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Thursday, August 12, 2010

A Jewelry Comeback for Fortunoff?

Remember Fortunoff? The former New York region department store chain said it will produce fine jewelry to be sold online as early as the fall followed by brick-and-mortar retail outlets in 2011.

The principals behind this new effort are as follows:

Fortunoff Brands, LLC. The Fortunoff and Mayrock families, who owned and operated Fortunoff for four generations, purchased all of the intellectual property of Fortunoff—including the brand name and related trademarks, customer lists, domain names, and all copyrighted material.

Four Leaf Designs, LLC. A partnership between Esther Fortunoff and David Fortunoff, and Lester Friedlander and Shaun Apgar, the principals of Clover II, a jewelry wholesaler and the owners of Robert Lee Morris Inc.

Together they have reached an exclusive agreement with licensing rights to the Fortunoff brand for fine jewelry products in the United States and on the Internet. This new partnership said it will open an e-commerce site followed by stores in their traditional Tri-State market of New York, New Jersey and Connecticut.

The high end retailer liquidated its assets in 2009 after filing for Chapter 11, owing its vendors more than $6 million.

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