So who is taking Finlay’s place in the department stores where it will soon no longer operate? There seems to be a lot of uncertainty on that point.
Macy’s PR rep told me it plans to handle the jewelry business internally, which some Macy’s stores are doing already.
Bon-Ton Department Stores didn’t return my calls, but they were quoted as saying “they are exploring different options” – including not carrying jewelry at all. I also haven’t heard back from Dillards.
Lord and Taylor is probably the most interesting case. NRDC, its owner, had wanted Fortunoff-branded counters in its stores, but that, of course, is no longer an option. Still, it’s unlikely to give up jewelry; as this article from last week notes:
Lord & Taylor’s fine jewelry business accounts for somewhere between 3% and 5% of its $1.3 billion in overall sales. That may not sound like much, but in today’s penny-pinching economy, every bit of business matters.
True. However, there are a lot of hard feelings among the vendor community toward NRDC, as one vendor expresses here. (Which is a shame, since NRDC went into the Fortunoff purchase with a good reputation.)
NRDC’s spokeswoman tells me they are “exploring options” and “talking to people.” There are some former Finlay employees discussing the question on this thread; one notes he first worked for Finlay, then for Fortunoff, and now it’s back to Lord and Taylor. That translates to “three companies in six weeks.” And that might not be the end of it.
On a related subject, I’m curious about this story, which suggests Finlay could leave New York …