Fortunoff Back On The Block
January 21, 2009
Don't look for a Fortunoff jewelry department to appear in a Lord & Taylor near you anytime soon.
Parent company NRDC had originally planned to combine the synergies of its two assets in just such a manner, but today, WWD reports that the Long Island based chain is up for sale. NRDC, like many diversified companies, is paring away extraneous investment to focus on core brands, a category that Fortunoff, unfortunately, did not quite qualify for.
Reportedly, Lord & Taylor is negotiating with the current opertor of its leased jewelry departments to extend the agreement, leaving Fortunoff with diminished opportunity for expansion.
NRDC in Talks to Sell Fortunoff (WWD)