Parisian
Encyclopedia
Parisian was a U.S. chain of upscale department store
s headquartered in Birmingham
, Alabama
. The company was founded in Birmingham. Parisian had undergone a series of restructurings and mergers during its 130-year history, becoming a regional upper-market chain throughout much of the southeastern United States by the 1980s. Parisian competed mainly in the Southeastern market against Nordstrom
, Neiman Marcus
and Gus Mayer
. Belk bought the department store chain from Saks Incorporated
in a $285 million deal on September 30, 2006. In addition to closing a handful of the stores, Belk immediately resold five of the store locations in Michigan, Indiana and Ohio to Bon-Ton Stores although 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.
An official grand re-opening of the Parisian stores rebranded as Belk took place on September 12, 2007.
Proffitt's continued to make acquisitions, buying the Carson Pirie Scott chain of 52 stores in the Midwest in 1997 and Brody's in North Carolina in 1998. Proffitt's bought Saks Fifth Avenue
for $2.1 billion in 1998, which included 100 Saks stores and 40 discount Off 5th outlet stores, and changed its own name from Proffitt's, Inc. to Saks Incorporated
.
At its height, Saks Incorporated operated more than 250 medium to high-end department stores under its Saks Fifth Avenue Enterprises group, the Parisian division, the Northern Department Store Group (Younkers
, Herberger's
, Carson Pirie Scott
, Bergner's
, Boston Store
), and its Southern Department Store Group (Proffitt's
and McRae's
) — plus more than 50 Club Libby Lu
specialty shops.
, a privately held department store chain based in Charlotte, North Carolina
purchased the Proffitt's and McRae's stores from Saks on March 8, 2006, and immediately converted them to the Belk nameplate. On August 2, 2006, Belk announced the $285 million purchase of Parisian from Saks. That transaction included 38 Parisian department stores, a 125000 square feet (11,612.9 m²) administrative/headquarters facility in Birmingham, Alabama, and a 171000 square feet (15,886.4 m²) distribution center in Steele, Alabama
.
On February 2, 2007, the company further announced plans to change its share of Parisian stores over to the Belk nameplate by September 12, 2007. With the Parisian transaction complete, Belk operates 315 stores in 19 states.
During March 2007, elements of Parisian's operations such as its website were incorporated into those of Belk. Parisian's Steele distribution center closed by the end of the same month, eliminating 84 jobs. Another phase of transition involved conversion of private brand
s such as Parisian Signature and Parisian Bébe, beginning in June and continuing throughout the summer.
Signage and marketing for the Belk-owned store locations displayed the Belk name by September 1, 2007.
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.
Department store
A department store is a retail establishment which satisfies a wide range of the consumer's personal and residential durable goods product needs; and at the same time offering the consumer a choice of multiple merchandise lines, at variable price points, in all product categories...
s headquartered in Birmingham
Birmingham, Alabama
Birmingham is the largest city in Alabama. The city is the county seat of Jefferson County. According to the 2010 United States Census, Birmingham had a population of 212,237. The Birmingham-Hoover Metropolitan Area, in estimate by the U.S...
, Alabama
Alabama
Alabama is a state located in the southeastern region of the United States. It is bordered by Tennessee to the north, Georgia to the east, Florida and the Gulf of Mexico to the south, and Mississippi to the west. Alabama ranks 30th in total land area and ranks second in the size of its inland...
. The company was founded in Birmingham. Parisian had undergone a series of restructurings and mergers during its 130-year history, becoming a regional upper-market chain throughout much of the southeastern United States by the 1980s. Parisian competed mainly in the Southeastern market against Nordstrom
Nordstrom
Nordstrom, Inc. is an upscale department store chain in the United States, founded by John W. Nordstrom and Carl F. Wallin. Initially a shoe retailer, the company today also sells clothing, accessories, handbags, jewelry, cosmetics, fragrances, and in some locations, home furnishings...
, Neiman Marcus
Neiman Marcus
Neiman Marcus, formerly Neiman-Marcus, is a luxury specialty retail department store operated by the Neiman Marcus Group in the United States. The company is headquartered in the One Marcus Square building in Downtown Dallas, Texas, and competes with other department stores such as Saks Fifth...
and Gus Mayer
Gus Mayer
Gus Mayer is a Birmingham, Alabama based, family-owned, upscale specialty department store that caters to upper-end clientele and is known for its high-end fashions. The two-store chain is owned by the Pizitz Management Group...
. Belk bought the department store chain from Saks Incorporated
Saks Incorporated
Saks Incorporated , founded in Birmingham, Alabama in 1998, is headquartered in New York City, New York, and is a Fortune 1000 operator of high-end department stores in the United States under the nameplate Saks Fifth Avenue. Saks evolved from Proffitt's Inc. after Proffitt's changed its name in...
in a $285 million deal on September 30, 2006. In addition to closing a handful of the stores, Belk immediately resold five of the store locations in Michigan, Indiana and Ohio to Bon-Ton Stores although 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.
An official grand re-opening of the Parisian stores rebranded as Belk took place on September 12, 2007.
Acquisition by Proffitt's in 1996
In 1996, Proffitt's Inc. bought 38-store Parisian for $200 million and assumed Parisian's $250 million debt. Proffitt's, which had acquired Younkers and McRae's two years before, also acquired G.R. Herberger's in 1996. In 1997, Proffitt's included five brands: 19 Proffitt's stores, mostly in Tennessee; 29 McRae's stores in Alabama and Mississippi; 48 Younkers stores, mostly in Iowa and Wisconsin; 40 Parisian stores; and 39 Herberger's stores, concentrated in the Midwest.Proffitt's continued to make acquisitions, buying the Carson Pirie Scott chain of 52 stores in the Midwest in 1997 and Brody's in North Carolina in 1998. Proffitt's bought Saks Fifth Avenue
Saks Fifth Avenue
Saks Fifth Avenue is a luxury American specialty store owned and operated by Saks Fifth Avenue Enterprises , a subsidiary of Saks Incorporated. It competes in the high-end specialty store market in the Upper East Side of Manhattan, i.e. 'the 3 B's' Bergdorf, Barneys, Bloomingdale's and Lord & Taylor...
for $2.1 billion in 1998, which included 100 Saks stores and 40 discount Off 5th outlet stores, and changed its own name from Proffitt's, Inc. to Saks Incorporated
Saks Incorporated
Saks Incorporated , founded in Birmingham, Alabama in 1998, is headquartered in New York City, New York, and is a Fortune 1000 operator of high-end department stores in the United States under the nameplate Saks Fifth Avenue. Saks evolved from Proffitt's Inc. after Proffitt's changed its name in...
.
At its height, Saks Incorporated operated more than 250 medium to high-end department stores under its Saks Fifth Avenue Enterprises group, the Parisian division, the Northern Department Store Group (Younkers
Younkers
Younkers is an American department store chain founded as a family-run dry goods business in 1856 in Keokuk, Iowa. The retailer has since evolved over more than 150 years to include a presence in locations throughout Iowa and surrounding states in the Midwest region of the United States...
, Herberger's
Herberger's
Herberger's is a regional department store chain founded in 1927 in Osakis, Minnesota, United States. Herberger's operates 41 stores in nine states; more than one third of them are in Minnesota, where the chain maintained its headquarters for much of its history...
, Carson Pirie Scott
Carson Pirie Scott
Carson Pirie Scott & Co., known informally as Carson's, is an upscale chain of department stores that have been in business for over 150 years. Their product price points are targeted to the moderate-to-upscale shopper...
, Bergner's
Bergner's
Bergner's is a major department store in central and northern Illinois, established in 1889 in Peoria, Illinois, and offering mid-line to higher end merchandise in their largest stores. The current flagship store is located in Peoria at The Shoppes at Grande Prairie.-Beginnings:Bergner's was...
, Boston Store
Boston Store
-History:The Boston Store is mentioned in Theodore Dreiser's "Sister Carrie" published in 1900 and Carl Sandburg's Mamie, part of his 1916 Chicago Poems collection....
), and its Southern Department Store Group (Proffitt's
Proffitt's
Proffitt's was a department store chain based in Alcoa, Tennessee. On March 8, 2006, the Proffitt's and McRae's stores were converted into Belk stores. Belk acquired the two chains in July 2005 from Saks Incorporated.-Beginnings:...
and McRae's
McRae's
McRae's was a mid-range regional department store chain founded and based in Jackson, Mississippi, with locations in Mississippi, Alabama, Louisiana, and Florida. The nameplate was in existence for more than a century.-History:...
) — plus more than 50 Club Libby Lu
Club Libby Lu
Club Libby Lu was an experiential/experience-based retailer for preteen girls ages five through twelve. Founded by Mary Drolet, a former executive at Claire's and Montgomery Ward, in August 2000, the store chain operated 98 stores in 28 states in the United States before closing in early 2009.Club...
specialty shops.
Sale of Parisian to Belk in 2006 and conversion
Belk, Inc.Belk
Belk is a department store chain founded in 1888 in Monroe, North Carolina, today part of the Charlotte metropolitan area. After the founding of the first Belk store, the company grew in size and influence throughout the South via the chain in the USA, with its stores primarily located in the...
, a privately held department store chain based in Charlotte, North Carolina
Charlotte, North Carolina
Charlotte is the largest city in the U.S. state of North Carolina and the seat of Mecklenburg County. In 2010, Charlotte's population according to the US Census Bureau was 731,424, making it the 17th largest city in the United States based on population. The Charlotte metropolitan area had a 2009...
purchased the Proffitt's and McRae's stores from Saks on March 8, 2006, and immediately converted them to the Belk nameplate. On August 2, 2006, Belk announced the $285 million purchase of Parisian from Saks. That transaction included 38 Parisian department stores, a 125000 square feet (11,612.9 m²) administrative/headquarters facility in Birmingham, Alabama, and a 171000 square feet (15,886.4 m²) distribution center in Steele, Alabama
Steele, Alabama
Steele is a town in northeastern St. Clair County, Alabama, United States. At the 2000 census the population was 1,093. The town is a part of the Birmingham–Hoover–Cullman Combined Statistical Area.-Geography:Steele is located at ....
.
On February 2, 2007, the company further announced plans to change its share of Parisian stores over to the Belk nameplate by September 12, 2007. With the Parisian transaction complete, Belk operates 315 stores in 19 states.
During March 2007, elements of Parisian's operations such as its website were incorporated into those of Belk. Parisian's Steele distribution center closed by the end of the same month, eliminating 84 jobs. Another phase of transition involved conversion of private brand
Private brand
Private branding is when a large distribution channel member , buys from a manufacturer in bulk and puts its own name on the product. This strategy is, with some exceptions, generally only practical when the retailer does very high levels of volume...
s such as Parisian Signature and Parisian Bébe, beginning in June and continuing throughout the summer.
Signage and marketing for the Belk-owned store locations displayed the Belk name by September 1, 2007.
Sale of five Parisian store locations to Bon-Ton in 2006
On October 25, 2006 BelkBelk
Belk is a department store chain founded in 1888 in Monroe, North Carolina, today part of the Charlotte metropolitan area. After the founding of the first Belk store, the company grew in size and influence throughout the South via the chain in the USA, with its stores primarily located in the...
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:
- Livonia, Michigan - Laurel Park PlaceLaurel Park PlaceLaurel Park Place is an enclosed upscale shopping mall located in the city of Livonia, a suburb of Detroit, Michigan, United States. The mall, which is managed by CBL & Associates Properties, features over 70 restaurants and stores, with Parisian and Von Maur as anchor stores...
- 148800 sq ft (13,824 m²). - Rochester Hills, Michigan - The Village of Rochester HillsThe Village of Rochester HillsThe Village of Rochester Hills is an upscale retail lifestyle center located in Rochester Hills, Michigan, a suburb on the northern outskirts of Metro Detroit. Built in 2002, the center replaced a former enclosed shopping mall called Meadowbrook Village Mall...
- 120500 sq ft (11,194.8 m²). - Beavercreek, Ohio - The Mall at Fairfield CommonsThe Mall at Fairfield CommonsThe Mall at Fairfield Commons is a shopping center in Beavercreek, Ohio. The mall was opened in 1993 and has two floors featuring six anchor stores and a food court. Located adjacent to Interstate 675, it's near a golf course, Wright Patterson Air Force Base, Wright State University and Nutter...
- 130200 sq ft (12,096 m²). - now an Elder-BeermanElder-BeermanElder-Beerman is a U.S. chain of department stores founded in 1883 and owned by The Bon-Ton. The chain is based primarily in the United States' Midwest region...
. - Indianapolis, Indiana - Circle CentreCircle CentreCircle Centre is a large indoor shopping mall located in downtown Indianapolis. Plans for a downtown Indianapolis mall had been in development by the Simon Property Group since 1979. Circle Centre was opened to the public on September 8, 1995, adjoining Simon corporate headquarters, and...
- 144000 sq ft (13,378 m²). - former site of the L. S. Ayres flagship store - now a Carson Pirie ScottCarson Pirie ScottCarson Pirie Scott & Co., known informally as Carson's, is an upscale chain of department stores that have been in business for over 150 years. Their product price points are targeted to the moderate-to-upscale shopper...
. - Clinton Township, Michigan - The Mall at Partridge CreekThe Mall at Partridge CreekThe Mall at Partridge Creek is an open-air shopping mall in Clinton Township, a suburb of Detroit, Michigan, United States. Under construction since 2005, the mall opened to the public on October 18, 2007. The Mall at Partridge Creek has amenities unique to malls in Michigan, including: Bocce...
- 120000 sq ft (11,148.4 m²). (opened October 18, 2007; first new location under new ownership)
The sale closed on October 31, 2006.
Further reading
- , Merchandising "Saks Incorporated Annual Report (Parisian)". SEC Filing, April 10, 2006.
- ""The Look" Parisian Fall 2006 Catalog". Parisian., September 2006.