Grab your credit cards, Century 21 is making a comeback in New York!

Attention bargain shoppers – the former designer discount destination Century 21 is now restocking. Daily Women’s Clothing (WWD) reports that the department store closed by COVID plans to reopen its flagship FiDi location in 2023.

Century 21 returns to downtown. Photo: Phil O’Brien

Retail and hospitality business Legendsthe management company behind the merchandising of MLB’s Sixth Avenue flagship Yankee Stadium and One World Observatory will partner with Century 21 to create a stripped-down version of the original department store, with a focus on men’s, women’s and children’s clothing, outerwear, accessories, handbags, shoes, sunglasses and fragrances.

Raymond Gindi, co-CEO of Century 21, Told WWD: “It’s very exciting for us. It’s a family business, founded by our father, so it’s not just a business decision, it’s also an emotional one. We also owe it to our customers. Keeping Century 21 going is something we’ve been pushing towards since we closed.

Century 21 returns to downtown. Photo: Phil O’Brien

Founded in 1961 by Raymond’s father, Ali Gindi, and his cousins ​​Sonny and Ralph Gindi, Century 21 has grown from its original location in Bay Ridge, Brooklyn over the past 60 years into a mini designer empire. at reduced prices in New York and New Jersey. , Florida and Pennsylvania. Offering discounts ranging from 40-90% on brands like Chanel, Calvin Klein, Vera Wang, Ralph Lauren, Valentino and Prada, Century 21 brought in up to $700 million at its peak.

The store’s impact was also more than financial for many New Yorkers. Its Financial District store, adjacent to the World Trade Center, became a symbol of resilience in the aftermath of the September 11 attacks, when thousands of New Yorkers lined up to celebrate its reopening after extensive damage.

In March 2020, the Gindi went out of business and filed for bankruptcy in September 2020, citing a loss of $175 million in pandemic insurance which was not paid.

In 2020, CEO Raymond Gindi said: “While insurance money helped us rebuild after suffering the devastating impact of 9/11, we now have no viable alternative but to begin the closure of our beloved family business – because our insurers, to whom we have been paying large premiums every year to protect against unforeseen circumstances like the ones we face today, turned their backs on us at this most critical time.

Carrie Bradshaw (Sarah Jessica Parker) knows where to find a good score: Century 21 downtown – from the HBO series sex and the city. Video: Century 21 Facebook

With the help of a sponsor, the Gindi managed to buy back their intellectual property for $9 million. According to WWD, the company is now wholly owned by Raymond and IG Gindi, who are co-CEOs, and cousins ​​Eddie and Isaac Gindi.

Raymond Gindi told WWD that despite the reworked revival, Century 21 will remain “true to its DNA, synonymous with value and luxury. Customers want to know they are getting value and like to hear the numbers,” added Raymond: “It’s important to convey details about the value we provide. We will still provide the treasure hunt, but with less hassle. So it will be more treasure and less hunting.”

While it’s unclear whether other venues would follow, for now it seemed like New Yorkers were excited to hear of the institution’s return.

And like the Gindi family mentioned in a statement on the company’s website, “Century 21 Stores will continue to be a family business with a name synonymous with value and luxury. Never rely on a New Yorker.