Longtime luxury retailer Stanley Korshak is looking to the future and gaining new owners.
Mitchells of Westport, Connecticut and Huntington, New York have acquired the Dallas Store in a deal that has not yet been made clear to the terms. Owned since 2002, Crawford Brock remains in the store where it had the best year in sales.
“It’s a huge opportunity… we’re calm,” Brock said in an interview. “This is going to be explosive.”
The new owner, whose roots date back decades, has stores in California and other parts of the West Coast, and has a northeastern site. With Mitchells, Stanley Korshak has access to more purchasing power and upgrades to technology systems. There is a lot of overlap between the brands Stanley Korshak has.
Stanley Korshak, whose roots returned to Chicago more than a century ago, has been in Dallas since the 1980s. The 70-year-old Block said it was time to turn to the next chapter in the business.
“I felt like I was really thinking about this in the long-term drawing. What was my exit strategy? – this never got better,” Brock said.
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Brock, who left Neiman Marcus in Beverly Hills in the 1980s to the Stanley Corshak store in Dallas, bought it from Caroline Rose Hunt, an oil heir who later purchased the Stanley Corshak brand to open a Crescent store.
The site covers approximately 55,000 square feet and employs around 100 people.
“I’m going to run the store with the intention of staying as president,” Brock said. There will be nothing different about our relationship with staff.
The planned timing of the closure near downtown Dallas has also worked well for the future, Brock said.
“With these guys, we’re bigger than ever,” Brock said. “It’s a great marriage and it’s just like a couple.”
