The National Retail Federation expects retail sales growth to return to pre-pandemic levels as consumers continue to face inflation.
Le Tote Completes Lord & Taylor Acquisition
The clothing rental subscription service plans to open several “rental studio” locations in Lord & Taylor stores.

San Francisco—Clothing rental subscription service Le Tote completed its acquisition of Lord & Taylor last week, purchasing the retailer from Hudson’s Bay Company for $100 million.
As per the deal, first announced in August, Le Tote will also acquire Lord & Taylor’s brands, intellectual property, digital channels and inventory.
Founded in 2012, Le Tote rents out women’s clothing and accessories for a flat monthly fee, with the option to then purchase at a discount.
The company said it plans to offer Lord & Taylor’s inventory on its rental platform.
In its first cross-brand collaboration, Le Tote launched an in-person “Rental Studio” in a Lord & Taylor store in Ridge Hill, NY, giving customers a first-hand look at a sampling of its rental inventory.
“By pairing tradition and technology, we are erasing the lines between online and in store, renting and buying,” said Le Tote CEO Rakesh Tondon in a press release.
“Today, more than ever, people aren’t single brand or single channel shoppers. They crave innovative, personalized experiences,” he added.
The deal also gives Hudson’s Bay, which also owns Saks Fifth Avenue and Saks Off 5th, an equity stake in Le Tote and certain minority shareholder rights as well as two seats on its board.
Bari Harlam, chief marketing officer, and Nick Cavallaro, vice president of corporate development, will fill HBC’s board seats.
HBC and its real estate joint venture, HBS Global Properties, will retain ownership of all Lord & Taylor-related owned and ground-leased property. The company will continue to pay the rent for the next three years; it expects to be liable for approximately $58 million in Lord & Taylor rent on an annual basis.
Le Tote also announced the appointment of Ruth Hartman, its chief merchandising officer, as president of Lord & Taylor.
Brian Hoke will continue to serve as Lord & Taylor’s chief merchandising officer while Robert Wehrle will stay on as senior vice president of stores.
“By delivering data driven experiences, we’ll breathe new life into the traditional retail model and put customers in the driver's seat in a way they’ve never been before,” said Hartman in a press release.
Le Tote said additional rental studio locations will launch in more Lord & Taylor stores in coming weeks.
The Latest

The 4-carat, old mine brilliant-cut diamond engagement ring was co-designed by Willis and New York City-based brand Karina Noel.

Rio Tinto unearthed the diamond at its Diavik mine in Canada’s Northwest Territories.

Bench jewelers spend years honing their skills, Jewelers of America’s Certification validates their talents.

The multisensory experience, open April 8-13, will feature the brand’s silver creations among dream-like scenes of natural landscapes.


The virtual event will take place April 7 at 3 p.m.

The pieces in “Animali Tarallo” portray animals from stingrays to elephants through portraits and interpretations of their patterns.

Natural diamonds mean more than lab-grown, but when every cut is ideal, they all look the same. Customers want more—Facets of Fire delivers.

Ronald Winston, son of Harry Winston, donated the diamonds to the Smithsonian National Museum of Natural History in Washington, D.C.

The educational event will take place in Charlotte, North Carolina, this May.

The independent jeweler first opened its doors in 1888.

The debut event will take place in Miami’s Coconut Grove neighborhood this fall.

The roundtable will take place May 17 ahead of the trade show’s welcome dinner.

The “Peanuts x Monica Rich Kosann” collection features the comic strip’s classic vocabulary across 10 bracelet designs.

Three industry experts dive into the complexities of the material often marketed as an “ethical” alternative for metal in jewelry.

Diamonds are not only one of the most prominent gemstones, but the birthstone for those born in April.

The Utah-based company known for making wedding bands has acquired Doubloon Golf.

The longtime luxury executive led one of LVMH’s watch brands, TAG Heuer, for 12 years before taking over Bulgari in 2013.

Authorities said the robbers fled with jewelry and 70 Rolex watches, later taking pictures of themselves posing with big stacks of cash.

Lotus Gemology founder Richard W. Hughes has translated Heinrich Fischer’s 1880 book “Nephrit und Jadeit” from its original German.

The ring's design features contrasting lines influenced by work from architecture-inspired photographer Nikola Olic.

The Conference Board’s index fell as consumers continued to worry about the impact of tariffs, the labor market, and the price of eggs.

However, two medieval jewels surpassed estimates at Noonans Mayfair’s recent jewelry auction in London.

The Oscar-nominated actor debuted in the campaign for the new “Top Time B31” collection, which introduced Breitling’s Caliber B31.

The Congress is scheduled to take place May 19-22 in Brasilia, Brazil.

The family-owned retailer is the new owner of Morrison Smith Jewelers in Charlotte, North Carolina.

The “150 Art Deco” collection features a Miss America timepiece and a pocket watch from the brand’s Archive Series.