Woolworth

"Nicolas Berggruen's flair for profitable business is evident in the brand relaunch of the Foster Grant sunglasses brand. The company founder Sam Foster started in 1919 with hair accessories for women. The assortment included clips, combs, hoops, and barrettes. Sunglasses were the logical next step. The department store giant Woolworth distributed them in all branches, but they became a mass success mainly through beach sellers – from Atlantic City to Miami to Santa Monica, the trendy glasses were suddenly a hit. In the crazy 1960s, they were worn by Peter Sellers, Claudia Cardinale, Elke Sommer, Anita Ekberg, and Anthony Quinn. Audrey Hepburn was also photographed for the movie poster of Breakfast at Tiffany's with a Foster Grant."

"reviving a run-down department store not only requires skill and dexterity but also luck in a multiplied form. Anyone who dares to take on such a company must know the upcoming trends and the buying behavior of customers. No American department store chain has been able to gain a permanent foothold in Germany. Woolworth had to close its doors, America's leading supermarket giant Walmart has failed in this country, and the English fashion chain Marks & Spencer was also unable to prevail. In contrast, there is again the global success of brands like Foster Grant, Schweppes, or Burger King. Buying these is part of the success strategy of the Berggruen-Franklin duo."