Nan Duskin, the exclusive women's clothing store that has turned out Philadelphia society for more than 60 years, is up for sale.
Its chairman and owner, Richard L. Freundlich, said yesterday that he was weighing several offers for the chic shop in the Rittenhouse hotel on Rittenhouse Square.
Freundlich said he and his partner, Jack Adler Jr., had decided to sell Nan Duskin so they could concentrate on their other apparel companies.
"We're just going to spend some time with our other companies," Freundlich said. "That's what we do - we buy and sell companies. Duskin is just more visible."
However, some members of the city's fashion circles say Duskin has suffered by becoming so exclusive that it lost its ability to draw younger shoppers and less affluent impulse buyers, who might splurge on something just because they could buy it at Duskin.
Nan Duskin has been the city's premier women's clothing store, carrying such high-fashion labels as Armani and Yves Saint Laurent.
"I'm not surprised it is being sold; that's been rumored for a very long time. It's a shame because it is one of the few places left in Philadelphia at that level," said Dennise Askins, owner of Askins Models, which has supplied models for Duskin shows.
"Fashionwise, the city needs Nan Duskin if for no other reason than (as) a cornerstone," she said. "There is a lot of money in Philadelphia, and we deserve that kind of unique shop."
Sales at the store have remained steady at about $15 million a year, Freundlich said. "We're satisfied with sales, especially in this economy."
Freundlich and Adler also control Bridal Originals, a St. Louis maker of bridal wear, with $50 million in annual sales, and Pine Shirt Co., of Pottsville, with annual sales of about $20 million.
The local fashion community has been tittering about Nan Duskin's fate since Freundlich moved the store from its old quarters at 1727 Walnut St. to The Rittenhouse in 1989 and cut out apparel by moderately priced designers in favor of the more expensive Chanel, Armani and Donna Karan.
That came at the start of a back-to-basics movement in fashion and a severe recession. Nan Duskin tried to recoup by adding some young, lower-priced designers, with mixed results.
"It was probably one of the most exclusive wonderful places to shop. You had to have your best outfit on to walk in there just to get your hair done," said Askins.
