Lillian Vernon, whose kitchen-table notion to sell monogrammed handbags and belts spawned one of America's best-known mail-order catalog businesses, has died. She was 88.
She died Dec. 14 in New York City, according to her son Fred Hochberg, chairman and president of the U.S. Export-Import Bank.
Peddling such knickknacks and doodads as door knockers, welcome mats, personalized bookmarks, pewter place-card holders and crocheted Christmas ornaments, Vernon created a retail brand embraced by consumers, especially women.
Among her shoppers, according to her younger son, David Hochberg, were Nancy Reagan, Betty White, Arnold Schwarzenegger, Gregory Peck and Hillary Clinton, who once said that as first lady of Arkansas during the 1980s, she would peruse the catalog hoping "that if I just ordered one more thing, my life would finally be in order."
The company went public in 1987 and five years later reported $260 million in sales, an all-time high. In 2003, ZelnickMedia, backed by private-equity firm Ripplewood Holdings, bought the business for $60.5 million.
Vernon, who along with son David owned 40 percent of the firm, received about $24 million. She became nonexecutive chairwoman.
"I've sold my name, but I am still the face and heart and soul of the business," she said in 2004 in the New York Times.
The retailer went through further ownership changes and a bankruptcy filing in 2008. That year, the company was acquired by Current-USA Inc., a division of Taylor Corp., based in North Mankato, Minn. (CEO Glen Taylor is owner of the Star Tribune.) Now named Current Media Group, the catalog company was acquired Oct. 1 by Regent Equity Partners.