With a pared-down flagship, a new logo and a family owner with a will to persist, Century 21, the off-price institution, is back in business.
It is the second reopening of the Century 21 flagship — the site was destroyed during the terrorist attack on the World Trade Center on Sept. 11, 2001, but rebuilt.IG Gindi, who serves as co-chief executive officer of the off-price retailer, along with his brother Raymond. “It’s very emotional. My dad Al and my uncle Sonny started this business 62 years ago. So this is about rebuilding [and] keeping their legacy going.”City is resilient, Century 21 is a resilient company.
“It’s more curated, elevated, and relevant. There’s more fashion, more luxury, more trend,” said Gindi.She said that over half of the vendors previously carried didn’t make it back on the selling floors. As a result, the overall aura of the assortment is that it’s trendier, younger, and weighted towards designer, young contemporary, fast fashion and streetwear. “We really want to bring in a younger customer,” said Duzich. “It’s not juniors.
The store also sells a healthy assortment of contemporary and premium jeans, as well as childrenswear, outerwear, luggage, basics, footwear, fragrances and some beauty.There’s also a tailor on site, and central checkouts on each floor, self-checkouts and larger, brighter fitting rooms for greater convenience. Next door to Century 21, the retailer is in a joint venture for an immersive, digital museum with Cayre Family, seen opening sometime next fall.
Asked about that, Gindi said, “Our timing on the opening is great. Essentially, there’s been a huge change in foot traffic,” said Gindi, adding that a year ago would have been a different story. , together with a silent partner who is no longer part of the business. The company is now entirely owned by co-CEOs as well as their two cousins, Eddie and Isaac Gindi.Asked if the bankruptcy could have been blamed in part on overexpansion, Gindi replied, “The stores we had were good. But our future is not in the suburbs anymore. We have decided our growth will be more metro. That’s where Legends comes in,” theoperator helping the Gindi’s run the Century 21 flagship.
While Gindi wouldn’t reveal a projected volume for the flagship, he expects productivity will be higher than in the past due the higher AUR on items in the assortment. There will be merchandise deliveries on a weekly basis.
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