Lillian Vernon (company) facts for kids
Lillian Vernon Corporation is an American company. It sells products for homes, kids, and fashion. You could buy their items from a catalog or their website. Lillian Vernon herself started the company in 1951. She began it from her apartment in Mount Vernon, New York. The company's name combines her first name and her hometown.
Company History
Lillian Menasche, who later became known as Lillian Vernon, started her business when she was 24. She began by placing ads in Seventeen magazine. These ads offered personalized purses and belts. Because these first products were so popular, her company, Vernon Specialties, grew. It focused on selling items for young women.
In 1956, the company launched the Lillian Vernon Catalog. This catalog became a very popular way for American women to shop. It was similar to the famous Sears catalog. Each month, a new catalog came out. It usually had 120 pages and showed about 750 different items. In the 1980s, more people started shopping from catalogs and at malls. So, Lillian Vernon made special catalogs for different groups. These included catalogs just for children and for people who managed their homes.
The Lillian Vernon Corporation was officially formed in 1965. In 1987, it became a public company. This means its shares could be bought and sold on the stock market. It was the first company started by a woman to be traded on the American Stock Exchange.
In the early 1990s, shopping online became very important. So, Lillian Vernon opened an online store on AOL in 1995. Soon after, they launched their own website and online catalog. However, by the late 1990s, the company found it hard to keep up with online changes. This was especially true after the "Dot-com bubble" burst. This was when many internet companies struggled.
Lillian Vernon's sons did not want to take over the company. So, in 2003, she sold it to a company called ZelnickMedia. She still kept a special title as a non-executive chairman. The company has changed owners a few times since then. In 2008, it went through a process called bankruptcy. This helps a company reorganize its money problems. In October 2015, a company called Regent bought Lillian Vernon.
Famous Beginnings
Did you know that some Hollywood stars started their careers as models for Lillian Vernon? These included actors like Jason Biggs, Monica Potter, and Marla Maples.
Awards and Good Deeds
Lillian Vernon received many awards for her work. She won the Project Sunshine Award for her great leadership in helping others. She also received the Award of Excellence from The International Center in New York. Lillian Vernon was also a board member for Citymeals-on-Wheels. This group helps deliver meals to people who cannot leave their homes.
