Jones the Grocer NY in doubt
Inside Retail PREMIUM understands John Manos has resigned as CEO of Jones the Grocer’s parent company, Senselle Food, and obtained the 11,000sft site at World Trade Center for himself. The new site to open in the US fall, 2015, would have been one of largest Jones the Grocer’s sites to date.
Internal sources have told Inside Retail PREMIUM Manos intends to independently open a gourmet grocery concept under a new name.
Westfield revealed the first tenants for its World Trade Center retail development this week, naming Italian food concept, Eataly, as the centre’s culinary anchor. Other food tenants include Épicerie Boulud, Lore Wine & Spirits, La Colombe, Beer Table, Noble Tree Coffee, FIKA, Nunu Chocolates, Joe Coffee and Minamoto Kitchoan.
It is understood Manos will remain a shareholder and on the board LVMH Group’s Singapore-based, L Capital Asia, which acquired a 50 per cent stake in the business in 2012.
At the time of the L Capital acquisition the private equity firm said the investment would assist with upmarket retailer’s international expansion.
Jones the Grocer was founded in 1996 has around 20 stores, four in Australia and around 15 across New Zealand, Qatar, Singapore, and United Arab Emirates.
Inside Retail PREMIUM contacted Senselle Foods but the company was yet to respond at the time of publishing.
Inside Retail Polls
One-off events deliver a bigger first-half profit for Beacon Lighting in FY20, but the specialty retailer warns tra… https://t.co/FV63K2lnqU16 hours ago