PodcastsAug 19, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
MajorsOct 25, 2017
Lord & Taylor’s 5th Ave. Flagship Being Sold
The iconic retail space will become WeWork’s NYC headquarters, though a much smaller Lord & Taylor store will remain there.
WeWork’s current New York headquarters (pictured here) are located on 18th Street in Manhattan’s Chelsea neighborhood but will move into the Lord & Taylor building on Fifth Avenue after Christmas 2018. WeWork operates co-working spaces used by entrepreneurs, freelancers, small companies and start-ups worldwide.
New York--Hudson’s Bay Co. announced Tuesday that it is selling the Lord & Taylor Fifth Avenue flagship store to co-working space company WeWork in a deal valued at $850 million.
Under the terms of the deal, the 676,000-square-foot store will continue to operate through Christmas 2018. After that, WeWork will move its New York headquarters from Chelsea into the Lord & Taylor building, which also will be home to additional WeWork shared office space.
A Lord & Taylor store will continue to operate on the bottom floors of the building, which is located on the west side of Fifth Avenue between 38th and 39th streets, though it will be much smaller--150,000 square feet, or about a quarter of the entire space.
The planned sale of this iconic New York retail space, which opened in 1914 and is literally a city landmark, is yet another example of a large retailer coming under pressure to cut back on the amount of physical space it has and cash in on valuable real estate holdings as sales fall and more shopping is done online.
In a company statement, HBC Governor, Executive Chairman and interim CEO Richard Baker said: “HBC and WeWork have been working together to reimagine retail environments for current and future generations. This is a transformative partnership that rethinks how retailers create exciting environments and leverage less productive space while substantially improving the value proposition.”
WeWork CEO and founder Adam Neumann noted that, “Retail is changing and the role that real estate has to play in the way that we shop today must change with it.”
HBC said it will use the proceeds from the transaction to pay down debt.
As part of the deal, WeWork also will begin leasing space in other HBC-operated stores, starting with the upper floors of the Hudson’s Bay department stores on Queen Street in Toronto and Granville Street in Vancouver, as well as the Galeria Kaufhof department store in Frankfurt, Germany.
The news of HBC’s deal with WeWork comes less than a week after the retailer announced that CEO Gerald (Jerry) Storch was stepping down and would be replaced on an interim basis by Baker.
Headquartered in Brampton, Ontario, Canada, HBC operates the Hudson’s Bay, Lord & Taylor, Saks Fifth Avenue, Saks Off Fifth, Galeria Kaufhof (Germany) and Galeria Inno (Belgium) department store chains, as well as online retailer Gilt.
HBC ranks No. 17 on the $100 Million Supersellers list in National Jeweler’s
Editors' Picks
Sponsored by
2017 State of the Majors report, with an estimated $431 million in watch and jewelry sales in North America last year.
More on Majors
The Latest
Policies & IssuesAug 19, 2026
Spinelli Kilcollin Embraces Dupes With Trade-In ProgramThe jeweler is encouraging customers who own lookalike rings to come into the store and trade them for credit towards an authentic piece.
SourcingAug 19, 2026
Vasant Mehta, a Dedicated Diamond Industry Leader, Dies at 81Mehta led India’s GJEPC through the 2008 financial crisis and was respected worldwide for his wisdom, integrity, and knowledge.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
CrimeAug 18, 2026
2 California Men Arrested in Fatal Vehicle Smash RobberyOne is the driver who allegedly crashed a car into a Sacramento jewelry store in April, striking a 71-year-old employee who later died.
Weekly QuizAug 13, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsAug 18, 2026
Peter Smith: The IKEA Effect and Bridal Branding In a new column, Peter Smith posits that people actually enjoy putting together IKEA furniture, and the same is true for engagement rings.
CrimeAug 18, 2026
Thieves Snatch $1M in Jewelry From New Jersey Jeweler9lakha Jewelers in Iselin, New Jersey, was the target of a smash-and-grab robbery on Aug. 8.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Lab-GrownAug 18, 2026
Ring Concierge, Kendall Jenner’s Tequila Brand Collab on GiveawayThe jeweler has partnered with 818 Tequila to gift lab-grown diamond studs to a bride-to-be and their bridal party.
Events & AwardsAug 17, 2026
Exhibition on Louis Comfort Tiffany’s Studios to Open at The MetThe exhibition will feature more than 100 drawings of stained-glass lampshades, windows, and more, many created by women and émigrés.
CollectionsAug 17, 2026
Marquise Diamonds Dance in Spinelli Kilcollin’s ‘Wren’ CollectionMarquise-cut diamonds in drop charms are the center of the new collection, reflecting the movement of a dancer in modular styles.
Events & AwardsAug 17, 2026
There’s a New Jewelry Show Coming to FloridaThe inaugural Fort Lauderdale Jewelry, Antique, & Object Show will be held from Jan. 28 through Feb. 1, 2027.
IndependentsAug 14, 2026
Smyth Jewelers to Open Fourth LocationThe family-owned jeweler will open a new showroom in Bel Air, Maryland, this fall.
CrimeAug 14, 2026
Wife of Man Convicted in Jeweler’s Murder Sentenced for Conspiracy Amanda Ileana Hernandez is married to Carlos Hernandez, one of two men in prison for the 2024 murder of Michigan jeweler Hussein Murray.
TrendsAug 14, 2026
Paul Morelli’s Latest ‘Wavey Vine’ Earrings Embrace ColorThe reimagined jewel, our Piece of the Week, trades the diamonds in the original 1998 design for blue, pink, yellow, and green sapphires.
Supplier BulletinAug 13, 2026
Your Piece Could Be the One Editors Talk AboutSponsored by American Gem Trade Association
FinancialsAug 13, 2026
Pandora’s ‘Talisman’ Collection Shines, Lab-Grown Diamond Sales FallIn the United States, second-quarter sales were flat amid soft consumer sentiment and lower in-store traffic.
AuctionsAug 13, 2026
This Gold Cadbury ‘Conundrum’ Egg Set a World Auction RecordThe 22-karat gold egg, sold at Batemans Auctioneers in the U.K., was part of a 1980s treasure hunt ad campaign for Cadbury Creme Eggs.
SourcingAug 13, 2026
2,488-Carat Diamond, Largest Found in Botswana, Has a New Owner Lucara Diamond Corp., which recovered the “Motswedi” diamond from the Karowe mine, sold the stone for an undisclosed amount.
CollectionsAug 13, 2026
John Hardy Infuses ‘Icon,’ ‘Heishi’ Collections with ColorThe expanded collections now feature hand-cut gemstones like topaz, tanzanite, chrysoprase, chalcedony, smoky quartz, and fire opal.
Lab-GrownAug 13, 2026
Jean Dousset Opens Third StoreThe lab-grown diamond jewelry brand’s newest boutique is in Westfield Valley Fair in Santa Clara, California.
SourcingAug 12, 2026
Eshed-Gemstar on the Painstaking Process of Cutting ‘The Legacy Emerald’The gemstone supplier and manufacturer acquired the remarkable 104-gram Zambian emerald at Gemfields’ auction in May.
CrimeAug 12, 2026
Elderly NYC Woman Targeted in Jewelry Swap SchemeTwo suspects offered to trade the woman a “winning” lottery ticket for her jewelry.
SourcingAug 12, 2026
Another Diamond Mine Poised to CloseFinsch has been in business rescue since May, and owner Petra Diamonds said it sees no viable path forward for the mine.
CrimeAug 12, 2026
Jewelry Store Employee Gets 20 Years to Life in Choking Death of BossMichel Patrick DeSalles was sentenced after pleading guilty to the 2017 murder of Omid Gholian, who owned a jewelry store in Manhattan.
MajorsAug 12, 2026
Frederick Goldman Names New SVP of SalesLongtime industry executive Beth Miller has taken on the role.
AuctionsAug 11, 2026
Verdura Unicorn Brooch With Royal Connection Up for Auction The brooch was owned by Virginia Fortune Ryan Ogilvy, who served as a lady of the bedchamber to Queen Elizabeth II for nearly 50 years.
