You know things have gotten expensive when Henri Bendel can’t afford the rent. With annual rent of $6.5 million for their Flagship store, who can blame them.
L Brands has announced that all Henri Bendel stores as well as the department store’s website will be shutting down. The Columbus, Ohio American fashion retail company also operates the brands Victoria’s Secret, PINK, Bath & Body Works and La Senza. L Brands, says, “We have decided to stop operating Bendel to improve company profitability and focus on our larger brands that have greater growth potential.”
“L Brands” once went by “The Limited” acquired Henri Bendel in 1985. Henri Bendel has a total of 23 stores in NY, NJ, PA, OH, FL, CA, GA, IL, MI, TX and NV. The flagship location at 712 Fifth Ave. will be open through the holiday season, through January 2019. It is reported the store’s current 85,917 square-foot lease doesn’t end until Feb. 28, 2021, and that Bendel will still be responsible for $6.5 million annualized rent amounting to $13 million.
Henri Bendel was born in Lafayette, LA in 1868 and moved to NYC. He opened his first shop in the Village in 1895. The department store’s website states Bendel was the first retailer to brand himself. He also designed the store’s brown and white striped shopping bags.
We will miss their classic brown and white pinstripes.
Written by Seth Goldstein / Seth@NYNJ.COM / © NYNJ MEDIA