The closure of Henri Bendel by L Brands Inc, its parent, brings an end to a company which opened its first store in New York’s Greenwich Village in 1895.

The owner of Victoria’s Secret – L Brands Inc – stated it would be shuttering all of its 23 Henri Bendel stores and its Henri Bendel e-commerce website in January 2019.

The closures comes in the wake of the company slashing its 12 months earnings forecast in August, citing lower demand for its PINK line of lingerie midst increased competition from its peers which include American Eagle Outfitter’s Aerie.

L Brands expect Henri Bendel, to bring in revenues to the tune of $85 million for 2018. Henri Bendel sells luxury fashion accessories, women’s handbags, and jewelry.

L Brands did not provide details of costs for closing the business.

The stores and the Henri Bendel website will remain operational upto January 31, 2019.

L Brands acquired Heri Bendel in 1985. Incidentally, Heri Bendel opened its first store in New York’s Greenwich Village in 1895.

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Tags: Aerie, American Eagle Outfitter, brick-and-mortar, e-commerce, earnings forecast, fashion accessories, Henri Bendel, jewelry, L Brands, lingerie, luxury, PINK, stores, website, women’s, women’s handbags