Wedding dress maker Priscilla of Boston, known for crafting Grace Kelly's wedding dress in 1965, will close its doors this year in an effort to expand parent company, David's Bridal.
Priscilla of Boston, a 65-year-old notable wedding dress company, will close its flagship store in Boston along with its 19 other locations at the end of December.
After nearly 65 years of serving some of America's most beautiful brides, we have made the difficult decision to close our salons after a thorough review of the business environment, the Priscilla of Boston Web site said.
David's Bridal made the announcement to shut the doors of Priscilla of Boston on Wednesday as part of an effort to expand David's Bridal.
At the end of the day, the decision is really based on looking at our resources and capital investments and looking to invest in Priscilla's sister division, David's Bridal,'' David's Bridal CEO Brian Beitler told Boston.com.
While it is not clear whether or not the closure is a result of a slumping economy, there has been a shift in trends for brides to purchase cheaper or discounted wedding dresses rather than splurging on an expensive one.
According to Brides.com, the average price spent by Americans for a wedding dress, including both non-designer and designer labels, is $1,075. The highest priced wedding gown at David's Bridal is a Vera Wang dress, with a $1,400 tag, in comparison to the most expensive at Priscilla of Boston priced at $10,000.
Formerly owned by Federated Department Stores Inc., Priscilla of Boston and David's Bridal were sold to Leonard Green & Partners in 2007.
Earlier this year, Leonard Green acquired a partnership with Vera Wang, selling its exclusive and unarguably iconic through David's Bridal at discount prices. Some attribute this newly formed partnership, along with other designers and couturiers who now sell versions of their dresses at discount prices to mass manufactured retailers, as the reason why Priscilla of Boston is closing.
Priscilla of Boston has made dresses for the famous with a portfolio including Grace Kelly and the daughters of both former President Johnson and former President Nixon, according to its Web site. The company was started by Priscilla Kidder in 1945 in Boston.