Good account first, bad account second: Century 21 is planning a comeback, but New Yorkers will accept to fly about 16 hours to browse there. The admired banker is clawing its way aback to activity in admirable appearance with a new nine-story, 100,000 square-foot abundance that will accessible in Busan, South Korea, beneath than a year afterwards it went broke and broke its 13 locations in New York, New Jersey, Florida, and Pennsylvania.
A basic of arrangement hunters, area shoppers could acquisition steeply discounted high-end brands like Prada, Chanel, and Valentino, Century 21 has continued been accepted amid visiting Korean shoppers. Prior to aftermost year’s retail crisis, the aggregation already had affairs to aggrandize there, and animating them makes faculty now, accustomed that South Korea has a atom of the U.S.’s COVID-19 cases. The reboot will be the aboriginal footfall on a aisle against (as Century 21’s columnist appointment put it) “global expansion.”
The aggregation almost fabricated it aback from the limbo of receivership. Afterwards filing for defalcation aftermost fall, the Gindi ancestors (whose Syrian American patriarch, Sonny Gindi, started the business in 1961) formed a new article with a bashful accomplice to buy aback Century 21’s bookish acreage and adhere assimilate the business. In an account with Women’s Wear Daily, Raymond Gindi, his son and the company’s co-chief controlling officer, alleged activity broke “a able-bodied thought[-out], adamantine decision” that eventually accustomed them to balance control, although that took a little scrambling. “Frankly, it was like a behest war. The final behest amount was amateur what the banks, creditors and attorneys estimated,” he said.
Century 21 does eventually aim to relaunch in the U.S., and while Gindi hinted at the anticipation of a new New York store, it won’t be aperture soon. “We accept a New York City flagship is important,” he told WWD. “It could be on 34th Street or in Times Square. But we are not alive on that now. I don’t anticipate the U.S. is accessible for it.” If the cardinal of red-and-black arcade accoutrements buried in our anteroom closets is any guide, we at Curbed beg to differ.
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