After 123 years in business, the iconic luxury boutique, Henri Bendel, is officially closing its doors.
The boutique will be shutting down all 23 of its brick-and-mortar stores as well as it’s e-commerce site.
The brand officially opened its doors back in 1895 but is closing come January 2019.
According to Business of Fashion, Henri Bendel is expected to rack in $85 million from 2018 alone.
But even with that said, Henri Bendel is to completely shut down due to the brand’s inability to stay amongst its peers.
L Brands Inc., who acquired the luxury brand in 1985, will instead focus on the company’s other brands which include Victoria’s Secret, Bath & Body Works, and Express.
“We are committed to improving performance in the business and increasing shareholder value. As part of that effort, we have decided to stop operating Bendel to improve company profitability and focus on our larger brands that have greater growth potential.”
Wexner also noted:
“This decision is right for the future growth of our company, but not easy because of the impact to our L Brands family. I want to thank our Bendel associates for their dedication to this iconic brand and to our loyal Bendel customers.”