Century 21 reopens flagship store in NYC

Dive Brief:

• After the family of its founder repurchased the brand, Century 21 is reopening its flagship location in Manhattan’s Financial District in New York City, the retailer announced on Monday.
• The renovated 100,000-square-foot location will feature apparel, footwear, outerwear, handbags, accessories and fragrances for men, women and kids. Among the luxury designers the retailer plans to carry are Givenchy, Fendi, Chloe and Hugo Boss.
• The retailer also unveiled an updated logo, with “NYC” replacing “Department Stores” as a nod to the brand’s birthplace and flagship location. The retailer is holding a grand reopening ceremony on Tuesday.

Dive Insight:

Plenty of retailers struggled during the early days of the COVID-19 pandemic, and Century 21 was no exception. In September 2020, the off-price department store filed for Chapter 11 bankruptcy after operating for 60 years. It shut down its 13 stores across New York, New Jersey, Pennsylvania and Florida.

But the Gindis, the family of Century 21’s founder, didn’t accept the setback for long. The family bought back the intellectual property for the retailer and in 2021 appointed Marc Benitez as its new president to relaunch the company.

About a year ago, the retailer first announced the plans to reopen the store at its flagship location in New York this spring. And as was announced last May, the company tapped Legends, the high-end experiences company, to partner on the store’s relaunch.

“Although the past 3 years have proven a difficult time for all, New Yorkers will always endure,” Raymond Gindi, Century 21 co-chief executive officer, said in a statement. “The amount of love, passion and excitement since announcing that we are coming back has brought an energy to downtown Manhattan and we are so excited to be reopening at our original location with a focus on the designer-fashion apparel and accessories that has been a core part of our business from the start.”

Source: Retail Dive