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OtherAug 10, 2016
Fortunoff brings back brick-and-mortar model
Half a century after it opened the doors to its Long Island flagship, Fortunoff Fine Jewelers is returning to the area with the launch of a Westbury store as it takes its business from the Internet to brick-and-mortar.
The store, for which a soft launch has already been held, will officially open Sept. 18.
The 1,900-square-foot location will offer more than 15 showcases of jewelry for women, children and men, offering pieces from new, local designers, styles from international designers and brands, and a selection of vintage jewelry. Prices vary extensively, according to the company, ranging from $50 to $50,000.
The reintroduction of a physical presence for Fortunoff Fine Jewelry is being led by Esther Fortunoff, who is the granddaughter of Max and Clara Fortunoff, founders of the original chain of stores. She started her 30-year career at Fortunoff as a teenager and now serves as the executive vice president of the company’s fine jewelry division.
Fortunoff told National Jeweler that the company is returning to brick-and-mortar jewelry retail after hearing feedback from the consumers that they wanted a place where they could physically try on the jewelry before purchasing.
“It’s really great to get to meet the clients face to face and see the smile on their face when they put on the jewelry,” Fortunoff said, noting that the response has already been strong. “Our customers were clamoring for us to come back to a store, saying that the e-commerce wasn’t good enough.”
She also added that while no other family members currently are involved with the fine jewelry retail store, 16 out of the 18 employees that currently are working there were former employees.
The Fortunoff brand was founded in 1922 as a Brooklyn housewares store which eventually grew to eight shops. In 1957, the family introduced watches and fine jewelry to the business, leading it to become a well-known jewelry retailer and open its store in Westbury, Long Island, in 1964. In 2001, the brand expanded to include the Fortunoff Backyard Store concept.
In 2005, however, the Fortunoff and Mayrock families sold their majority interest in the business to two private equity firms, which applied for Chapter 11 bankruptcy three years later and again sold to another private equity firm.
The Fortunoff family re-acquired the intellectual property of
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the company in 2009, launching Fortunoff Backyard Stores and Fortunoffjewelry.com just a year later. It has been focused on e-commerce sales for its jewelry division until now.
“It’s a very big step for me to go back to brick-and-mortar from e-commerce,” Fortunoff said. “We’re going to use this opportunity to learn what customers like and want, and to see what’s cutting-edge and new in the market.”
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