Bergdorf Goodman

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History

Founding and early history (1899–1951)

The company traces its origins to 1899 when Herman Bergdorf an immigrant from Alsace opened a tailor shop just above Union Square in downtown Manhattan.

Edwin Goodman a 23-year-old American Jewish merchant based in Lockport New York moved to New York City to work as an apprentice for Bergdorf. Within two years Goodman had raised enough money to purchase an interest in the business which was renamed Bergdorf Goodman in 1901. In 1906 Bergdorf Goodman moved to a new location on 32nd Street just west of Fifth Avenue and "Ladies' Mile". While Bergdorf preferred the less expensive side street location Goodman prevailed with the new location and bought Bergdorf's interest in the company. Bergdorf would retire to Paris.

Although Goodman had developed a good business as a ladies' tailor on 32nd Street he decided to move uptown in 1914. Goodman constructed a five-story building at 616 Fifth Avenue on the site of what is today Rockefeller Center. In 1914 Goodman became the first couturier to introduce ready-to-wear making Bergdorf Goodman a destination for American and French fashion.

The store moved to its present location at Fifth Avenue and 58th Street in 1928 building its Beaux-Arts style Bergdorf Goodman Building on the site of the Cornelius Vanderbilt II House. He was unsure of the success of the new store's location as he was uncertain whether customers would follow the store uptown. So Goodman designed the new store so that it could be subdivided into sections with storefronts that could be rented out if needed. Early tenants included Van Cleef & Arpels the Grande Maison de Blanc and Dobbs the Hatter. During the Great Depression however Goodman thrived buying the entire building. Throughout the 1930s Goodman purchased the mortgages of the surrounding businesses eventually acquiring the entire block. During this period Bergdorf Goodman was successful enough to have merited an expansion beyond the single store. However Goodman preferred to operate in a single location where he would be able to personally maintain the quality of the merchandise and service.


The second generation (1951–1972)

Goodman's son Andrew assumed the role of president in 1951 and succeeded as head of the company in 1953 following the death of his father. Andrew was responsible for enhancing Bergdorf's reputation and expanding its range of merchandise and services.

During Andrew's tenure as chairman Bergdorf opened a fur salon developed the successful Bergdorf Goodman Number Nine perfume ("Love Potion Number Nine") and created Miss Bergdorf a ready-to-wear line for younger customers.

The Bergdorf Goodman Building began a $1 million expansion in 1959 ($8.9 million today) into two adjacent buildings. The Boys and Girls gift shop expanded into a whole floor and the beauty salon and bridal fur and men's departments also expanded. Eight years later a $2.5 million expansion in 1967 ($19.4 million today) nearly doubled the store's area to 120 000 square feet (11 000 m2).


New ownership (1972–1990)

In 1972 Andrew Goodman sold Bergdorf Goodman to Broadway-Hale Stores which would become Carter Hawley Hale Stores (CHH) for $12.5 million ($77.3 million today). CHH had acquired Neiman Marcus a three-unit operation at the time in 1969. By the time of the sale Bergdorf Goodman was the only large high-quality specialty store in the U.S. that remained independently owned. However its decision not to build suburban branches left it with a relatively modest profit margin. Goodman remained the landlord of the store and kept a penthouse apartment on the building's top floor.

At first CHH considered building branch locations ultimately only constructing one location in nearby White Plains New York in 1972. This location eventually became a Neiman Marcus branch in 1981. To combat its image difficulties the company hired Dawn Mello in 1975 as vice president of fashion. She was successful in reinvigorating the conservative store and became president in 1984. She left her post in 1989 to work for the floundering Italian fashion house Gucci though she returned to her post as president in 1994.[citation needed]

Bergdorf Goodman's parent company became the object of takeover bids in the 1980s. As a way to maintain its independence Carter Hawley completed a major financial restructuring. In 1987 Bergdorf Goodman was spun-off together with Neiman Marcus and Contempo Casuals to form Neiman Marcus Group. The new company was headquartered in Dallas Texas where the significantly larger Neiman Marcus had been based for 80 years.[citation needed]


Reaching the centennial (1990–present)

Chairman and CEO Ira Neimark expanded the women's store three times in the 1990s. He moved the men's store across the street to the former FAO Schwarz space at 745 Fifth Avenue in 1990. This move allowed more space for women's fashions. In 1997 the former Goodman family apartment on the building's ninth floor became the John Barrett Salon and Susan Ciminelli Day Spa. In 1999 the Beauty Level opened directly below the main floor offering a luxury spa and Goodman's Café serving lunch and afternoon tea.

In 2002 the Bergdorf Goodman Building underwent a major restoration including a restoration of the main floor of the women's store. In 2003 the store introduced new boutiques for Chanel Giorgio Armani Gucci Versace and Yves Saint Laurent. The Bergdorf Goodman Men's store features exclusive brands such as Loro Piana Kiton Brunello Cucinelli John Lobb Thom Browne Bontoni Tom Ford and Charvet.

On May 2 2005 two private equity firms Texas Pacific Group and Warburg Pincus acquired the Neiman Marcus Group and its Bergdorf subsidiary in a leveraged buyout (LBO).

In media and popular culture

The store has been the subject of two documentary films: the 2001 film Dita and the Family Business exploring the store from the point of view of its owners and the 2013 feature documentary Scatter My Ashes at Bergdorf's which features many testimonials from designers and celebrities. Cary Grant sent Doris Day on a shopping spree at the store in the 1962 movie That Touch of Mink. The store has also made several appearances in the cartoon Neo Yokio. The protagonist Kaz Kaan and his rival Arcangelo both buy their suits from Bergdorf's. Most recently Bergdorf Goodman was featured in a scene of the film Ocean's 8 in which Sandra Bullock's character steals cosmetics from the store. In 2019 news journalist E. Jean Carroll alleged that Donald Trump had sexually assaulted her in a Bergdorf Goodman dressing room in the 1990s. The store was prominently featured in the film Arthur in 1981. The store was featured in the Miss Piggy/ Joan Rivers scene of The Muppets Take Manhattan. The store was also featured in Sex and the City as a favorite shopping location of central character Carrie Bradshaw. It was particularly featured in the Sex and the City 2 movie.

simple explanation

Bergdorf Goodman Inc.

The first Bergdorf Goodman Store (2019)
Type	Subsidiary
Industry	Retail
Genre	Department stores
Founded	1899; 122 years ago (1899) in New York City New York
Founder	Herman Bergdorf
Headquarters	754 Fifth Avenue New York City New York United States
Number of locations	2 (across Fifth Avenue)
Key people	Linda Fargo (women's fashion director) Bruce Pask (men's fashion director)
Products	Luxury ready-to-wear couture clothing footwear handbags accessories contemporary collections decorative home jewelry beauty products two restaurants
Parent	Broadway-Hale Stores (1972–1987) Neiman Marcus (since 1987)
Website	bergdorfgoodman.com

Bergdorf Goodman Inc. is a luxury department store based on Fifth Avenue in Midtown Manhattan New York City. The company was founded in 1899 by Herman Bergdorf and was later owned and managed by Edwin Goodman and later his son Andrew Goodman.

Today Bergdorf Goodman operates from two stores situated across the street from each other at Fifth Avenue between 57th Street and 58th Streets. The main store which opened at its current location in 1928 is located on the west side of Fifth Avenue. A separate men's store established in 1990 is located on the east side of Fifth Avenue directly across the street.

Bergdorf Goodman is a subsidiary of Neiman Marcus which is owned by the private equity firm Ares Management.

Neiman Marcus which owns Bergdorf Goodman has officially filed for Chapter 11 bankruptcy following the impact of the COVID-19 pandemic.