Facing an enormous rent hike and an increasingly competitive retail landscape, Pearl River Mart’s husband-and-wife team Ming Yi Chen and Ching Yeh Chen were forced to close the doors to their iconic Asian emporium in March of this year. The couple regarded the closure as a bittersweet ending to a 45 year journey that began with a small shop in New York City’s Chinatown and concluded with a 30,000 square foot department store in the heart of SoHo. Although the Chens reached out to many interested parties and investors to continue Pearl River in some form, they were unable to find a suitable successor – until they spoke to their daughter-in-law.

Encouraged by the outpouring of support following the store’s closing and inspired by the opportunity to lead the brand into new territory, Joanne Kwong, a Columbia and Duke University-educated attorney and communications executive, felt the time was right for a major career change. As the new President of Pearl River, she has announced plans to open a temporary pop-up shop in mid-November at its new home at 395 Broadway before officially relaunching the store in May 2017 following renovations. The Chens will remain closely involved in the updated iteration of Pearl River as advisors.

Kwong’s vision for the new Pearl River includes modernizing its merchandise and customer experience, increasing its digital and social media presence, and forging strategic partnerships with major national and global brands. In addition to offering familiar favorites, the new 8,000 square foot location will debut capsule collections and collaborations with a variety of established and emerging Asian-American designers and artists and host a regular program of curated events, performances and exhibitions. Long term plans include opening additional stores in other U.S. cities and introducing new lines of Pearl River-branded merchandise.

“The goal is to evolve the store from a traditional brick and mortar to a leading-edge retail experience while also preserving and honoring Pearl River’s incredible legacy,” said Kwong, the former Counsel to the President and Vice President of Communications at Barnard College, Columbia University. “In this age of e-commerce, social media and experiential retail, it’s actually a great advantage to be an independent, authentic and nimble brand. My team and I are thinking big, local and digital.”

Founded in 1971 by Chinatown community activist Ming Yi Chen –then an overseas student who had just earned his doctorate in chemistry— Pearl River was originally conceived as a “friendship store” to introduce Chinese merchandise and culture to New Yorkers. At the time, diplomatic relations between the U.S. and China were virtually non-existent, compelling Chen to do his part in fostering cultural exchange between the two nations. Despite regular visits from the FBI to ensure he wasn’t a Communist spy, the store was an overnight success, prompting Chen to put his chemistry career on indefinite hold and devote the next four and a half decades of his life to his true passion.

“Pearl River has always had a higher purpose for me or else I would have retired a long time ago,” said Chen, 77. “Pearl River isn’t just a business – it’s an essential part of my personal vision as well as my life’s work. My wife and I are grateful and excited to have Joanne take over from here and guide Pearl River on a new journey that we hope will continue for many more generations to come.”