Fortunoff Recruits Orlick as CEO

Carole Sloan, May 15, 2006

Westbury, N.Y. — Veteran retailer Arnold Orlick has been named ceo of Fortunoff, the home furnishings and fine jewelry specialty chain based here.

Orlick has an extensive background as a senior executive especially in the home furnishings area, as well as ceo and chairman of a major department store — the former Federated division Rich's/Lazarus/Goldsmith's, now part of Macy's. He will replace Joel Kier, chairman of the Kier Group and a director of Fortunoff, who became acting ceo last year. Kier Group and Trimaran Capital Partners acquired the majority interest in the company from the Fortunoff and Mayrock families in July 2005.

Fortunoff operates six full line home furnishings and fine jewelry stores as well as 11 Backyard stores, which feature outdoor furniture and kids furniture.

When the company opened its 185,000 sq.-ft. White Plains, N.Y. store in October 2003, Elliot Mayrock, one of the family principals, said it was expected to add more than $100 million to Fortunoff's $400-million-plus annual revenue. Of this, furniture was pegged at about 10% of the total. In home textiles, the percentage contribution was pegged at about 15%.

Orlick began his career at the former Abraham & Straus, Brooklyn, N.Y., noted for its executive training program. He rose to merchandise manager. He later joined Robinson's, Los Angeles as merchandise manager in textiles, then group manager for textiles and housewares, and later gmm for all home furnishings.

Orlick returned to New York to join Bloomingdale's as executive vp, gmm for home, cosmetics and restaurant operations. He later became the store's executive vp, director of stores. He left Bloomingdale's to join Rich's in 1997 as president, and later became chairman and ceo. He left Rich's in 2001.

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