The 182-year-old jeweler has played an outsize role in American culture. Now it will be owned by the French fashion giant LVMH, sold for $16.2 billion.
The potential liquidation of the famed retailer could put a glut of discounted luxury merchandise on the market just as the holiday shopping season arrives.
She described her work as “romantic mathematics” and was happy that her designs could find a wider audience through her work with Anne Klein and Lane Bryant.
The landmark retailer, facing steep rent increases, is exploring filing for bankruptcy, along with renegotiating leases or taking on a strategic investor.