Luxury retailer Henri Bendel is closing. Here’s how that affects Miami.

Shoppers gather outside the Henri Bendel store on Fifth Avenue in Manhattan.Associated Press

Henri Bendel is closing – and yes, that means the stores in Miami, too.

The luxury retailer, which opened in Greenwich Village at the end of the 19th century, according to the Associated Press, will be closing its doors in January after 123 years. Its parent company L Brands Inc is hoping to focus on bigger brands that have more potential, the AP reports.

This means the stores at Dadeland Mall and Aventura Mall will be closing too, as well as the store in Town Center at Boca Raton.

Henri Bendel is best known for its designer purses and shoes.

Will there be closing sales? Seems like it could happen toward the end of the year, but who knows? Bag lovers, keep an eye out.

Last year L Brands Inc. reported revenue of $12.6 billion, according to CNN Money.