massive sale on the horizon? Possibly. But for now, Henri Bendel is offering a free mini wallet with the purchase of its best-selling Influencer Backpack or Tote Bag.
