Henri Bendel closing stores, website in January

Henri Bendel closing stores, website in January

Henri Bendel closing stores, website in January

"This decision is right for the future growth of our company but not easy because of the impact to our L Brands family", L Brands CEO Leslie Wexner said in a statement.

Bendel, like other brick-and-mortar retail brands, have been struggling with sluggish sales due to the uptick of online retailers in recent years.

Henri Bendel, known for its signature brown-and-white bags, will close all 23 of its locations.

Henri Bendel, the iconic luxury brand that has its flagship store on New York's Fifth Avenue, is closing after 123 years in business.

"We are committed to improving performance in the business and increasing shareholder value".

The analysts noted that L Brands' Victoria's Secret and Pink businesses are promoting heavily, but that the consumer is not responding.

L Brands Inc., which acquired the brand in 1985, said that the 23 Bendel stores will turn out the lights in January. The company estimates that Henri Bendel will have $85 million revenues and a $45 million operating loss in 2018.

The store's namesake founder was a women's hatmaker from Louisiana who set up shop in NY in 1895.

All stores and the website will remain in operation through January 2019, with new merchandise continuing to arrive through the holiday season.

L Brands operates 3,084 company-owned specialty stores in the United States, Canada, the United Kingdom and China.

The Henri Bendel flagship store is filled with handbags, sunglasses, wallets, jewelry, and other accessories, all elegantly displayed under big, lovely chandeliers and surrounded by gold decor.

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