Fortunoffs Buy All Intellectual Rights to Namesake Brand

Following the bankruptcy and liquidation of the Fortunoff stores, the intellectual property of Fortunoff including the brand name and related trademarks, customer lists, software, domain names, and all copyrighted material were sold to decedents of the original owners, the Fortunoff and Mayrock families.

“When the family sold the Fortunoff company in 2005 we fully expected the brand to continue far into the future. No one could envision that it would stumble, be sold and then close during the height of a stinging recession," explained David Fortunoff. "We never imagined the Fortunoff brand name going into free fall when it has served as a retail icon for as long as anyone can remember. It has been a chilling series of events and we decided to redeem the Fortunoff brand.”

As previously reported by IDEX Online, Fortunoff Holdings, LLC filled for Chapter 11 bankruptcy protection in February. According to court filings, it owed the industry over $6 million.

The fallen jewelry and housewares retailer listed in its February 5 filing 1,000-5,000 creditors, assets of $100 - $500 million, and liabilities of $100 - $500 million. An affiliate company included in the filing was Fortunoff Card Company, LLC.

Their decision to purchase the brand name is part of what Fortunoff describes as, “the start of a thoughtful strategy that honors past excellence and consumer loyalty with future retail opportunities.”

Prior to the 2005 sale, Fortunoff was owned and managed by the family for over four generations.