Gump’s, which shut the doors of its iconic store in San Francisco in December after filing for bankruptcy, is getting a new lease on life. The 158-year-old luxury home décor brand is set to re-open its digital and physical businesses in the fall of 2019 under new leadership. The location of the new store has yet to be confirmed.
Gump’s is a luxury American home furnishings and home décor retailer, founded in 1861 in San Francisco. The store sold products ranging from jewelry made from jade, precious gemstones, and cultured freshwater pearls to products from luxury designers such as Hermès and Buccellati.
The new owners are the Chachas family. (John Chachas and his wife, Diane, were among a group of investors that bought Gump’s in 2007. The family became sole owners of the company after a bankruptcy court ruled on June 20 that they had the highest offer for what was left of Gump’s.)
According to the release, the Chachas’ three children —Anne, Christopher, and Jack Chachas — became the new owners of the majority interest of the company and will take leadership in its re-launch.
“We have been impressed by this brand for over a decade. Gump’s has a very special connection with its clients. We believe this iconic brand has a unique ability to curate an exceptional product that can once again delight clients for years to come.” – Anne Chachas, Executive VP