Loehmann’s is eyeing a comeback on the net after disappearing practically a decade in the past — and the storied retail model’s unlikely backer is former rival Century 21, The Publish has discovered.
New York-based Century 21 quietly scooped up the Loehmann’s identify in 2020 — six years after Loehmann’s liquidated its chain with its third chapter submitting, in keeping with Century 21’s chief govt Raymond Gindi.
Now, a one-page web site teases that “Loehmann’s is coming back. Online.”
It additionally says the “Back Room is (almost) Back.”
The location, which additionally permits clients to submit an e-mail tackle for future information, exhibits no indication that Century 21 is behind the launch.
“We are networking with a few partners to bring back a re-imagined Loehmann’s experience and will have more to share in the coming months,” Larry Mentzer, Century 21’s chief working officer, advised The Publish.
Mentzer additionally stated there are discussions to open bricks and mortar Loehmann’s shops however added “nothing is confirmed.”
Again of their heyday, Century 21 and Loehmann’s had been fierce rivals in a distinct segment of discounters who peddled designer duds together with Filene’s Basement, Daffy’s and Syms – which all succumbed to stiff competitors from the likes of larger, better-funded rivals like TJ Maxx and Ross Shops.
However, clients nonetheless hanker for Loehmann’s, in keeping with Century 21.
“Loehmann’s continues to rank high as a retail destination that consumers recall, admire [and] want to patronize,” Mentzer added.
The broiling tariff conflict has not “factored into the decision-making process for re-launching “Loehmann’s – at this point,” Mentzer added, insisting that “product is definitely available.”
Each Century 21 and Loehmann’s thrived on the joys of the ‘treasure hunt’ through which consumers dig by racks and bins of designer attire to discover a gem within the tough.
But when the plans proceed, the century-old Loehmann’s model will leapfrog Century 21 digitally.
The latter doesn’t have an e-commerce website and is as a substitute targeted on its flagship retailer at 22 Cortlandt St., which was broken and rebuilt after the World Commerce Middle assaults on Sept. 11, 2001, Mentzer advised The Publish.
The Gindi household’s curiosity in Loehmann’s stems from its wider model recognition throughout the US, together with on the West Coast, sources stated.
“As other retailers contract,” Mentzer stated, that is “the time for a re-imagined Loehmann’s.”
Loehmann’s was based in Brooklyn in 1921 by Frieda Loehmann and her son Charles.
By the point it shut down in 2014 it had 39 shops nationwide, down from about 100 at its peak within the late Nineties.
The chain was well-known for its ‘Again Room” the place consumers may discover designer manufacturers for lower than at conventional shops.
At its apex, it leased the constructing that had housed the unique Barneys retailer at Seventh Avenue and West seventeenth Avenue.
Upon its 2014 liquidation, New York hedge fund Esopus Creek Advisors acquired the Loehmann’s identify in chapter courtroom for $750,000.
One other firm bought the model earlier than the pandemic from Esopus however the identification of the corporate and buy value wasn’t revealed.
Century 21 then scooped up the Loehmann’s label for about $300,000, in keeping with sources aware of the deal.
Mentzer and Gindi declined to touch upon the value.
The 64-year-old Century 21 has had its share of drama over the previous a number of years, together with a chapter submitting in 2020 after which it closed its 13 shops in New York, Pennsylvania and Florida on the time.
The Gindi household blamed the submitting on a beef with their insurance coverage supplier, which didn’t pay out enterprise interruption insurance coverage through the pandemic.
Century 21 was shuttered for 2 years and reopened its flagship retailer downtown in 2022.
