Word: genesco
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
DIED. W. Maxey Jarman, 76, former chairman and chief executive of Genesco, who by 1969 had expanded his father's shoe business into the world's largest apparel conglomerate; after a long illness; in Nashville...
...sales of $3 million. W. Maxey Jarman, then chairman of Ge-nesco, Inc., a Nashville-based apparel conglomerate, snapped up the indebted store and turned it over to an unlikely boss: Geraldine Stutz, a onetime model and shoe editor at Glamour, who had successfully run the advertising for Genesco's I. Miller shoe stores. After reluctantly deciding to accept the job, Stutz swept through Bendel like a fall hurricane tearing through the Caribbean. Says a former employee: "It was 24 hours a day, and she has a temper...
Three years ago, Genesco's new chairman, John Hanigan, began shifting company strategy away from women's fashion and back to shoes and men's wear. Recalls Stutz's friend and Vogue Consulting Editor Diana Vreeland: "Gerry had her eye on buying the store for years." When she saw the conglomerate's new policy, Stutz asked Hanigan if he would give her first refusal on Bendel. After some scurrying to find an international group of Swiss-based financiers, Stutz was able to beat the best offer that Genesco had received...
After Custin left in 1970 to form her own consulting firm, the store floundered. Over the next eight years Bonwit's owner, Genesco, the Nashville shoe manufacturer, brought in five different managers who came and went. After earning a $5 million profit in 1970, the Bonwit chain ran up a series of losses-$4 million last year on revenues of more than $110 million. The revolving-door management made store executives fearful of innovation, and Bonwit's identity as a fashion authority gradually faded. Says a security analyst: "The times changed, and Bonwit's didn...
Last week Genesco Chairman John Hanigan, 67, announced the sale of Bonwit's twelve-story Manhattan building and real estate leases to Developer Donald Trump for $10 million. Allied Stores, a large retail chain, is negotiating to buy Bonwit's twelve branches across the country, which it would operate under the Bonwit Teller name. But at Fifth Avenue and 57th Street, where Bonwit's was rouged cheek by powdered jowl with Tiffany and Bergdorf Goodman, there will probably be some sort of highrise...