Dean & DeLuca
| Industry | Grocery store chain |
|---|---|
| Founded | September 1977 |
| Founder | Joel Dean, Giorgio DeLuca, Jack Ceglic |
| Fate | Filed for Chapter 11 bankruptcy in 2020; financial restructuring in 2021 |
| Headquarters | Wichita , United States |
Area served | United States, Japan, Thailand, Singapore, Middle East (Kuwait City, Doha, Dubai, Bahrain), South Korea, Turkey |
Key people | Eugenio Pozzolini (partner since 1981) |
| Products | Premium grocery products |
| Owner | Pace Development (since 2014), Siam Commercial Bank (26.49% stake since 2021) |
| Parent | Pace Development Corp. |
| Website | www |
Dean & DeLuca is a premium American grocery store chain that originated in New York City's SoHo neighborhood in September 1977, founded by Joel Dean, Giorgio DeLuca, and Jack Ceglic. In 1981, Eugenio Pozzolini became a partner. The company, now headquartered in Wichita, Kansas, was purchased in 2014 by Thai luxury property developer Pace Development.
History
The initial Dean & DeLuca location was launched by Giorgio DeLuca, who previously worked as a cheese vendor, alongside Joel Dean, a former publishing executive, at the intersection of Prince and Greene streets in SoHo. In 1988, the flagship store was established at Broadway and Prince Streets. This was followed by smaller venues situated within Manhattan’s Rockefeller Plaza and the Paramount Hotel. The brand also operated espresso bars located in New York City and Washington, DC.
International growth was achieved through licensing partnerships, beginning with the first overseas outlet opening in Tokyo in 2003 through Itochu Dean & Deluca Japan, which currently operates 50 stores. Further global expansion included new locations in Bangkok (2011), Singapore (2012), and several Middle Eastern cities such as Kuwait City, Doha, Dubai, and Bahrain under M.H. Alshaya Co. Additional licensing agreements were secured with companies including Pace Development Thailand, Shinsegae Korea, and Mekassa Turkey.
By 2018, Dean & DeLuca managed 37 stores worldwide but started shuttering numerous U.S. outlets in 2019, leaving only six domestic locations. The company ended its direct management of stores mid-2019; the remaining shops function as franchises that pay $1.5 million annually in royalties.
On April 1, 2020, Dean & DeLuca filed for Chapter 11 bankruptcy protection, reporting liabilities nearing $500 million against assets below $50 million. Its parent firm, Pace Development Corp., had defaulted on roughly $315 million in debt during 2019. The main bankruptcy filing took place in the Southern District of New York alongside six related entities.
Financial restructuring was finalized on January 28, 2021. As part of this process, Siam Commercial Bank acquired a 26.49% ownership stake through a debt-to-equity conversion. The company announced intentions to restart operations both within the United States and internationally.
External links
- Dean & DeLuca – Official website (archived June 13, 2017)
- Dean & DeLuca Japan (Japanese language)