Century 21 Reopens Downtown With Discounted Chanel, Versace and More

For six decades, New Yorkers hunted for designer bargains at the various Century 21's across the city. The discount retailer cemented itself as part of the city's culture and fashion scene. (Telfar Clemens even threw a party there once.) It didn't even move after 9/11, despite its location being blocks away from the Twin Towers. (Instead, it re-opened out of the rubble.)

But when shopping in-store came to a halt and New York City became an epicenter of the Covid-19 pandemic in 2020, the retailer took a big hit. It lost a lot of money, an issue that was exacerbated, the company claimed, by not receiving $175 million in insurance payments. That year, it filed for bankruptcy and closed all of its stores.

After the bankruptcy, the Gindi family — which founded, owns and operates Century 21 — bought back the intellectually property from investors for $9 million. The following year, the company announced plans for a comeback that included re-opening in New York City (plus a location in South Korea).

Century 21 made its comeback on Tuesday thanks to a partnership between the Gindis and the entertainment operations company Legends. It returned to its flagship on Cortlandt Street with a brick-and-mortar-only concept and slightly new name: Century 21 NYC.

"We had a vision this time, a little bit different from the past," General Merchandise VP Judy Duzich says. "We had the moment where we could do a relaunch and we could restart — we thought about who we were, what we became and how big we became, and we thought about what we wanted to come back as."

The store is smaller than it was previously (four floors instead of six), and has a more narrow focus on fashion. Nothing in-store is full-price (that includes beauty, which, in Century 21's past life, wasn't discounted), and according to Duzich, the product assortment is more curated, paying more attention to trends and younger audiences.

On the women's floor, you'll find pieces from Stella McCartney, Moschino, Victoria Beckham and Versace, while the men's section has Calvin Klein, Dior, Off-White and Balenciaga. In footwear, Bottega Veneta heels sit next to chunky platforms by Larroude. Vintage Chanel flap bags and an assortment of Louis Vuitton monogram handbags are peppered in their own section behind glass near entrances.

"We wanted you to come in and see things you may not see in other discounters," Duzich says.

Gen Z is a big focus of this new Century 21. "We really didn't have that in the past," Duzich says. "We wanted to. We tried to get there, but if you don't have that [young] customer, it's almost too hard."

There's an emphasis on "young contemporary" and a mix of well-known brands and emerging ones. Despite the designer-heavy roster, some categories that were previously carried in-store are no longer carried at all — at least for now: Home has been reduced to gift items like candles; beauty is also consolidated, with an emphasis on fragrance and small tools.

Retail in 2023 is a tricky landscape, but off-price is famously recession-proof. When it comes to fashion, lots of shopping, at all price points, has moved online — but Century 21 NYC believes the in-person connection of brick-and-mortar is its big selling point.

"New York was hit so hard after the pandemic. I think people are really excited to have us back, to have retail opening and to have a beloved brand," Marketing VP Teresa Rodriguez says. "Everyone likes online shopping, but I think this is that place where you knew you were gonna find something different."

"We're an experience. We're something to do in a good way," Duzich says, thinking about shopping amid the recessionary environment. "Although the recession is there, and we know that, I think it's going to be for New York City a great adventure."

"Everybody has a Century 21 story," son of the founders and co-owner Eddie Gindi said at the press conference before getting emotional. "We built a brand that's bigger than us."

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