NEW YORK — Fortunoff has named Arnold Orlick, a veteran of Federated Department Stores, chief executive officer.
The announcement Wednesday confirms a WWD report in January that Orlick was in line for the job.
Fortunoff, considered one of the New York metro area’s leading retailers specializing in fine jewelry and home furnishings, was acquired by Trimaran Capital Partners and Kier Group in July 2005, in partnership with the founding Fortunoff and Mayrock families. The chain was run by the two families until Joel Kier, chairman of Kier Group and a director of Fortunoff, stepped in as acting ceo last fall.
“Arnie Orlick is a highly accomplished retail executive whose depth of management experience, strong leadership skills and exceptional merchandising acumen make him perfect for Fortunoff,” Kier said in a statement. “Arnie’s appointment will allow me to focus on our strategic store expansion, growing e-commerce and bridal platforms, and to further develop the Fortunoff brand.” Fortunoff has a wide reputation but only a handful of stores. The 84-year-old Fortunoff operates stores in Westbury and White Plains, N.Y.; Wayne, Paramus and Woodbridge, N.J., and on Fifth Avenue here. Fortunoff also operates 11 backyard/furniture stores.
Dean Kehler, managing partner of Trimaran Capital Partners, added, “Arnie has run one of the largest store groups in the country, and has previous experience both as a merchant and as head of store operations of a major retailer. Also, Arnie is a New Yorker. He has operated in the New York area and understands this exciting market.”
Orlick has been living in Atlanta since 1997, when he became president of Federated Department Stores’ former Rich’s/Lazarus/Goldsmith’s division, now called Macy’s. He rose to chairman and ceo there, but left in July 2001. Earlier, he was Bloomingdale’s executive vice president and director of stores, and before that, the chain’s executive vice president-general merchandise manager for home stores, cosmetics and restaurant operations, giving him the right experience for Fortunoff’s. He could not be reached for comment.
Trimaran and Kier Group are both New York private equity investment firms.