Will Century 21’s Second Act Be More Successful Than Its First?

Century 21 drew lines around the block, extensive media coverage and a visit from New York City’s mayor to last week’s reopening of its storied flagship on Cortlandt Street in the Financial District.

“This is a Welcome Back Kotter moment – welcome back, welcome back, welcome back,” said Mayor Eric Adams before the store opened last Tuesday. “It was a main anchor for our tourists.”

The discount department chain filed for bankruptcy in 2020 after the pandemic decimated its traffic, closing all 13 of its stores. The Gindi family, who founded Century 21 in 1961, bought back the intellectual property and began plotting a comeback.

The flagship, a mecca in the past for tourists and locals hunting down designer bargains, is the only store that has reopened, but more stores and a website are planned.

The signature red shopping bags have returned, but the name has changed to Century 21 NYC to capitalize on its hometown roots. The flagship has shrunk to four floors covering 100,000 square feet from seven covering 250,000 square feet with a narrower focus on fashion.

Century 21, billed as the “original off-price destination,” has faced heightened competition in recent decades from T.J. Maxx, Marshalls and Nordstrom Rack in Manhattan. It continues to count on its focus on European and contemporary fashion brands as a differentiator.

“We really do have a breadth of assortment that is unmatched from any other off-price retailer,” said Eddie Gindi, co-CEO, at a media event, as reported by CoStar News. “We know where to go, we know how to get the best deals, we know all the top designers.”

“Brands want to be in our store,” Judy Duzich, VP and general merchandising manager, told Glossy. “They love that we’re in New York, and they love that we have a tourist customer.”

Century 21 hopes to ride the local recovery as New York City hit 85 percent of its pre-Covid tourism volume last year.

Denise Danny, 58, from Staten Island, told The New York Times at the grand opening, “If it’s this crowded on the first day of the grand opening, you know the people missed Century 21.”