Bonwit Teller
| Company type | Private (historically) |
|---|---|
| Industry | Retail (department store) |
| Founded | 1895 in New York City, United States |
| Founder | Paul Bonwit |
| Fate | Filed for bankruptcy in 2000; brand rights acquired by NBT Holdings in 2020 |
| Headquarters | New York City , United States |
Area served | United States |
Key people | Paul Bonwit (founder), Edmund D. Teller (partner), Hortense Odlum (president), Walter Hoving (owner), John L. Hanigan (Genesco CEO) |
| Products | Luxury women's fashion, upscale retail goods |
Number of employees | 125 (at Scarsdale branch opening in 1967) |
| Parent | Genesco (1956–1987), Allied Stores Corporation (1979–1987), Hooker Corporation (1987–1989), The Pyramid Company (post-1989) |
Bonwit Teller & Co. was a distinguished American luxury department store established by Paul Bonwit in 1895 in New York City, which eventually grew into a chain of high-end retail outlets. Two years later, in 1897, Edmund D. Teller joined the business partnership, prompting a relocation to 23rd Street. The company became known for specializing in upscale women's fashion, earning a reputation for superior product quality and offering buyers and executives salaries above industry norms.
After its incorporation in 1907, Bonwit Teller moved its operations to the intersection of Fifth Avenue and 38th Street. This positioned the store among an elite group of Fifth Avenue retailers catering to wealthy clientele, alongside rivals such as Lord & Taylor and Saks Fifth Avenue.
Distinctive features
The main store situated at Fifth Avenue and 56th Street originally belonged to Stewart & Company and opened in 1929 as a luxury shopping venue crafted by architects Whitney Warren and Charles Wetmore. Its exterior presented a stark limestone facade, which contrasted strikingly with an elaborate entrance embellished with materials like platinum, bronze, hammered aluminum, faience, and tinted glass—elements that critics described as a "sparkling jewel," embodying the store’s upscale identity.
While the interiors initially featured lavish murals and exotic woods, these were toned down after Bonwit Teller assumed control in 1930 under the guidance of architect Ely Jacques Kahn. The building underwent expansion with two additional floors added in 1938 and a twelve-story extension completed in 1939.
A hallmark of the building was the series of 15-foot limestone relief sculptures portraying nearly nude female figures that adorned the Fifth Avenue facade. When Donald Trump acquired the property in 1980 through Genesco’s CEO John L. Hanigan, he intended to demolish it to build Trump Tower. Although there were assurances that the reliefs would be donated to the Metropolitan Museum of Art, they were ultimately destroyed during demolition—a decision Trump defended by citing excessive removal costs and potential construction delays. This action provoked criticism from art authorities who regarded the sculptures as architecturally significant. The whereabouts of other decorative features such as the Art Deco nickel grillwork remain unknown.
Founding and early history (1880s–1946)
During the late 1880s, Paul Bonwit launched a modest millinery establishment within Manhattan’s Ladies’ Mile shopping district. The year 1895 is generally recognized as the company’s inception when Bonwit opened another shop on Sixth Avenue. Following the failure of his initial business, he formed a partnership with Edmund D. Teller in 1898 to establish a new store on 23rd Street. Incorporated as Bonwit Teller & Company in 1907, the firm relocated again in 1911 to Fifth Avenue and 38th Street.
By 1930, reflecting New York City’s retail migration uptown, Bonwit Teller shifted its flagship store to the former Stewart & Co. building at Fifth Avenue and 56th Street—originally designed by Warren and Wetmore and subsequently redesigned by Ely Jacques Kahn. This location served as the company’s primary base for nearly five decades.
To address financial requirements, Bonwit Teller allied with financier Floyd Odlum, whose Atlas Corporation acquired ownership of the company in 1934. Odlum’s wife, Hortense Odlum, became president in 1938, marking her as the first woman to lead a major U.S. department store, while Paul Bonwit’s son Walter held roles as vice president and general manager. Between 1939 and 1940, the company briefly owned Philadelphia radio station WHAT (AM).
Ownership transitions (1946–1979)
Bonwit Teller was eventually sold by Floyd and Hortense Odlum to Walter Hoving’s Hoving Corporation, which also managed Tiffany & Co., thereby reinforcing their retail footprint on Fifth Avenue.
Significantly, during the mid-20th century, prominent artists such as Jasper Johns, Robert Rauschenberg, and Andy Warhol contributed to Bonwit Teller’s groundbreaking window displays while working as visual merchandisers.
In 1956, the conglomerate Genesco, known for its portfolio of 64 apparel and retail businesses—including upscale names like Henri Bendel but primarily recognized for footwear—acquired Bonwit Teller. Under Genesco’s stewardship, Bonwit Teller bolstered its fashion prestige by collaborating with designers like Christian Dior, fueling growth and increased sales throughout the mid-1960s.
Timeline of branch openings
Bonwit Teller initiated its expansion in 1935 by launching a seasonal outlet in Palm Beach, followed by a permanent store in White Plains in 1941. The company further extended its reach with the opening of a Boston location in 1947 within the Back Bay district. By the 1960s, Bonwit Teller operated stores across New York City, Manhasset, White Plains, Boston, Chicago, Philadelphia, and Cleveland, alongside resort boutiques in Miami and Palm Beach.
Throughout the 1960s, additional growth included branches at Short Hills Mall and relocating the White Plains store closer to a Lord & Taylor in Scarsdale. By the mid-1980s, Bonwit Teller’s network encompassed locations such as Oak Brook (Illinois), Troy (Michigan), Palm Desert (California), Beverly Hills, Bal Harbour, Kansas City, Buffalo, and Columbia (South Carolina).
Between the mid-1970s and late 1980s, Bonwit Teller was a direct competitor to Saks Fifth Avenue, maintaining a notable presence in luxury fashion retail and playing a key role in launching Calvin Klein's career.
Stores in Westchester County
In 1964, Bonwit Teller maintained a two-and-a-half-story store in downtown White Plains with a lease extending through 1976. Developer Salvatore Pepe purchased both the property and lease to facilitate relocating the store to his Vernon Hills Shopping Center in Eastchester near Scarsdale. The White Plains location ceased operations on April 13, 1967; five days later, a new 43,000 square foot store opened in Scarsdale.
The Scarsdale branch was designed by Copeland, Novak & Israel and featured 36 distinct fashion departments along with a centerpiece Italian marble court measuring 7,900 square feet. This area showcased crystal chandeliers originally from New York’s Ambassador Hotel. Murals created by Richard Neas decorated prominent sections of the store. Eighty-five employees transferred from White Plains to Scarsdale, supplemented by forty new hires for the opening.
Expansion and subsequent developments (1979–2000)
In 1979, Allied Stores Corporation purchased Bonwit Teller with intentions to reconstruct its flagship Fifth Avenue location opposite the newly developed Trump Tower. The store reopened in April 1981 on 57th Street as the focal point of Trump Tower’s indoor shopping mall.
By 1987, Allied divested Bonwit Teller for $101 million to Australian company Hooker Corporation, which increased the number of stores from five to sixteen. Nevertheless, following Hooker’s Chapter 11 bankruptcy filing in 1989, Bonwit Teller was auctioned off. Hooker retained two stores under licensing agreements while The Pyramid Company acquired five stores along with the Bonwit Teller brand name. The Manhattan flagship closed thereafter; its space remained vacant until Galeries Lafayette opened there in 1991 but shuttered due to poor performance in 1994.
Under Pyramid’s management, a new location was launched at Syracuse’s Carousel Center. Despite efforts to revive the brand’s fortunes, Bonwit Teller filed for Chapter 11 bankruptcy again in March 2000; the Carousel Center outlet was the final store to close.
This era underscores considerable difficulties in sustaining market position and profitability amid multiple ownership changes, illustrating challenges faced by luxury retailers striving for enduring growth and competitive strength.
Since 2000
In 2005, the Chicago-based brand renewal agency River West Brands established Avenue Brands LLC with the goal of bringing Bonwit Teller back to the market.
By June 2008, there were announcements outlining intentions to reopen as many as twenty stores, beginning with flagship locations in New York and Los Angeles; nevertheless, the economic downturn prevented this expansion.
In March 2020, NBT Holdings, a subsidiary of Sugar23, obtained the rights to the Bonwit Teller brand, planning a store relaunch. Sugar23 backed this initiative by securing $30 million in funding and expanding its leadership team, demonstrating a committed effort toward brand revitalization and re-entry into the retail sector.