WHAT'S GOING THERE
SHREWSBURY -- A large familiar wall of travel- and trial-sized items, a popular feature at old Harmon Face Value stores, greets you when you walk into the new Harmon at Shrewsbury Plaza on Route 35.
If it look likes the last time you were in a Harmon store, it's meant to. "The customer likes Harmon the way it was," said Jonah Raskas, chief executive officer of Harmon Retail Holdings.
Raskas has breathed new life into the Harmon brand, a popular health and beauty retailer that previously was part of home decor giant Bed Bath & Beyond. Its newest location in Shrewsbury, a spot formerly home to a Joann craft store, is holding its grand opening this weekend, starting Friday, Aug. 15.
In 2023, Raskas purchased Harmon's intellectual property, including its brands, trademarks and web sites, for $200,000 after Bed Bath & Beyond filed for bankruptcy protection, went out of business and closed its 50 Harmon stores.
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"I love that people came in here and felt happiness and felt love," Raskas said. "It's not just about shopping here. It's about people feeling like they can treat themselves or treating their family members or brought their family members. That to me is an emotional attachment that's beyond just a business."
Harmon closed as a result of Bed Bath & Beyond's woes, not its own missteps, Raskas said. Sales reached $177 million in 2021 and declined to an estimated $168 million as the parent company suffered, according to Harmon's financial synopsis.
"Nothing was broken," Raskas said. "There was no problem with what was going on. The problem was with the overarching Bed, Bath & Beyond company which owned Harmon."
Shrewsbury is the new Harmon's fourth reopened location, with others in West Caldwell, Bridgewater and New Rochelle, New York. Another is coming to Garwood. Previously, Harmon was located in the West Grove shopping center on Route 35 in Shrewsbury.
Harmon offers a large selection of brand name health and beauty products, as well as Harmon's own brand, at discount prices. "There's a lot more value across the entire store," Raskas said.
Now Raskas has started a crowd-sourcing campaign and is seeking investors to help expand Harmon further. The strategic plan aims to reopen an additional 15 stores across the New Jersey and New York region, reaching a total 20 stores, over two to four years before expanding to the tri-state region.
"We've offered up the opportunity for customers and others to join in on the reopening of Harmon stores," he said.
David P. Willis, an award-winning business writer, has covered business, retail, real estate and consumer news at the Asbury Park Press for 27 years. He writes APP.com's What's Going There column and can be reached at [email protected]. Please sign up for his weekly newsletter and join his What's Going There page on Facebook for updates.