Henri Bendel, 123-year-old luxury retailer, closes the doors

The luxury retailer Henri Bendel, which opened its doors in New York's Greenwich Village at the end of the 19th century, is closing.

L Brands Inc., which acquired the brand in 1985, said that the 23 Bendel stores in 11 states will turn out the lights in January. The Columbus, Ohio, company said it wants to focus on larger brands with more growth potential.

The Henri Bendel e-commerce website will also be shuttered after the holiday season.

Henry Bendel was a women's hat maker from Lafayette, Louisiana. He moved to New York in 1895 and began catering to the city's elite, making the stores' brown and white striped shopping and bags and hat boxes a coveted status symbol. In the 1960s, its in-house illustrator was a young artist named Andy Warhol.

The company's flagship store on New York's 5th Avenue, steps away from Trump Tower, is a landmark in Manhattan.

L Brands says associates staying with the business through January will be offered retention bonuses. At the point when associates’ positions are eliminated, they will be invited to interview for open positions within the company or will be offered separation pay and job search support services.

With the Associated Press