February 14, 2006
Old photos of Old Orchard Shopping Center
Want to see how Old Orchard looked in the 1950s (pre-Westfield)? Thanks to a blog called Malls of America (catchy title), you can see retro photographs of various shopping centers from around the country.
The author has published two entries on Old Orchard. The first features a historical shot of Marshall Field's (soon to be Macy's -- blah). The second image depicts what I believe is now the intersection of The Park and The Garden looking north. The historical shot features a lot more trees!
Posted by Tannerman at 04:01 PM
July 08, 2005
History: Venture Stores
We've previously discussed both the future of the Marshall Field's name in Chicago, as well as its presence at Old Orchard. When the merger of The May Company with Federated Department Stores is finalized, many feel that Marshall Field's will be renamed as Macy's. What's ironic in all this is that the very company that sold out to Federated, The May Company, actually may have put the nail in Marshall Field's coffin way back in 1970. Well, at least indirectly via a division called Venture Stores.
You see, back in the 1960's, the big department stores were looking at launching divisions that targeted the discount store market. They figured why not try to target all these different demographics and reap the profits of everyone. Thus, in 1962, Dayton (which today after many acquisitions and name changes is known as the Target Corporation) launched Target. In response, and to hop on this trend, the May Company launched Venture in 1970 as a "family value retailer." Stores were primarily located in the Midwest.
Growing up in Chicago, of course I remember Venture. Their buildings were shaped much like a Kmart, with a distinctive black/white stripped design over the entryway. There was actually a Venture within walking distance of my boyhood home, so I spent a lot of time there before learning how to drive and shop elsewhere.
As the retail story continues, The May Company purchased Associated Dry Good (ADG), owner of Caldor. Both Venture and Caldor operated as discount chains that featured style, which made sense given their department store heritage. Eventually, The May Company spun off Venture and Caldor in 1990. Unfortunately, having to compete with Wal-mart, Kmart, and Target, both chain's sales decreased quickly.
By 1996, Venture tried to relaunch itself as a value-oriented store, in addition to creating a Venture Dollar chain. However, that didn't help. The next year, Venture sold off many of its stores to Kmart (including the one I grew up with). Finally, in 1998, Venture filed for bankruptcy. Kmart purchased more stores from Venture and that was pretty much the end of the chain.
The ironic part of all this is that The May Company currently owns Marshall Field's. Field's was once part of Target, which was a big competitor to Venture, created by May. Thus, May's failed attempt to make Venture work allowed Target to grow and eventually mishandle the Marshall Field's brand, dumping it on May. In turn, now May is merging with Federated in what may be the final death blow to Field's.
The retail world sure is crazy sometimes!
Posted by Tannerman at 02:16 PM
April 26, 2005
Self-serve cosmetics: Sephora in Spring 2005
A lot of you may be wondering why all the recent store openings at Old Orchard? Is the mall not doing well or something? Actually, that's not the case all. It helps to know a little history. Mainly, that Old Orchard underwent a massive renovation in 1995. My dad actually worked as a carpenter on a few projects at Marshall Field's during this time of rehab. Anyway, it's 2005 now and many of those 10-year leases are expiring, thus the influx of new stores.
And it looks like a Sephora is being added. Being a guy, I'm like, "who cares?" But, for those interested, you may be curious in regards to a more official description of the retail chain: Shopping for cosmetics at Sephora is meant to be a hands-on sensual experience. Sephora's self-service approach to buying makeup arrived from France in 1998 with the opening of the first Sephora USA stores in New York and Miami. Now with about 95 stores nationwide, Sephora stocks more than 250 brands of prestige products, including its own collections of cosmetics, skin care, and bath and body products, all of which customers are encouraged to sample.
Sephora also sells via catalog and online at Sephora.com. Sephora is one of the largest fragrance and cosmetics retailers in Europe. Formed in 1993 by founder Dominique Mandonnaud, Sephora was acquired by LVMH, the world's leading luxury products group, in 1997.
Posted by Tannerman at 09:08 PM