Parisian (Bon-Ton)

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This article is about the five Parisian department stores that were sold to Bon-Ton Stores by Belk. For the original Parisian department store holding company that was sold to Belk in 2006, see Parisian.
Parisian
Type Holding company
Founded 1877 (Birmingham, Alabama, USA)
Headquarters Rochester Hills, Michigan, USA
No. of locations 3
Area served Detroit, MI metropolitan area
Industry Retail
Products Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.
Parent Bon-Ton
Website Parisian official website (Bon-Ton Stores)

Parisian is a specialty department store chain in the Detroit, Michigan metropolitan area, currently operating in three suburban locations in Livonia, Rochester Hills, and Clinton Township. The trio of store locations, operated by Bon-Ton Stores, Inc., are a remnant of the larger Parisian chain, which was bought by Belk and converted in September 2007 to its nameplate.

Founded in Birmingham, Alabama, Parisian had undergone a series of restructurings and mergers during its 130-year history, becoming a regional chain throughout much of the southeastern United States by the 1980s. Belk bought the department store chain from Saks Incorporated in a $285 million deal on September 30, 2006 and immediately resold five of the store locations in Michigan, Indiana and Ohio to Bon-Ton Stores, Inc. Only the three in Michigan kept the Parisian name. Bon-Ton did not acquire the corporation side of Parisian and are not allowed to open any new stores or convert other stores to the Parisian nameplate, except for the rights to one under construction.

Contents

[edit] History

See: Parisian

[edit] Sale of Parisian store locations to Bon-Ton in 2006

On October 25, 2006 Belk announced the $22 million sale of four Parisian stores and rights for the construction of a fifth store to The Bon-Ton Stores, Inc. The store locations included:

The sale closed on October 31, 2006.[3] At that time, Bon-Ton operated 282 stores in 23 states under the Bon-Ton, Bergner's, Boston Store, Carson Pirie Scott, Elder-Beerman, Herberger's, Younkers and Parisian nameplates. [4]

The two Bon-Ton-owned Parisian stores in Michigan operating prior to October 2007 — Laurel Park Place in Livonia, and The Village of Rochester Hills in Rochester Hills — have continued the Parisian nameplate [5]. The Clinton Township store, which opened October 18, 2007, also operates as a Parisian location.[6] Unlike retailers such as Belk and Macy's, which have consolidated acquisitions into a unified brand, Bon-Ton has not announced plans to consolidate its brands into one or a handful of nameplates. Currently, the Rochester Hills store location serves as the corporate headquarters for the Parisian division.

[edit] Other uses in retail

Another Parisian department store chain is currently in development in Indonesia by Matahari, which is owned by Lippo Group. The first store opened at December 22, 2007 at Mal Taman Anggrek. Another store would open soon located at Mega Mall Pluit and City of Tommorow Surabaya[7]

[edit] References

  1. ^ Parisian in Downtown Indianapolis to Undergo Changes - Newsroom - Inside INdiana Business with Gerry Dick
  2. ^ Simon.com - Mall Directory
  3. ^ http://www.bonton.com/investor_relations/pr103106.asp
  4. ^ http://www.bonton.com/investor_relations/pr102506.asp
  5. ^ http://www.bonton.com/investor_relations/pr020807.asp
  6. ^ http://www.freep.com/apps/pbcs.dll/article?AID=/20070306/NEWS04/703060362/1006
  7. ^ Introducing - Parisian Department Store

[edit] Additional resources

  1. ^  , Merchandising "Saks Incorporated Annual Report (Parisian)". SEC Filing, 10 April 2006.
  2. ^  ""The Look" Parisian Fall 2006 Catalog". Parisian., September 2006.
  3. ^  , Merchandising "For new owner, Parisian is 'bon'". IndyStar.com, 26 October 2006.

[edit] External links

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The Bon-Ton
Stock Symbol: NASDAQ: BONT · Website: www.bonton.com