Henri Bendel has recently unveiled its new strategy to adapt to the turbulent economy. The 114-year-old luxury department store, will discontinue selling clothing and focus instead on its accessories and cosmetics collections. We’re confident in our strategy to focus on accessories, beauty and gifts.” He went on to say, “It’s a natural progression. Fashion isn’t where we’re seeing our growth” and with it representing only 25 percent of Bendel’s sales, the rest being accessories, they are now focusing on where the business was already going.
The brand is evolving, changing its business model from the department store that was founded in 1895. Part of this new strategy is to consolidate their retail space. Bendels is expanding its own brand and opening up six accessories-only Bendel stores in shopping malls nationwide this year, where they will only offer Bendel’s branded merchandise. The concept, Bucciarelli said, is “viable in every A mall in the country. We think our strategy will allow us to be successful both domestically and globally.
