For six decades, New Yorkers have hunted for bargains from famous designers at the various Century 21 stores scattered throughout the city. The discount retailer has established itself as part of the culture and fashion scene of the city. Even after September 11 – the largest of its branches was just a few blocks from the Twin Towers – the store remained solid and full of tourists.
But when in-store shopping ceased as the city became an epicenter of the Covid-19 pandemic in 2020, the retailer took a major hit. It lost a lot of money, a problem that was exacerbated, according to the company, by not receiving $175 million in insurance payments. That year, it filed for bankruptcy and closed all its stores.
After the bankruptcy, the Gindi family – who founded and operates Century 21 – managed to recover the business from investors. The following year, the company announced plans for a comeback that included reopening its largest store in New York City (as well as a location in South Korea).
Century 21 reopened on Tuesday (16), on Cortlandt Street in Downtown Manhattan, thanks to a partnership between the Gindis and the entertainment operations company Legends.
The store is smaller than it was before (four floors instead of six) and has a more focused approach to fashion. Everything in the store is discounted, including beauty products, which it previously did not have. Now the owners are also paying more attention to trends and the younger audience.
On the women’s floor, you can find pieces from Stella McCartney, Moschino, Victoria Beckham, and Versace, while the men’s section features Calvin Klein, Dior, Off-White, and Balenciaga. In footwear, Bottega Veneta heels sit alongside chunky platforms from Larroude. Vintage Chanel flap bags and a variety of Louis Vuitton bags are also available.
Retail in 2023 is facing a complicated landscape with high inflation, but discount stores are notoriously recession-proof.
Source: Fashionista.com