MajorsJan 21, 2021
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Lord & Taylor Is Reborn, Online
Its new parent company relaunched the 195-year-old retailer as an online-only player.
A screenshot of the newly relaunched Lord & Taylor, now a digital-only retailer
New York—Storied retailer Lord & Taylor is back—digitally.
Consumer goods company and parent owner The Saadia Group announced the relaunch of Lord & Taylor as an e-commerce platform.
The retailer filed for bankruptcy in August, struggling for a while to compete in the changing retail environment and hit hard by the COVID-19 pandemic. It said at the time it was looking for a new owner.
In September, it closed the remainder of its doors.
The Saadia Group purchased Lord & Taylor’s assets from bankrupt former parent company Le Tote for $12 million in October in a deal that included its inventory, intellectual property, social media accounts, customer data, and e-commerce platform.
Now, it’s attempting to breathe new life into the 195-year-old retailer.
Lord & Taylor’s online shopping offers both classic and emerging brands across women and men’s fashion, home décor and beauty.
There will also be exclusive collaborations and events, with a “robust private label offering” expected to be added in the coming weeks.
“The future of retail is fast and agile, mirrored by our team—which has managed to put together a fantastic assortment of merchandise and a website—in record time of less than 120 days,” said Jack Saadia, principal and co-founder of The Saadia Group. “We are deeply committed to continuing the rich legacy of the brand in a progressive way. Today’s unveil is just the beginning.”
Related stories will be right here …
Consumer goods company and parent owner The Saadia Group announced the relaunch of Lord & Taylor as an e-commerce platform.
The retailer filed for bankruptcy in August, struggling for a while to compete in the changing retail environment and hit hard by the COVID-19 pandemic. It said at the time it was looking for a new owner.
In September, it closed the remainder of its doors.
The Saadia Group purchased Lord & Taylor’s assets from bankrupt former parent company Le Tote for $12 million in October in a deal that included its inventory, intellectual property, social media accounts, customer data, and e-commerce platform.
Now, it’s attempting to breathe new life into the 195-year-old retailer.
Lord & Taylor’s online shopping offers both classic and emerging brands across women and men’s fashion, home décor and beauty.
There will also be exclusive collaborations and events, with a “robust private label offering” expected to be added in the coming weeks.
“The future of retail is fast and agile, mirrored by our team—which has managed to put together a fantastic assortment of merchandise and a website—in record time of less than 120 days,” said Jack Saadia, principal and co-founder of The Saadia Group. “We are deeply committed to continuing the rich legacy of the brand in a progressive way. Today’s unveil is just the beginning.”
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